Fitch Ratings and Standard&Poors , the prestigious international rating agencies, upgraded Uzpromstroybank's credit rating from "B+" to "BB-" and assigned its outlook as "Stable".
In 2018 Uzpromstroybank carried out rebranding. The new brand symbolizes improvements in business processes, quality of services and products, along with changes to the bank logo.
Rebranding is a big step towards improvement
In November 2017 the Bank launched a new Jizzakh regional branch in Jizzakh.
According to the decision of the general meeting of shareholders following the results of 2013, the legal name of the bank was changed to the Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank".
In 2008, according to the decision of the general meeting of shareholders, the legal name of the bank was changed to Open Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank."
In 2008, the international rating agency "FITCH RATINGS" confirmed Uzpromstsroybank rating at the “B” with the forecast stable.
In January 2006, Uzpromstroybank was reorganized joining with International Bank of Uzbekistan "Uzprivatbank".
Pursuant to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan on 24 September 2004 №445 «Measures for further development of payment system based on plastic cards" the bank develops its payment system, introduces salary projects for organizations of the country. The Bank began to issue and service of international payment chip cards Visa Electron and Visa Classic with its own design first in the country.
Fund for Deposit Guarantee in banks of Uzbekistan, established pursuant to the Law "On guarantees of protection of citizens' deposits in banks", adopted in April 2002, protects deposits of Uzpromstroybank. The Bank is constantly developing and implementing new time deposits that its appeal and high-deserved great interest of the population to keep their savings.
Money-credit policy of the Bank, conducting by the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan on 22 August 2001 №349 “Measures for further improvement of the lending economy mechanism" has facilitated economic reforms in the country and was aimed at supporting export-oriented and import-substituting manufactures”.
Whole activity of the Bank passes on the background of deepening process of market transformation, realization priority directions on liberalization and speeding-up economic reforms, under certain Decree of the President of the Republic of Uzbekistan on 21 March, 2000 “Measures for further liberalization and reform of the banking system”.
In 1998 Uzpromstroybank’s activity was directed on the implementation of the program approved by the Cabinet of Ministers on deepening economic reforms and the execution of the State Program for the interests of the family, implementation of measures to strengthen macroeconomic and financial stabilization.
In 25 April 1996, Law of the Republic of Uzbekistan "Banks and banking activity" was released, which determines the legal framework of the bank. Issued at the same year Resolution by Cabinet of Ministers № 230 "Measures to reduce the emission of money" on the establishment of the bank imposed control on monitoring established requirements carrying cash transactions by business entities of all forms of ownership.
After the independence, the country began to form a qualitatively new, bimodal banking system. Uzpromstroybank was transformed into joint-stock commercial at the Constituent Conference. The leading industrial enterprises and contracting organizations of the Republic of Uzbekistan became its founders.
In 1987, Stroybank reformed into the Industrial-Construction Bank. At the same year in the banking system began reforming, that acquired a qualitatively new character after the declaration of independence of Uzbekistan.
In order to tighten the financial control over the proper expenditure of means directed by state for capital investment, Prombank was transformed into the Bank of financing capital investments – Stroybank in 1959. The Bank played invaluable role in the restoration of Tashkent after the earthquake in 1966.
New rules for financing capital construction and rules on construction contract agreements were approved in 1955. The Bank enhanced control over the state plans implementation commissioning production facilities and fixed assets. Settlements for ready objects were increased, and the system of short-term crediting contractors was changed.
The increasing volume of capital investments and transfer service of contractors settlement accounts in Prombank demanded changes in the financing system. In May, 1932, Prombank was transformed into a specialized bank of long term investments, which was entrusted the financing of capital construction, heavy, light, local industry, supply organizations, foreign trade.
Uzpromstroybank’s history dates back to 1922 – with the opening of Middle Asian Bureau of Industrial Bank in Tashkent and inseparably linked with the development of the national economy.