Sovcombank cancels the deal on the purchase of Uzagroexportbank.

Askar Yakubov · 14:25, 17.06.2022 · Updated 15:13 · 685 views

Tashkent, Uzbekistan (UzDaily.uz) -- The Russian bank Sovcombank cancels the deal on the purchase of Uzagroexportbank. This was reported by Podrobno.uz with reference to the first deputy chairman of the board of Sovcombank Sergey Khotimsky.

According to him, the sanctions imposed against Russia made it impossible to implement the deal. He noted that all subsidiary banks will also fall under the sanctions.

Sergey Khotimsky noted that the Russian bank would be happy to return to the Uzbek market as a lender after the situation with the sanctions is resolved.

“Now, unfortunately, we are forced to curtail most of our credit projects,” Khotimsky added.

In February 2022, it was announced that Sovcombank acquired a 100% stake in Uzagroexportbank for $4 million.

Askar Yakubov

Askar Yakubov is a professional photojournalist with extensive experience in news and reportage photography. He specializes in fast-paced coverage of social, political, cultural, international, business, and community events, with a sharp eye for capturing expressive shots and conveying the atmosphere of an event under tight time constraints. His skill set spans reportage, portrait, and documentary photography, along with image editing and color correction, and preparing photo materials for media and digital platforms. He is known for his professionalism, adherence to editorial standards, and ability to work both independently and as part of a shooting team.