Officials of the Central Bank hosted the head of the Global Business Development Department executives of Shinhan Bank, Kim Ji-young.
During the meeting, Kim Ji-young provided an overview of the bank’s recent portfolio and shared plans to expand and strengthen its presence in Uzbekistan’s banking sector in the near future.
While, the Central Bank officials outlined the process for opening banks in Uzbekistan and the regulatory requirements established by national legislation.
“Additionally, opportunities for business development in the local market through the acquiring of state-owned banks were discussed,” the statement said.
In August 2009, the Central Bank granted Shinhan Bank accreditation to open a representative office and a permit for operations in Uzbekistan.
At the end of December 2024, the President once again postponed the deadlines for privatizing shares in three state-owned banks. The sale of Uzbek Sanoatqurilishbank, Aloqabank, and Asakabank is now planned for completion before 2026.
A part Shinhan Financial Group, Shinhan Bank was originally founded as Hansung Bank in 1897 and was rebranded in 1982. It is one of South Korea’s oldest financial institutions.
