Uzbekistan, Tashkent, Feb. 10 / Trend D. Azizov /
Visa International's regional operations committee has decided in late January to admit the National Bank of Uzbekistan into Visa International, the bank said today.
The associate member status will enable the bank to expand its services and offer the modern banking products at an international level.
The bank will issue three types of Visa international bank payment cards -- Electron, Classic and Gold.
The membership in the international payment system "Visa" testifies to the compliance of financial, risk indices of the activity of the People's Bank with the international requirements.
The report did not specify the cost of the project and the number of plastic cards.
Public-commercial Halk Bank was transformed in 1995 from the Uzbek national savings bank. The Bank is an agent of the government in implementing social programs, and it functions as a universal commercial bank.
Halk Bank is defined as the only organization that accumulates account of citizens participating in the pension system in accordance with the law On the Cumulative Pension Benefits Act.
The assets of the Halk Bank, calculated according to the national accounting standards (NAS), increase by 40.7 percent up 1.235 trillion soms in 2010, compared to the totals in 2009, the loan portfolio increased by 32.4 percent, up to 555 1 billion soms, the liabilities by 43.6 percent to 1.036 trillion soms, own capital by 27.3 percent to 199.4 billion soms in the light of the authorized capital of 160 billion soms formed at the beginning of 2011.
Net income amounted to 28.3 billion soms for the end of 2010 compared to 22.457 billion soms in 2009 (growth is by 25.8 percent).
At present, commercial banks in the country put into circulation about 8.276 million plastic cards, the Uzbek Central Bank said.
There are several bank card payment systems in Uzbekistan. There is a unified national payment system UZKART.
Official exchange rate is 1.816.76 soums/$1 on Feb. 10.