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.
Bank Ipak Yuli registered new emission of shares for 2 billion soums in the beginning of May.
Central Bank of Uzbekistan issued a pawnshop license to the Qorasuv-Invest LLC (Tashkent) in accordance with the Article 50 of the Law "On Central Bank of the Republic of Uzbekistan".
Russia’s second largest bank, state-owned Vneshtorgbank (VTB), may acquire a 50% stake in a medium-sized Uzbek Kapitalbank.
State property committee of the Republic of Uzbekistan invited international assessment and consulting companies to participate in the competition for selection of the company to assess value of the 51% shares of the State Joint - Stock Commercial Bank “Asaka”.