From the History of Bank Eskhata

OJSC “Bank Eskhata” is the open joint-stock bank incorporated in 1993 in the Republic of Tajikistan. The Bank was reorganized as joint commercial company “Bank Eskhata”, according to the act of the founders council on May 28, 1999. The Bank was re-registered as “Bank Eskhata”, open joint stock company, on September 12, 2002. Nowadays Bank is regulated by the legislation of RT and conducts its business under the License №16, issued by the National Bank of Tajikistan (the “NBT”) on November 29, 1994. This date became an official "birth date" of the Bank Eskhata celebrated every year by the whole collectivity.

For the first time, Eskhata Bank received a license to carry out banking activities from the National Bank of Tajikistan on November 29, 1994. This date is now celebrated as "Birthday" every year. At the moment, the bank carries out its activities in accordance with the NBT License dated 20/05/2010.

Name of the bank comes from the ancient name of Khujand city given by Alexander the Great to the new fortress on the Sir-Darya river - Alexandria Eskhata. This name became a pride and a special sign of Khujand identity. Today Bank Eskhata is the only bank in Tajikistan, which head office is situated outside of the national capital Dushanbe, but in Khujand city.

Bank Eskhata founders are individuals-residents of the Republic of Tajikistan. Large shareholder of non-resident is the European Bank for Reconstruction and Development.

OJSC "Bank Eskhata" was formed at the establishment period of the state independence of Tajikistan. In 1993-1994 start of commercial bank and any kind of business was not an easy thing generally. Banks faced difficulties with the first steps of their activity. Economic sphere was on the initial stage of transition to the market economy yet. Economic turnover needed bankroll. And exactly for the aim to support small and medium business, and the same way to improve living standards of Tajik citizens, Bank Eskhata issue loans to private businessmen and entities on profitable terms since the first days of its work. Fruitful work in business financing led to the fact that very soon number of credit customers passed 90,000 point! The major share (60%) of credit portfolio are funds for business development.

The Open Joint Stock Company "Bank Eskhata" passes a long way of formation, development and approval as a reliable and stable partner. Year by year Bank Eskhata grew and developed strengthened rates, increasing competitive banking products, improving quality of services provision to customers, thereby expanding its presence both in the north - Soghd region and in the south of the Tajikistan. Due to dynamic development, introduction of global standards for customers service, clear and full performance of its obligations, Bank Eskhata earned excellent business reputation among thousands of organisations and tens of thousands of Tajik citizens.

Today OJSC "Bank Eskhata" is one of the largest participants in the banking market of Tajikistan carrying out all major banking operations. Network of the Bank Eskhata form 21 branch offices and 157 banking centers over the Tajikistan. Since its foundation, Bank Eskhata shows position of perspective progressing bank for small and medium business enterprises, and for individuals as well. Bank Eskhata offers to its customers a wide range of services adopted in the international financial practice.

For more than 25 years of its activity, Bank Eskhata made a great way of public recognition. At this stage bank has a right to be proud of its achievements which made the brand of Bank Eskhata as the sign of stability, negotiability and neighbourship with customers.

"But we do not stop on achieved level. There are still a lot of open horizons. We believe that great experience of the bank accrued for those years should be the key to successful implementation of many other our projects", - marks Reiner Mueller-Hanke, Chairman of the Bank Management.

Dynamic bank progress is confirmed by different ratings. So, for the last two years the activity of Bank Eskhata is evaluated by positive marks of the leading rating agency Moody's Investor Service.

Like all preceding estimates, rating mark B3 ("B three") is successful for Bank Eskhata because it reflects a high degree of credit portfolio specification together with Bank's concentration in the field of microfinance and retail trade. It also shows good financial performance including quality of assets, its liquidity and yield. High rating marks should promote the further development of partnership network, specifically attract new investments, share global acceptance and as well to lead to successful progress of the international business and whole operation of Bank Eskhata.

Emphasis in whole banking work is paid to financing national production. In this direction Bank Eskhata cooperates with the EBRD, and over the last few years we realized different projects of small and medium business financing with profitable conditions for customers.

Nowadays Bank Eskhata follows its main strategic goal to be more customer-oriented bank which means to become more and more closer to customers. This is that the bank motto says: "We're getting closer!"