Agrobank

What Agrobank does

Agrobank is a state-owned joint-stock commercial bank headquartered in Tashkent, Uzbekistan, operating as the country's third-largest bank by deposits with a 9.1% market share (41.8 trillion soums) and 3.6 million+ customers across a network of 170 branches, 729 ATMs, and 154 smart offices. Founded in 1988 as Uzagroprombank (later Paxtabank) and reorganized under its current name in 2009, the bank traces its origins to the Soviet-era agricultural credit system and retains strong positioning in agricultural, rural, and government-program lending alongside diversified retail and commercial banking.

The bank operates a vertically integrated banking platform spanning retail and corporate products. Retail offerings include microloans (up to 100M soums, 25-34% rates), mortgage products (up to 800M soums, 17-24%), auto loans, green-energy loans, education credit, debit/credit cards across UZCARD/HUMO/Visa/UnionPay networks, savings deposits (Sandiq, Progress, Komfort, Baxtli bolalik), and USD-denominated deposits. Business banking includes express credits up to 5B soums, working-capital revolving facilities, bank guarantees, factoring (international open and digital reverse), large-project financing up to $10M, corporate cards, and six structured international correspondent credit lines (LBBW €100M, Commerzbank €100M, AKA €25M, ODDO BHF €10M, ICD $5M, Ziraat $5M). Technology stack centers on Agrobank Mobile (first Uzbek bank to enable full online identification and virtual card opening), internet banking, MyID digital onboarding, and multiple Telegram bots for service/appeals/compliance.

Revenue is generated principally through net interest margin on lending (loan rates 17-34% vs. deposit costs 5.5-18%), supplemented by transactional fee income from cards, international and domestic remittances (Zolotaya Korona, MoneyGram, RIA, Asia Express, Agro Express), currency exchange (208 dedicated points), documentary operations (letters of credit, guarantees, collections), and factoring services. Customer acquisition combines the 'Mahalla banker' community-based distribution model targeting rural/mahalla-level financial inclusion with digital channels, regional entrepreneur town halls, and salary-project partnerships with budget organizations. The wholly-owned Rivoj Moliya microfinance subsidiary extends the bank's reach into sub-bank-sized microloans and microcredits, while ecosystem extensions (UDEA University, Agrobooks, Agro In Vitro) build long-tail engagement in agritech and financial literacy.

Name

Agrobank

Legal name

Joint stock commercial bank "Agrobank" (JSCB "Agrobank")

Website

https://agrobank.uz

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Agrobank is a state-owned Uzbek commercial bank (founded 1988, headquartered in Tashkent) serving 3.6M+ customers through 170 branches and a digital/mobile platform, offering retail and business loans, deposits, cards, remittances, and factoring, with a strategic focus on agricultural and rural financial inclusion.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (522110)

SIC

State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industry

Agricultural & Rural Development Banks (FSABAKAE)

Keywords

• Commercial banking services
• Consumer lending
• Agricultural finance
• Mortgage loans
• International remittances

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

Revenue model

1. Interest Income (Loans): The primary revenue stream comes from interest income on loans extended to individuals and businesses, including consumer loans, mortgages, auto loans, microloans, agricultural financing, and business credit lines.
2. Deposit Operations: Accepting deposits from individuals and legal entities with interest paid to depositors; margin between lending and deposit rates.
3. Money Transfers and Remittances: International and domestic money transfer services including Zolotaya Korona, Moneygram, RIA, Asia Express, Agro Express.
4. Banking Services and Commissions: Fees from card operations, account maintenance, currency exchange, documentary operations (letters of credit, collections, guarantees), and other banking services.
5. Factoring Services: International open factoring and digital reverse factoring services for corporate clients, generating fees and interest income.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Agrobank is a state-owned joint-stock commercial bank in Uzbekistan providing a comprehensive suite of retail and corporate banking services through 170 branches and digital channels. Its core offerings include consumer and business lending (microloans, mortgages, auto loans, agricultural financing, express business credits), deposits, payment cards (HUMO, UZCARD, Visa, UnionPay), international and domestic money transfers, factoring, bank guarantees, and international banking services supported by correspondent relationships with major foreign banks.

Product overview

Agrobank is a large state-owned commercial bank in Uzbekistan offering a comprehensive suite of banking products and services. The product portfolio is organized into two main segments: retail banking (for individuals) and corporate/business banking. Retail offerings include multiple debit and credit card variants (Humo, UZCARD, Visa, UnionPay), diverse loan products (microloans, mortgages, auto loans, education loans, green energy loans), savings deposits (Sandiq, Progress, Komfort, Baxtli bolalik, Premium USD), and international remittance services. Business banking encompasses corporate cards, various credit facilities (express loans, working capital financing, large project financing), deposit certificates, bank guarantees, factoring services, international banking operations, and correspondent credit lines from international institutions. The bank also operates subsidiaries including Rivoj Moliya microfinance organization and digital initiatives such as Agrobooks educational content and UDEA digital university. All services are accessible through branch network (170 branches), mobile app (Agrobank Mobile), internet banking, and community banking representatives.

