Tenge Bank

What Tenge Bank does

Tenge Bank (JSCB Tenge Bank / АКБ «Tenge Bank») is a privately held commercial bank headquartered in Tashkent, Uzbekistan, founded in 2019 and operating under banking license No. 85 from the Central Bank of Uzbekistan (renewed May 12, 2026). It is a subsidiary of Kazakhstan's Halyk Bank, the country's largest retail bank, and leverages the parent's infrastructure, POS network, and regulatory framework to serve both retail and business customers in Uzbekistan. The bank runs 501-1,000 employees and serves retail individuals (salary earners, pensioners, self-employed), small and medium businesses, larger corporates, and financial institutions via correspondent banking.

The core technology platform consists of two mobile applications: Tenge24 (retail) and Tenge Business (SME/corporate), which enable remote account opening, online lending, deposits, card management, and cross-border transfers. Underlying infrastructure includes cloud-based electronic digital signatures for remote business onboarding, SWIFT integration for international wires, NFC contactless payment support, and interoperability with five payment systems (Uzcard, HUMO, Visa, Mastercard, and an exclusive American Express acceptance partnership). The bank's recent strategic initiative is the HUMO Cross-Border Payment Service, launched in March 2026, enabling Uzbek HUMO cardholders to transact at Halyk Bank's POS network in Kazakhstan with automatic UZS-to-KZT conversion.

The revenue model combines interest income from mortgages, auto loans (Drive brand, 0% promotional APR), online microloans (up to 90 million UZS, from 31.8% annual), and business credit (from 26% annual, up to 5 billion UZS); transaction-based fees including card issuance, merchant acquiring (3% on American Express), and trade finance services; and net interest spread on deposits (USD deposits at 4% annual). Distribution is digital-first via mobile apps, complemented by physical branches, an ATM network, and a POS acquiring infrastructure spanning Uzbekistan, with the Halyk Bank network in Kazakhstan extending cross-border reach.

Name

Tenge Bank

Legal name

JSCB "Tenge Bank" (АКБ «Tenge Bank» - Joint Stock Commercial Bank "Tenge Bank")

Website

https://tengebank.uz

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Tenge Bank is a Tashkent-based commercial bank and subsidiary of Kazakhstan's Halyk Bank, serving Uzbek retail and SMB customers through digital-first platforms Tenge24 and Tenge Business. It offers cards, deposits, lending, acquiring, and cross-border HUMO payments into Kazakhstan via Halyk Bank's POS network.

Ownership category

akta.pro rank

Product category

Universal Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Banking Suite (Business Accounts, Invoicing, Payroll Integrations) (FSAGAAAI)

akta.pro secondary industries

SME Lending Platforms & Embedded SME Credit (FSAKAGAJ), General-Purpose Credit Card Schemes (FSAMAAAA)

Keywords

• Retail banking services
• Mobile banking app
• Small business lending
• Cross-border payments
• Merchant acquiring services

Headquarters

HQ city

Tashkent

HQ country

Uzbekistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Interest Income: Interest earned on loans including mortgages, auto loans, microloans, and business credits. Interest rates vary by product type, term, and borrower's profile.
2. Card Commission Income: Fees from card issuance, maintenance, and transaction processing. Includes merchant discount rates on POS terminals (3% for American Express).
3. Banking Service Fees: Account maintenance fees, transfer fees, currency conversion commissions, and trade finance service fees.
4. Deposit Interest Spread: Spread between interest paid on deposits (from 4% annual in USD) and interest earned on loans.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Tenge Bank is a commercial bank in Uzbekistan providing retail and business banking services through the Tenge24 mobile app for individuals and the Tenge Business mobile app for SMEs. It offers deposit accounts, consumer and business loans (microloans, auto loans, mortgages, working capital and investment financing), debit cards across multiple payment networks (Visa, Mastercard, HUMO, Uzcard, American Express), domestic and cross-border money transfers, POS acquiring, and trade finance instruments. The bank is a subsidiary of Kazakhstan's Halyk Bank and uniquely enables HUMO card payments in Kazakhstan through Halyk Bank's POS network.

