BAKU, Azerbaijan, April 7
Trend:
Uzbekistan’s Halk Bank has recently signed a loan agreement with Sovcombank of Russia during the INNOPROM International Industrial Exhibition in Tashkent, Trend reports on April 7 citing Dunyo news agency.
The loan amount is 418.9 billion Uzbek soums (about $40 million). It has been issued for a period of four years.
Joint-stock commercial Halk Bank ("People's Bank") is one of the oldest and biggest banks in Uzbekistan.
The bank has been assigned by Fitch Ratings and S&P with BB- / BB- international ratings, along with the country’s rating of the Republic of Uzbekistan.
Sovcombank PJSC is a universal Russian bank with assets worth 1.5 trillion rubles ($19.3 billion) upon the International Financial Reporting Standards (IFRS). Some 17,000 employees work in 2,334 branches and mini-offices.
The bank's credit ratings on the international scale are BB, outlook positive (Standard & Poor’s), Ba1, outlook stable (Moody’s), BB +, outlook stable (Fitch Ratings).
International Industrial Trade Fair “Innoprom. Big Industrial week in Uzbekistan” is being held for the first time in Tashkent on April 5-7.
More than 300 industrial companies and business delegations from Russia, Uzbekistan, Armenia, Belarus, Germany, Kazakhstan, Kyrgyzstan, France, the Czech Republic, and Japan are taking part in the exhibition and business program.
The organizers are the Ministry of Industry and Trade of Russia and the Ministry of Investments and Foreign Trade of Uzbekistan.
