People’s Bank of Kazakhstan plans to enter the Uzbek market

Tashkent, Uzbekistan ( -- The People’s Bank of Kazakhstan is considering opening a subsidiary bank in Uzbekistan, Reuters agency reported.

The head of the bank Umut Shayakhmetova noted that the financial institution can establish its own subsidiary structure in Tashkent.

“We are at the stage of studying the market, communicating with the regulator and understanding what they want to do,” she said.

Halyk Bank of Kazakhstan is the largest financial group and the leading retail bank in Kazakhstan with the largest customer base and distribution network. The Bank also conducts its operations in Russia, Georgia and Kyrgyzstan and is an agent of the Government of Kazakhstan for the payment of pensions and benefits through its branch network.

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