Uzagroexportbank, a joint stock commercial bank, will be created in Uzbekistan to support manufacturers and exporters in the agricultural sector, according to the decree of the Uzbek President Shavkat Mirziyoyev. The founders of the newly established bank with an initial registered capital of 10 million euros will include the Fund of the Reconstruction and Development…
Russian banks share in Kazakhstan’s banking sector is decreasing, Kazakh Finprom.kz analytical center said in a message. The share of Russian banks in the deposit portfolio of Kazakh banking sector decreased from 10.8% to 8.1% in November 2015 – November 2016, in loan portfolio – from 9.6% to 8.1%. This reduction mainly resulted from the…
The National Bank of Georgia increased its key rate by 25 base points to 6.75% and announced further “gradual” tightening of the monetary policy in the course of the next two quarters. NBG said in a statement that “the decision is based on macroeconomic forecasts,” according to which, NBG expected that this year’s inflation rate…
The Independent Association of Banks of Ukraine (NABU) opposes political pressure on the National Bank of Ukraine (NBU) and blocking of collection of debts from former owners of bankrupt banks against whom lawsuits were filed. “The association addresses Ukrainian President Petro Poroshenko, Prime Minister Volodymyr Groysman and Parliament Speaker Andriy Parubiy asking to guarantee independence…
Money supply in Ukraine in December 2016 increased by 5.4%, to UAH 1.102 trillion, according to preliminary monetary statistics data, posted on the website of the National Bank of Ukraine (NBU). In addition, the amount of cash last month grew by UAH 25.7 billion (8.9%), to UAH 315.175 billion. The annual rise was 11.5%. According…
PC Bank (People’s Capital Bank, Kyiv) with largest shareholders as of early December 2016 Russian citizen Valery Makarenko (14.24%), Svitlana Ostapenko (9.84%), Ruslan Parkhomenko (9.68%), Oleksiy Yaroshenko (9.07%), Oleksandr Voroniak (8.6%) and Oleh Lutsky (8.07%) could be liquidated under an initiative of its owners. The issue was put on the agenda of an extraordinary general…
The assets of Ukraine’s banking system by the end of 2017 will amount to UAH 1.5-1.6 trillion (as of October 1, 2016 some UAH 1.27 trillion), while the number of banks will not exceed 75-80 against 95 currently operating, former deputy head of the National Bank of Ukraine (NBU) Vladyslav Rashkovan forecasts. “It remains to…