Ratings from International Agencies Moody’s and S&P Global Ratings, Launch of ESG Projects, Financial Literacy for Schoolchildren, and Other Achievements of Octobank
Record Profit in Q1
Net profit amounted to 108.5 billion UZS, a 397.5% increase compared to the same period in 2024. For comparison, Octobank’s profit for the entire year of 2024 was 150.7 billion UZS, meaning the quarterly result nearly matched the full year’s outcome.
Other indicators:
- Assets — 4.1 trillion UZS (+42.4% year-on-year);
- Capital — 873.5 billion UZS (+74.3% year-on-year);
- Non-interest income exceeded 1.3 trillion UZS, while expenses amounted to nearly 1.1 trillion UZS.
Received Two International Ratings — from Moody’s and S&P Global Ratings
These are two of the largest international rating agencies. Moody’s assigned a rating of B3, and S&P — B-; in both cases, the outlook is “stable”.
According to Moody’s assessment, by the end of 2024, Octobank had strong financial indicators and capital levels. The agency expects the bank’s financial position to remain stable over the next 12–18 months. With the launch of new products, expansion of the client base, and maintenance of current indicators, Octobank’s rating may be upgraded, the agency reports.
The “B” rating from S&P indicates the bank’s ability to meet obligations with moderate sensitivity to economic fluctuations, and the “stable” outlook suggests the current assessment will be maintained over the next 12–18 months.
The agencies noted business stability, strong capitalization, growing profitability, and a digital strategy.
“This is Octobank’s first international rating — and we see that our bank’s development course is chosen correctly. The Moody’s rating will help us build even more stable relationships with international partners and make us more visible in the global market. We have large-scale plans to launch new products and services, which will become the main driver of our bank’s growth in the coming years,” — said Iskandar Tursunov, Chairman of the Board of Octobank.
Awarded “Leading Acquiring Bank in Uzbekistan”
At the April E-commerce Central Asia Expo forum, Octobank received the award as the leading acquiring bank in Uzbekistan for 2024.
“The received award is not just a sign of recognition for us, but a confirmation of our systematic work in the field of acquiring. We actively implement technological solutions, support online business and the entrepreneurial sector, making digital payments faster, safer, and more accessible for everyone. We are grateful for the high evaluation and will continue to strengthen our role in the development of e-commerce in Uzbekistan,” — emphasized Dilshod Pulatov, First Deputy Chairman of Octobank.
Assisting IT Park Residents in Entering International Markets
In April, Octobank signed an agreement with IT Park: providing residents of the technopark with payment infrastructure for cross-border settlements — gaming services and technopark startups developing SaaS solutions. The cooperation will give residents access to fast and secure international payments, simplifying their work in the global market and increasing their competitiveness.
“We highly appreciate the coordinated work of IT Park and the readiness to support each resident. This cooperation will enhance the country’s export potential by providing Uzbekistan’s IT companies with tools to enter new markets,” — noted Pavel Limarenko, Director of the E-commerce Department at Octobank.
Calculated Brand Value — First in Uzbekistan
Octobank became the first brand in Uzbekistan to have its market value officially calculated. The assessment was conducted as part of the Brand Awards International.
According to experts, the bank’s brand is worth $30 million (388 billion UZS at the Central Bank’s exchange rate in March). This confirms that investments in brand recognition, service quality, and marketing contribute to increased loyalty and capitalization. For the bank, such an assessment is not just recognition but an additional resource in communication with investors and entering the international level.
Became One of the Most Mentioned Banks in Uzbekistan’s Media
According to a study by the Index agency, Octobank entered the top five private banks in Uzbekistan by the number of mentions in online media. From January 1 to March 15, 2025, the bank was mentioned 107 times — only in professional and news publications, excluding Telegram and social networks. Octobank notes that the growth in media activity indicates how in-demand the bank’s products are and how actively it participates in the market’s life.
“For us, the number of media mentions is an indicator of how in-demand and interesting our products are. This rating helps to understand how we look compared to other strong players and what place we occupy among the leaders. We are creating a bank that makes clients’ lives more convenient — and the more they write about us, the more people learn about us and our products,” — commented Komiljon Saidov, Head of the Executive Office at Octobank.
Launched ESG Projects in Tashkent’s Mahallas
Octobank initiated environmental and social projects in the capital’s mahallas — Nurliyo‘l and Eski Jarariq. Bank employees planted over 150 fruit trees in the courtyards of houses and on plots of low-income families. The goal is not only greening but also creating a sustainable source of income for residents.
The initiatives are part of the “From Poverty to Prosperity” program and reflect our desire to be helpful not only in banking matters but also in community life.
Educating Schoolchildren in Financial Literacy
In March, Octobank launched an educational series of lectures on financial literacy as part of the international initiative “Global Money Week–2025”. The first lessons were held in schools No. 110 and No. 345 in Tashkent. Our speakers explain interactively how to plan a budget, why savings are needed, and how the banking system works.
“Understanding such things as savings, loans, expenses, and income is the foundation that will allow young people to avoid financial mistakes in the future and competently manage their resources already now,” — said Navruz Musaev, Director of the Problem Assets Department at Octobank.
Read more:
Octobank’s 2025 Milestones: Rapid Growth and International Recognition