Tashkent, Uzbekistan (UzDaily.com) — Ipak Yuli Bank has decided to allocate 393.2 billion soums to form a reserve fund. This decision was made during an extraordinary shareholders’ meeting.

The funding will come from profits earned during the first half of 2024.

Additionally, the meeting approved transferring the authority to issue corporate bonds to the bank’s supervisory board.

From April to June 2024, the bank’s net profit amounted to 740 billion soums, significantly exceeding the same period in 2023, when the profit was 278.3 billion soums.