Uzbek Industrial and Construction Bank (Uzpromstroybank)
Full trade name: Joint stock commercial bank “Uzbek Industrial and construction bank”
Short trade name: JSCB “Uzpromstroybank”
JSCB “Uzpromstroybank” is one of the oldest financial institutions in the Republic of Uzbekistan. Its history dates back to opening of Middle Asian Bureau of Industrial Bank in Tashkent in 1922.
Main largest shareholders of the Bank: Ministry of Finance of the Republic of Uzbekistan, Fund for Reconstruction and Development of the Republic of Uzbekistan, as well as enterprises of key branches of economy.
Other shareholders of JSCB “Uzpromstroybank” include: JSC Uztransgaz, Private enterprises “PHARMED”, Bukhara oil refining factory, Fergana oil refining factory, Unitary Enterprise “Tashkent Thermal Power Plant”, JSC “Absolute Investments Trust”, Unitary Enterprise “Talimarjan Thermal Power Plant”, SJSC “Uzbekenergo”, JSC “Asset Invest Trust”, SJSRC “Uzbekiston Temir Yullari”, UBE “Shurtan Gas-Chemical Complex”.
In accordance with the implementation of business plans for the previous reporting years: for 2014, 2015, 2016 gg. And the strategic development plan for 2016-2019, JSCB "Uzpromstroybank" on the results of the year the expected financial results were achieved and the set goals were achieved.
Based on the results of activities for the period from 2014 to 2016, JSCB "Uzpromstroybank" ensured the implementation of the revenue side of the budget and the profits provided by the Business Plan and the strategic plan. The Bank ensured the growth of incomes and profits for the previous years.
JSCB “Uzpromstroybank” was established in 1922 as an Industrial Bank. In 1991 the bank reformed into joint-stock commercial. In 2009 trade name was changed into open joint-stock commercial bank “Uzbek Industrial-Construction Bank” (JSCB“Uzpromstroybank”)
Names of higher organizations:
- Cabinet of Ministers of the Republic of Uzbekistan
- Ministry of Finance of the Republic of Uzbekistan
- Central Bank of the Republic of Uzbekistan
Object and targets of the Bank:
On the basis of Law of the Republic of Uzbekistan № 216-1 of 25 April 1996 "Banks and Banking Activity" - "The Bank - is a legal entity, and a commercial organization which carries out all of the following activities, defined as a banking activity:
- acceptance deposits from individuals and legal entities, and using taken funds for lending or investing at own risk;
- making payments, correspondingly, the object and purpose of the Bank is a bank loan and deposit in the form of cash, and the purpose of banking activities - making a profit.
JSCB "Uzpromstroybank" - an organization that operates under license of the Central Bank of Uzbekistan, created to raise funds and placing them on his behalf under the terms of repayment, and urgency. The main purpose of the bank - Mediation in the movement of funds from lenders to borrowers and from sellers to buyers. The Bank is a commercial entity, i.e. organizational form, which aims to make a profit. The Bank differentiates assuming unconditional commitment to a fixed amount of debt to individuals and legal entities in the form of percentage.
Development strategy of the Bank
Development strategy of Uzpromstroybank directed on performance government programs, a set of concrete measures to implement the most important priorities of socio-economic development, ensuring high and sustainable rates of economic growth, its efficiency and macroeconomic balance, the full participation of the bank in the continuation and deepening of reform, renewal and modernization of the country, participation in the structural transformation of the economy, the implementation of investment projects on modernization, technical and technological re-equipment basic industries.
The development strategy includes:
● Involvement of private investors in bank stock
● Expansion of investment activity for the implementation of strategically important projects.
● Restore activities of financially unstable and economically insolvent enterprises, followed by a strategic investor.
● development of international activities
● Information Database Modernization
● Development of new forms of retail financial services
● Expansion of banking services in the insurance and leasing activities
● Maintain a high rate of bank capitalization
Relations with other government organizations:
The followings are the government agencies that cooperating with JSCB "Uzpromstroybank":
Central Bank of the Republic of Uzbekistan, Ministry of Finance, Fund for Reconstruction and Development of the Republic of Uzbekistan, enterprises and organizations "Uzbekneftegaz", "Uzbekenergo", SJC "Uzkimyosanoat", Center for Coordination and Control over the Securities Market under the State Property Committee of Uzbekistan, Uzbekistan Banking Association, Ministry of Justice of the Republic of Uzbekistan, Economic Court, Uzbek Republican currency Exchange, RSE Uzbekistan.
