Eurasian Bank Loses Licence in Uzbekistan Over Capital Shortfall and Regulatory Breaches

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International Department Journalist
Корреспондент
A liquidation commission will be formed to oversee the closure
Eurasian Bank in Uzbekistan
Eurasian Bank entered Uzbekistan in 2024. Photo: Eurasian Bank

The Central Bank of Uzbekistan has withdrawn the licence of Eurasian Bank, citing insufficient charter capital and non-compliance with other mandatory requirements.

From January 1, 2025, the minimum capital requirement for commercial banks in Uzbekistan rose to 500 bn soums ($40.28 mln). Eurasian Bank, however, remained at just 200 bn soums ($16.1 mln), falling short of the threshold. Alongside this breach, the bank failed to meet additional regulatory obligations.

A liquidation commission will be formed to oversee the closure. From the day its licence was revoked, the institution has been prohibited from accepting deposits, issuing loans or engaging in any other banking activity.

According to Central Bank figures, as of August 1, Eurasian Bank ranked last among all commercial banks in the country by assets, which stood at 104 bn soums ($8.37 mln).

Eurasian Bank entered Uzbekistan in 2024 as a subsidiary of Kazakhstan’s Eurasian Bank. The financial institution had intended to pursue active expansion across the Uzbek market, yet those plans were derailed by shareholder disputes at the parent company and a decline in its financial performance.

Kursiv also reports that Uzbekistan’s banking industry is expected to maintain strong momentum over the next three to five years.

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