Global Markets’ special application, one of the most prestigious print media in the world, Euromoney magazine published a special article about the past, present and future of Sanoat Qurilish Bank (Uzbekistan Industrial and Construction Bank).
It is known that throughout the year, Sanoat Qurilish Bank has been implementing large-scale reforms in order to raise the financial institution to the level of world standards. Although a little more time passed, the activities started today are yielding their results.
In particular, by 1 January 2019, the authorized capital of the bank increased by 29 percent compared to 2018 and amounted to 225.1 million USD, assets increased by 27 percent and amounted to 3.67 billion USD. It is noteworthy that 90 percent of banking assets are credit investments.
The Bank remains active in financing large investment projects that are important in development of the country. In this regard, it should be noted that projects on modernizing Bukhara refinery, expanding Angren thermal station, electrifying Samarkand – Bukhara railway.
In the article it is also emphasized that special attention paid by the bank to strengthening foreign relations not only opens up access to foreign investment for customers of the bank, but also harmonizes with fundamental reforms in the country. In December 2018, after the country gained its first sovereign rating, Fitch, Standard & Poor's agencies also increased the rating of Sanoat Qurilish Bank.
Along with this, in the material it is stated that the bank actively participates in social projects, pays special attention to the development of corporate social responsibility. In particular, the bank provides assistance to citizens of remote areas in establishing their own business. As well as in accordance with the development strategy of the bank, developed jointly with the International Finance Corporation, identified as priority areas of the financial institution Green banking.
The special issue of Global Markets dedicated to Uzbekistan was published in connection with the 28th annual meeting of the Board of Directors of the Organization for Security and Co-operation in Europe (OSCE), held on May 8-9 this year in Sarajevo (Bosnia and Herzegovina). This will serve as an important factor in further popularization of Uzbekistan, in particular, Sanoat Qurilish Bank abroad, increasing the interest of foreign investors in the bank.
Information Service of the Bank