Posted by: 25 december, 2023
OTP Bank, which is involved in the privatization of our country's banking sector, has acquired 75% of the shares of Uzbekistan's largest financial services provider, JSCMB Ipoteka Bank, previously owned by the Ministry of Economy and Finance of the Republic of Uzbekistan. OTP Bank has increased the charter capital of JSCMB Ipoteka Bank by approximately 70.0 million US Dollars through direct investment, raising its ownership in the bank to 79.6%.
Under the purchase agreement between JSCMB Ipoteka Bank and OTP Bank, a total of 844,633,300,000 ordinary shares have been issued and placed in the bank as part of the 21st issue of shares.
As a result of this investment, the authorized capital of JSCMB Ipoteka Bank has increased by 28.3% to reach 3,834.2 billion soums. This, in turn, has a positive effect on strengthen the bank's position in our country's financial services market.
Under the purchase agreement between JSCMB Ipoteka Bank and OTP Bank, a total of 844,633,300,000 ordinary shares have been issued and placed in the bank as part of the 21st issue of shares.
As a result of this investment, the authorized capital of JSCMB Ipoteka Bank has increased by 28.3% to reach 3,834.2 billion soums. This, in turn, has a positive effect on strengthen the bank's position in our country's financial services market.
