Reportedly, it is expected that in April 2019, People's Bank of Kazakhstan will apply for a license to open a branch in Uzbekistan. This plan was announced by the Kazakhstan Stock Exchange in 2018. Chairman of the board of the bank Umut Shayakhmetova provided detailed information about it at a press conference in Almaty.

“In April, we are expecting to obtain a license to open our bank in Uzbekistan. Currently, the building has been selected to accommodate the branch. Uzbekistan will be the sixth country that our bank operates. Here we see that interstate potential flows. First, we provide services for legal entities, and for individuals it is planned to commission services by the end of the year,” Umut Shayakhmetova said.

Thus, People's Bank will become the first Kazakhstani bank with its affiliate in Uzbekistan. It is currently operating in Russia, Kyrgyzstan, Georgia, Tajikistan and Kazakhstan. The Bank serves approximately 10 million customers. 7,2 million of them use a number of banking products.

The subsidiary in Uzbekistan is called Tenge Bank.