Baku, Azerbaijan, Aug. 8
By Fikret Dolukhanov – Trend:
Clients of the Uzbek joint-stock commercial bank Hamkorbank will now be able to store their savings in US dollars, the Uzbek bank announced.
According to the information, Hamkorbank JSCB presented a new type of money deposit in dollars “Sarmoya” (translated as “a deposit”). Money is deposited at an interest rate of 6 percent per annum.
The term of the deposit is 36 months (3 years), and the minimum amount is $500. At the same time, interest from the deposit can be withdrawn monthly. If the funds are claimed back after 12 months, then the six percent interest remains intact.
It was reported on Aug. 8 that Hamkorbank connected to card-to-card money transfer service of the Uzbek payment operator Payme.
S&P Global Ratings assigned its 'B+' long-term and 'B' short-term issuer credit ratings on Uzbekistan-based Hamkorbank JSCB with the stable outlook on July 19.
With total assets of 5.65 trillion soums (about $700 million) as of May 1, 2018, Hamkorbank is the largest-privately owned bank in Uzbekistan and eighth-largest bank in the country. Serving a broad range of customers, from retail and private entrepreneurs to large corporates, the bank receives about 5.0 percent of the system-wide deposits and provides about 2.8 percent of the system-wide loans.
The bank has a particularly solid country-wide franchise in retail, micro-, and small and medium-sized enterprise (SME) lending, which have been the bank's traditional areas of expertise since its foundation in 1991. With 40 branches and 158 mini-offices, Hamkorbank also has a good geographical footprint across the country.
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