U.S. Citibank launches operations in Uzbekistan

TASHKENT. July 15 (Interfax) - The Central Bank of Uzbekistan has accredited a representative office of Turkey's Citibank AS, a subsidiary of U.S. Citibank, in Uzbekistan.

"The representative office has been established to look into the country's financial market and expand cooperation with government agencies and financial organizations," the press service of the Central Bank said.

Uzbek President Shavkat Mirziyoyev met with Citigroup CEO John Dugan during the former's visit to the United States in September 2023, when the parties discussed cooperation to develop the banking and financial sector. Mirziyoyev also supported plans to open a Citibank representative office in Uzbekistan.

Citibank is a leading global financial institution that provides services in retail banking, corporate banking, investment banking and asset management in over 180 countries.

The Central Bank of Uzbekistan said that eight foreign banks currently have representative offices in the country, namely South Korea's Korea Eximbank and Shinhan Bank, and Germany's Landesbank Baden-Württemberg and Commerzbank AG. U.S. JPMorgan Chase, Russia's Gazprombank , China's Eximbank, and Turkey's Citibank AS also each have an office.