{"id":11588,"date":"2025-10-23T11:12:52","date_gmt":"2025-10-23T06:12:52","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/open-bank-has-increased-its-user-base-by-10-times-in-a-month\/"},"modified":"2025-10-23T11:12:52","modified_gmt":"2025-10-23T06:12:52","slug":"open-bank-has-increased-its-user-base-by-10-times-in-a-month","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/open-bank-has-increased-its-user-base-by-10-times-in-a-month\/","title":{"rendered":"Open Bank has increased its user base by 10 times in a month"},"content":{"rendered":"<p><strong>Why is this important<\/strong><\/p>\n<p>The remote banking market is consolidating around top 5 players who control over 70% of the market, intensifying competition for the digital audience.<\/p>\n<p><strong>What happened<\/strong><\/p>\n<ul>\n<li>Open Bank increased its user base from 85.8 thousand to 917.4 thousand in September \u2014 an increase of 10.7 times;<\/li>\n<li>Uzum Bank added nearly 500 thousand customers (+9.1%), reaching 5.9 million users;<\/li>\n<li>TBC Bank recorded a 12% decrease;<\/li>\n<li>The total number of accounts in the country has exceeded 74 million, of which 97.7% belong to individuals.<\/li>\n<\/ul>\n<p><strong>Top 5 banks by client base (as of October 1)<\/strong><\/p>\n<ol>\n<li><strong>Xalq Bank<\/strong> \u2014 8.19 million users<\/li>\n<li><strong>Aloqabank<\/strong> \u2014 6.28 million<\/li>\n<li><strong>Uzbek Industrial and Construction Bank<\/strong> \u2014 6,01 million<\/li>\n<li><strong>Uzum Bank<\/strong> \u2014 5.90 million (+9.1%)<\/li>\n<li><strong>TBC Bank<\/strong> \u2014 5.59 million (-12%)<\/li>\n<\/ol>\n<p>The top 5 banks control more than 70% of the remote banking market.<\/p>\n<p><strong>Context<\/strong><\/p>\n<p>Open Bank&#8217;s tenfold growth in a month is an unprecedented figure, which can be linked to promotions for new clients, integration with major platforms, or user transfers from other banks. This dynamic requires a sustainability test: it&#8217;s important to understand whether customers will remain active. <\/p>\n<p>Uzum Bank continues to build its base through an ecosystem approach and integration with the Uzum Market marketplace. TBC Bank&#8217;s 12% decrease may indicate customer outflow to more aggressive competitors or clearing the database of inactive accounts. <\/p>\n<p>The concentration of 70% of the market in five banks strengthens entry barriers for new players and increases the importance of digital products in the competitive struggle. The growth of the total number of accounts to 74 million with a population of about 36 million people means that on average, there are more than two bank accounts per resident. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In September, the number of active Open Bank users increased from 85.8 thousand to 917.4 thousand &#8211; an increase of almost 10 times. This is the highest dynamics among all banks in the country. APEX BANK, Business Development Bank, and Uzum Bank also ranked among the fastest-growing banks.  <\/p>\n","protected":false},"author":4,"featured_media":11258,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sharing_image":{"poster":"https:\/\/frank.uz\/wp-content\/uploads\/2025\/10\/68fa58344cc81.jpg","width":1200,"height":630,"template":"2bf59057","mode":"auto"},"_sharing_image_fieldset":{"Dv78f24rp1hU":11258,"YlB8HH34jIzY":"Open Bank has increased its user base by 10 times in a month"},"pin_until":"","footnotes":""},"categories":[2061],"tags":[2079,3408,2660,2290,3407],"class_list":["post-11588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-finance","tag-online-banking","tag-open-bank-en","tag-rating","tag-uzum-bank-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Open Bank has increased its user base by 10 times in a month &#8212; Frank.uz<\/title>\n<meta name=\"description\" content=\"In September, the number of active Open Bank users increased from 85.8 thousand to 917.4 thousand - an increase of almost 10 times. This is the highest dynamics among all banks in the country. APEX BANK, Business Development Bank, and Uzum Bank also ranked among the fastest-growing banks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/frank.uz\/en\/news-en\/open-bank-has-increased-its-user-base-by-10-times-in-a-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Open Bank has increased its user base by 10 times in a month\" \/>\n<meta property=\"og:description\" content=\"In September, the number of active Open Bank users increased from 85.8 thousand to 917.4 thousand - an increase of almost 10 times. This is the highest dynamics among all banks in the country. 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