DUSHANBE, December 8, 2011, Asia-Plus — Tojik Sodirot Bonk (TSB) has acquired the 100 percent ownership in Bonki Rushdi Tojikiston (Tajikistan Development bank or TDB), creating its affiliated bank on the basis of TDB.
According to information posted on TSB’s website, TSB has purchased the TDB shares in order to expand the spectrum of services offered by the bank and to support further development of the country’s banking system.
Tojik Sodirot Bank has kept the previous name of the bank and its affiliated bank is named Bonki Rushdi Tojikiston.
The National Bank of Tajikistan (NBT) has denied rumors that a number of private persons were shareholders of Bonki Rushdi Tojikiston as baseless. Bonki Rushdi Tojikiston reportedly belonged to a group of companies.
According to information from the Association of Banks of Tajikistan, Tojik Sodirot Bonk has topped local commercial banks this year in terms of capital volumes. TSB’s capital has reportedly risen 77.1 percent in nine months to October 1, 2011, reaching 290.7 million somoni (equivalent to more than 61 million U.S. dollars).
TSB was established in December 1990 as the Tajik branch of the Vnesh Econom Bank of the former Soviet Union, and it initially specialized in trade and import-export banking. Later this branch was reorganized into a Joint-Stock Commercial Bank “Tajikvnesheconombank”. In June 1999 the bank was renamed and registered as Tojik Sodirot Bonk or TSB.
Headquartered in Dushanbe, TSB has 32 branches in the main cities and districts of Tajikistan and covering all regions of the country.
Founded in 2006, Bonki Rushdi Tojikiston, with headquarters in Dushanbe, has four branches in all regions of the country. It was the sixth largest commercial bank in Tajikistan. Overt he first nine months of this year, its capital has fallen 9.1 percent to 55.5 million somoni (equivalent to 11.66 million U.S. dollars).
