Uzbekistan Industrial and Construction Bank – SQB organized the Investors Day.

The event was attended by representatives of such large banking, financial, and investment companies as the International Finance Corporation, the European Bank for Reconstruction and Development, JP Morgan Chase (USA), ICBC Standard PLC, ImpactA Global, and Khumo 7 Consulting (UK), Commerzbank, KfW IPEX- Bank GmbH, Landesbank Baden-Wurttemberg and Deutsche Bank (Germany), Raiffeisen Bank International (Austria), French Development Agency, Rothschild &Co and Natixis (France).

A presentation of the activities of SQB took place. The guests were acquainted with the results of the transformation carried out as part of the Strategy for Reforming the Banking System of the Republic of Uzbekistan for 2020-2025 in corporate governance, retail, small and medium-sized businesses, branch network management, IT, transactional business, risk management, and green banking. Talks were held on introducing modern solutions to the bank system, attracting promising investors that can positively affect the efficiency of financial and human resources, and creating an even more efficient infrastructure with their help.

During the events, representatives of JP Morgan Chase organized a session dedicated to integrating Uzbekistan’s banks into the global capital market. It was noted that the results of the government’s deep structural reforms at a new stage in the development of Uzbekistan, including economic reforms, received special recognition from the world community. It was especially emphasized that there is great potential in the development of one of the main sectors of the economy – the capital market in Uzbekistan, in connection with which foreign partners expressed their readiness to assist market participants in introducing best practices in this area.

The parties defined further plans to enhance collaboration and reached several agreements. Agreements worth almost $32 million were signed between SQB and foreign banks, including a loan agreement for 15 million euros signed with Raiffeisen Bank International. An agreement was reached with the ICBC Standard PLC bank on attracting a short-term interbank loan denominated in the national currency equivalent to $15 million.

UzA