Octobank H1 2025 Results: Strong Growth and Expanding Partnerships

Octobank closed the first half of 2025 with international credit ratings, a high brand valuation, and growth across key performance metrics.

Growth in Key Metrics

The bank completed H1 2025 with increases of 1.5 to 2 times or more across its main indicators. As of mid-year, the bank’s assets totaled UZS 4.98 trillion, up 81.7% from the same period last year (UZS 2.74 trillion). Liabilities rose 83.2%, from UZS 2.21 trillion to UZS 4.05 trillion.

Equity reached UZS 927.3 billion, including a charter capital increase to UZS 500 billion.

The loan portfolio grew from UZS 30.7 billion to UZS 392.8 billion. Net profit for the period reached UZS 162.3 billion, a 226.5% increase year-over-year. The client base grew by 12.9%, reaching 3.6 million individuals. The number of employees rose 62.7%, from 233 to 379.

Launch of PreApproved Microloans

Ranging from UZS 4 million to UZS 100 million, for any purpose, without documentation or guarantors. Ideal for everyday needs — from repairs to urgent purchases. Details and applications are available on the Octobank website.

Award for Dynamic Growth in Uzbekistan’s Banking Sector 2024

The brand became a laureate of the VIII Brand Awards International, recognizing leading brands and their achievements. Previously known as “Brand of the Year,” the award is now held in an international format.

The ceremony took place on May 3 at the Hyatt Regency Tashkent, organized by the Committee for Competition Development and Consumer Protection of Uzbekistan and the Uzbekistan Marketing Association.

"We are grateful for the recognition. This award from industry experts is a valuable result of our work and a testament to the right strategic path taken by Octobank’s team. We will continue to implement new technologies and improve service quality to offer our clients the best banking solutions," — Iskandar Tursunov, Chairman of Octobank.

International Credit Ratings from Moody’s and S&P

Octobank received ratings from two major international agencies:

• Moody’s: B3, Outlook Stable
• S&P Global Ratings: B-, Outlook Stable

Moody’s analysts noted the bank’s strong capital and profitability in 2024 and expressed confidence in stable performance over the next 12–18 months.

Brand Valuation — $30 Million

Octobank became the first brand in Uzbekistan to be officially valued as part of the Brand Awards International, with a brand valuation of $30 million.

Participation in China International Financial Exhibition (Shanghai)

One of the world’s largest financial exhibitions.

During the event, Chairman Iskandar Tursunov met with CIPS Chairman Huang Fu to discuss yuan settlements in Central Asia and agreed to hold the next meeting in Uzbekistan.

"China is one of Uzbekistan's key trade partners. We aim to expand cross-border payments, digital infrastructure, and business support within the Uzbekistan-China trade flow. We are open to joint projects and experience sharing," — said Iskandar Tursunov.

At the business session, Ms. Li, representing Octobank, presented Q1 2025 results:

• Profit: $8.4 million
• Capital: $67.6 million
• Assets: $315.1 million

She also highlighted strategic focus areas and emphasized the importance of partnerships in trade, technology, and sustainable development in interviews with Chinese media.

Expansion of Cross-Border Settlements with China

Octobank participated in a finance and business cooperation conference between Xinjiang and Central Asian countries. Representing Octobank, Treasury Director Sardor Shavkiev outlined key areas for business: direct settlements, cross-border transfers, and support for exporters/importers. The bank also held a meeting with XJ Bank, agreeing to deepen collaboration.

"The partnership with XJ Bank strengthens financial ties between China and Uzbekistan. A direct settlement channel with China gives us and our clients faster, more flexible, and more cost-effective transactions. This already benefits exporters and importers in Uzbekistan and will continue to grow," — Sardor Shavkiev.

Membership in the American Chamber of Commerce

Octobank joined the American Chamber of Commerce in Uzbekistan, a key international business network representing over 500 companies from 25 countries, connecting businesses, investors, and regulators.

"This membership brings us into an active networking environment — participating in industry committees, business breakfasts, and forums boosts the bank’s visibility and unlocks new partnerships," — Komiljon Saidov, Chief of Staff at Octobank.

Export and Startup Support via IT Park

Octobank signed an agreement with IT Park, opening payment infrastructure for residents — especially startups and gaming services.

"This partnership enhances the country’s export potential by giving Uzbekistan's IT companies tools to enter new markets," — Pavel Limarenko, Head of E-Commerce at Octobank.

University Partnerships

Agreements were signed with the Tashkent Institute of Management and Economics and British Management University to foster long-term partnerships in banking education.

Plans include:

• Student internships and talent pipeline development
• Joint lectures, workshops, and career consultations
• Financial, tech, and management education initiatives

Benefits:

• Octobank employees acting as guest lecturers
• A steady supply of well-prepared specialists
• Strong ties between academia and business
• Enhanced HR branding among students and faculty

New Partnerships and Tech at PLUS Forum

At the PLUS Forum in Tashkent, Octobank presented its digital initiatives, engaged with industry peers, and discussed trends like acquiring, local transfers, and marketplace integrations.

A partnership was signed with fintech company BS/2 to explore ATM and self-service expansion, aiming to make cash operations faster, safer, and more convenient.

Award for E-Commerce Leadership

At the E-commerce Central Asia Expo, Octobank was named "Leading Acquiring Bank in E-Commerce in Uzbekistan, 2024".

"This award is not just recognition, but proof of our structured work in the acquiring space," — said Dilshod Pulatov, First Deputy Chairman of Octobank.

“Breakthrough of the Year” by JCDecaux

Octobank received the Breakthrough of the Year award from JCDecaux for rapid development and modern solutions.

“Behind this recognition is the hard work of our team, the trust of our clients, and the support of our partners,” — official comment.