Foreign investments will be attracted to the banks' capital

On March 28, President Shavkat Mirziyoyev got acquainted with the presentation on attracting foreign investments in the capital of Asakabank and Uzpromstroybank.

The importance of the banking system in the economy is great. As a result of reforms in this area over the past three years, the volume of bank lending in our country has increased by 2 times, the capital of banks - by 1.6 times.

For the first time, domestic banks have received prestigious international credit ratings and placed Eurobonds on international capital markets. The number of private banks has grown.

Prestigious banks from Hungary, Kazakhstan, Georgia, and Turkey also entered the Uzbek market. As a result of the transformation of Mortgage Bank, a strategic foreign investor invested in its capital.

In continuation of this work, it is planned to attract foreign investments in the capital of Asakabank and Uzpromstroybank. To do this, together with international financial institutions, 30 qualified specialists with international experience have been attracted to these banks.

During 2023, it is planned to attract $ 125 million to the capital of Uzpromstroybank, and $100 million to Asakabank. Modern software products and more than 100 new types of banking services will be introduced into operational activities.

As a result of this work, it is expected that by the end of 2027, the revenues of Uzpromstroybank will grow by 1.61 times, the loan portfolio by 1.6 times. Deposits in Asakabank will increase by 1.71 times, and the volume of bank assets will increase by 1.72 times. Most importantly, confidence in these and other banks of Uzbekistan in the international financial market will increase, their attractiveness for foreign investors and partners will increase.

During the presentation, instructions were given on inviting international consultants into this process, increasing capital and attracting additional investments in banks.