2024 was a very important period in the history of Octobank. Significant progress was made in key areas.
In 2024, Octobank made an impressive leap, solidifying its market presence and achieving significant progress in key areas. The bank not only confirmed its financial stability, obtained a credit rating from Ahbor Reyting, and successfully completed ISO certification, but also positioned itself as a leader in innovation, becoming the key partner of FINNEXT Asia and actively participating in the international Sibos conference.
With a remarkable increase in assets and profitability, Octobank has reaffirmed its efficiency and dynamic growth. These achievements, backed by historical data and expert economic analysis, reflect the bank’s successful strategy and commitment to providing high-quality financial services.
Throughout the year, the bank achieved significant milestones, including the full resolution of non-performing assets, sponsorship of strategic events, expansion of its client base, and international partnerships. These accomplishments confirm Octobank’s technological leadership and reliability.
ISO Certification: A Guarantee of Quality and Stability
In 2025, Octobank successfully obtained certification under ISO standards. The International Organization for Standardization (ISO) is an independent, non-governmental body that develops global standards to ensure quality, security, and efficiency in management processes.
ISO certification involves an external validation of a company’s operational effectiveness in key areas such as service quality and compliance with security regulations.
For clients, this means that the bank operates according to internationally recognized standards, minimizing risks and ensuring reliable service. Additionally, standardization simplifies processes, making them more efficient and user-friendly.
ISO certification guarantees seamless operations and service quality without delays or errors. Moreover, it ensures that the bank has all the necessary tools and processes to provide the best customer experience and resolve any issues promptly.
Octobank Receives Credit Rating from Ahbor Reyting
The Ahbor Reyting agency highly assessed Octobank’s financial performance, awarding it a «UZA» rating with a «Stable» outlook.
Ahbor Reyting is one of Uzbekistan’s most reputable rating agencies, recognized as a pioneer and leader in the country’s credit rating industry.
A bank’s credit rating is the result of an in-depth evaluation of its financial condition, ability to meet obligations, and overall reliability. The financial community acknowledges that Octobank possesses a high degree of creditworthiness, as confirmed by its rating.
- For partners, this means a trustworthy institution for long-term collaboration.
- For clients, it guarantees security, high-quality service, and banking stability.
Octobank Becomes the Title Partner of FINNEXT Asia 2024
In 2024, Octobank became the title partner of FINNEXT Asia, a premier financial innovation forum in Asia. This event gathers industry leaders to exchange experiences and attract investments.
As a title partner, Octobank holds the highest level of participation and support, reinforcing its position as an innovative, stable, and ambitious bank. This partnership enables the bank to adopt best global practices and integrate them into its services.
Participation in the Sibos 2024 International Conference
From October 21 to 24, 2024, Octobank participated as a sponsor at the Sibos conference in Beijing.
This global event attracted over 10,000 financial institution representatives and 2,000 companies, including the U.S. Federal Reserve and the European Central Bank.
At the conference, Octobank held strategic negotiations with major international banks, including Bank of New York Mellon and JP Morgan Chase, exploring cooperation in financing, complex financial instruments, transactional services, interbank operations, and credit solutions.
Additionally, agreements were reached on financial analysis and prudential regulatory compliance, ensuring the bank’s long-term security and stability.
Growth in Assets and Profitability
Between 2022 and 2024, Octobank saw explosive growth in assets:
- 2022–2023: Assets increased from 843 billion to 2.367 trillion UZS.
- 2024: Assets reached 3.163 trillion UZS, maintaining a strong growth trend.
In 2022, the bank reported losses, possibly due to initial investments in development. However, by 2023, Octobank not only became profitable but also reported a net income of 74.7 billion UZS.
In 2024, profitability doubled, reaching 150.7 billion UZS, confirming strong business strategy and operational efficiency.
Additionally, the bank’s capital increased to 700 billion UZS in 2024, further strengthening its financial stability.
Reduction of Non-Performing Assets
In 2024, Octobank successfully reduced its non-performing assets by 324 billion UZS.
- May 2024: Non-performing assets stood at 76.9%.
- June 2024: All non-performing assets were fully resolved.
This achievement placed Octobank among the top seven banks in Uzbekistan to completely eliminate problematic assets, reinforcing its reputation as a reliable financial institution.
Visa Award: «Best Acquiring Bank in E-Commerce 2024»
Octobank received the prestigious Visa award for being the «Best Acquiring Bank in E-Commerce 2024».
This recognition highlights the bank’s efficiency in processing online payments for e-commerce businesses. It also strengthens the partnership between Visa, the global leader in payment services, and Octobank, which continues to drive the development of Uzbekistan’s digital economy.
Sponsorship at Plus Forum 2024
In 2024, Octobank became a Platinum Sponsor of the Plus Forum, one of the leading conferences for banking technologies, artificial intelligence, and cybersecurity.
Platinum sponsorship highlights the bank’s commitment to innovation, industry development, and investment in the future of banking.
Plans for 2025: Rebranding and New Website
In 2025, Octobank will launch a new website with modern design, improved navigation, and enhanced functionality.
Additionally, the bank will undergo a rebranding, reflecting its dynamic growth and commitment to innovation.
Octobank Reaches 3.6 Million Clients in 2024
With 3.6 million customers, Octobank has demonstrated rapid growth, establishing itself as one of Uzbekistan’s most trusted and sought-after banks.
International Expansion and Strategic Partnerships
In 2024, Octobank secured key international partnerships, including:
- LSEG (London Stock Exchange Group) – Access to high-quality global financial data.
- Bloomberg – Advanced financial analytics tools.
- WeChat Pay (Tenpay) – Integration with China’s leading payment system, enabling seamless transactions for businesses.
With these achievements, Octobank continues to shape the future of banking, strengthening its growth and leadership in Uzbekistan and beyond.
