According to UzKDB Bank, KDB purchase stake of the EBRD in charter capital of UzKDB Bank and the EBRD was excluded from the list of shareholders. The sum of the deal was not announced.

The EBRD owned 27.8% stake in UzKDB Bank. Before the deal, KDB possessed 61% stake in UzKDB Bank. Other shareholders of the bank are National Bank of Uzbekistan for Foreign Economic Activity and Turon Bank, which hold 5.6% stake in UzKDB Bank each. Currently, the charter capital of UzKDB Bank makes up US$12.27 million.

Shareholders of UzKDB Bank introduced corresponding changes to charter capital. They also approved reorganization of UzKDB Bank in form of merger of UzKDB Bank and Royal Bank of Scotland Uzbekistan (RBS Uzbekistan).

Shareholders of the bank also approved agreement on acquisition and act on transfer on integration of two banks. Shareholders of RBS Uzbekistan also approved these documents at their session. Shareholders of two banks authorized chairpersons of the boards of the banks to sign these documents on behalf of UzKDB Bank and RBS Uzbekistan.

UzKDB Bank and RBS Uzbekistan shareholders authorized boards of the banks to execute decision of general shareholders meeting and provided right to chairpersons of the boards of the banks to notify creditors on reorganization.

In the result of acquisition of UzKDB and Royal Bank of Scotland Uzbekistan, the largest foreign bank will be formed in the country.

In December 2010, Korea Development Bank (KDB) signed agreement with RBS on purchase of 82.35% of its shares in RBS Uzbekistan. The sum of the deal was not disclosed.

KDB says it paid around book value in a deal that creates the largest foreign-owned bank in Uzbekistan. KDB plans to merge RBS Uzbekistan with its existing Uzbek unit - UzKDB Bank.

Shareholders of RBS Uzbekistan, created in 1996, are KDB (82.35%) and National Bank of Uzbekistan for Foreign Economic Activity and Turon Bank.

After acquisition, the assets of the bank rose 2.5 times to US$670 billion. The bank plans to expand scope and quality of financial services in Uzbekistan.