JSC Xalq Bank: the era of changes and development
In order to strengthen its position in the financial market of Uzbekistan, JSC Xalq Bank is actively pursuing innovations in improving the quality of financial services according to international standards in 2019. In other words, the bank is self-renewing and transforming sequentially.
In order to strengthen its position in the financial market of Uzbekistan, JSC Xalq Bank is actively pursuing innovations in improving the quality of financial services according to international standards in 2019. In other words, the bank is self-renewing and transforming sequentially.
Moreover, the effect of such changes manifests itself in the growth of the share capital of the JSC Xalq Bank. The share capital of the bank increased by 227.9 million USD. Today, this amount equals to 4 230.9 billion UZS. This figure was 1 540.3 billion UZS in the same period last year.
The Fund for Reconstruction and Development of the Republic of Uzbekistan has purchased 2 164 172 thousand ordinary shares with 1 000.0 UZS face value of the JSC Xalq Bank, accordingly, the share of the Fund in the share capital increased from 38.8% to 70.1%.
The Agency for the Management of State Assets of the Republic of Uzbekistan owns the remaining shares of the bank and the Agency share in the share capital accounts for 29.9 %.
Farkhod Salamov has been appointed Chairman of the Board of the JSC Xalq Bank recently. Prior to that, he was Deputy Chairman of the Board of the bank. Farkhod Salamov had worked for one of the largest bank “U.S. Bancorp” as an executive director in the USA.
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