What Trastbank does

Trastbank (Trastbank xususiy aksiyadorlik banki) is a private joint-stock commercial bank headquartered in Tashkent, Uzbekistan, founded in 1994 and operating under license #44 from the Central Bank of Uzbekistan issued on October 21, 2017. The bank serves both retail individuals and corporate clients across all 14 regions of Uzbekistan through an extensive physical distribution network comprising 14 bank service offices, 120 mini-bank centers, 88 money transfer branches, 165 retail cash desks, 653 ATMs, 19 currency terminals, and 28 exchange offices. Its core products span deposits (five distinct products with interest rates ranging from 6% to 20% annually), consumer and auto lending (auto credit from 22.9% APR up to 60 months), SME and corporate financing, international trade services, currency exchange, securities transactions, money transfers, and a full range of plastic cards across VISA, Mastercard, UzCard, and Humo networks including premium tiers.

The bank operates a digital banking stack comprising the Trastpay consumer mobile application (card-to-card transfers, online microloans, cashback up to 2%, online deposits, currency conversion), the Trust Bank Business application for corporate clients (payment orders, invoicing, currency monitoring), internet banking via ibank2.trustbank.uz, SMS banking, and a digital branch (Raqamli filial) concept. Two wholly-owned subsidiaries extend the product surface: Trast Muamalat MCHJ (transaction processing) and Trast Leasing MCHJ (equipment and asset financing).

The bank's business model is a standard commercial bank spread: net interest income from lending operations (consumer, auto, SME, microloans) net of deposit funding costs, plus transaction fee income from money transfers, card operations, guarantees, payroll projects, currency exchange, and trade finance. International financial partnerships — most notably $47 million cumulative financing from the International Islamic Trade Finance Corporation and a $5 million agreement with the Uzbekistan Economic Opportunities Expansion Fund — are providing capital for SME lending expansion. The bank is governed by Chairman of the Management Board Normuhamedov Sardor Rifatovich (since 2017) and holds ISO 9001:2015 and ISO 37001:2016 certifications.

Name

Trastbank

Legal name

Trastbank xususiy aksiyadorlik banki

Website

https://trustbank.uz

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Trastbank is a private Uzbek commercial bank serving retail and corporate clients across all 14 regions of Uzbekistan through 14 branches, 120 mini-banks, 653 ATMs, digital channels, and subsidiaries Trast Muamalat and Trast Leasing.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), SME Cash Management & Payments (Merchant, ACH/Wires, Payroll) (FSABABAD), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)

Keywords

• Retail banking services
• Commercial lending
• Currency exchange operations
• Deposit products
• Money transfer services

Headquarters

HQ city

Tashkent

HQ country

Uzbekistan

HQ region

Asia

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Lending: The bank generates revenue through interest income from various credit products including consumer loans, auto loans, SME lending, and micro-loans. Auto credit starts from 22.9% annual rate.
2. Commission Income: Revenue from commission fees on various banking services including plastic card operations, money transfers, guarantees and letters of credit, and salary project operations.
3. Deposit Operations: The bank accepts deposits from individuals and corporates with various deposit products including Online-Universal (20% annual), Bolajon (14%), Ishonchli sarmoya (7%), and Onlayn-Istiqlol (6%).
4. Currency Exchange Operations: Revenue from currency exchange operations through bank offices, ATMs with exchange capability, and 28 dedicated exchange offices across Uzbekistan.
5. Securities Operations: Bank conducts securities transactions including government securities and corporate securities for clients.
6. Export-Import Operations: Foreign economic activity services including currency operations, trade contracts, credit agreements, and non-trade currency operations.
7. Leasing Operations: Through subsidiary Trast Leasing, the bank provides leasing services for equipment and assets.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels5 records

Core offering

Trastbank is a universal commercial bank in Uzbekistan that accepts deposits from individuals and corporates, originates consumer and auto loans (from 22.9% APR), extends SME and individual entrepreneur credit lines (up to 3 billion UZS and 500 million UZS respectively), issues VISA, MasterCard, UzCard and Humo plastic cards, executes domestic and international money transfers, performs currency exchange and securities operations, and provides export-import trade services. Distribution spans 14 bank service offices, 120 mini-bank centers, 653 ATMs, the Trastpay consumer mobile app, Trust Bank Business corporate app, and internet banking.

