Tashkent, Uzbekistan (UzDaily.com) -- People’s Bank (Halyk bank) of Kazakhstan plans to open its branch in Uzbekistan by the end of 2018. This was stated by the chairman of the Kazakh Bank Umut Shayakhmetova.

She noted that currently the bank is at the stage of filing permits to regulators of Kazakhstan and Uzbekistan, LS Aqparat reported.

Umut Shayakhmetova stressed that the board of directors of the new structure had already been created.

It should be reminded that in July the Central Bank of Uzbekistan and the National Bank of Kazakhstan signed an agreement on cooperation in the field of banking supervision. The document gives an opportunity to the banks of Kazakhstan to open subsidiary banks in the Republic of Uzbekistan.