According to the company, Kafolat purchased shares of Bank Ipak Yuli with total nominal volume of 2.78 billion soums.

In the result, the share of Kafolat in the charter capital of Bank Ipak Yuli reached 13.34%, the Uzbek company stated.

Kafolat was founded in 1997 in line with the decision of government of Uzbekistan. Currently, Kafolat is an insurance company of universal type and offers over 30 types of insurance. The company has 14 branches in the country’s all regions, a network of branches and representative offices.

Bank Ipak Yuli has been founded on 23 April 1990. According to the bank, the charter capital of Bank Ipak Yuli made up 29 billion soums.