Uzbek bank suspends physical entities’ servicing

Business Materials 21 January 2012 14:13 (UTC +04:00)

Uzbekistan, Tashkent, Jan. 21 / Trend D. Azizov /

The Uzbek open joint-stock commercial bank "Credit-Standard" reported about the temporary suspension of issuing VISA cards and servicing physical entities' cards.

The bank reported that VISA cardholders must make current operations on the cards till Jan. 31.

The insurance deposit worth $ 100 will be given to VISA Classic cardholders through the deposit account on the basis of the application to close the card after 30 days. The balance worth $ 10 at the deposit account will be returned with the insurance deposit.

Only card holders, or authorized persons can conduct transactions to obtain or transfer the balance of the card, the report said.

At present, the leadership of the bank does not comment on this decision.

"Credit-standard" bank was established in August 2003 in the form of a private open joint-stock commercial bank. In October 2007, it was transformed into an open joint-stock commercial bank. It is among the Uzbek medium banks on major banking indices.

The main clients of the bank are large state-owned enterprises, companies with foreign capital, as well as representatives of medium business.

As of the first half of 2011, the bank's assets amounted to 254.8 billion soums, including loans - 36.7 billion soums. Deposit funds amounted to 114.8 billion soums.

The authorized capital of the bank was formed at a rate of 15.552 billion soums as of July 1, 2011. It consisted of 43,200 shares worth 360,000 soums each. The largest shareholder is the Russian company "Transkapital" - 76 percent of shares.

The official exchange rate is 1.804.31 soums/$ 1