Product overview

Tenge Bank operates as a universal financial services platform offering a comprehensive banking product portfolio to both retail and business customers in Uzbekistan. The core digital platforms are Tenge24 (retail mobile banking) and Tenge Business (business digital banking), which provide access to the full range of products. Retail offerings include multiple debit card tiers (Visa Platinum/Infinite, Mastercard World/Black Edition, HUMO, Uzcard Duo, Individual Design Cards, Kids Cards) with the innovative pay-service for Visa, plus credit products (mortgages, auto loans including Drive brand vehicles, online microloans up to 90M UZS), deposits (term deposits, USD deposits with 4% annual rate), and transfer services (international SWIFT, Kazakhstan transfers, Halyk app transfers). Business banking encompasses online account opening, POS-terminal acquiring (Uzcard, HUMO, AmEx, Visa, Mastercard), working capital and investment loans, preferential loans under PP-312 program, trade finance (guarantees, letters of credit, factoring), and specialized services (payroll projects, currency operations). Tenge Bank's subsidiary relationship with Kazakhstan's Halyk Bank enables unique cross-border HUMO payment services in Kazakhstan's POS network. The bank holds a banking operations license (No. 85 dated May 12, 2026) from Uzbekistan's Central Bank.

Differentiator

Problem solved

Functional benefit

Brands

• Tenge24: Mobile banking application for individual (retail) customers offering online microloans, deposits, transfers, and payments.
• Tenge Business
• Drive

