Uzbek International Bank for Privatization and Investments founded through the Resolution by the Cabinet of Ministers of the Republic of Uzbekistan # 171 of March 29, 1994 and its foundation agreement dated May 3, 1994. Uzprivatbank obtained the general license #3 of the Central bank of Republic of Uzbekistan on February 28, 1995.
The shareholders of the Bank are: State Committee for State property management and entrepreneurs support of the Republic of Uzbekistan (10,6%), Scientific Industrial Association “Phonon” (9,7%), Almalyk Mining Complex (9,7%), Navoi Mining Complex (9,7%), Uzbekistan-Netherlands joint venture “UN Group” (23,7%), Bank of Industry and Construction “Uzpromstroybank” (4,7%), Fortis Bank (the Netherlands) (19,0%), Complect Europe B.V. (2,1%), Inter Republic Holdings (10,8%).
As of January 1, 2001 the Shareholders capital of Uzprivatbank is UZS 328,1 m or equivalently $5,5 m and fully paid-in.
The Bank conducts the following operations:
- handling of accounts in soums and hard currencies;
- lending;
- settlements in national and foreign currencies;
- cash operations;
- correspondent relations with domestic and foreign banks;
- securities operations;
- factoring operations;
- issuing guarantees;
- foreign currency exchange;
- trust operations;
- documentary operations (letters of credit, collections, guarantees) in foreign currency.
Since May of 1996 the Bank co-operates with Asian Crossroads Loan Company of the Central Asian-American Fund of entrepreneurs support. In November of 1997 the Bank signed an agreement on financing of investment project of small and medium enterprises (SME) with German development agency “KfW” and Ministry for Foreign Economic Relations of Republic of Uzbekistan. The Bank grants loans on the basis of general agreement between Business Fund and the Bank for investment projects of SME.
There are multi-currency correspondent accounts opened in Fortis Bank (Rotterdam), ABN Amro Bank (New York), Commerzbank (Frankfur-am-Main), Dresdner Bank (Frankfurt-am-Main), National Bank of Uzbekistan (Tashkent), IBG – Nikoil (Moscow).
Uzprivatbank actively takes part on inter-bank foreign currency market. 10 local commercial banks have multi currency correspondent account with the Bank.
The Bank is a member of SWIFT. The Bank is a shareholder and member of Uzbek Republican Currency Exchange.
As per information of Inter-bank Rating Company “Ahbor-Rating” Uzprivatbank takes one of the leading places on reliability among in medium size banks of Uzbekistan.
Since 1996 Uzprivatbank works in the stock market of Uzbekistan. The Bank is appointed as a official dealer on Uzbekistan government securities market and Republican Stock Exchange.
The client base comprises of private small and medium size enterprises, sole proprietors, joint-venture companies, representatives of foreign companies, state companies and organizations, joint-stock companies, subsidiaries of foreign companies.
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