BAKU, Azerbaijan, July 23
By Ilkin Seyfaddini - Trend:
Foreign Kito Investments Ltd company (registered in Singapore) is putting up for sale its share in Uzbek Savdogarbank in the amount of 18.6 percent of the bank's authorized capital, Trend reports citing the Toshkent Republican Stock Exchange.
The package of ordinary shares of the bank is offered for 12.1 billion soum ($1.1 million), on the basis of 50 soums per share.
Savdogarbank was founded in 1994. In 2005, German R&D Express-Aussenhandels bought 40 percent of shares. Also among the foreign shareholders is All Americas International Inc. (US) and Astrata AG (Switzerland).
The bank now has 22 branches, 74 points and 16 mini-banks. The bank also has a subsidiary insurance company Garant Insurance Group.
Today, the following commercial banks with foreign capital are operating in Uzbekistan: JSCB Savdogar, JSCB Hamkorbank (International Finance Corporation (IFC) and Dutch Bank (FMO), JSC KDB Bank (South Korea), JSC Ziraat Bank (Turkey), subsidiary bank of Bank Saderat (Iran), Tenge Bank (Kazakhstan) and others.
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