On February 13, the President of Uzbekistan, Shavkat Mirziyoyev, welcomed Sándor Csányi, the chairman of the board of Hungary's largest bank, OTP, to discuss avenues for bolstering bilateral cooperation, Uzbekistan's presidential press service reported.
During the meeting, both parties expressed satisfaction with the positive momentum in banking and financial collaboration, particularly highlighting the successful sale of the state's stake in Ipoteka-bank to the OTP group.
Beyond the realm of banking, discussions also delved into further deepening cooperation across various sectors, including agriculture, winemaking, irrigation, chemistry, and pharmaceuticals. The engagement extends to leading Hungarian companies, with plans to leverage the establishment of a special economic zone in the Tashkent region to facilitate collaborative ventures.
Additionally, the Central Bank of Uzbekistan hosted a meeting with the management of OTP Bank Group on February 13, as well. Sándor Csányi, the CEO of OTP Bank Group, received detailed insights into the experiences of credit institutions and the microfinance services market in Uzbekistan during the session. The delegation from OTP Bank Group also had the opportunity to pose specific questions, receiving comprehensive responses from the Central Bank officials.
Notably, Sándor Csányi, was honored with the Order of Dustlik by the President of Uzbekistan on August 25, 2023. Prior to this meeting, President Shavkat Mirziyoyev held discussions with Sándor Csányi during their encounter in Budapest on August 20, 2023, further solidifying the bonds between Uzbekistan and OTP Bank Group.
Earlier Daryo reported that Uzbekistan's prominent financial entity, Ipoteka-Bank, has disclosed an infusion of $70 mn in additional capitalization from its primary investor, OTP Bank. This strategic decision has resulted in OTP Bank's stake in Ipoteka-Bank's authorized capital rising from 75% to 79.6%.
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