Pakhta Bank

Last year saw a rapid expansion in the programme of opening sub-branches, or mini-banks, which now total more than 300. This policy is a part of a long-term strategy to attract new clients and provide qualified services to new small collective farms, established as a result of the reorganisation of large agricultural entities. “We see this as a prospective growth market and we will continue to focus on it,” says Kobiljon Toshmanov, Pakhta Bank’s chairman. “Thanks to this policy, we have increased our market share in collective farms to 60%, with very good results. Another important achievement for the year was a review of our risk management strategy to bring it up to international standards.” The banks set up a centre for risk management that monitors the risks in all stages of the life of credit. In addition, it separated its independent structure from the department of internal audit, which is under the supervision of the bank’s Council and performs continuous independent assessments of its credit portfolio. “On the technology front, we kept up efforts to reduce transaction costs and increase the rate of straight-through processing,” says Mr Toshmanov. The bank implemented an integrated managerial information system, giving it the opportunity to improve the quality of services, while reducing costs and transaction time.”

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