New appointment is connected with significant dynamic and plans on increasing the bank’s operations, expansion of regional presence and development of the business. It will also strengthen and improve works of all divisions of the bank in line with the best international standards.

In line with the press release, Umidjon Vohidov has been appointed at the head of Department on banking risks of Universalbank.

Umidjon Vohidov has been working in financial sector since 2001. He started his banking career at the Asian Development Bank. He has work experience at the international financial organization. Vohidov will be responsible for introduction and support of banking risks management in line with Basel Committee requirements.

In summer 2010, Universalbank started wide-scale re-structuring of its divisions directed at strengthening corporate management, controlling operational risks, increasing market share.

New team will give impulse to further improvement of the bank. New manager has experiences in re-structuring processes.

In line with the bank’s strategy, Universalbank intends to become one of the leaders among medium-size banks, focusing to serve small and medium businesses, as well as serving individuals. Currently, the bank has operational department in Qoqand city and Tashkent city branch.

Universalbank private open joint stock commercial bank was founded on 25 May 2002 with charter capital of 0.05 billion soums on the base of Qoqand private open joint stock commercial bank. The headquarters of the bank is located in Qoqand city, Ferghana region. The main clients of the bank are small and private businesses, as well as retail clients.