Products and services

• Tenge24 Mobile Banking Mobile banking application for retail individuals enabling secure access to bank services including online microloans up to 90 million UZS, online deposits, transfers, payments, and card management with contactless NFC payment support.
• Tenge Business Online Banking Digital business banking platform for legal entities and individual entrepreneurs enabling online account opening, online credit applications, POS terminal management, SWIFT transfers, and currency exchange operations.
• Visa Platinum Debit Card Premium Visa debit card offering international acceptance and standard premium banking services for retail customers.
• Visa Infinite Debit Card Top-tier Visa debit card with premium benefits, global acceptance, and contactless NFC payment support.
• Mastercard World Debit Card Mastercard debit card available for issuance at any Tenge Bank ATM, offering international acceptance for retail customers.
• Mastercard Black Edition Debit Card Premium Mastercard debit card offering high-level service and exclusive privileges for retail customers.
• HUMO Debit Card National HUMO payment system debit card with one-touch payment capability, contactless NFC support, SMS and Telegram notifications, working in Kazakhstan through Halyk Bank's POS network. Daily transfer limit of 800 million UZS for virtual cards.
• Uzcard Duo Debit Card Dual-function debit card accepted at over 2,500 ATMs and merchant terminals in Uzbekistan for deposits, withdrawals, contactless payment, and online transactions.
• Kids Debit Card Debit card product designed for children aged 7 and above, offering minimum commissions and bonus programs with parental oversight features.
• Mortgage Loans (Ipoteka) Housing loans for new and secondary residential property with flexible terms, targeted at retail customers seeking home financing.
• Auto Loans (Avtokredit) Vehicle financing for new cars, imported vehicles, and electric cars, including the Drive brand offering preferential financing (0% promotional rates) on Tracker, Onix, Damas, and Labo models from UzAuto Motors.
• Online Microloan Unsecured online microloan available up to 90 million UZS through the Tenge24 app with annual rates from 30% and terms up to 3 years, targeted at retail customers needing fast collateral-free credit.
• First Step to Business Credit Entry-level credit product designed to help entrepreneurs take their first step into business ownership.
• Term Deposits Term deposit accounts with convenient online opening via the Tenge24 app, offering secure deposit products for retail customers.
• USD Foreign Currency Deposits Foreign currency deposit offering 4% annual rate with a 6-month minimum term and minimum deposit amount of 100 USD, targeted at retail customers seeking USD-denominated savings.
• International SWIFT Transfers International money transfers to bank accounts worldwide via the SWIFT network, available to retail and business customers.
• Transfers to Kazakhstan Halyk Bank Cards Quick cross-border transfers to Halyk Bank cards in Kazakhstan, leveraging the correspondent relationship with Halyk Bank for fast settlement.
• Halyk App Card Transfers Free transfers from Tenge Bank cards to Halyk Bank cards initiated via the Halyk mobile app, enabling low-cost cross-border remittances.
• Card-to-Card Transfers Direct card-to-card money transfer service enabling retail customers to send funds between cards.
• POS Terminal Acquiring Merchant acquiring service enabling businesses to accept Uzcard, HUMO, American Express, Visa, and Mastercard card payments with detailed transaction reporting, including exclusive American Express acceptance in Uzbekistan.
• Online Business Account Opening Digital business account opening via the Tenge Business app completed in approximately 15 minutes using a free cloud-based electronic digital signature, without branch visits.
• Online Credit for Individual Entrepreneurs Unsecured online business credit from 10 million to 300 million UZS at rates from 31.8% annual, processed via the Tenge Business app with 30-minute decision time and no collateral required.
• Business Accelerated Loan Accelerated business loan up to 5 billion UZS for working capital, fixed assets acquisition, or cash loans with terms up to 60 months and grace period up to 6 months.
• Auto for Business Loan Commercial vehicle financing for new and used vehicles up to 3,500 kg, trucks, and special equipment, with rates from 26% annual and terms up to 60 months.
• Preferential Auto Credit for Business Preferential financing for UzAuto Motors vehicles (Onix, Tracker, Damas) with 0% rates for specific terms and down payments, including a grace period of up to 3 months.
• Preferential Small Business Credit (Government PP-312) Preferential small business loan under Government Program PP-312 with limits up to 300 million UZS, rates from 14% to 24% annual, and terms up to 60 months.
• Bank Guarantees Trade finance guarantee services including tender, payment, advance payment recovery, performance, loan repayment, and customs guarantees for corporate and SME clients.
• Letters of Credit Trade finance offering covered, uncovered, and partially covered letters of credit with issuance, execution, advising, and confirmation services for corporate clients engaged in import/export.
• Factoring Open factoring with or without recourse and closed factoring for legal entities and SMEs, with credit lines up to 24 months and maximum tranche up to 80% of the assigned claim.
• Corporate Investment Loans Investment financing up to 60 billion UZS for fixed asset investments, real estate acquisition, and equipment purchases, with terms up to 7 years, supporting UZS, KZT, EUR, and USD currencies.
• Working Capital Financing Working capital loans up to 65 billion UZS with terms up to 36 months and 12-month tranches, supporting multiple currencies for corporate clients.
• Payroll Project Service Salary project service for legal entities offering free employee card issuance, flexible tariffs, preferential lending for employees, and 24/7 online banking access.
• Currency Exchange Operations Currency conversion services for business clients with favorable exchange rates, SWAP operations, and purchase/sale of foreign currency.
• HUMO Cross-Border Payment Service in Kazakhstan Cross-border payment service enabling HUMO cardholders issued by Tenge Bank to pay for goods and services at Halyk Bank's POS terminals in Kazakhstan, with automatic UZS-to-KZT currency conversion supporting physical and digital cards including NFC.

Quantifiable outcome

• Cross-border payment acceptance in Kazakhstan through Halyk Bank's largest POS network
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor, core and flagship.

