Khudayarova, dildora abdunazarovna pdf

CHAPTER 1. INTRODUCTION

1. 
   Background to the study
   

The constant increase of the competition in the banking sector and aggressive growth of subsidiaries of foreign banks that specializing in various services for the population, as well as being a consequence of the mentioned factors reducing of the commission and interest income from customer services, make the world's commercial banks to seek new, more promising and cost- effective ways to increase the density and quality of interaction with customers.

The territorial expansion of the branch cannot be infinite, and in an era of rapid development of information technologies banks in an effort to get closer to the customer are increasingly trying to develop not for the expense building of large networks of branch offices, but through the introduction of advanced science and technologies, implemented in various methods of distant bank services (DBS) for customers.
As the President of Uzbekistan Islam Karimov said at the meeting of the Cabinet Ministers that dedicated to the socio-economic development in 2013 and the most important priorities of developing economic reforms in 2014, “It is encouraging to note Uzbekistan`s banking system is assigned with rating at "stable" second consecutive year by such reputable international rating agencies as "Standard & Poor's", "Moody's" and "Fitch Ratings" and number of commercial banks in the republic, with the same assessment is increasing from year to year. If in 2012 the country's 15 commercial banks were rated as "stable", today their number reached 23, and their assets make up more than 98 percent of the total assets of the banking system of the country”.1
All these figures certainly indicate the degree of development of the banking system. But for the further development of the banking sector of the


¹Report of the President of Uzbekistan Islam Karimovat the meeting of the Cabinet Ministers which was dedicated to the main results of 2013 and the priorities of socio-economic development in 2014. 19.01.2014.
republic, and output it to a higher quality level of the world it is needed to develop new banking technologies, new ways of attracting customers.
The spread of mobile communication devices and Internet among the population, the development of network infrastructure in the regions, improvement of legislation, the growth of financial literacy and income - all of these contribute, on the one hand, to increasing confidence in banks and demand for retail banking services, and, on the other – to possibilities of credit institutions that seek ways to maximize satisfaction of customers’ needs, to introduce, and constantly expand the range of remote services.

2.