Question 1

What is Hamkorbank?

Accepted Answer

Hamkorbank is a large joint-stock commercial bank with foreign capital participation operating in Uzbekistan. Founded as one of the first commercial banks in the country, it has grown into a universal bank serving retail, corporate, and SME clients across all regions of Uzbekistan. The bank has established itself as a market leader in the micro-segment and small business financing, with a strong focus on agricultural lending and support for private entrepreneurship.

Hamkorbank operates 157 banking service offices throughout the country and serves approximately 3 million active clients. The bank is known for its extensive network and accessibility, providing financial services to businesses and individuals in urban and rural areas alike.

Question 2

When was Hamkorbank founded?

Accepted Answer

Hamkorbank was founded in 1991 as Joint-Stock Commercial Bank "Andijanbank" following the independence of Uzbekistan. The bank was established to support the newly independent country's transition to a market economy and provide financial services to emerging businesses.

In 2000, the bank was renamed JSCB "Hamkorbank" as part of its strategic expansion beyond its original base in Andijan. Since its founding, the bank has evolved from a regional institution into one of the largest universal banks in Uzbekistan, expanding its services and geographic reach significantly.

Question 3

Where is Hamkorbank headquartered?

Accepted Answer

Hamkorbank is headquartered at 85 Bobur Avenue in Andijan, Uzbekistan. While the head office remains in Andijan, the bank maintains significant operations in Tashkent, the capital city, and has established a presence in all regions of the country.

The bank operates regional branches and banking service centers across Uzbekistan, including major cities like Tashkent, Samarkand, Fergana, Namangan, Kashkadarya, and others. This extensive geographic footprint enables Hamkorbank to serve clients nationwide.

Question 4

Where does Hamkorbank operate?

Accepted Answer

Hamkorbank operates throughout all regions of Uzbekistan with 157 banking service offices. The bank has established a comprehensive branch network covering Andijan, Fergana, Jizzakh, Kashkadarya, Namangan, Samarkand, Surkhandarya, Tashkent city, Tashkent region, and other oblasts.

The bank's network includes full-service branches, mini-banks, and modern banking service offices in both urban centers and rural areas. This widespread presence allows Hamkorbank to support economic development across diverse regions, with particular strength in agricultural areas where it provides financing to dairy, horticulture, and other agribusiness sectors.

Question 5

What services does Hamkorbank offer?

Accepted Answer

Hamkorbank provides a comprehensive range of banking services including retail banking, commercial lending, microfinance, deposits, cash and money transfer services, foreign exchange operations, letters of credit, and leasing. The bank specializes in lending to small and medium-sized enterprises, with SMEs comprising 53% of its client base, corporates 33%, and individuals 14%.

Digital services are a key focus, with the bank offering the Hamkor Mobile application for online banking, mobile payments, virtual card issuance, currency exchange, and money transfers. The bank supports international payment systems including VISA and China Union Pay, and facilitates international money transfers through Western Union, Golden Crown, CaspianMoneyTransfer, and other systems.

Hamkorbank also provides internet banking, SMS banking, call center support (1220), and has introduced contactless payments and QR-code services. The bank is a member of SWIFT for international transactions and operates an extensive network of ATMs throughout the country.

Question 6

What makes Hamkorbank unique?

Accepted Answer

Hamkorbank distinguishes itself as the market leader in microfinance and small business lending in Uzbekistan. The bank has maintained successful partnerships with international financial institutions for over 15 years, including the International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), FMO (Dutch development bank), and ResponsAbility Investment Company.

The bank is particularly notable for its commitment to green finance and sustainable banking. Hamkorbank has become a pioneer in green lending, working with international partners to establish itself as a green bank and finance environmentally sustainable agricultural modernization projects. All of its offices are fully equipped with solar panels.

Hamkorbank's focus on innovation is evident in its early adoption of digital technologies. It was the first bank in Uzbekistan to offer virtual Humo cards through its mobile application and introduced remote international money transfer crediting capabilities. The bank has received multiple international recognitions, including being named "Best Bank in the Developing Markets" in Asia by Global Finance and "Best Bank for Small and Medium Sized Business" by Asian Banking & Finance.

Question 7

What type of financial institution is Hamkorbank?

Accepted Answer

Hamkorbank is a universal commercial bank (aksiyadorlik-tijorat banki) operating under a full banking license from the Central Bank of the Republic of Uzbekistan. As a universal bank, it provides comprehensive banking services to all customer segments including retail clients, small businesses, medium and large enterprises, and agricultural producers.

The bank operates as a joint-stock company with foreign capital participation, reflecting its international partnerships with institutions like IFC, FMO, and ResponsAbility. This structure allows Hamkorbank to access international capital markets and maintain foreign currency operations while serving the domestic Uzbek market with local expertise and presence.

Hamkorbank

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About Hamkorbank in Uzbekistan