Tashkent, Uzbekistan, Jan. 11
By Mammad Dashdemirov – Trend:
Uzbek President Shavkat Mirziyoyev has banned the country’s Central Bank from participating in the management of commercial banks, through its share in their authorized capital and as part of supervisory boards, the Central Bank told Trend Jan. 11.
To date, the Central Bank owns a stake in Halyk Bank in the amount of 49 percent of its authorized capital and Microcreditbank - 13 percent. Those assets will be transferred to the Ministry of Finance upon the president’s decision.
As of October 1, 2017, Halyk Bank ranked seventh in Uzbekistan in terms of assets and sixth in terms of capitalization. In particular, the bank's assets increased by 27.3 percent to 5.6 trillion soums, capital - by 66.3 percent to 923 billion soums in January-September 2017. The bank’s net profit increased 1.8 times and amounted to 137 billion soums.
By the end of the third quarter of 2017, Microcreditbank ranked 12th among the Uzbek banks in terms of assets and 9th in terms of capitalization.
To date, the Uzbek banking system consists of 28 commercial banks, including 3 state banks, 12 joint-stock commercial banks, 8 private banks and 5 banks with foreign capital.
(8.139 UZS = $1 on Jan. 11)