• Embassy of Kazakhstan in UzbekistanminorStrategic or Co-development Partner · 7 March 2026Kazakhstan's Ambassador Beibut Atamkulov met with Tenge Bank board member Beibit Faleev to discuss strengthening bilateral trade, economic, and investment cooperation. Both parties emphasized the role of banking sector in facilitating settlements, supporting joint projects, and developing trade finance instruments to increase mutual trade turnover.
• HUMOcoreTechnology or Integration · 6 March 2026Uzbekistan's national payment system HUMO partnered with Tenge Bank and Halyk Bank to launch cross-border payment services in Kazakhstan. HUMO cardholders can now pay for goods and services in Kazakhstan through Halyk Bank's POS terminals with automatic currency conversion from Uzbek soums to tenge.
• KinstellarminorImplementation/ SI/ Consulting Partner · 29 July 2025Legal advisory firm providing counsel on the $237 million cross-border fintech deal between Halyk Bank and Click involving Tenge Bank.
• ClickflagshipStrategic or Co-development Partner · 1 July 2025Cross-border fintech partnership involving mutual investment. Under the deal structure announced July 2025, Halyk Bank was to acquire 49% stake in Click for $176.4 million while Click shareholders were to acquire 49% of Tenge Bank for $60.76 million. The deal was not completed by the December 31, 2025 deadline and parties continue to discuss future cooperation options.
• American ExpresscoreTechnology or IntegrationTenge Bank is the exclusive partner of American Express in the Republic of Uzbekistan for card acceptance. The bank installs payment terminals enabling merchants to accept American Express card payments, with a 3% commission rate for transactions.
• MastercardcoreTechnology or IntegrationPartnership for issuing Mastercard debit cards including World, Black Edition, and other tiers. Cards available at Tenge Bank ATMs and branches.
• VisacoreTechnology or IntegrationPartnership for issuing Visa debit and credit cards including Platinum and Infinite tiers. Cards support contactless NFC payments and online transactions.
• UzcardcoreTechnology or IntegrationPartnership for issuing Uzcard Duo cards enabling card transactions at over 2,500 ATMs and merchant terminals in Uzbekistan.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Halyk Bank: Kazakhstan's largest bank by assets and Tenge Bank's parent. Provides the correspondent banking, POS network, and capital backing that defines Tenge Bank's cross-border value proposition; broadly incumbent across retail, SMB, and corporate banking.

Direct peers

• Kaspi.kz: Kazakhstan's leading super-app combining payments, marketplace, and fintech. Closely comparable to Tenge Bank's digital-first model and a benchmark for what the Halyk-linked Uzbek franchise could scale into within the Central Asian corridor.
• Kapital Bank (Uzbekistan): One of Uzbekistan's largest private commercial banks with a strong digital and retail franchise. Directly comparable to Tenge Bank on retail/SME banking product suite and Uzbek market positioning.
• National Bank of Uzbekistan (NBU): Uzbekistan's leading state-owned commercial bank. Comparable universal banking product set (deposits, lending, cards, trade finance) at much larger scale, and the dominant benchmark Tenge Bank competes against in the domestic market.
• Asaka Bank: Major Uzbek state-owned commercial bank focused on corporate and SME lending. Comparable to Tenge Bank's business banking, working capital, and trade finance offerings, with significantly larger balance sheet.
• Ipoteka Bank: Uzbek state-owned bank specializing in mortgage and retail lending. Comparable to Tenge Bank's mortgage, auto loan, and retail credit products, particularly the Drive and online microloan offerings.
• Click: Uzbekistan's dominant consumer fintech and payment platform. The proposed Tenge Bank cross-shareholding partner and a peer in the digital financial services space; comparable on mobile-first customer acquisition and payment infrastructure.
• Sanoat Qurilish Banki (SQB): Major Uzbek state-owned commercial bank with extensive corporate, investment, and trade finance offerings. Comparable to Tenge Bank on investment loans, working capital financing, and multi-currency corporate banking.

Regional players

• ForteBank: Kazakh digital-first bank with strong retail and SME digital franchise. Comparable on mobile-first banking model and Central Asian cross-border context; operates primarily in Kazakhstan rather than Uzbekistan.
• TBC Bank Group: Georgia-headquartered digital-first bank expanding across CIS and Uzbekistan via TBC Uzbekistan. Comparable as a regional digital banking franchise targeting underbanked retail and SMB customers in emerging CIS markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tengebank.uz
• LinkedInlinkedin.com/company/tenge-bank

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tenge Bank