Transformation processes in the banking system are considered

On November 20, President Shavkat Mirziyoyev held a meeting to discuss the processes of transformation and privatization in the banking system.

As a result of the work carried out to reform this sector over the past three years, the capital of banks has increased by 1.8 times, and the annual volume of lending - by 2 times. Four banks issued Eurobonds for the first time and raised $1 billion on the international capital market. A strategic foreign investor has been attracted to Mortgage Bank. 13 new private banks have opened, leading banks in Hungary, Kazakhstan and Georgia have started their activities in the country. The volume of online banking services increased 2.7 times.

At the same time, competition in the banking sector, as well as the demand for its services, is growing every day. This requires accelerating the processes of transformation, identifying priorities for the future.

At the meeting, proposals were made to prepare banks for privatization, organize an IPO of their securities, and attract experienced foreign specialists to the field.

The task is to strengthen cooperation with international rating companies, develop medium-term measures to improve the rating of banks. The necessity of adapting the system of training specialized personnel to the requirements of the time is noted.

At the meeting, the heads of banks presented their plans for transformation and preparation for privatization, training of employees, introduction of advanced IT solutions in the sphere.

It was emphasized that each bank should analyze projects in depth and accompany them to the end of implementation, form effective projects in regions and industries.