Octobank More Than Triples Its Assets and Expands International Payment Infrastructure
TASHKENT, Uzbekistan — Octobank closed the first half of 2026 with growth across its key financial indicators, an expanded international correspondent banking network and the launch of new solutions for retail and corporate clients. The bank also continued developing cross-border payment services, strengthening Uzbekistan’s financial links with Central Asia, Europe and Asia.
The bank’s performance reflects the broader transformation of Uzbekistan’s financial sector, where digital services, international settlements and technological integration are becoming key areas of development.
Octobank’s Assets Reach UZS 16.52 Trillion
In the first six months of 2026, Octobank’s assets reached UZS 16.52 trillion, representing an increase of 231.93% compared with the same period of the previous year.
The bank’s liabilities rose from UZS 4.05 trillion to UZS 15.32 trillion. Its total equity reached UZS 1.20 trillion, including charter capital of UZS 500 billion.
The loan portfolio increased by 55.15%, from UZS 392.8 billion to UZS 609.4 billion. Net profit for the reporting period amounted to UZS 170.6 billion, while net interest income reached UZS 224.6 billion.
Octobank’s customer base exceeded 3.66 million. As the bank expanded its operations, the number of employees increased from 379 to 471.
New Solutions for Businesses and Retail Clients
During the first half of the year, Octobank expanded its product range for both corporate and retail customers.
The bank introduced the Octo-Invest, Octo-Working Capital and Octo-Auto lending products for entrepreneurs and companies. These products are designed to finance investment projects, replenish working capital and support vehicle purchases. For individual customers, the bank launched an updated vehicle financing programme, Auto Loan 2.0.
The development of cross-border money transfers became another important area of focus. Customers can now transfer funds from Kazakhstan directly to cards issued under Uzbekistan’s national HUMO and UZCARD payment systems through the Kaspi.kz application.
Transfers from South Korea to HUMO and UZCARD cards have also become available through the international E9PAY payment system. The development of such channels is important for Central Asia’s remittance market and expands settlement opportunities between Uzbekistan and countries with strong labour and business ties.
International Correspondent Banking Network
During the first half of 2026, Octobank opened several new correspondent accounts with foreign financial institutions.
The accounts were opened:
- with DBS Bank in Singapore, in US dollars and Chinese yuan;
- with ICBC’s London branch, in Chinese yuan;
- with Yes Bank in India, in Indian rupees;
- with Bank of Asia in Kyrgyzstan, in Kyrgyz soms;
- with Sohar International Bank in Oman, in Omani rials.
The expansion of correspondent banking relationships enables Octobank to develop settlements in multiple currencies and improve its international payment infrastructure for companies working with overseas counterparties.
For business partners from the CIS, the European Union, the United States, the Middle East and Asia, the development of these channels creates additional opportunities to engage with Uzbekistan’s financial market.
Cooperation with International Financial Institutions
In 2026, Octobank continued expanding its relationships with international banks, investment companies and financial institutions.
During the Fifth Tashkent International Investment Forum, bank representatives held discussions with Proparco, StoneX, Nuqi Wealth and Priorbank. The main topics included international financing, payment infrastructure development, investment cooperation and the exchange of expertise.
The bank also participated in international industry events, including City Week in London and the Asian Development Bank Forum.
Following these meetings, Octobank signed a framework cooperation agreement with StoneX Financial Ltd and began work on opening a custody account with Euroclear. At the same time, the bank is developing relationships with Intesa Sanpaolo and Bendura Bank.
A separate area of activity concerns trade and economic relations between Uzbekistan and China. During a meeting with a Shanghai Cooperation Organisation delegation that included representatives of 14 Chinese companies, Octobank presented several potential areas of cooperation and signed memoranda aimed at developing long-term partnerships.
International and National Recognition
During the first half of 2026, Octobank received several industry awards.
At the Global Banking & Finance Awards 2026, the bank was recognised in the categories Best Digital Bank Uzbekistan 2026 and Best Bank for Treasury Activities Uzbekistan 2026.
Octobank also received the Global Recognition Award 2026 for developing customer-focused solutions, digital services and business tools.
At the Banking Fusion Uzbekistan 2026 international forum, the bank received the Strategic Banking Innovation 2026 award for its projects in banking technology and digital transformation.
Based on its 2025 results, the Uzbek rating agency Ahbor-Reyting upgraded Octobank’s credit rating to uzA++, with a Stable outlook.
Technology and Industry Agenda
Octobank served as the title partner of PLUS Forum Digital Uzbekistan 2026, one of the region’s major platforms dedicated to banking technology, e-commerce, payment systems and digital transformation.
The bank’s participation in international and regional events forms part of its strategy to develop partnerships and contribute to the global discussion on the future of financial services.
Octobank views technological development not merely as the launch of individual digital products, but as the creation of infrastructure capable of supporting international payments, business services and integration with external financial platforms.
25 Years in Uzbekistan’s Financial Market
In June 2026, Octobank marked the 25th anniversary of its establishment.
Over this period, the bank has evolved from a traditional financial institution into a participant in Uzbekistan’s digital banking ecosystem. Its main areas of development currently include digital products, services for entrepreneurs, international settlements and the expansion of its partner network.
The bank linked its anniversary year to a series of social and educational initiatives. These included programmes for children and young people without parental care, financial literacy events for schoolchildren and assistance for medical and social institutions.
The Scientific and Practical Medical Centre for Paediatric Oncology, Haematology and Immunology received an electrocardiograph and a blood pressure monitoring system. Tablets were also purchased for children undergoing treatment.
Sustainable Development
In 2026, Octobank continued integrating elements of an ESG approach into its operational and social activities.
One practical example was the reuse of exhibition infrastructure at PLUS Forum Digital Uzbekistan. The resources saved as a result were redirected to social projects.
Octobank’s approach to sustainable development includes responsible resource use, support for educational and medical initiatives and broader access to financial knowledge.
International Significance of the Results
The first-half results show that Octobank is continuing to scale its operations across several areas simultaneously, including capital, lending, digital products, cross-border transfers and international settlements.
For CIS countries, the bank’s activities are relevant in the context of regional payment connectivity and remittance development.
For the European market, the expansion of correspondent banking relationships, cooperation with London-based financial institutions and efforts to gain access to international custody infrastructure are particularly significant.
For US and global financial media, Octobank’s performance may be viewed in the broader context of the digital transformation of Central Asian banks, the growth of Uzbekistan’s financial sector and the strengthening of the region’s economic ties with international markets.
