Question 1

What is Turonbank?

Accepted Answer

Turonbank is a well-established joint-stock commercial bank in Uzbekistan that has been operating since 1990. As one of the first commercial banks established in the Republic of Uzbekistan, Turonbank provides universal banking services to individuals, small and medium-sized businesses, and large corporate clients across the country.

The bank operates approximately 20 branches and numerous banking service offices throughout all regions of Uzbekistan. Turonbank serves major government organizations including the Ministry of Agriculture and Water Resources, the Agency for Road and River Transport, and various state committees, while also maintaining a strong retail and SME client base.

Question 2

When was Turonbank founded?

Accepted Answer

Turonbank was founded on October 6, 1990, when the founding conference of shareholders approved its establishment. The bank was officially registered by the State Bank on November 6, 1990, under registration number 713, making it one of the first commercial banks created in Uzbekistan during the transition from the Soviet system.

The original founders included the Ministry of Land Reclamation and Water Resources, the State Committee for Water Management Construction, the State Committee for Architecture, the Main Department of Cultural Monuments of the Ministry of Culture, and several other organizations. In 1993, the bank was reorganized into the Joint-Stock Commercial Bank "Turon," and in 2002, it officially became Joint-Stock Commercial Turonbank. Since 2007, it has operated as Open Joint-Stock Commercial Turon Bank.

Question 3

Where is Turonbank headquartered?

Accepted Answer

Turonbank is headquartered at 4A Abaya Street in the Shaykhantahur district of Tashkent, Uzbekistan. The capital city location enables the bank to maintain close relationships with government ministries and national institutions while coordinating operations across its nationwide network.

The bank's Tashkent headquarters includes multiple branches and banking service offices in the capital, including locations in Chilanzar, Mirzo Ulugbek, and other districts. From this central base, Turonbank manages its regional operations and international banking relationships.

Question 4

Where does Turonbank operate?

Accepted Answer

Turonbank operates throughout all regions of Uzbekistan with approximately 20 branches and numerous banking service offices covering major cities and regional centers. The bank has established presence in key regions including Tashkent city and region, Andijan, Samarkand, Fergana, Kashkadarya, Surkhandarya, Jizzakh, Navoi, Khorezm, and other areas.

Notable branch locations include offices in Andijan, Samarkand (including the Bogishamol branch), Urgench, Angren, Kattakurgan, Shakhrisabz, and Nuravshan. The bank has also opened modern banking service centers in Chilanzar, Mirzo Ulugbek, Shayhantohur, Almazar, and other districts of Tashkent. Additionally, Turonbank operates round-the-clock self-service zones 24/7 in strategic locations across the country.

Question 5

What services does Turonbank offer?

Accepted Answer

Turonbank provides comprehensive universal banking services including loans, deposits, payment cards, money transfers, currency exchange, letters of credit, trade finance, and leasing. The bank serves retail clients, SMEs, and large corporate customers with tailored financial solutions for each segment.

Digital services have become a major focus, with Turonbank offering a mobile banking application that provides convenient, high-quality, and communication-free access to banking services. The bank has launched remote services allowing individuals and self-employed entrepreneurs to access banking without visiting physical offices. In 2023, Turonbank's mobile app was recognized as one of the "Best Mobile Applications of Commercial Banks."

The bank is a member of the SWIFT international payment system and supports VISA International payment cards. Turonbank was the first representative of "Quick Mail" money transfers in Uzbekistan and also offers Western Union, Coinstar, Contact, Golden Crown, and CaspianMoneyTransfer services. The bank has implemented modern technologies including internet banking, SMS banking, and SWIFT GPI for enhanced international payment capabilities.

All Turonbank offices are fully equipped with solar panels, demonstrating the bank's commitment to sustainable banking practices and environmental responsibility.

Question 6

What makes Turonbank unique?

Accepted Answer

Turonbank distinguishes itself through its strong relationships with government institutions and state-owned enterprises, having served major ministries since its founding. The bank has maintained this positioning for over 30 years while simultaneously developing modern digital banking capabilities and expanding retail services.

The bank has achieved significant recognition in recent years, including taking 3rd place in the "Best Commercial Bank of the Year" competition and winning awards for the "Best Mobile Application of Commercial Banks in 2023." The international rating agency Standard & Poor's assigned Turonbank an individual rating of "B/B" with a "Stable" outlook, while the national rating agency "Ahbor Reyting" assigned a rating of "UzA+" with a "Stable" forecast.

Turonbank has established strong international partnerships, signing bilateral agreements with the Export-Import Bank of China worth $85.8 million and developing correspondent relationships with major international banks. The bank became a member of the Reuters dealing system and joined VISA International as an associate member in 2007.

A unique aspect of Turonbank's strategy is its commitment to environmental sustainability, being among the first banks in Uzbekistan to fully equip all offices with solar panels. The bank has also launched innovative projects in partnership with Inha University in Tashkent to develop internet banking solutions, reflecting its focus on technology and education partnerships.

Question 7

What type of financial institution is Turonbank?

Accepted Answer

Turonbank is an open joint-stock commercial bank (ochiq aksiyadorlik-tijorat banki) operating under license No. 8 issued by the Central Bank of the Republic of Uzbekistan on November 6, 1990. As a universal bank, it provides comprehensive banking services across all customer segments and product categories.

The bank's joint-stock structure includes diverse shareholders from both state and private sectors, though specific ownership details reflect its evolution from state-enterprise foundations to a more commercially oriented institution. Turonbank operates as a full-service commercial bank competing in both retail and corporate banking markets while maintaining traditional relationships with government organizations.

Turonbank

in Uzbekistan 🇺🇿

Crypto-Friendliness

All done!

About Turonbank in Uzbekistan