AsiaMoney magazine names largest credit institution in Uzbekistan

Finance Materials 2 April 2020 11:37 (UTC +04:00)
AsiaMoney magazine names largest credit institution in Uzbekistan

BAKU, Azerbaijan, Apr. 2

By Ilkin Seyfaddini – Trend:

In the "Best Bank of 2020" contest held by AsiaMoney magazine, Uzpromstroibank was named the winner in the Best local bank category, Trend reports with reference to AsiaMoney magazine.

The experts of the publication, recognizing the mentioned bank as the largest credit institution in Uzbekistan, analyzed its activities over the past 12 months.

According to the Central Bank of Uzbekistan, as of 1 February 2020, assets grew by 15.4 percent compared to the same period of 2019 and made up 35.4 trillion soum ($3.7 billion).

In AsiaMoney report special attention was paid to importance of Eurobonds for $300 million placed by Uzpromstroybank in November 2019 at London Stock Exchange. It was noted that this was a breakthrough for the country, as the bank became the first among Uzbek banks in the world stock market.

It was noted that the bank is the main corporate credit organization, in particular, in 2019 - 49 percent of credit resources were allocated to large enterprises, 40 percent to small business and private entrepreneurship, the rest to retail customers.

The Best Bank contest is traditionally held annually by AsiaMoney magazine, among banks of Asia-Pacific countries. At the same time, the main goal is to evaluate the active activity of the banks of each country over the past year.

Winners are encouraged in such nominations as "Best Local Bank", "Best Corporate and Investment Bank", "Best International Bank", "Bank Providing Best Services to Small and Medium Enterprises", "Best Digital Bank", "Best Bank in terms of Corporate Social Responsibility" and "Best Bank in Providing Microfinance Services".

AsiaMoney is a division of the global media group Euromoney Institutional Investor PLC, whose majority shareholder is London's Daily Mail and General Trust Group.

AsiaMoney reports and offers financial and investment market analysis to capital issuers, borrowers, institutional investors and senior corporate and government decision makers with business interests in the Asia Pacific region.


Follow author on Twitter: @seyfaddini