The joint stock commercial bank Kapitalbank opened its fourth branch - Sergeli in Tashkent.
Consolidated balance of National Bank of Uzbekistan for Foreign Economic Activity reached 4.42 trillion soums, the session of NBU’s board, dedicated to the results of the first quarter of 2008, said on 19 April.
Fitch Ratings has today assigned Uzbekistan-based Uzpromstroybank (UPSB) ratings of Long-term Issuer Default (IDR) ’B-’ (B minus) with a Stable Outlook, Short-term IDR ’B’, Individual ’D/E’, Support ’5’, and Support Rating Floor ’B-’ (B minus).
Fitch Ratings said it assigned Uzbekistan-based Uzpromstroybank (UPSB) its ’B-’ long-term issuer default rating (IDR) with a stable outlook, and ’B’ short-term IDR.
Uzbekistan’s nascent banking system benefits from the relative stability of the steadily improving regulatory environment and the system’s growth potential, but is constrained by structural weaknesses, the state’s dominance in the system’s ownership, the volatility in the operating environment and banks’ financial fundamentals and limited competitiveness, says Moody’s Investors Service in its first ’Banking System Outlook’ report for Uzbekistan, published today.
Moody’s Investors Service said it assigned an ’E+’ bank financial strength rating (BFSR), ’B3’ long-term and ’Not Prime’ short-term local and foreign currency deposit ratings to Uzbekistan’s Gallabank, with a stable outlook.
Executive Director of Asian Development Bank (ADB) Kyung-Hoh Kim is visiting Uzbekistan and held negotiations at several ministries and departments of the country, UzA reported.
The Board of Executive Directors of the Islamic Development Bank (IDB), approved new finances amounting to US$ 570.4 million for financing 9 development projects in Iran, Pakistan, Uzbekistan, Niger, Cote d’Ivoire, Guinea , Syria, Morocco and Qatar, and Grants from the Waqf Fund in favour of 6 Muslim Communities in Bosnia Herzegovina, India, USA, Kenya and China. The Board was also informed of 4 other Technical Assistance Projects approved by the President, IDB during the last and current sessions of the Board in favour of Syria, Lebanon, Sudan and Kazakhstan.