Uzbekistan’s Central Bank Integrates Raiffeisen Bank International
The Central Bank of Uzbekistan has officially opened correspondent accounts in both the national soum and foreign currencies for Raiffeisen Bank International AG (RBI). The national financial regulator announced the development via its official Telegram channel.
A spokesperson for the press service described the move as another vital stride in advancing Uzbekistan’s domestic financial market and successfully embedding it into the broader global financial architecture.
Providing account access to a prominent foreign lender is explicitly designed to accelerate investor engagement within the secondary market for government securities. Authorities expect that the resulting spike in trading volumes will be instrumental in accurately shaping the market yield curve.
Policymakers anticipate that this fresh influx of overseas capital will significantly expand the long-term financial resources available throughout the wider economy. Additionally, the subsequent rise in market liquidity is poised to heavily reinforce the Central Bank’s overarching monetary policy framework.
RBI operates as one of the premier banking conglomerates across Austria, Central Europe and Eastern Europe. The financial heavyweight currently serves a vast network of 18.6 mln customers. As of April this year, eight regional Raiffeisen branches maintain a 61.17% controlling stake in the enterprise while the remaining 38.83% of shares trade freely on the open market.
The group’s financial disclosures from the previous year revealed a consolidated profit exceeding €1.4 bn. Annual interest revenues experienced a 1% growth to reach €4.1 bn while commission-based income generated a further €2 bn.
