Question 1

What is SQB?

Accepted Answer

SQB (Joint-Stock Commercial Bank "Uzbek Industrial and Construction Bank"), formerly known as Uzpromstroybank, is one of the oldest and largest universal banks in Uzbekistan. The bank operates as a state-owned commercial bank with primary shareholders including the Ministry of Finance of the Republic of Uzbekistan and the Fund for Reconstruction and Development of Uzbekistan.

As one of the systemically important financial institutions in the country, SQB specializes in financing large investment projects, basic sectors of the economy, small business and entrepreneurship, while providing comprehensive retail banking services. The bank is the second-largest bank in Uzbekistan by assets and loan portfolio.

Question 2

When was SQB founded?

Accepted Answer

SQB's history dates back to 1922, when the Middle Asian Bureau of Industrial Bank (Prombank) was opened in Tashkent. The bank was originally established to support industrial development in the region.

Over its century-long history, the bank underwent several transformations. In 1932, Prombank was transformed into a specialized bank of long-term investments. In 1959, it became Stroybank (Bank of financing capital investments), where it played a crucial role in the restoration of Tashkent after the devastating 1966 earthquake.

In 1987, it reformed into the Industrial-Construction Bank. Following Uzbekistan's independence in 1991, the bank transformed into a joint-stock commercial bank at a Constituent Conference, with leading industrial enterprises and construction organizations becoming its founders. In 2009, the bank adopted the name Open Joint-Stock Commercial Bank "Uzbek Industrial-Construction Bank" (Uzpromstroybank), and later rebranded to its current consumer name, SQB.

Question 3

Where is SQB headquartered?

Accepted Answer

SQB is headquartered in Tashkent, Uzbekistan, specifically at 3 Shakhrisabzskaya Street, Yunusabad district, 100000. The bank also maintains a representative office in Moscow, Russia, to facilitate international correspondent banking relationships and cross-border operations.

Question 4

Where does SQB operate?

Accepted Answer

SQB operates throughout Uzbekistan with an extensive branch network of 44 branches across the country. The bank maintains comprehensive coverage in all major regions and cities of Uzbekistan, ensuring accessibility to both corporate and retail customers nationwide.

The bank's infrastructure includes 173 points operating 24/7, 87 banking service centers, over 36,000 terminals, and serves millions of customers with more than 2.6 million plastic cards in circulation.

Question 5

What services does SQB offer?

Accepted Answer

SQB provides a comprehensive range of universal banking services across three main segments:

Retail Banking: Deposit products (Jozibali, Foyda, Daromadli), consumer loans, auto loans, educational loans, credit cards, mortgage lending, debit cards (Humo, UzCard, Visa, UnionPay), currency exchange, safe deposit boxes, and gold investments (bars and coins).

Corporate and Commercial Banking: Cash management, salary projects, business deposits, credit lines, working capital financing, investment project financing, trade finance, bank guarantees, and Islamic financing products.

Digital Services: The SQB Mobile application offers comprehensive mobile banking including online deposit opening, fund transfers between cards, loan applications, utility bill payments, currency conversion, and real-time account management. The bank also provides SQB Business internet banking for corporate clients, SMS banking, and the Payments 24/7 online service.

Specialized Services: Payment acceptance through merchant acquiring, mobile POS terminals, ATMs and infokiosks, investment banking services including brokerage services (JETT platform), bookrunner services, equity underwriting, and financial consulting.

Question 6

What makes SQB unique?

Accepted Answer

SQB distinguishes itself as Uzbekistan's oldest bank with over 100 years of history, deeply intertwined with the country's economic development since 1922. This heritage positions it as a trusted institution with extensive expertise in financing industrial and construction projects.

The bank has received international recognition, including awards from Citibank NA for excellent quality of international payments (2010, 2012) and from Commerzbank AG for partnership in documentary operations (2014). These accolades reflect its strong reputation in international financial markets.

SQB pioneered several banking innovations in Uzbekistan, being the first in the country to issue and service international payment chip cards Visa Electron and Visa Classic with custom designs in 2004. The bank has transformed from a primarily corporate-focused institution to a full-service universal bank following a comprehensive transformation process that began in 2018 with international consulting firms.

The bank plays a strategic role in financing priority sectors including petrochemical, biochemical, oil and gas, energy, chemical, and construction industries, while maintaining strong government support through its major shareholders.

Question 7

What type of financial institution is SQB?

Accepted Answer

SQB is a universal bank (aksiyadorlik tijorat banki in Uzbek) operating as a joint-stock commercial bank under the licensing and supervision of the Central Bank of the Republic of Uzbekistan. The bank holds license number 17, issued on June 24, 1991.

As a universal bank, SQB combines retail, commercial, corporate, and investment banking services under one roof. It operates as a commercial entity with the primary objective of profit generation while serving both individual and legal entities across all economic sectors. The bank accepts deposits, provides loans, conducts payment operations, and engages in investment activities—the full spectrum of banking operations permitted under the Law of the Republic of Uzbekistan "Banks and Banking Activity" adopted on April 25, 1996.

SQB's universal banking model allows it to serve diverse customer segments, from individual retail clients to large state-owned enterprises and strategic industries, while maintaining adequate liquidity norms and capital requirements.

SQB

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About SQB in Uzbekistan