Why is this important
The bank’s comment softens the perception of the situation, portraying it as a strategic move rather than merely a regulatory sanction. For the financial sector, this indicates increasing capital requirements and the stability of banks in Uzbekistan.
What happened
- On 28 August, the Central Bank of Uzbekistan announced the revocation of the Eurasian Bank’s licence (Uzbekistan).
- Reason: failure to meet capital minimum requirements and breach of banking legislation.
- In response, the Eurasian Bank stated that the decision to stop investing in the Uzbek “daughter” was made in advance — at the level of the board of directors;
- The bank’s current focus is on executing projects and solidifying its position in Kazakhstan’s domestic market.
What they say
The Eurasian Bank’s press service states that concentrating on the domestic market (Kazakhstan — ed.) will enable the launch of new projects and reinforce positions in key sectors most important to clients and partners.
Context
The Eurasian Bank received approval to operate in Uzbekistan in 2022, but it has yet to implement large-scale operations. Based on the results of the first half of 2025, it has been listed among the unprofitable banks (minus 51.6 billion soums).