Product overview

Trastbank is a private joint-stock commercial bank in Uzbekistan offering a comprehensive suite of financial products and services. The product portfolio consists of digital banking platforms (Trastpay mobile app for retail customers, Trust Bank Business app for corporate clients), deposit products (Online-Universal, Universal, Bolajon, Ishonchli Sarmoya, Onlayn-Istiqlol), plastic card offerings across VISA, MasterCard, UzCard, and Humo networks including premium cards (VISA INFINITE, MasterCard World Elite), cobadge cards, and specialized cards (Uzcard Kids, payroll cards), loan products (auto credit, consumer credit, small business cash credits up to 3 billion UZS, individual entrepreneur credits up to 500 million UZS), money transfer services, internet banking, SMS banking, and leasing services through subsidiaries Trast Muamalat and Trast Leasing. The bank serves both retail (individuals) and corporate (businesses) segments across 14 bank service offices and 120 mini-bank locations throughout Uzbekistan.

Differentiator

Problem solved

Functional benefit

Brands

• Trastpay: Mobile banking application for personal and corporate customers offering card transfers, online microloans, cashback, currency conversion, and deposit services.
• Trust Bank Business

Products and services

• Trastpay Mobile Banking Application Mobile banking application for personal banking customers enabling card-to-card transfers, online microloans, service payments with up to 2% cashback, loan repayment from Trastbank, online deposit opening, and foreign currency conversion.
• Trust Bank Business Mobile Application Mobile banking application for corporate clients and individual entrepreneurs enabling payment order submission, invoice generation, budget transfers, currency rate monitoring, and 24/7 access to account transaction information.
• Onlayn-Universal Deposit Online deposit product with 20% annual interest rate and 24-month term for growing personal savings of individual customers.
• Universal Deposit Standard deposit product for reliable personal savings with flexible terms, targeted at individual customers.
• Bolajon Deposit Children's deposit product with 14% annual interest rate designed for long-term savings for minors, opened by parents or guardians.
• Ishonchli Sarmoya Deposit Investment deposit with 7% annual interest rate allowing additional deposits during the first 12 months, targeted at individual customers building long-term savings.
• Onlayn-Istiqlol Deposit Online deposit product with 6% annual interest rate for 13 months, designed for self-service savings by individual customers.
• MasterCard World Elite Credit Card Premium international credit card offering financial freedom and exclusive travel benefits and privileges worldwide for premium individual customers.
• VISA INFINITE Credit Card Top-tier premium VISA card offering the most exclusive services and benefits, representing the highest status in the VISA payment system.
• Visa-HUMO and UzCard-MasterCard Cobadge Cards Dual-interface cobadge cards combining multiple payment systems (Visa-HUMO and UzCard-MasterCard) usable both domestically in Uzbekistan and internationally abroad.
• MasterCard Standard Debit Card Most popular and widely accepted international debit card in Uzbekistan, enabling payments for goods and services worldwide through 22,000 financial institutions across 210 countries.
• Uzcard Kids Debit Card Child-friendly debit card designed for children with parental controls and safe spending features.
• HumoCard National Debit Card National payment card based on the Humo payment system for conducting operations in Uzbekistan and abroad as part of Uzbekistan's national payment system.
• UzCard Salary Debit Card National debit card from the Unified Republican Processing Center, providing secure and compliant payment services in Uzbekistan, used for salary disbursement.
• Auto Credit Vehicle financing starting from 22.9% APR for up to 60 months, available for purchasing vehicles from both primary and secondary markets, targeted at individual consumers.
• Universal Consumer Credit Consumer loan for purchasing domestically produced goods and services in Uzbekistan to meet personal consumption needs of individual borrowers.
• Corporate Plastic Cards Corporate debit cards for organizations to make convenient business payments for operational expenses only, not for personal use.
• Visa Business Debit Card International business debit card for global payments for goods and services, providing modern, reliable, and convenient payment solutions worldwide for corporate customers.
• Payroll Cards Salary disbursement cards for employers to pay employee wages through Trastbank's card infrastructure under the payroll project service.
• Small Business Cash Credit Cash credit up to 3 billion UZS for small business development, available to entrepreneurs with primary and secondary accounts.
• Individual Entrepreneur Cash Credit Cash credit up to 500 million UZS for individual entrepreneurs to start and expand their business activities.
• Internet Banking Online banking platform enabling 24/7 access to account management, transfers, payments, and financial services through a web interface for both retail and corporate customers.
• SMS-Bank SMS notification and banking service providing real-time transaction alerts and account activity updates via text messages.
• Money Transfers International and domestic money transfer services with high security, enabling transfers to any destination in minutes with guaranteed cash delivery only to the designated recipient.
• Export-Import Operations Foreign economic activity services including all types of currency operations under current legislation, trade credits, loan agreements, and non-trade currency operations for corporate clients.
• Trast Leasing Services Leasing services for equipment and asset financing offered to business customers through wholly-owned subsidiary Trast Leasing MCHJ.

