Orient Finans Bank
Though relatively small in terms of assets – which stand at just $489 million – Orient Finans Bank (OFB) often has a markedly outsized impact on Uzbek society. That was particularly true in 2020 when the nation’s 33 million people faced the threat of a pandemic.
The bank took the obvious steps: granting clients grace periods, extending the repayment schedules, and waiving penalties for rescheduling or postponing the servicing of secured obligations. It has also put its corporate social responsibility principles to work, taking unprecedented measures to support communities.
Case in point: spending 15% of net profit (about $3.2 million) on Covid-related medical staff support, various charities and support services. That’s on top of programmes supporting a range of issues, from sports to culture and from oncology treatments to financial literacy. OFB also provides generous help to Uzbeks displaced by natural disasters, most recently a dam break.
As for the bank's core business, that is going swimmingly, too. Babur Parpiev, chairman of the supervisory board, notes data up until January 1 depict an institution that “continued to deliver sound business growth and strong return on investments to our shareholders.”
Eleven-year-old