Uzbekistan
LATEST ARTICLES
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Hamkorbank, one of the first banks opened in the country following independence in 1991, wins best domestic bank in Uzbekistan for its performance over the awards period this year.
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Hamkorbank wins best bank for small and medium-sized enterprises in Uzbekistan in recognition of its continued commitment to providing high quality service to SME clients in the country. Some 98.87% of the bank’s corporate clients are SMEs, and as of January 1, 2023, Hamkorbank holds 19.12% of the SME market in Uzbekistan.
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Asia Alliance Bank is the best bank for digital solutions in Uzbekistan following continued improvement in its digital platform. In the past year, it has worked with a software developer to design and launch a new app.
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Tenge Bank, a subsidiary of Halyk Bank, the largest financial group in Central Asia, wins the award for best international bank in Uzbekistan.
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Over the last century, Sanoat Qurilish Bank has had a front-row view of Uzbekistan’s economic zigs and zags. But it is the work the bank is doing to forge a greener future that put it in front to win our awards for best domestic bank and best for environmental, social and governance this year.
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Asakabank is Asiamoney’s choice for best corporate bank in Uzbekistan’s financial scene because of its senior management’s ability to steer the bank in the right direction in the roughest of global environments.
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Orient Finans Bank’s year was, statistically speaking, a study in how to succeed even in the harshest of economic environments.
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Depending on how you look at it, opening shop in Uzbekistan in 2019 was either poorly timed or a stroke of genius. Kazakhstan’s Halyk Bank is doing a solid job of proving that its decision to set up Tenge Bank in Uzbekistan, now in its fourth year, was the smart thing to do as it increases its footprint in local investment circles.
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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.
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Depending on how you look at it, opening shop in Uzbekistan in 2019 was either poorly timed or a stroke of genius. Kazakhstan’s Halyk Bank is doing a solid job of proving that its decision to set up Tenge Bank in Uzbekistan, now in its fourth year, was the smart thing to do as it increases its footprint in local investment circles.
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Orient Finans Bank’s year was, statistically speaking, a study in how to succeed even in the harshest of economic environments.
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Over the last century, Sanoat Qurilish Bank has had a front-row view of Uzbekistan’s economic zigs and zags. But it is the work the bank is doing to forge a greener future that put it in front to win our awards for best domestic bank and best for environmental, social and governance this year.
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Few banks in Central Asia have managed to build as strong and progressive a franchise in such a short period as Asia Alliance Bank. Since 2009, it has moved up the ranks based on its market share for small and medium-sized enterprises. Today, SMEs account for more than 67% of the bank’s loan portfolio.
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Russia’s invasion of Ukraine has far-reaching consequences for Uzbekistan’s privately owned Hamkorbank. The bank had just pulled through the pandemic when it had to take a hard look at exposure to Russian trade and the rouble.
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Uzbekistan promises to transform its stock and bond markets in an effort to lure much-needed capital from abroad. Roadshows, tax cuts and easing of restrictions are on the agenda as Tashkent prepares to sell off state assets.
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Government officials and bankers see the Covid-19 crisis as an opportunity to overhaul energy policy and expand the range of financing options available for the country’s infrastructure needs.
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The country’s government is talking a big game about opening up – but how likely is real change?
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The 25th year of Asakabank’s existence did not go as planned. As Covid-19 slammed global growth, Uzbekistan’s second-largest bank found itself in crisis-management mode rather than busy making deals.
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Though relatively small in terms of assets – which stand at just $489 million – Orient Finans Bank (OFB) often has a markedly outsized impact on Uzbek society. That was particularly true in 2020 when the nation’s 33 million people faced the threat of a pandemic.
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While most young, dynamic banks had a rotten year in 2020, CEO Ikram Abdukakhorov and his team further strengthened Asia Alliance Bank’s position in everything from lending to foreign exchange.
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In the coronavirus era, every financial institution is suddenly rushing to grow and solidify their digital footprint. But 30-year-old Hamkorbank appears to be learning new tricks faster than many of its peers.
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This new-ish entrant on the scene is already turning heads. It was only in May 2019 that Tenge, a wholly owned subsidiary of Kazakhstan’s Halyk Bank JSC, won a licence from the Central Bank of Uzbekistan. In less than a year, it was fully capitalized and running five branches in three cities.
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SQB, as state-owned Sanoat Qurilish Bank is better known, is coming up to its centenary. Established in 1922, it has, over time, become a premier player in the whole gamut of banking in Uzbekistan: state, corporate and retail lending; deposit-taking; cash-handling; international transfers; letters of credit; and foreign-exchange operations.
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Silk Capital is making a big bet on the liberalization of the country’s financial system – a crucial test case of international demand for the nation will be the boutique investment bank’s own offshore IPO.