Poytacht Bank

2024: Bond Investments Limited bought Poitacht Bank for $10 million

On June 25, 2024, it became known that Bond Investments Limited LLC from the United Arab Emirates acquired a 100% stake in the Uzbek Poitacht Bank. The transaction amounted to $10 million, and it was completed with the support of the State Asset Management Agency (AUGA).

According to the international business publication kursiv.media, earlier the agreement on the sale of Poitacht Bank was signed with the Russian Expobank, however, due to the international situation, the deal was terminated. After that, AUGA, with the support of a consultant Deloitte, continued to work with other potential investors.

𝓲

gazeta.uz

According to kursiv.media, Bond Investments' offer turned out to be the most profitable and exceeded the estimated value calculated by KPMG. The Deloitte consultant confirmed that the company and related individuals are not included in the sanctions lists of the EU, the United States and other international financial institutions. To complete the transaction, the investor will have to obtain permission from the Central Bank of Uzbekistan to purchase shares.

The AUGA noted that Bond Investments Limited LLC is one of the fastest growing investment companies in the UAE, operating in the structure of the holding company Das Holding. The group of companies has a wealth of experience in setting up and managing successful banks in the Emirates, including Islamic and digital banks. The investor plans to use this experience to develop the banking sector in Uzbekistan.

As part of the deal, Bond Investments has already prepared a comprehensive infrastructure development plan for Poytacht Bank, which includes the introduction of modern mobile and digital financial technologies. This should significantly improve the quality of the services provided by the bank and expand its opportunities in the market.^[1]

2021: Memorandum on the sale of the bank to Russian Expobank

In September 2021, the Agency for State Assets Management of Uzbekistan signed a memorandum with the Russian Expobank on the privatization of Poitakht Bank.

The document was signed as part of the economic forum in Tashkent.

Since the founding of 100% of the authorized capital of Poitakht Bank belonged to the state in the person of the khokimiyat of Tashkent.

In May 2021, AUGA announced the acceptance of applications for the privatization of the bank.

2017: Bank Creation

Poitakht Bank was created in 2017, according to the decree of the President of the Republic of Uzbekistan.