Ziraat Bank Uzbekistan – A 32-Year Legacy
Today, Ziraat Bank Uzbekistan celebrates its 32nd anniversary, holding an important position in Uzbekistan’s financial sector as the first commercial bank established with foreign investment participation.
The Bank was founded in 1993 under the name UTBANK (Uzbekistan-Turkey Bank) through capital contributions from Turkey’s Ziraat Bank A.Ş. and Uzbekistan’s Agrobank. From its inception, Ziraat Bank Uzbekistan has established itself as one of the most successful financial institutions in the Republic of Uzbekistan.
Key factors in the Bank’s success are its continuous commitment to development and the high professionalism of its team, reflected in its stable market position. Today, Ziraat Bank Uzbekistan enters a new phase of development aimed at providing its clients with expanded opportunities and improving service quality.
The Bank’s operations are shaped by two main factors:
- The experience of Turkey’s Ziraat Bank A.Ş., recognized internationally for the high quality of its services in global banking and financial markets;
- Effective support for joint projects between Uzbekistan and Turkey, and the development of Turkey’s representations in Tashkent.
As a foreign bank operating in the Republic of Uzbekistan, Ziraat Bank Uzbekistan conducts its activities in line with the state policy to strengthen the country’s banking sector. The Bank operates in compliance with Uzbekistan’s legal and regulatory framework, which ensures operational efficiency. To support growth, the Bank implements mechanisms for service diversification, development of new banking products, and the application of modern banking technologies in accordance with international customer service standards.
On November 30, 2017, Turkey’s Ziraat Bank A.Ş. fully acquired the 50% stake previously owned by Agrobank OAJ in UTBANK, becoming the sole shareholder. Following this transaction, the Bank’s name was changed to Ziraat Bank Uzbekistan.
Turkey’s investments in Uzbekistan, including through Ziraat Bank Uzbekistan, represent an important step in improving the country’s investment climate. The Bank is also actively expanding its geographic presence. Currently, there are two branches and one corporate service office in Tashkent. In 2020, a branch was opened in Samarkand; in 2021, in Fergana; in 2022, in Andijan; and in 2023, in Bukhara. In the coming years, new offices are planned in Namangan, Navoi, Jizzakh, Urgench, and the Sergeli district of Tashkent, aiming to cover 80% of the country.
The sole shareholder of Ziraat Bank Uzbekistan is Turkey’s state-owned Ziraat Bank A.Ş., the largest credit institution in Turkey with over 160 years of history, providing corporate, commercial, agricultural, and retail banking services.
We are a Turkish bank with the widest international network, aiming for overseas expansion and already having a presence in many countries worldwide.
The Ziraat Bank Financial Group encompasses areas such as leasing, pension funds, insurance, real estate, investment banking, and information technology.