Tashkent, Uzbekistan (UzDaily.com) -- Hamkorbank was one of the first banks in Uzbekistan to start investing in the international stock market.

The bank’s first deal took place on 30 July at the London Stock Exchange (LSE), it was the purchase of eurobonds issued by the Republic of Uzbekistan. The number of securities and the amount of the transaction have not yet been disclosed.

The international securities market was selected as less risky. The bank believes that the new direction for obtaining additional income will allow:

better diversify assets;

such operations provide an opportunity for effective management of bank funds;

REPO transactions with securities will allow attracting cheaper resources;

widespread use of futures and options will make it possible to effectively manage currency risks.

The Republic of Uzbekistan in February 2019, for the first time in history, successfully placed sovereign government eurobonds in the amount of US$1 billion. They were highly appreciated by international investors and the demand for them was 4 times higher than the amount placed.