Russian Vneshtorgbank (VTB) intends to spread its presence to all countries of the CIS by mid-2008. The bank is prepared to invest some US$1.5 billion in the capitalization of the existing and acquisition of new banks on the territory of the Commonwealth, Regnum quoted the President and CEO of the Bank Andrey Kostin.
Central Bank of Uzbekistan registered three credit unions, located in Tashkent city, in line with legislation of the country, the bank said in its statement.
Khalq Bank (People’s Bank) issued over 90,000 plastic cards as of the end of the first half of the 2007. The bank said it issued 40,000 plastic cards as a part of salary projects.
The assets of the Ipoteka Bank, one of the five largest banks of Uzbekistan, increased by 33.9% to 562.6 billion soums in January-June 2007, Interfax reported citing the bank’s management.
The aggregate of equity capitals of the insurance companies of Uzbekistan exceeded US$66.8 million and 16.3 billion soums at the end of the first quarter of 2007 (US$63.7 million and 15.7 billion soums in 1Q 2006).
As one of the most dynamically developing markets in the CIS, the insurance market of Uzbekistan again demonstrated high growth results during the past half-year, UzReport.com reported.
In late June, Hamkor Bank held a general shareholders meeting to consider results of the bank’s performance in 2006, and set the performance targets for the year 2007.
Uzbek President Islam Karimov exempt commercial banks from tax on profit earned on long-term investment loans for the period until 1 January 2012.
The Chairman of the Board of the National Bank of Uzbekistan for Foreign Economic Activity (NBU) Saidahmad Rahimov met with the Chairman of the Bank for Development and Foreign Economic Affairs (VneshEconomBank) Corporation of the Russian Federation Vladimir Dmitriev and the Chairman of the Board of the Eurasian Development Bank of Kazakhstan Igor Finogenov on 4 July in Tashkent.