SOCIETY | 17:27 / 25.10.2024
1303
1 min read
UAE's Bond Investments acquires Poytakht Bank for $10 million
The UAE-based company Bond Investments has acquired full ownership of Poytakht Bank in Uzbekistan for $10 million.
The State Assets Management Agency (SAMA) confirmed that the transaction was finalized with a one-time payment arrangement.
Previously, Russia's Expobank had signed an agreement to privatize the state’s share in Poytakht Bank. However, due to changing international conditions, Expobank was unable to meet the terms of the agreement, leading to a mutually agreed contract termination.
Founded in 2017 by presidential decree, Poytakht Bank engages primarily in commercial banking, securities, currency exchange, and lending services.
Related News
20:35 / 16.11.2024
Kazakh tech giant Kaspi.kz withdraws from privatization bid for Uzbekistan’s Humo payment system
14:06 / 14.11.2024
Uztemiryolcontainer’s 35% stake sold for 200 billion UZS to Cotton Logistics
17:06 / 13.11.2024
Masdar to build new 1000 MW wind power plant in Uzbekistan
16:31 / 12.11.2024