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Strategies for the development of commercial banks in the
New Uzbekistan for 2022
–
2026
Anora GULYAMOVA
1
Tashkent branch named G.V.Plekhanov Russian University of Economics
ARTICLE INFO
ABSTRACT
Article history:
Received February 2021
Received in revised form
28 February 2022
Accepted 15 March 2022
Available online
25 April 2022
The article were shows result of reforms over the past five
years, the country has created the political, legal, socio-
economic, scientific and educational foundations necessary for
building New Uzbekistan, and also strategies for the
development of commercial banks in the new Uzbekistan for
2022-2026.
2181-
1415/©
2022 in Science LLC.
https://doi.org/10.47689/2181-1415-vol3-iss2-pp
This is an open access article under the Attribution 4.0 International
(CC BY 4.0) license (https://creativecommons.org/licenses/by/4.0/deed.ru)
Keywords:
strategies,
development,
commercial banks,
transformations, tactical,
operational planning
Yangi O‘zbekistonda 2022–
2026-yillarda tijorat banklarini
rivojlanish strategiyalari
ANNOTATSIYA
Kalit so‘zlar
:
strategiyalar,
rivojlanish,
tijorat banklari,
transformatsiyalar,
taktik,
operativ rejalashtirish
Maqolada so‘nggi besh yil davomida amalga oshirilgan
islohotlar samarasi, mamlakatimizda yangi O‘zbekistonni barpo
etish uchun zarur bo‘lgan siyosiy, huquqiy, ijtimoiy
-iqtisodiy,
ilmiy-
ma’rifiy
asoslar
yaratilgani,
shuningdek,
yangi
O‘zbekistonda tijorat banklarini rivojlantirish strategiyalari
ko‘rsatilgan.
1
Elder teacher at the Tashkent branch named G.V. Plekhanov Russian University of Economics, department
international economy. E-mail: mutabarchik@mail.ru.
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Стратегии развития коммерческих банков Нового
Узбекистана на 2022–2026 годы
АННОТАЦИЯ
Ключевые слова:
стратегии,
разработка,
коммерческие банки,
преобразования,
тактические,
оперативное
планирование
В статье показаны результаты реформ за последние
пять лет, в стране созданы политические, правовые,
социально
-
экономические, научные и образовательные
основы, необходимые для построения Нового Узбекистана,
а также стратегии развития коммерческих банков в Новом
Узбекистане для 2022
-
2026 гг.
INTRODUCTION
As a result of reforms over the past five years, the country has created the political,
legal, socio-economic, scientific and educational foundations necessary for building New
Uzbekistan.
In order to determine priority areas for reforms aimed at further improving the
welfare of the people, transforming sectors of the economy, accelerated development of
entrepreneurship, unconditional provision of human rights and interests, the formation
of an active civil society in subsequent years based on the principle
“
In the name of the
honor and dignity of man
”
with a deep analysis of complex world processes and the
results of the past stages of the country's development, the Development Strategy of New
Uzbekistan for 2022
–
2026 (hereinafter referred to as the Development Strategy) and the
State Program for its implementation in the “Year of Ensuring Human Interests and
Development of the Mahalla”.
Today, our 35 million multinational people live with the great goal of achieving a
standard of living corresponding to developed countries, building a just, free and
prosperous society. Therefore, during the presidential elections last year, Shavkat
Mirziyoyev put forward the ideas
“
In the name of the honor and dignity of man
”
and
“
The
state for the people
”
. In order to implement them, based on the opinions and proposals of
the population, the Development Strategy for 2022-2026 has been developed.
It is no secret that today the most important, if you like, paramount task is to
preserve peace and stability in society, to strengthen our independence, ensuring the
territorial integrity of our country, the inviolability of our borders. Only a stable economy
will solve social problems.
In commercial banks, an initiative was developed to realize the strategic vision,
such as:
–
business initiative
–
supportive initiative
Necessary transformations in the organizational structure and corporate
governance to realize the strategic vision.
The development of strategy and business plans is carried out by the Management
Board and all divisions on the basis of iterative procedures. In this case, both external
information (statistics, analytical reviews, information from the media and the Internet)
and internal information (procedures, reports, analytical notes) are used. The standard
form of proposals are SWOT-analysis tables, which are compiled in the context of
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markets, products, branch network and divisions of the bank. All personnel must be
informed about the adopted strategy, the mission of the bank and the tasks of the
relevant departments. Information about the strategy is public, partners and clients of
the bank are informed about it. Based on the strategy, annual business plans of the bank,
plans and budgets of departments are formed. Plans include indicators for market share
by customers and products. The general scheme includes information on the share of the
product in the structure of assets and income for each division, the share of the division
in the sales volume of the product, the structure of assets, liabilities, and income. For each
division, the plans contain a clear program of action, deadlines, results, budget, material,
labor, information and other resources. The next element of the planning system in the
bank is strategic, tactical and operational planning. Strategic, tactical and operational
plans are interconnected, first of all, by clearly defined procedures for their coordination,
distribution of resources and appropriations. Organizationally, this work is carried out by
specially assigned employees.
To achieve the potential of commercial banks, it is necessary to implement a
comprehensive strategy of 32 initiatives. These initiatives include 17 business initiatives
and 15 support initiatives. Where the mission of the bank is to increase the national
wealth of the country, where it is necessary to be a guarantor of confidence and stability
in customers, offering them new opportunities and financial solutions. The main value of
the mission and strategy in commercial banks is honesty, focus on results, customer
trust, innovation, team cohesion and patriotism.
Planned targets for the loan portfolio, market portfolio and liquidity are controlled
on a daily basis. The main performance indicators of branches are analyzed weekly.
Monthly analysis of the bank's work is carried out. In the current mode, the state of the
market for individual products is discussed. Sources of obtaining information on the
implementation of plans are formed according to bank statements and reports of
divisions. The procedures for obtaining these reports require more standardization. A
system for reporting on the implementation of plans should be used to reward staff. The
third element of the planning system is the organization of financial reporting
management. In this regard, the Assets and Liabilities Management Committee, headed
by the Head of the Treasury, has been established and is functioning in Center-Invest
Bank. A risk management representative will be included in the Committee this year. The
Committee determines the size of assets and liabilities by terms and rates. It takes into
account planned targets and reporting requirements in accordance with Russian and
international standards, risks and cost of resources in the context of portfolios, as well as
risk coverage by the required level of capital. The work of the Committee is supported by
the activities of the Treasury apparatus.
The implementation of the strategy will increase net profit after taxes from 0.9 to
3.8 trillion soums.
CONCLUSION
The purpose of the budgeting process is to find a compromise between the
profitability, sales volume and risks of the respective portfolios. Analytical accounting is
conducted in the context of products and portfolios. The bank has established personal
responsibility for reliable accounting of treasury operations. Internal resource prices are
taken into account in settlements between the bank's divisions. The calculations also take
into account the costs of reserving and insuring deposits. The cost of resources is
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determined by the Treasury based on the decisions of the Assets and Liabilities
Management Committee, taking into account the applications of product managers.
The submitted information is confirmed by documents: annual report; approved
procedures and policies; fixed mission of the bank; strategy, current and operational
plans; forms of SWOT-analysis; current reports; asset and liability management
procedures. The most important component of the bank management system is
marketing.
First of all, the Bank conducts a comprehensive market analysis. An appropriate
budget is provided for these purposes. Sometimes marketing agencies are involved.
Marketing research focuses on the evaluation of the brand, product, portfolio, customers,
competitors, benchmarking, communication channels, environment.
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