The year 2024 has been remarkable for Octobank — the bank has solidified its position, gained market recognition, and expanded its strategic partnerships. In 2025, the bank's primary focus will be on technology development, expanding its partner network, and enhancing customer experience.
Key achievements:
- the number of Octobank clients reached 3.6 million in 2024;
- a new website was launched — technologically advanced and user-friendly;
- a global rebranding was carried out — the logo and corporate identity were updated, all materials were redesigned, and new communication standards were implemented to be closer to clients;
- successful partnerships were established with LSEG Data & Analytics (providing analytics for financial markets), Bloomberg, and Tenpay, a subsidiary of the Chinese tech giant Tencent;
- capital increased to 755 billion sums.
Steady financial growth — assets have increased more than threefold, and net profit has risen 17.5 times from 2022 to 2024.
Net profit in 2024 amounted to 150 billion sums, with bank assets totaling 3.16 trillion sums. These results confirm Octobank's financial stability and effective resource management.
Named the Best Acquiring Bank in E-commerce 2024 by Visa
Octobank received the award for "Best Acquiring Bank in E-commerce 2024" from Visa.
The bank offers convenient solutions for businesses:
- returns and holds: if a product does not meet the buyer's needs, the bank can refund the money in full or in part, and help save on fees if the client wishes to return the product;
- subscription payments: suitable for businesses with a subscription model — regular deductions can be set up. One payment involving the client, and subsequent ones are automatic;
- detailed analytics: transaction statistics for sales analysis;
- easy integration: documentation for custom-built websites and ready-made solutions for CMS platforms;
- PCI DSS certification: international security standards to protect clients.
Business Services — Globbing Case Study
"Globbing is an online shopping platform where you can order products from abroad, for example, from the USA. The platform offers not only delivery but also a service where Globbing makes purchases on behalf of the client. One of the main tasks of the company was to support various payment methods. Clients needed the ability to pay for orders using Visa, Mastercard, and other international cards. Previously, this was a challenge, as not all banks supported such payment options," said Globbing's Director, Khurshid Saduloev.
Octobank provided Globbing with support for various payment methods. Clients can pay for orders with their cards regardless of where they were issued. This simplified the process for all clients, especially international ones.
"We increased sales thanks to the availability of all types of payments and support for cards from different countries. Now, in Tashkent, we have many clients — both locals (residents) and foreigners who actively order products from us. It is not necessary to open additional cards to use the service through Globbing; clients can use their cards issued in their countries of residence — this is one of the key advantages that helped us achieve our sales increase goal," shared one of the clients.
Among the bank's major partners are:
- UzEx commodity exchange;
- UzAirways airline;
- Beeline telecommunications operator;
- Korzinka GO food delivery service;
- Paynet payment system;
- Yandex Eats food delivery services;
- Yandex Go taxi ordering service.
Octobank Clients Issued Over 100,000 Virtual Cards
Virtual cards from Octobank offer a simple and secure way to shop online, book hotels, and subscribe without linking to a primary bank card. Cards are issued instantly through the Octo-Mobile app, supporting international payments and contactless transactions on Android smartphones and smart devices.
Since the beginning of 2024, Octobank clients have issued more than 100,000 virtual cards. In the Octo-Mobile app, several types of virtual cards can be opened:
- Visa and Mastercard. Issued in dollars and sums, suitable for international and local purchases. The validity period can be chosen from 3 months to 2 years;
- Humo. A card in sums — suitable for local online purchases.
No Problematic Assets
Back in May 2024, the share of problematic assets was 76.9%. However, by June, clients had completely repaid their debts — the share decreased to zero. Thus, Octobank successfully eliminated all problematic assets:
- clients repaid debts totaling 324 billion sums;
- Octobank was listed among eight banks in Uzbekistan with no problematic debts.
This further confirms the reliability and stability of Octobank.
Participation in Conferences and Forums
Sibos is one of the largest international conferences in the financial services industry, organized by SWIFT. In 2024, the event took place in Beijing and gathered:
- more than 10,000 representatives from financial institutions;
- around 2,000 companies, including major ones like the Federal Reserve System of the USA, the European Central Bank, JP Morgan Chase, Raiffeisen Bank, and others.
Octobank was one of the sponsors of the conference — the team held productive meetings with top global banks:
Bank of New York Mellon, JP Morgan Chase, Raiffeisen Bank, Bank of China, Commerzbank, UniCredit, and others.
Opportunities for collaboration were discussed in areas such as trade financing, derivative operations, transaction business, interbank deposits, and trade credits.
FINNEXT Asia
The annual forum dedicated to the development of financial technologies in Central Asia. In 2024, the event took place at the Hyatt Regency hotel in Tashkent and gathered:
- over 300 participants from banks, payment systems, fintech companies, and the telecommunications sector;
- representatives of international payment systems and technology companies who shared their experiences. Special attention was given to AI, digitization, and payment technologies.
"We are pleased to be the title partner of FINNEXT Asia 2024. This event opened opportunities for experience exchange, building strategic partnerships, and creating new solutions that will define the future of the financial sector in Uzbekistan and Central Asia," noted Alexey Maximov, Deputy Chairman of the Management Board of AO Octobank.
“PLAS Forum” 2024
Octobank became a platinum sponsor of one of the largest forums on modern banking technologies, thus investing in the development of the industry and participating in shaping key trends in Uzbekistan.
Received ISO 9001:2015 Certification
Octobank has passed certification according to the international standard ISO 9001:2015. This confirms that the bank's quality management system meets high global standards — effective process management, resource optimization, and staff training.
Achieved a uZA Credit Rating with a "Stable" Outlook
The Ahbor Reyting agency assigned Octobank a uZA credit rating with a "Stable" outlook. This indicates a high level of creditworthiness and the ability to meet debt obligations even under changing market conditions.
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