Raiffeisen Bank Eyes Uzbekistan Entry to Provide Custodial Services
Austrian financial group Raiffeisen Bank International (RBI) is exploring the possibility of entering the financial market in Uzbekistan. According to the press service of the Tashkent Republican Stock Exchange the European banking giant is planning to operate within the country as a custodial bank.
The primary role of a custodial institution is to ensure the safekeeping and management of securities alongside other financial assets belonging to clients. Representatives from the international organisation have already held preliminary discussions with the leadership of the Tashkent trading platform. Under the proposed plans RBI intends to conduct its stock exchange operations through local Uzbekistani brokers.
The foundation for this move was laid recently when the Central Bank of Uzbekistan opened dedicated correspondent accounts for RBI in both national and foreign currencies. The financial regulator noted that this strategic step is designed to strengthen the presence of foreign investors within the domestic securities market.
RBI remains one of the largest banking entities in Europe and currently boasts a massive customer base of 18.6 mln people. As of April this year the bank’s share structure sees 61.17% controlled by eight regional Raiffeisen branches while the remaining 38.83% is in free float.
The corporation reported a solid consolidated profit of €1.4 bn for 2025. Over the course of the year its interest income grew by 1% to reach €4.1 bn while commission revenues generated a further €2 bn.
