BAKU, Azerbaijan, May 21
By Ilkin Seyfaddini - Trend:
The share of private banks in Uzbekistan is only 15 percent, Trend reports with reference to the Central Bank of Uzbekistan.
"Preservation of high share of the state in the banking system of Uzbekistan has a negative impact on the overall development of the sphere and its efficiency. At the same time, the increase in number of private banks contributes to improving competitive environment in the sphere," the Central Bank noted.
The Bank believes, that sale of state-owned banks to foreign strategic investors will allow improving the corporate governance and risk management systems in these banks.
Besides, new technological solutions and advanced foreign experience will be introduced into the banking system, business models of banks will change and their level of customer orientation will increase, the message said.
In the future, according to the Central Bank this will create additional conveniences for households and entrepreneurs - the quality of services will improve, prices will drop, new types of products will appear, and the range of e-banking services will expand.
Government of Uzbekistan intends to sell state shares of Ipoteka Bank, Uzpromstroybank, Asaka, Aloqabank, Qishloq Qurilish Bank and Turonbank, providing their institutional transformation (transformation of activities) at the first stage, and implementation of the package of shares at the second stage.
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