History of the bank

The history of the formation and development of the State Commercial Bank of Turkmenistan "Turkmenbashi" originates from the 20s of the twentieth century. In 1924, the territory of Turkmenistan Turkmen opens branch Industrial and Commercial Bank. In 1928, all long-term lending industry and power supply is concentrated in one bank. Short-term operation and Prombank Elektrobanka were transferred to the State Bank. SNK on February 14, 1928 on the basis of the DCS in 1958-1959 were abolished Selkhozbank offices and other banks, their functions were transferred to the State Bank and Industrial Bank, renamed the All-Union bank for capital financing - Strojbank.

The collapse of the Soviet Union in 1991, has had its effect on the change history GKBT "Turkmenbashi". Act before "Turkmenpromstroybank" was renamed the Joint Stock Investment Commercial Bank "Investment Bank". "Investment Bank", one of the first obtained a license to conduct transactions in local and foreign currencies and License №1 Ministry of Economy and Finance of Turkmenistan for conducting work as an investment institution that gave the right to conduct activities in the securities market as an investment institution with the right to work with citizens. In this status the bank he worked from 1991 until 1999.

In January 1999, JSICB "Investment Bank" was reorganized into a specialized state commercial bank, finance-oriented industry and industrial infrastructure, with the right corporate services non-state sector, including companies with foreign capital, as well as individuals.

In April 2000, the Joint Stock Investment Commercial Bank "Investment Bank" was renamed the State Commercial Bank of Turkmenistan "Turkmenbashi".