Why is this important
The rebranding and new license signify the legal completion of Smart Bank’s transformation into Open Bank. This underscores the stability of banking sector regulation and the ability of financial institutions to renew without losing their status.
What happened
- At the annual meeting, Smart Bank shareholders unanimously approved the renaming to Open Bank and the change of the domain (openbank.uz).
- The bank’s legal address has also been changed during the licensing process.
- Saderat Bank Tashkent received a new license after being reorganized from a subsidiary to an independent joint-stock company.
- Anorbank and Hayotbank have been re-registered due to postal address changes.
Context
Smart Bank received its first license from the Central Bank in December 2022, becoming the first new bank after the revocation of licenses from Turkiston Bank and Hi‐Tech Bank. The main shareholder of the banking group is the Future Open Technology Group (85.1%).
