Gazprombank, Uzbekistan may set up consulting services JC

Business Materials 4 March 2019 12:10 (UTC +04:00)

Baku, Azerbaijan, March 4

By Fakhri Vakilov - Trend:

Gazprombank and Uzbek Ministry of Investment and Foreign Trade may create a joint company that will specialize in providing consulting services in the preparation of investment projects, Gazprombank told Trend in an interview.

“This is about developing business plans, marketing research, feasibility studies and other areas,” the company told Trend.

Gazprombank said that the experience of the company can also be used to establish cooperation with the Ministry to create a sustainable system of pre-export financing, where the export is carried out in favor of counterparties on acceptable payment risks for the bank.

The bank stressed that it has extensive experience in foreign economic activity and is actively involved in large international projects, speaking, among other things, as a recognized player in the investment bank market. At the same time, the geography of its international presence is constantly expanding.

“Gazprombank owns a share in the capital of three foreign banks: OJSC Belgazprombank (Belarus), GPB International S.A. (Luxembourg), Gazprombank (Zurich, Switzerland). In 2014, GPB Financial Services HK Limited, which provides financial services to Russian companies in Hong Kong, and GPB Africa (Pty) Ltd, (Johannesburg, South Africa) were founded. In addition, Gazprombank owns a financial company in Cyprus,” the company said.

Gazprombank said that Uzbekistan is a reliable and promising partner, which confirms the recent placement of its debut Eurobonds (organized by Gazprombank).

In particular, high interest from investors allowed Uzbekistan several times to revise indicative prices for issues and close the book with final yields of 4.750 percent and 5.375 percent for five-year and ten-year tranches, respectively, which is significantly lower than the initial target levels.

At the same time, at its peak, the volume of applications amounted to more than $8.5 billion.


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