TKB invested over USD 100 mln into the economy of Uzbekistan

  • 27.05.2020
    Bank news

    Over the past year, TKB provided financing for agricultural export deliveries to Russia and Kazakhstan from Uzbekistan, as well as for the Uzbek import of food additives from Italy, pharmaceutical products from Slovenia, equipment from the Netherlands, vehicles and other equipment from Russia using various banking instruments, amounting to over USD 100 mln. TKB provided financing via arrangement of syndicated loan facilities and bilateral interbank loans granted to the largest Uzbek banks such as Bank Asaka, Xalq Bank, Agrobank, Mikrokreditbank, Qishlok Qurilish Bank, OrientFinansBank, InFinBank, Trustbank.

    “The recent economic reforms and liberalization of currency legislation in Uzbekistan are opening up new opportunities for expanding cooperation with the banking system of this country,” said Elena Shirinskaya, Deputy Chairman of the Management Board of TKB. - Moody’s, S&P and Fitch agencies assess the outlook on Uzbekistan's rating as “stable”.

    In February 2019, Uzbekistan issued the first ever Eurobonds totaling USD 1 bln on the London Stock Exchange. From July 2019 till February 2020, TKB arranged debut syndicated loan facilities for the state-owned banks Qishlok Qurilish Bank, Agrobank, Bank Asaka and Mikrokreditbank in the total amount of EUR 240 mln and USD 42 mln. 26 investors participated in these deals. Thus, total amount of investments into the Uzbek economy via trade finance instruments, bilateral loans and syndicated loan facilities arranged by TKB, exceeded USD 300 mln”.

    Financing of the economy of Uzbekistan is carried out within the framework of TKB’s program of comprehensive banking services for financial institutions from CIS/EAEU/SCO - “Bank for Banks”. TKB is the core partner of integrational processes EAEU and CIS. TKB created the outstanding ecosystem for interregional settlements within Central Asia. In 2019 TKB supported settlements under trade turnover of Uzbekistan for over USD 800 mln with the help of created settlement infrastructure.

    Information about TKB Group:
    TKB Group includes both TransKaapitalBank and Investradebank. TKB Group includes in among TOP-30 Russian banks and located in 31 regions of the Russian Federation. TKB’s strategic business lines are as follows: SME lending (TOP-15 Russian banks), mortgage lending (TOP-15 Russian banks), factoring and project “Bank for Banks” – Program of comprehensive banking services for financial institutions from countries – participants of EAEU/CIS/SCO. The program includes multicurrency settlements, treasury operations, trade finance and organization of syndicated loan facilities.

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