• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12768.26
    • RUB162.63
    • EUR14400.04
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +31°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Uzbekistan World Finance

    Uzbekistan's SQB bank to attract $3.1bn from international financial market in 2024

    Uzbekistan's SQB bank to attract $3.1bn from international financial market in 2024

    SQB, one of Uzbekistan's leading banks, plans to attract $3.1 bn from the international financial market in 2024, as it was reported by the presidential press service on May 2.

    Photo: SQB, one of Uzbekistan's leading banks
    Source: National Information Agency of Uzbekistan

    The press release underscored the impressive growth trajectory of Uzbekistan's banking sector over the past five years. During this period, the capital of banks has doubled, showcasing robust financial health and increased investor confidence. Additionally, the loan portfolio of these banks has grown by 2.3 times, while the volume of annual lending has surged by 1.8 times. This expansion underscores the banks' pivotal role in supporting the country's economic development through enhanced lending activities.

    A notable achievement for Uzbekistan's banking sector has been the successful issuance of Eurobonds by four banks, which collectively raised $1.3 bn. Furthermore, in the previous year, banks in Uzbekistan attracted foreign loans totaling $3.8 bn. In a testament to their growing credibility and financial strength, large clients of these banks also directly secured $6 bn in foreign loans without requiring government guarantees.

    Looking ahead, SQB has laid out ambitious plans to attract an additional $2.8 bn in foreign investment during 2024-2025. These funds are earmarked for the development of 529 projects within the building materials industry. The implementation of these projects is projected to create 25,000 new jobs.

    Earlier Daryo reported that Uzbekistan's banking sector privatization, particularly regarding SQB, faces delays. Chairman of the Central Bank of Uzbekistan, Mamarizo Nurmuratov cited hurdles in transforming corporate governance within SQB, crucial for its privatization. Efforts, led by international financial institutions like the IFC, EBRD, and ADB, are underway. Nurmuratov stressed the need for training personnel to meet global banking standards, including risk-based supervision. Additionally, Uzbekistan's inclusion in a list of countries with sanctions risks complicates matters, deterring potential investors. Despite challenges, Nurmuratov reaffirmed the priority of selling state-owned banks to strategic investors with banking expertise.

    Follow Daryo's official  Instagram  and  Twitter  pages to keep current on world news.

     
    22.05.2024, 00:21   Comments (0)   2720
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Uzbekistan's SQB inks €75mn deals with European banks at Euromoney Forum

    19.01.2024, 18:25

    Uzbekistan bank privatization: Deputy Prime Minister and expert Tsarev weighs in on reform efforts

    16.04.2024, 22:06

    Uzbekistan’s Central Bank reveals SQB and Asakabank privatization delays

    25.04.2024, 23:56

    Gambia sues Indian makers over Dok-1 Max death of 69 children 

    21.05.2024, 23:07

    Uzbekistan's capital to transition to state health insurance mechanism in 2024

    21.05.2024, 22:33
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Beeline Uzbekistan started 2025 with a significant network modernization


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp

     

    Recommended

    "We wouldn’t have won without U.S. aid" – The hidden truths behind the USSR’s World War II victory

    12 May, 15:39

    Uzbekistan's banking deposits surge to $25.2bn in March

    8 May, 17:24

    Uzbekistan to host 59th ADB Annual Meeting in Samarkand for second time

    8 May, 11:26

    Uzbekistan sees rise in cross-border travel as outbound tourism jumps 20%

    7 May, 12:38
     
     
     

    Latest news

    Uzbekistan launches youth campaign 'Land of Talents' with mass events in Tashkent

    Uzbekistan | 1 June, 13:31

    Uzbekistan finalizes WTO accession talks with UK

    Uzbekistan | 1 June, 11:00

    Kazakhstan weighs China’s $5.47bn nuclear offer over Russia’s costlier bid

    Kazakhstan | 31 May, 15:45

    “Uzbekistan could have gone to war with neighboring countries" – says Abdulaziz Kamilov

    Uzbekistan | 31 May, 12:06

    President of Uzbekistan proposes “Central Asia–Italy” business club to boost cooperation

    Uzbekistan | 31 May, 10:01

    Kyrgyzstan open to global cooperation in fintech and digital economy, says PM Kasymaliev

    Kyrgyzstan | 30 May, 17:39

    Tashkent ranks among Central Asia’s top 3 cities in Global Cities Index 2025

    Uzbekistan | 30 May, 15:07

    Uzbeks migrating to Khanty-Mansi region are returning to their ancestral lands, says Russian MP

    Uzbekistan | 30 May, 14:00
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.