Investment Proposal for Investors
State-owned share of Joint-Stock Commercial Alokabank in the amount of 47.5% stake is being offered for sale to Strategic Foreign Investors Starting price of the state share is 42,7 million USD (9,62 cent per stock).
Tashkent, Uzbekistan, March 22, 2016 (Newswire.com) - State-owned share of Joint-Stock Commercial Alokabank in the amount of 47.6% stake is being offered for sale to Strategic Foreign Investors according to the Decree by the President of the Republic of Uzbekistan dated April 28, 2015 No 2340 “On Measures Aimed at Increasing the Share and Significance of the Private Property in the Economy”. Starting price of the state share is 42,7 million USD (8,67 cent per stock)
JSC Alokabank was established in accordance with the Resolution of the Government of the Republic of Uzbekistan in 1995. During its 20 years of activity, wide range of reforms were performed on increasing the bank`s assets, expanding the spectrum of its services and creating the system based on the modern banking techniques and technologies.
As a result, the bank has been growing steadily and become a loyal and trusted partner for its clients. Though the bank was initially established for the purpose of financial support, modernization and development of the telecommunication networks, it currently provides the customers with all kinds of banking services based on international practice, in national and foreign currencies.
The recent analysis of the bank’s activity for the last 20 years indicates that successful reforms resulted in effective increase of assets to the current 433.40 million USD, from the initial 8.45 million USD in 1995, and the loan portfolio in the amount of 2.82 million USD has reached to 337.27 million USD, the equity capital in the amount of 0.56 million USD has grown to 66.62 million USD, and finally the authorized capital in the amount of 0.28 million USD has become 38.0 million USD.
The positive results and the pace of the stable growth achieved by the bank, are highly appreciated and recognized by national and international rating agencies. Moody's Investors Service has been affirming the outlook of Alokabank’s ratings as “Stable” for seven consecutive years.
The bank's priority plans for near future are to increase bank’s capital, to improve the quality and profitability of assets and to achieve stable growth in all indicators of the bank.
Dear investors!
Uzbekistan has and always keeps improving very positive investment climate with many tax benefits and preferences for foreign investors.
If you are interested, please contact us by phone: (998 71) 232-83-64. For more information please visit our website: www.aloqabank.uz.