Ру | Uz

Ру | Uz

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Brief History:

The Bank was founded on April 23, 1990. Ipak Yuli Joint Stock Innovation Commercial Bank (the Bank) was founded in 1990 as a limited liability bank and obtained the USSR State Bank banking license No. 320 as of June 21, 1990.

1991
  • In October 1991, the Bank obtained General Foreign Currency License No. 2. After that the Bank has become active in establishing relationships with international traders and foreign banks.
1993
  • The Bank was one of the initiators to found the Currency Exchange Stock of the Republic of Uzbekistan, enabling the country to accelerate the process of foreign exchange turnover.
1994
  • "Navoiy" branch was opened in Navoiy city in March.
1995
  • The Bank started to offer to customers a new service, i.e. overdraft, enabling them to pay to offshore suppliers for imported goods and services.
1996
  • "Mirzo-Ulugbek" branch was opened in Tashkent city in March.
1997
  • According to the Financial Cooperation Agreement between the Government of the Federal Republic of Germany and the Government of the Republic of Uzbekistan, the Bank (along with other participating banks) has been allocated 3 financing tranches for development and support of small businesses in the Republic of Uzbekistan.
2000
  • Umarbank PCJSCB and Namanganbank JSCB decided by their good will to merge into Ipak Yuli Bank as its regional branches.
  • "Umar" branch was opened in Samarkand city in June.
2001
  • The Bank launched the European Bank for Reconstruction and Development micro-lending pilot program. The Bank’s first leasing deal.
2002
  • MoneyGram money transfer system was launched.
2003
  • "Urikzar" Branch was opened in Tashkent city in September.
2004
  • Consumer lending program was launched in retail outlets.
  • Anelik money transfer system was launched.
2005
  • “Bistraya Pochta” money transfer system was launched.
  • The Bank became one of the founders of Interbank Trade System.
  • The first issuance of local currency bank cards.
2006
  • The Bank signed the USD 1.3 mln Asian Development Bank (ADB) Project Agreement 1963-UZB – “Small and Micro-Financing Development. Phase 1“.
  • The Bank became one of the founders of Interbank Trade System.
  • The Bank received the first USD 2 mln financing line by the Islamic Corporation for the Development of the Private Sector.
  • "Yakkasaray" Branch was opened in Tashkent city in May.
  • The Bank became the associated member of Visa International.
2007
  • Commerzbank AG (Germany) and Raiffeisen Bank International AG (Austria) granted to the bank the trade finance lines.
  • UniStream and Western Union money transfer systems are launched.
  • Issuance of Visa Classic bank cards.
  • Internet Banking system was launched.
  • Ahbor-Rating IRC assigned to the bank the national rating “UzA”- high solvency level.
  • "Sagbon" branch was opened in Tashkent city in May. 
2008
  • "Shahrisabz" branch was opened in Shahrisabz city in June.
  • First issuance of the Bank subordinated bonds.
  • CONTACT, MIGOM, Blizko money transfer systems were launched.
  • The number of bank outlets increased up to 72.
  • The Bank became the Principal member of Visa International and China UnionPay payment systems.
2009
  • Trade finance line of Banque de Commerce et de Placements, Switzerland.
  • Golden Crown money transfer system was launched.
  • "Namangan" branch was opened in Namangan city in March.
2010
  • "Chilanzar" branch was opened in Tashkent city in January.
  • The Bank signed the USD 10 mln Asian Development Bank (ADB) 2634-UZB Project Agreement - «Development of Small and Micro-Financing. Phase 2".
  • The Bank signed the loan agreement with the Islamic Corporation for the Development of the Private Sector for the second USD 5 mln financing line.
2011
  • "Yangiyul" branch of the bank was opened in April.
  • Under the Landesbank Berlin AG credit line the Bank started to finance imports of fixed assets from European Union countries secured by Euler Hermes and SERV insurance.
2012
  • "Mirabad" branch was opened in Tashkent city in November.
  • The Bank became the official member of UnionPay International.
  • The Bank signed the Agreement to receive the 4th tranche of the German Development Bank KfW credit line.
  • The additional agreement was signed to receive the second ICD financing line. The total limit was increased up to USD 10 mln.
2013
  • On April 22, 2013 ADB bought the Bank shares and became the second top shareholder of the Bank.
  • Under the ADB Project Agreement "The Second Small and Micro-Financing Development Project" the Bank was given the re-allocated limit of USD 7 mln.
  • In March Moody’s international rating agency confirmed the Bank credit rating “B2”, Stable Outlook.
  • ADB approved the Bank’s participation in the new project "The Development of Small Business and Entrepreneurship".
  • ADB approved the USD 5 mln credit line for the Bank to guarantee trade finance deals.
2014
  • On June 24, 2014 the Bank signed the USD 8 mln International Development Association (IDA) Re-Financing Project Agreement “Support to Agricultural Enterprises. Phase II”.
