Tenge Bank (the subsidiary of the People’s Bank of Kazakhstan) plans to enter the list of TOP-10 banks in Uzbekistan within 3-5 years, the bank said in a press release. 
 
“Having studied the high demand, the bank has developed and proposed its customers a service of making direct payments in tenge from Uzbekistan to Kazakhstan. Legal entities now have the opportunity to directly purchase Kazakhstani tenge. For individuals, the Bank launched three types of deposits focused on different purposes. Starting from September 1, it is planned to launch retail loan products,” the report said.

In addition, the bank has connected to the Uzcard payment system, active work has begun on connecting to the HUMO payment system, as well as to international payment systems – VISA, Union Pay and MasterCard. 

In 2020, it is planned to attract a new payment system – American Express to Uzbekistan. 

“Tenge Bank has significant financial and technological resources that will enable the bank to provide customers with reliable, stable funding and a high level of service. The bank aims to enter the list of TOP-10 banks in Uzbekistan over the next 3-5 years,” the release notes.