STRATEGIC ALLIANCE: CORRESPONDENT BANKING WITH OCTOBANK
CORPORATE PROFILE
Key Facts & Figures
Full Name
Joint Stock Company «Octobank»
Short Name
JSC «Octobank»
Legal Form
Joint Stock Company
Registration
July 23, 2001
Banking License
No. 70 (September 23, 2023)
Issued by
Central Bank of Uzbekistan
OVER 2400 CORPORATE CLIENTS
Services to be offered as a part of 2029 strategy
Trade and Export Financing
Project and Infrastructure Financing
Advisory & Investment Banking
Services currently offered
Cash Management & Settlement
Foreign Exchange Transactions
Online Payment Processing
Loan Facilities
Bank Guarantees
OVER 3.5M RETAIL CLIENTS
Deposit Accounts
A range of deposit and savings products, offering competitive returns and flexible terms
Currency Exchange and Conversion
Competitive rates and efficient processes for buying, selling, and converting various currencies
Local (UzCard/Humo) and International (VISA/MasterCard) Payment Cards
Issuance, servicing, and management of international debit and credit cards for global acceptance
International Money Transfers
Cross-border remittance services, ensuring swift transfers to a wide range of destinations
Personal Loans
For individual financing needs such as education, housing, or personal projects
Octo-Mobile App Services
Including account management, payments, transfers, and other features
OCTOBANK BANKING OPERATIONS
BRIEF HISTORY
2001
Founded under «Ravnaq bank» brand name with the focus on commercial and retail banking
2002
Became a member of the following organisations:
Fund for Guaranteeing Citizens' Deposits
Tashkent Stock Exchange
Association of Banks of Uzbekistan
2011-2020
Established 20 self-service units across the country
2015
One of the first banks to introduce cash-in ATM service in Uzbekistan in 2015
2023
Rebranded to OCTOBANK
2024
Robust business results achieved:
Core capital reached $60M
$11.6M in net revenue
2.4k corporate and 3.5m retail clients
19.9% Return on Equity (ROE)
4.8% Return on Assets (ROA)
2025
Awarded “Best Acquiring Bank in e-commerce 2024” by Visa.
Certified under ISO 9001:2015.
Partnerships with LSEG Data & Analytics, Bloomberg, Tenpay (Tencent).
2025
Expanded correspondent network with Banco Santander (Spain).
Ahbor-Reyting: credit rating “uzA+” (Stable, 2024).
S&P: B- (Stable), Moody’s: B3.
2029 STRATEGY
DIGITAL SOLUTIONS
Advance mobile
banking platformEnhance online payment solutions
Automate banking processes
Research and Implement
AI
KEY STRATEGIC GOALS
Expand retail and corporate client base
Strengthen correspondent relationships
Build up international presence via UAE RO followed by
fully-fledged branch
2029 TARGETS
4M+ Retail Clients
3K+ Corporate Clients
$3Bn+ Total Assets
INNOVATION FOCUS AREAS
SUPER APP
Unified digital platform for all financial services
AI/ML INTEGRATION
Predictive Analytics
Risk Assessment Models
Customer Service Automation
SECURITY & RISK MANAGEMENT
Advanced risk management and compliance
NEW PRODUCTS IN PIPELINE
SUPERAPP
Unified access to financial and lifestyle services
SUBSCRIPTION SERVICES
Automated payments for utilities and tailored insurance options
CUSTOM INSURANCE
Simplified packages for health, property, and life coverage
AI-PERSONALIZED OFFERS
Smart recommendations for savings, investments, and purchases
ADVANCED CRM
Real-time insights, multi-channel integration, and personalized engagement
AI & AUTOMATION
Self-service solutions and predictive analytics for client needs
DIGITAL HEALTH SOLUTIONS
Telemedicine and other innovative offerings
GOALS BY 2029
90%
client retention and digital adoption
sales driven through CRM platforms
ESTABLISHED CORRESPONDENT RELATIONS WITH 11 BANKS
Uzbekistan
Turkey
China
Europe
UAE
STRATEGIC HIGHLIGHTS
Enable seamless international transactions and deeper financial cooperation
Focused on cross-border trade and payment facilitation
GROWTH FOCUS
