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However, Bank Has Also Been Known As The Best Customer-service Oriented Bank ...

However, bank has also been known as the best customer-service oriented bank in the region and been given due credits from authoritative institutions of the world ('Thomson Financial BankWatch', 2000, 'Trade Finance', 2001, 'The Banker', 2000). The market share of the bank has been biggest among the banks of the country, possessing around 50% of all credit resources allocated to the economy (Table 1.)
Table 1. Market Position of NBU by the Segments of Banking Sector in Uzbekistan:
Share in the domestic market
 
1999
 
2000




By the size of the capital:



Among all banks
 
  54,3%  
 
  58,5%  



Among the largest banks
 
  58,5%  
 
  62,3%  




By the size of the assets:



Among all banks
 
  60,7%  
 
  72,7%  



Among the largest banks
 
 63,0%  
 
  75,5%  




By the size of the liabilities:



Among all banks
 
  61,8%  
 
  75,5%  



Among the largest banks
 
  63,7%  
 
  78,0%  




By the total amount of issued credits:



Among all banks
 
  59,8%  
 
  75,6%  



Among the largest banks
 
  60,8%  
 
  77,4%  




By the size of the deposits:



Among all banks
 
  40,2%  
 
  48,8%  



Among the largest banks
 
  43,8%  
 
  53,9%


Source: NBU, 2003a
Until recently, government secured loans from international institutions for the support of economic reforms in the country have been going through NBU as a big expertise bank and the main contractor in the area (NBU,2003). However, recent pressures from the same institutions to liberalize the financial markets, and to apply stricter anti-trust laws have placed a pressure upon NBU as a beloved bank of the country.
Although the current position of NBU is pretty much like semi-monopolistic, or quasi-oligopolistic in many areas of banking services in the country, bank decided to work over its strategy as customer-oriented bank, rather than short-term profit oriented bank. Apart from launching a number of lines of new services, bank has also tried to address a few issues, relevant for customers of the country: working over the bureaucratic barriers/obstacles, reducing the service time by using the up to date technologies and finally, meeting the customer needs by matching the demand level.
While considering business reforms NBU is carrying out, the main question as to why would there be worries over the customer satisfaction issues would arise after having thoroughly studied the economic situation in the country, which would give an impression that financial services sector is more like supplier driven industry in the country.


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