  • The Bank continued to utilize the USD 25 mln credit line under the Asian Development Bank (ADB) Project “Small and Micro-Financing Development. Phase 3”.
  • "Kashkadaryo" branch was opened in Kashkadaryo city in June.
  • "Andijan" branch was opened in Andijan city  May.
2015
  • International Visa Platinum PayWave cards were issued.
  • On April 30, 2014 the EUR 10 mln Strutured Export Finance of the Major Loan Agreement between Commerzbank AG and Ipak Yuli Bank was signed.
  • On July 31, 2015 the USD 35 mln Syndicated Term Loan Agreement was signed by Netherlands Development Bank (FMO), German Investment Bank DEG (KfW Group), Triodossicav II – Triodos Microfinance Fund, and Ipak Yuli Bank.
2016
  • Since January the Bank has been implementing the “Single Point of Contact” project on redesigning customer service business processes at the branches of Tashkent City after that new practice was successfully launched at the Head Office in 2015.
  • Since January the Bank has been implementing the SAP project, the licenses were purchased by the Bank at the end of 2015 to improve the Management Information Systems.
  • In February the Bank has successfully passed the audit standards of PCI PIN Security Requirements 2.0.
  • In March the Bank launched online consumer banking with access to customer personal accounts.
  • In April the Bank opened the international card issuing center at the Andijan branch.
  • In July the Bank launched a new online service - Internet acquiring.
  • In July the Bank opened a new Shaykhantahur outlet in Shaykhantahur District of Tashkent City.
  • In August the Bank launched Ipak Yuli Club Co-Branding Loyalty Program.
  • In the 3rd quarter the Bank signed the Amendment to the Term Facility Agreement for USD 35 mln between Ipak Yuli Bank, Development Bank of the Netherlands FMO, German Investment Bank DEG and Microfinance Fund Triodos signed in 2015, whereas FMO has agreed to increase its commitment by an amount equal to USD 3 mln.
  • In November the Bank added to its product line a new online service - Ipak Yuli Mobile to render mobile banking to consumer clients.
2017
  • In March Ipak Yuli Bank was nominated as the “Largest Issuer of UnionPay Cards in Uzbekistan”.
  • On April 5, 2017 Asian Development Bank (ADB) and Innovative Commercial Bank "Ipak Yuli" signed the Project Agreement to make available a portion of the proceeds of the SDR 111 585,000 loan extended by ADB to the Republic of Uzbekistan under the Horticulture Value Chain Development Project. SDR (Special Drawing Rights) are artificial reserve and payment means issued by the International Monetary Fund (IMF). They have only a non-cash form as bank account records; no banknotes have been issued.
  • On May 17, 2017 Asian Development Bank (ADB) and Innovative Commercial Bank "Ipak Yuli" signed the Project Agreement to make available a portion of the proceeds of the USD 100 million loan extended by ADB to the Republic of Uzbekistan under the Small Business Finance Project.
  • In May, the independent international auditors certified by Visa International confirmed the compliance of the Ipak Yuli Bank’s information systems for international card issuing and servicing with the Payment Card Industry Data Security Standard (PCI DSS).
  • On May 22, 2017 Islamic Corporation for Private Sector Development (ICD) and Innovative Commercial Bank "Ipak Yuli" signed the USD 14 mln Line of Financing Agreement for the purpose of financing eligible projects sponsored by SME’s in the Republic of Uzbekistan.
  • In August, for the first time in Uzbekistan, Ipak Yuli Bank introduced the 3-D Secure Protocol for providing additional security to online Visa card transactions.
  • In September the Bank introduced a new online service enabling its customers to confirm their deposit account balances in local and foreign currencies by using bank applications "Online Access to Personal Accounts" and "Ipak Yuli Mobile".
  • "Shayhontokhur" branch was opened in Tashkent city in June.
2018
  • In January the bank launched online interbank P2P transactions via Ipak Yuli Mobile application using cards registered in the Interbank Universal Netting Information System (MUNIS).
  • In April, the Bank launched a new online service for legal entities and individual entrepreneurs – “Ipak Yuli Mobile Business” mobile application.
  • Ipak Yuli Bank organized the “2018 FIFA World Cup Russia™ with VISA International” promotion with VISA International.
  • Ipak Yuli Bank opened Foreign exchange offices at all the branches of the bank for purchase and sale of foreign currency.
  • From January, in order to implement the decree of the President of the Republic of Uzbekistan "On Priority Measures for Liberalizing Currency Policy" the conversion of foreign currency has become available for legal entities without any amount restrictions.
  • Ipak Yuli Bank has launched online purchase of foreign currency through "Ipak Yuli Mobile" mobile application.
  • Ipak Yuli Bank has launched online term deposit account opening for natural persons.