Uzbek National Bank attracts loan from German bank
BAKU, Azerbaijan, Oct. 6
By Klavdiya Romakayeva - Trend:
Joint-Stock Commercial People's Bank in Uzbekistan agreed to attract a credit line in the amount of 1.54 trillion soums ($150 million) from the German Deutsche Bank AG, Trend reports referring to a single portal of corporate information in Uzbekistan.
The deal was approved by the decision of the Bank's Supervisory Board. The loan amounts to 32.52 percent of the net assets of the People's Bank. The purpose of the borrowed funds is not specified.
People's Bank is the largest in Uzbekistan in terms of the number of branches (1,100) and cash desks (3,000). The main (100 percent) shareholder of the bank is the state represented by the Ministry of Finance and the Fund for Reconstruction and Development of Uzbekistan.
In 2019, the international agency Fitch Ratings confirmed the bank's 'BB’ credit rating.
A ceremonial presentation of the certificate by the managing director and regional head of Fitch Rating for Russia, the CIS, and the Black Sea region Dmitry Surkov took place in the building of the Tashkent administration.
Surkov expressed confidence that the rating will become one of the tools to increase the investment attractiveness of the capital of Uzbekistan.
Earlier it was reported that Deputy Prime Minister of the Government of Uzbekistan, Minister of Finance Timur Ishmetov was elected as Chairman of the Board of the Supervisory Board of People's Bank JSC.
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