Tashkent, Uzbekistan, Jan. 2
By Mamed Dashdemirov – Trend:
The Uzbek-Turkish UTBANK has been renamed to Ziraat Bank Uzbekistan JSC and has become the second bank in Uzbekistan with a 100 percent foreign share after South Korea’s KDB Bank Uzbekistan JSC.
Turkey’s Ziraat Bankasi is now the sole owner of UTBANK after acquiring 50 percent of shares from Uzbekistan’s Agrobank for $14 million in late November 2017.
UTBANK was created in 1993. Uzbekistan’s Agrobank and Turkey’s Ziraat Bankasi were the founders of the bank.