On September 15-16, 2021 "Ipak Yuli" Bank held a Strategic Session to determine the main directions of development for the next 3 years. The session was attended by representatives of shareholders, members of the Supervisory Council, the Management Board, heads of business areas and branches of the Bank.

For the first time, the Bank held such a major strategic session with the active participation of foreign shareholders represented by the DEG, the German Development Finance Institution and the Dutch Triodos Investment Management (Triodos IM), which made investments in the Bank in 2020. During the session, participants discussed the development of the banking and financial sector of Uzbekistan, current activities and main market positions of the Bank, as well as development prospects of Ipak Yuli for 2022-2024.

As part of the Strategic Session, representatives of foreign shareholders of the Bank shared their forecasts and expectations on strategic development issues.

Susanne Decker – DEG shareholder representative: "This is the first time we have met in an extensive format since the pandemic, because we are facing the issue of further strategic development of the Bank. Our aim is to provide technological steps and development of new banking products and at this stage we are discussing further support, in terms of increasing the Bank's capital, to strengthen the position of Ipak Yuli in the banking sector and provide opportunities for further growth."

Rosanna Sarkeyeva - Triodos IM shareholder representative: "The meeting and discussion which took place is useful for the bank. First of all because growth opportunities in Uzbekistan are quite extensive and deep. We expect that the resulting strategy will allow "Ipak Yuli" Bank to continue to grow steadily in the market, expand its product line and differentiate itself as a bank that provides high quality services to small business clients and supports private sector development through access to financial services."

In addition, during the visit to Tashkent, representatives of DEG and Triodos IM also held a meeting with the Central Bank of the Republic of Uzbekistan. During the meeting, participants held a discussion on the latest trends and developments in the banking sector of the country, as well as investor plans for additional investments in the upcoming future.

An important task of this event was also the formation of a corporate culture that would embody the strengths and advantages of the Bank. 

Discussion of the Bank's strategy and determination of growth directions with representatives of foreign shareholders and involvement of foreign experts will allow the Bank to adopt the best international practices in the banking sector, in honesty in the field of corporate governance.

DEG - Deutsche Investitions- und Entwicklungsgesellschaft

For almost 60 years DEG, a subsidiary of KfW, has been a reliable partner to private-sector enterprises operating in developing and emerging-market countries. DEG provide its customers with tailor-made solutions, including financing, promotional programs and advice tailored to individual needs. They can thus develop successfully and sustainably, while generating local added value and creating qualified jobs. With portfolio of around EUR 8.5 billion in approximately 80 countries DEG is one of the world’s largest private-sector development financiers.

More at: www.deginvest.de 

Triodos Investment Management

Triodos Investment Management (Triodos IM) connects a broad range of investors who want to make their money work for lasting, positive change with innovative entrepreneurs and sustainable businesses doing just that. In doing so, Triodos IM serves as a catalyst in sectors that are key in the transition to a world that is fairer, more sustainable and humane. It has built up in-depth knowledge throughout 25 years of impact investing in sectors such as Energy & Climate, Financial Inclusion and Sustainable Food & Agriculture, and also invests in listed companies that materially contribute to the transition toward a sustainable society. Triodos IM is a globally active impact investor with 750+ investments in over 50 countries with EUR 6 billion in assets under management (June 2021). It is a wholly owned subsidiary of Triodos Bank NV, which was founded in 1980 and is a leading expert in sustainable banking. 

Learn more: www.triodos-im.com