Expansion to additional markets planned for 2025
MILESTONES & ACHIEVEMENTS IN 2024
Steady growth in key indicators: assets increased by more than 3 times,
and net profit increased by 17.5 times from 2022 to 2024
No problematic assets
All problematic assets of the bank were resolved in 2024
Partnership with Tenpay
One of China’s major payment service providers
Received the «Best Acquirer Bank in E-Commerce 2024» award from Visa
Increase in core (Tier 1) capital to $60m USD
TOTAL ASSETS
Key growth drivers
Expansion of payments services and partnerships
Digitalization
TOTAL LIABILITIES
Attracting deposits
THE BANK ACHIEVED NET REVENUE OF $11.6M IN 2024
PERFORMANCE HIGHLIGHTS
Return on Assets (ROA): 4.8%
Return on Equity (ROE): 19.9%
KEY BUSINESS PARTNERS
The largest exchange in Central Asia
Uzbekistan’s flag carrier
Top 3 mobile operating companies in the country
Leading supermarket chain
One of the largest national payment networks
The largest fintech platform, with 18.8M paying users
Leading IT company in Uzbekistan
Logistics company specializing in the delivery of goods from China
The most popular ride-hailing service in Uzbekistan
Popular food delivery service
The largest rail transport provider in Uzbekistan
RISK & COMPLIANCE GOVERNANCE: 3 LINES OF DEFENSE
GOVERNANCE & COMPLIANCE
ENSURING ADHERENCE TO RULES, POLICIES, AND REGULATION
TECHNOLOGY-DRIVEN CONTROLS
HUMAN OVERSIGHT
INTERNAL AUDIT
STRENGTHEN FINANCIAL NETWORKS
REGULATORY ENVIRONMENT IN UZBEKISTAN
ONE OF THE MAIN GOALS OF THE CENTRAL BANK OF UZBEKISTAN (CBU) IS TO MAINTAIN THE STABILITY OF THE BANKING SYSTEM
Banking Sector
Licensing and supervision
Capital adequacy requirements
Liquidity standards
Risk management frameworks
Corporate governance standards
Monetary Policy
Currency issuance and circulation
Exchange rate policy
Foreign exchange operations
Interest rate management
Price stability maintenance
Key Statistics
Banks represent 96% of financial system assets
Oversight of 30+ commercial banks
Management of the UZS (national currency)
Payment Systems
National payment infrastructure
Payment service providers
Settlement systems
Digital payment oversight
Cross-border payment system
Financial Market Infrastructure
Clearing systems
Securities settlement
International reserves management
AML/CFT compliance
Systemic risk monitoring
MACROPRUDENTIAL POLICY FRAMEWORK
THE FRAMEWORK IS THE FOUNDATION OF BANKING SYSTEM STABILITY AND ENABLES SYSTEMATIC RISK MANAGEMENT AND PROACTIVE STABILITY MAINTENANCE IN THE BANKING SYSTEM
IMPLEMENTATION FRAMEWORK
AML/CFT LEGISLATION AND REGULATION 1/2
Central Bank:
Financial Monitoring Department
The following section sets out the key objectives.
Institutional Oversight:
The Department for Combating Economic Crimes
The following section sets out the key objectives.
AML/CFT LEGISLATION AND REGULATION
Legislative Foundation: Law No. 660-II:
Title: On Countering the Legalization of Proceeds from Criminal Activity, the Financing of Terrorism, and the Financing of the Proliferation of Weapons of Mass Destruction.
Forms the cornerstone of Uzbekistan’s AML/CFT framework.
CORE COMPONENTS
Risk-Based Approach
Focus on identifying and addressing high-risk activities and entities.
Compliance Obligations
Financial institutions must implement Know-Your-Customer (KYC) and due diligence measures.
Reporting Requirements
Mandatory reporting of suspicious transactions to the Financial Intelligence Unit (FIU).
Sanctions
Penalties for non-compliance, including administrative and criminal consequences.
Contacts
Sardor Shavkiev
Telephone: +99894-660-00-52;
+99871 202-33-33 (ID1258)
Email: Sardor.Shavkiev@octo.bank
Andrei Kan
Telephone:
+998 94 655 00-74
E-mail: Andrey.Kan@octo.bank
Dilnoza Khudaybedieva
Telephone:
+998 94 660-00-93
E-mail: Dilnoza.Xudayberdiyeva@octo.bank
Shukhratjon Kudratullaev
Telephone:
+998 90 807 99 93
E-mail: Shuxratjon.Qudratillayev@octo.bank
