Uzbekistan: new requirements set for local banks

Minimum authorized capital for each newly established commercial bank in Uzbekistan will be 100 billion soums starting from October 1. According to the decree of the country’s President Shavkat Mirziyoyev “On measures to further develop and improve stability of Uzbek banking system”, the banks operating in Uzbekistan must bring their authorized capital, if necessary, to…

Azerbaijan: Fitch to upgrade IBA’s ratings

Fitch Ratings, the international ratings agency, said that it had withdrawn International Bank of Azerbaijan’s (IBA) $500 million senior unsecured notes following the completion of the bank’s debt restructuring and the settling of the issue on September 1. The agency has not yet rated the new $1 billion senior notes due 2024 issued in part…

Ukraine: NBU allows providing hryvnia loans against collateral of foreign currency on customers’ accounts

The National Bank of Ukraine (NBU) has allowed banks to provide loans in domestic currency against the collateral of foreign currency on customers’ accounts. This has been reported by the press service of the central bank. “As part of further relaxations of anti-recessionary foreign exchange restrictions, the National Bank of Ukraine has allowed banks to…

Azerbaijan: assets of AtaBank OJSC up

Assets of Azerbaijan’s AtaBank OJSC have increased by 30%, to 609.9 million manats since the beginning of 2017, said Chairman of the bank’s Executive Board Dayanat Guliyev. He made the remarks at the signing ceremony of a partnership agreement with the Chinese UnionPay in Baku. “AtaBank is one of the country’s leading banks in terms…

Latvia: most residents to have access to fast transactions

Soon Latvian residents and businesses will be able to perform most transactions within seconds, Swedbank representatives promise. This will be made possible thanks to lightning-fast or electronic transaction system between European banks. Multiple Latvian banks intend to join this system. Swedbank predicts that Latvian residents will like this, seeing as how they have already gotten…

Ukraine: NBU buys $44 million

The National Bank of Ukraine (NBU) at the foreign exchange auction on August 17 bought $44 million, according to the press service of the central bank. As a result of the auction, the minimum exchange rate of hryvnia was UAH 25.5 per U.S. dollar, the maximum – UAH 25.5195 per U.S. dollar, and the average…