BAKU, Azerbaijan, Feb.24
By Natavan Rzayeva - Trend:
Russian Sovcombank PJSC acquired a 100 percent stake in Uzbek Uzagroexportbank for $4 million, Trend reports via Uzbek State Assets Management Agency.
The international Grant Thornton company was involved in the sale process as a consultant on privatization, the assessment was made by the international audit company KPMG.
Sovcombank is a universal bank, one of the ten largest banks in Russia. As of September 30, 2021, the bank's assets amount to 1.9 trillion rubles ($21.4 billion), the capital amounted to 224 billion rubles ($2.5 billion). The bank employs 23,000 employees in more than 2,300 offices located in Russia.
Uzagroexportbank was established in 2017 to create favorable conditions for producers of agro-industrial products and financial support for exporting organizations. The head office of the bank is located in Tashkent (capital of Uzbekistan). At the end of 2021, the assets of Uzagroexportbank exceeded 69 billion soums ($6.3 million).
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