Octobank 2025: A Success That Is Hard to Ignore

From Record Profits to International Rankings, Uzbek Bank Shows Global Ambition

While many CIS banks are just feeling their way towards digital transformation, Octobank confidently enters the international arena. The beginning of 2025 was a real breakthrough for it: record profits, estimates from Moody's и S&P, partnership with the IT sector, activity in ESG and educational projects - all this allows us to talk about the bank as a new success story that is worth following not only in Uzbekistan, but also beyond its borders.

Octobank is becoming a model of a new generation of digital banking in the region. The combination of a fintech approach, social responsibility and strategic openness to the world makes it an example of how to quickly grow from a national player to a global market participant.

What is behind these successes? What steps is the bank taking to strengthen its position in Uzbekistan and enter international markets? Below are Octobank's key achievements for Q2025 XNUMX, which have already attracted the interest of investors, media and technology partners across the CIS.

Ended Q1 with record profits

Net profit amounted to 108,5 billion soums, which is 397,5% more than in the same period of 2024. For comparison: for the whole of 2024, Octobank's profit amounted to 150,7 billion soums, meaning that the quarterly result was almost equal to the results of the entire year.

Other indicators:

• Assets - 4,1 trillion soums (+42,4% y/y);
• Capital — 873,5 billion soums (+74,3% y/y);
• Non-interest income exceeded 1,3 trillion soums, and expenses on it amounted to almost 1,1 trillion soums.

Received two international ratings - from Moody's and S&P Global Ratings

These are the two largest international rating agencies. Moody's assigned a rating of B3, and S&P - at B-; in both cases, the outlook is "stable".

According to Moody's assessment, Octobank has high financial indicators and capital level by the end of 2024. The agency expects that the bank's financial position will remain stable in the next 12-18 months. With the launch of new products, expansion of the client base and maintenance of current indicators, Octobank's rating may increase, the agency reports.

The “B?” rating from S&P indicates the bank’s ability to meet its obligations with moderate sensitivity to economic fluctuations, and the “stable” outlook indicates that the current assessment will be maintained over the next 12-18 months.

Agencies noted the business's resilience, strong capitalisation, growing profitability and digital strategy.

"This is the first international rating for Octobank — and we see that our bank's development path has been chosen correctly. The Moody's rating will help us build even more stable relationships with international partners and make us more visible in the global market. We have large-scale plans to launch new products and services, and this will be the main driver of our bank's growth in the coming years," said Iskandar Tursunov, Chairman of the Board of Octobank.

We won the award for "Leading Acquiring Bank in Uzbekistan"

At the April E-commerce Central Asia Expo forum, we received an award as the leading acquiring bank in Uzbekistan in 2024.

"The award received is not just a sign of recognition for us, but a confirmation of our systematic work in the field of acquiring. We actively implement technological solutions, support online business and the entrepreneurial sector, making digital payments faster, safer and more accessible for everyone. We are grateful for the high assessment and will continue to strengthen our role in the development of e-commerce in Uzbekistan," emphasized Dilshod Pulatov, First Deputy Chairman of Octobank.

We will help IT Park residents enter the international market

In April, we signed an agreement with IT Park: we will provide residents of the technopark with a payment infrastructure for cross-border settlements - gaming services and technopark startups developing SaaS solutions. Cooperation will give residents the opportunity to gain access to fast and secure international payments, which will simplify their work in the global market and increase their competitiveness.

"We highly appreciate the well-coordinated work of IT Park and the willingness to support each resident. This cooperation will strengthen the country's export potential, providing IT companies in Uzbekistan with tools to enter new markets," said Pavel Limarenka, Director of Octobank's E-Commerce Department.

Calculated the brand value - for the first time in Uzbekistan

Octobank became the first brand in Uzbekistan for which the market value was officially calculated. The assessment was carried out within the framework of the Brand Awards International.

According to experts, the bank's brand is worth $30 million (388 billion soums at the Central Bank exchange rate in March). This confirms that investments in recognition, service quality and marketing work to increase loyalty and capitalization. For the bank, such an assessment is not just recognition, but an additional resource when communicating with investors and entering the international arena.

Became one of the most mentioned banks in the media of Uzbekistan

According to a study by the Index agency, they entered the top five private banks in Uzbekistan by the number of mentions in online media. From January 1 to March 15, 2025, the bank was written about 107 times - only in professional and news publications, without taking into account Telegram and social networks. Octobank notes that the growth of media activity is an indicator of how much demand the bank's products are in and how actively it participates in the life of the market.

"For us, the number of mentions in the media is an indicator of how popular and interesting our products are. This rating helps us understand how we look against the background of other strong players and what place we occupy among the leaders. We are creating a bank that makes the lives of clients more convenient - and the more they write about us, the more people learn about us and our products," commented Komiljon Saidov, Head of the Executive Office of Octobank.

ESG projects launched in Tashkent mahallas

Began implementing environmental and social projects in the capital's mahallas - Nurliyo'l and Eski Jarariq. Bank employees planted more than 150 fruit trees in the courtyards of houses and on the plots of low-income families. The goal is not only greening, but also creating a sustainable source of income for residents.

The initiatives are part of the Poverty to Wealth programme and reflect our commitment to being useful not only in banking matters but also in the lives of communities.

Teaching financial literacy to schoolchildren

In March, Octobank launched an educational series of lectures on financial literacy as part of the international initiative "Global Money Week–2025". The first lessons were held in schools No. 110 and No. 345 in Tashkent. Our speakers interactively explain how to plan a budget, why savings are needed, and how the banking system works.

“Understanding things like savings, loans, expenses and income is the foundation that will allow young people to avoid financial mistakes in the future and manage their resources wisely now,” said Octobank’s Director of Problem Assets Management Navruz Musayev.

While many CIS banks are just feeling their way to digital transformation, Octobank is confidently entering the international arena. The beginning of 2025 was a real breakthrough for it: record profits, ratings from Moody's and S&P, partnership with the IT sector, activity in ESG and educational projects - all this allows us to talk about the bank as a new success story, which is worth following not only in Uzbekistan, but also beyond its borders.

Photo courtesy of octobank.uz