02 % year on year, which is far higher than the overall level of that from commercial banks, large state-owned banks as well as
joint-stock banks.
In the future, the joint venture's products will cater to clients such as state-owned banks,
joint-stock banks, city commercial banks, and rural credit cooperatives, providing them with excellent financial products and services, both at home and overseas.
9 percent from earlier, while assets held by
joint-stock banks have totalled CNY15.
Privatization of banks and creation of private banks are equal and mutual complementary mechanisms which pursues the only objective, namely, it stimulates an establishment of a new class in a banking sector--the class of owners--or the class of a private and joint-stock banks with a foreign capital to increase the management efficiency of banking resources.
1999 Specialized banks 9 7 Joint banks 1 4 Private 3 10 Joint-stock banks 15 10 Total 28 31 Types of banks 12.
At the same time, as it was mentioned above, one of the directions of a program restructuring the banking system in Uzbekistan was a transformation of forms' ownership for big joint-stock banks with a dominant state share and creation of incentives to increase the number of private banks.
According to this Decree the state share in joint-stock commercial banks must not exceed 50 percent; besides, if enterprises or any other organizations which have a state share of more than 25 percent are not allowed to have a 50 percent share in a joint-stock bank (3).
Due to the foregoing factors, although city commercial banks face competition from state-owned banks,
joint-stock banks and foreign banks, together with the rigorous requirements on NPL ratio set by the China Banking Regulatory Commission, the bright prospects are foreseeable.
Presently, private capital accounts for only 20 percent of ordinary-share ownership in
joint-stock banks and 45 percent in city commercial banks, the report said, citing data from the CBRC.
