The bank issues new shares for US$3.27 million in line with presidential resolution "On measures to further increase the capitalization of banks and stir up their participation in investment processes of modernization of economy"
Currently, the bank’s authorized capital equals to US$9 million. The shareholders of the bank are KDB Bank (61%), EBRD (28%), National Bank of Uzbekistan (5.5%), Turonbank (5.5%).
It is expected that the EBRD will purchase 22,263 shares worth US$909,170 from new shares’ emission. UzKDB Banks is expecting that it will float all shares by 2007 and the charter capital will reach US$12.27 million.
The increase of the bank’s capital will strengthen competitiveness of UzKDB Bank in financial sector of Uzbekistan and expand its operation in the country, as well as upgrade its IT system.