Quantifiable outcome

• 120 SME projects financed with $67 million through international partnerships, creating 500+ jobs

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Trust Muamalat LLCcoreStrategic or Co-development PartnerWholly-owned subsidiary of Trastbank providing additional financial services and operational support to the bank network.
• Trust Leasing LLCcoreStrategic or Co-development PartnerWholly-owned subsidiary of Trastbank providing leasing services for equipment and asset financing to bank's corporate and SME clients.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hamkorbank: Largest private commercial bank in Uzbekistan offering retail, SME, and corporate banking, foreign exchange, and plastic cards. Closely comparable to Trastbank as a private full-service competitor with similar multi-channel distribution and digital ambitions.
• Kapitalbank: Major Uzbek private commercial bank with strong retail, SME, and corporate franchise plus an in-house digital platform. Direct competitor to Trastbank across deposits, lending, cards, and digital banking.
• Davr Bank: Uzbek private commercial bank offering retail deposits, consumer and SME loans, plastic cards, and money transfers. Comparable in scope, private-ownership profile, and target segments to Trastbank.

Broad incumbents

• Asaka Bank: Large state-owned commercial bank in Uzbekistan serving corporate, SME, and retail clients with broad banking and trade-finance capabilities. Comparable as a systemically important competitor that constrains Trastbank's pricing in corporate and SME segments.
• Uzpromstroybank (Uzbek Industrial and Construction Bank): State-owned bank historically focused on industrial and construction finance, now a universal commercial bank. Comparable in product breadth but with state-linked deposit funding and corporate relationships that Trastbank competes against.
• National Bank of Uzbekistan (NBU): Systemically important state-owned commercial bank in Uzbekistan. Competes across retail, SME, and corporate banking and sets a benchmark for product pricing that constrains Trastbank's margins.

Regional players

• Ipoteka Bank: Uzbek state-owned bank specializing in mortgage and retail lending. Comparable to Trastbank's retail and consumer-credit product set, and a direct competitor for household deposits and consumer loans.
• Qishloq Qurilish Bank: Uzbek state-owned bank focused on agriculture and rural lending. Comparable to Trastbank's regional branch and mini-bank network insofar as both serve underbanked regional customers.
• Aloqa Bank: Uzbek state-owned bank associated with the communications and IT sector, offering retail and SME products including deposits, loans, and plastic cards. Comparable as another multi-channel competitor in Trastbank's primary markets.

Emerging players

• TBC Bank Uzbekistan (TBC UZ): Digital-first entrant in Uzbekistan operated by TBC Bank Group PLC. Competes with Trastbank's Trastpay and internet banking for digitally native retail and SME customers, raising the bar on user experience and pricing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@trastbank8448
• Facebookfacebook.com/trustbank.uz
• Instagraminstagram.com/trustbank_uz

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors1 record

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 Trastbank