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Kazakh Halyk Bank gets permission to open branch in Uzbekistan

Uzbekistan Materials 4 February 2019 09:06 (UTC +04:00)
Kazakhstan’s Halyk Bank has received prior permission from the Uzbek Central Bank to open a branch in Uzbekistan, the Central Bank’s First Deputy Chairman Timur Ishmetov told Gazeta.uz in an interview, Trend reports.
Kazakh Halyk Bank gets permission to open branch in Uzbekistan

Baku, Azerbaijan, Feb. 4

Trend:

Kazakhstan’s Halyk Bank has received prior permission from the Uzbek Central Bank to open a branch in Uzbekistan, the Central Bank’s First Deputy Chairman Timur Ishmetov told Gazeta.uz in an interview, Trend reports.

"Halyk Bank handed over a document to obtain prior permission to open a bank, but not a license yet. Last week, it received prior permission from the Central Bank, based on which it can begin activities for opening a bank. It is valid for six months and Halyk Bank must prepare a building that meets the requirements and form a capital during the period. If these two requirements are met, it can get a license," Ishmetov said.

Ishmetov also noted that the Georgian TBC Bank has not yet applied to the Central Bank to obtain a license.

"TBC Bank has not handed over documents for obtaining a license. So far, they have expressed an intention to open a bank, have prepared a business plan, they are studying the market, but have not yet handed over the documents," he explained.

TBC announced its intention to enter Uzbekistan in early January.

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