CBU issues license to Royal Bank of Scotland O’zbekiston MB

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Finance 11/12/2008 CBU issues license to Royal Bank of Scotland O’zbekiston MB

Central Bank of Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- Central Bank of Uzbekistan re-instated license to ABN AMRO Bank NB Uzbekistan A.O. in connection with the decision of the shareholders to rename it into Royal Bank of Scotland O’zbekiston MB.

As earlier reported, renaming the bank is connected with purchase of ABN AMRO Bank by the consortium of Royal Bank of Scotland, Fortis and Santander.

ABN AMRO Bank was acquired by the consortium of Fortis, RBS and Santander in October 2007. On 3 October 2008, the Dutch state announced that it has bought Fortis Netherlands, including its interests in ABN AMRO.

The Dutch state de facto replaces Fortis as a stakeholder in RFS Holdings, which continues to manage ABN AMRO. RBS-bound businesses are not affected by this change.

Central Bank said it re-issued license of the bank in line with the resolution of the Cabinet of Ministers from 13 November 2008.

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