Why is this important
The revocation of the license from “Yangi Bank” became the final point in the history of the young organization, which operated in the country for about 2.5 years and managed to receive complaints from the Central Bank and incur losses twice based on the results of its work. For clients, the main problem is not only the return of deposits but also access to money in card accounts.
What happened
- Yangi Bank lost its Central Bank license after a period of restrictions and unresolved problems with capital and financial indicators.
- The bank operated from May 2023 and ended its operations with losses, and in 2024-2025, the indicators worsened amid the growth of liabilities and accumulation of undistributed losses.
- After the liquidation began, clients encountered problems with card accounts, and the regulator outlined the procedure for generating registers and subsequent payments.
- The Central Bank held a press conference where key issues related to bank liquidation and solutions for card users and deposit holders were explained.
Cardholders and depositors
- After the license was revoked, customers – cardholders – encountered blocking and the impossibility of transferring or withdrawing money.
- The Central Bank announced that registers of depositors with refund amounts will be formed within 8 working days, after which payments will be made based on them.
- In the remaining 7 working days, payments will be made in accordance with the procedure established by law and in accordance with the legislation in force for 2025, with the funds being returned primarily to the salary accounts.
History
- The organization received a Central Bank license in May 2023 and lost it in January 2025, after working for a total of 2 years and 8 months.
- According to the results of 2023, the bank’s financial loss amounted to 2.5 billion soums, and by the end of 2024 – 31.9 billion soums.
- In 2024, the bank’s liabilities increased by 88.6 billion soums (or by 72.3%) and reached 211.2 billion soums.
- At the beginning of April 2024, a decree came into force, according to which the bank was required to approve a minimum authorized capital of 500 billion soums.
- At the beginning of 2025, the Central Bank developed a set of measures to bring the authorized capital in line with the requirements and temporarily restricted the bank’s active activities.
Results of 2025
- As of January 1, 2026, the bank’s authorized capital was 355 billion soums, meaning it did not meet the minimum level of 500 billion soums.
- Based on the results of 2025, the bank’s retained earnings amounted to 136 billion soums, and by the beginning of this year, another 1 billion soums.
- According to Bankers.uz, according to the results of January-September 2025, Yangi Bank became the most unprofitable bank in Uzbekistan with a loss of 95.3 billion soums, with losses exceeding 40 billion soums in the last quarter.
- According to preliminary data from the Central Bank, as of January 13, 2026, Yangi Bank’s total assets are 577.2 billion soums, and its loan portfolio is estimated at 190 billion soums.
- The volume of highly liquid assets reached 126 billion soums, including 31 billion soums in the Central Bank, 14.5 billion soums in other banks, and 80 billion soums in securities acquired through REPO transactions.
- A significant portion of assets are fixed assets – 254.7 billion soums, of which the bank building is valued at 155 billion soums, and intangible assets at 103 billion soums.
- The bank’s total liabilities amount to 394 billion soums, and the bank’s equity capital is set at 182.9 billion soums.
- The population’s deposits and funds on bank cards of individuals reach 279 billion soums, while the balances on demand deposits and term deposits of legal entities reach 109.3 billion soums.
Manual
- Ownership chain: 100% through “YANGI-GROUP” LLC, which belongs to Singapore’s “YANGI HOLDING” PTE. LTD (formerly GRAMTON INVESTMENTS).
- According to orginfo.uz, as of July 28, 2023, Odil Amerkulov was listed as the director of “YANGI-GROUP”, while on other platforms, as of March 21, 2025, Timofey Smirnov is listed as the head, who also heads “SANOAT ENERGETIKA GURUHI ENERA” and is a member of the bank’s supervisory board along with Azamat Guseynov from the ERIELL GMBH representative office.
- Several times, the ERIELL international oil service group found itself in public controversial situations: controversial stories about the company’s role in energy projects and the distribution of large contracts were mentioned in the media, and the company itself wrote rebuttals.
Context
- The commencement of liquidation in the event of a combination of chronic losses and an uncovered capital deficit means that further satisfaction of the claims of clients and counterparties proceeds only through the established procedure and decisions of authorized bodies.
- For corporate clients, the priority of salary account payments and the legal settlement regime are important, as this affects the fulfillment of obligations to employees and partners.