Information about the organizational structure, divisions, branches, and representative offices of the bank:
Structural and functional construction of Uzpromstroybank linked with the problems, solved by the bank, development prehistory, and other individual characteristics. The management structure of the Bank allows the management in accordance with the nature and scope of the operations.
The supreme governing body is the assembly of shareholders of the Bank. Council of the Bank controls and provides overall management of the bank in the period between meetings of the founders. Executive body of the Bank is Management Board, led by Chairman of the Board, his deputy.
The composition of the Management Board consists of the heads of the main structural units of the bank.
Following committees control the activities of the Bank: the Audit Committee, Credit Committee, Asset and Liability.
The bank has 44 network branches throughout the country.
The Bank has a representative office in Russia (Moscow).
The history of international correspondent banking JSCB "Uzpromstroybank" starts with the beginning of the 90s and today it has an extensive network of correspondents, allowing it operatively perform upon customer request in all calculations made in international banking practice forms and effectively serve the export-import operations. Additionally, as one of the most successful, recognized overseas banks in the country, it offers its customers expert counseling, and if necessary, develops individual payment schemes.
Rewarding by the leading banks in the world indicates the high reputation of JSCB "Uzpromstroybank" in international financial markets. In 2010, the Bank was awarded by Citibank NA "For the excellent quality of the executed international payments in United States dollars» (Quality Recognition Award), 2012 "for long-term cooperation» (Long-Standing Partnership Award) and in August 2014 award Commerzbank AG «for great partnership in the field of documentary operations in 2013 » (Trade award, excellent partnership of the year 2013).
Along with these factors taken into consideration that the Bank "Uzpromstroybank" is a state-owned bank and plays an important role in the financial support of the domestic corporate sector in the basic sectors of the economy, has a very high potential for timely and complete fulfillment of its financial obligations to creditors, depositors and investors. Also takes into account the bank's strong position in the domestic market and the possibility of further strengthening due to good growth prospects, the improvement of the macroeconomic situation and the strong public support.
Information about the Bank
As one of the leading universal banks of the Republic of Uzbekistan, JSCB "Uzpromstroybank" finances large investment projects and the basic sectors of the economy, small business and entrepreneurship, as well as provides a wide range of retail services.
The main largest shareholders are the Ministry of Finance of the Republic of Uzbekistan. Fund for Reconstruction and Development of Uzbekistan, as well as enterprises of basic industries.
JSCB "Uzpromstroybank" contributes to building a unique and important for the country objects petrochemical, biochemical, oil and gas industry, gas-chemical complex, finances production and transportation of oil, mineral and natural resources, energy, gas, chemical, light industry, construction sector, mechanical engineering and transportation.
Joint Stock Commercial Bank «Uzbek Industrial and Construction Bank" defines its mission as a financial institution, actively taking part in the processes of structural reforms with own capital, implementation of investment projects on modernization, technical and technological re-equipment of the basic branches of economy of the republic.
The Bank promotes ensuring project financing programs for the modernization, reconstruction, technical and technological renewal of oil and gas production, chemical, power and other priority industries; attracting the necessary expansion of credit resources for financing of implemented investment projects, as well as through cooperation with international financial institutions and leading foreign banks; improvement the mechanisms of selection, integrated assessment and examination of investment projects on the basis of in-depth analysis, delivering improved technological level of production, as well as the organization in a systematic way of retraining and advanced training of bank employees on the implementation of investment projects.
In order to maintain a competitive position of a modern universal bank JSCB "Uzpromstroybank" involves the creation of a system, resistant to possible changes in the relevant market conditions, both in the Republic and abroad, through the optimal allocation proportions between the work with both corporate and private clients.
Realizing its mission the JSCB "Uzpromstroybank" strives for achieving the highest level of revenue and profitability while respecting adequacy norms liquidity and fair treatment to all clients.
Confirmation by Ahbor-Reyting rating agency of JSCB “Uzpromstroybank” credit rating on a national scale at the "uzA +" level with the forecast “Positive” became a natural result of recognition of bank’s activity in 2013.
Also International Rating Agencies confirm the stable development of the bank. Having great authority in the world, the international rating agency «Fitch Ratings» reaffirmed Uzpromstroybank’s rating at "B+/B" with “stable” outlook. This year, another reputable rating agency «Standard & Poor's» rated "UzPSB" international rating with "stable" outlook.
Clients serviced by the Bank cover all sectors of the economy. The total customer base of the bank has millions of customers, both corporate and private.
More than 50 kinds of traditional banking services and other types of modern banking products are granting for customers by Uzpromstroybank.See more