Pakhta Bank, one of the largest Uzbek Bank, started to connect regional branches and mini-banks with wireless network, Uzbekistan Today reported.
The Fund for Reconstruction and Development of the Republic of Uzbekistan has signed an agreement with the Czech Export Bank on the support and development of the investment and financial cooperation between the two countries.
Uzpromstroybank (Uzbek industrial construction bank) in the first quarter of 2007 directed 22.9 billion soums to support entrepreneurship activity, including 8 billion soums allocated to investment projects and 1.2 billion soums to microloans.
In Uzbekistan a large-scale work is under way oÂn comprehensive protection and support of the business people and all opportunities have been created for their full-fledged operations.
The National Bank of Uzbekistan for Foreign Economic Activities (NBU) was given Special Recognition Award for its project "Micro-lending facility for farmers and rural enterprises" during the Awards Nights of the 30th ADFIAP annual meetings in Hanoi, Vietnam, on 9-12 May.
Nominal money incomes of the Uzbek population increased by 29.3% in the first quarter 2007 as compared to the first quarter 2006 and amounted to 3.45 trillion soums, money expenditures and savings - by 34.4% and 3.5 trillion soums respectively.
About 967.2 billion soums of investments were used to increase fixed capital of the Republic of Uzbekistan in January-March 2007, or 136.4% compared to January-March 2006, according to the State Statistics Committee.
Net audited loss of ABN AMRO Bank NB Uzbekistan, largest bank of Uzbekistan with foreign capitals, made up 919 million soums (US$741,146) in 2006 against net income 943.4 million soums a year earlier.
General meeting of the Uzbekistan Autoinsurers Association (UAA) devoted to the results of the association’s activity in 2006 and review of the revision commission’s report was held on 1 May in Tashkent.
Nowadays reorganization of banks into Joint Stock Banks and organization of new banks in the form of Joint Stock companies increase the banks’ power in the Equity Market and expand their operations with securities of Uzbekistan. Organizational structure of banks should be established and kept up to Good Governance principles in order to achieve the most effective and efficient results.