Tashkent, Uzbekistan, Oct.28
By Demir Azizov- Trend:
Dutch development bank (FMO) became a shareholder of the Uzbek Hamkorbank with a share of 15 percent, the bank said Oct.28.
The details and the amount of the transaction are not disclosed.
Open joint-stock commercial Hamkorbank was formed in 1991. Bank with assets of 1.095 trillion soums and net capital worth of 139 billion soums is among the number of medium-sized banks republic.
The official exchange rate for October 28 is 2383.98 UZS / USD.
The head office of the bank is located in Andijan (center of the same area). The bank has a representative office in Tashkent, the network of branches and mini-banks in all districts of the country. The main business of the bank is lending to small and medium enterprises and individual entrepreneurs.
In 2010, the International Finance Corporation joined the shareholders of the bank with a share of 15 percent in the share capital.
Some 70 percent of the shares of Hamkorbank are currently owned by legal entities and individuals in Uzbekistan, according to the bank. IFC and FMO own 15 percent of shares.
Cooperation of Hamkorbank OJSC with the bank of Holland was established in 2010. In 2012, FMO provided credit of $9 million to Hamkorbank. In March of 2014, bilateral agreements on the allocation of an additional loan of $4 million by the Dutch development bank were signed.
"It is expected that FMO's joining the Hamkorbank's shareholder structure will help to its institutional development, make it possible to improve the quality of services provided to customers," said a statement.