DEC. 12 2022 (The Bulletin) — Hungary’s OTP Bank completed a deal to buy Uzbekistan’s Ipoteka Bank for an undisclosed amount, nine months after shelving the purchase because of the impact of Russia’s invasion of Ukraine. Ipoteka, Uzbekistan’s largest mortgage lender, is the first bank to be sold by the Uzbek government to a foreign bank.
ENDS
— This story was published in issue 531 of the Central Asia & South Caucasus Bulletin, on Dec. 19 2022
— Copyright the Central Asia & South Caucasus Bulletin 2022