Hamkorbank
Hamkorbank is the digital bank to beat in Uzbekistan, even though its rivals are raising their game in mobile banking in this nation of 34 million.
Chairman Bakhtiyorjon Juraev’s executive team runs one of the nation’s biggest privately owned banks, and 2022 has proved action-packed for a bank with strong ties to international financial institutions. Uzbekistan Inc’s foreign relations are being put to the test following Russia’s invasion of Ukraine in February. The global sanctions on Russia and Belarus that ensued have caused big ripple effects in former Soviet republics with close ties with Moscow.
Even with its strong domestic roots, 30-year-old Hamkorbank plays an important role in helping the Uzbek government to meet its goals of embracing the global financial system and funding priorities accordingly. This has meant months of urgent stress tests for the Hamkorbank team. It has also meant trying to stick with as many pre-Ukraine crisis priorities as possible.
No initiative is more central to where Hamkorbank wants to go in the years ahead than its digital transformation.