Differentiator

Problem solved

Functional benefit

Brands

• Rivoj Moliya: Microfinance organization under the Agrobank ecosystem providing microloans and microcredits for individual entrepreneurs, self-employed citizens, and small businesses in Jizzax city.

Products and services

• Agrobank Mobile Mobile banking application enabling customers to manage finances, transfer money, pay for services, apply for loans, and manage cards online. Available on Android and iOS platforms.
• Internet-bank Online banking platform for account management and transactions via web interface.
• Visa Debit Cards (Classic, Gold, Platinum, Infinite) International Visa debit cards ranging from entry-level (Classic) to top-tier premium (Infinite) with concierge, Fast Track airport access, and exclusive privileges.
• UZCARD Cards (Duo, Sherdor, Kids, Virtual) Domestic debit cards on the UZCARD network including dual-function Duo card, premium Sherdor card, children's Uzcard Kids (managed via Agrobank Mobile), and free virtual Uzcard Virtual for secure online transactions.
• HUMO Cards (Humo Virtual) Virtual debit card on the HUMO network available free of charge for online payments, and the Humo-Visa Kobeyj co-branded card combining HUMO domestic and Visa international payment networks.
• Uzcard-UnionPay Kobeyj Co-branded card combining UZCARD domestic and UnionPay international networks for cross-border transactions.
• Online Mikroqarz (Online Microloan) Online microloan product available up to 100 million soums for 1-4 years at 31-34% interest rate, processed through the Agrobank Mobile app.
• Avans plyus Online microloan for budget organization employees participating in salary project, up to 100 million soums for 2 years at 25% interest.
• Mikroqarz (Standard Microloan) General-purpose microloan up to 100 million soums for up to 5 years, starting from 25% interest rate per annum.
• Arzon Mikroqarz Low-cost microloan up to 100 million soums for up to 5 years from 25% interest.
• Mahalla loyihasi Mikroqarzi Microloan under the Mahalla (community) project up to 50 million soums for up to 60 months at 25% interest.
• Biznesga birinchi qadam Mikroqarzi First Step business microloan for self-employed individuals up to 5 million soums for up to 12 months at 25% interest.
• Xonadon plyus Ipoteka Mortgage loan for primary housing market up to 480 million soums for up to 20 years at 17% interest rate per annum.
• Yangi hayot Ipoteka Mortgage loan for primary and secondary housing up to 800 million soums for up to 20 years at 21.99% interest.
• Ijtimoiy ko'mak Ipoteka Social-assistance mortgage loan up to 120 million soums for 20 years at 18% interest rate, available under state program for eligible citizens.
• Yashil ta'mir Ipoteka Green renovation mortgage loan for housing repairs up to 170 million soums for up to 10 years at 19-20% interest.
• Bizdan uy Ipoteka Mortgage loan for primary and secondary housing up to 15 years at 23.99-24.99% interest.
• Ta'lim krediti (Education Loan) Education loan at Central Bank base rate for students, with special terms for women; amount based on education contract.
• Avtokredit (Auto Loan) Auto loan for primary market vehicles up to 75% of car value for up to 5 years starting from 24% interest per annum.
• Kredit karta (Credit Card) Credit card usable internationally up to 100 million soums for 4 years at 30% interest.
• Open kart Installment payment card with interest-free period up to 82 million soums for 3 years.
• Yashil energiya (Green Energy Loan) Loan for purchasing and installing solar panels and solar collectors up to 100 million soums for 3 years at 20% interest.
• Sandiq Deposit Savings deposit from 100,000 soums for 18 months at 18% annual interest rate.
• Progress Deposit Online-openable savings deposit from 500,000 soums for 13 months at 18% annual interest.
• Komfort Deposit Comfort savings deposit from 500,000 soums for 13 months at 18% annual interest, with partial withdrawal option and additional deposits allowed.
• Baxtli bolalik (Children's Savings) Deposit Children's savings deposit from 100,000 soums for 36, 60, or 120 months at Central Bank base rate, with capitalization at maturity, for a child's future.
• Premium (USD) Deposit USD-denominated term deposit from $100 for up to 24 months at up to 7% annual interest.
• Stimul (USD) Deposit USD-denominated savings deposit from $100 for 24 months at up to 5.5% annual interest.
• Zolotaya Korona (Golden Crown) Remittances International money transfer service through the Golden Crown network for sending/receiving money globally.
• MoneyGram Remittances International money transfer service through the MoneyGram global network.
• RIA Transfers International money transfer service through the RIA network.
• Agro Express Remittances Internal money transfer service operated by Agrobank for domestic transfers.
• Ekspress-avto (Business Express Auto Credit) Express auto loan for new and used commercial vehicles and electric cars up to 3 billion soums for up to 60 months from 23% interest, no down payment required.
• Ekspress-aylanma (Express Revolving Credit) Express revolving credit for replenishing working capital, 100% in cash up to 3 billion soums for up to 36 months at 26-27% interest.
• Ekspress-kredit (Business Express Credit) Express credit for any business purpose up to 5 billion soums for up to 60 months at 26-27% interest.
• Tomchilatib sug'orish krediti (Drip Irrigation Credit) Drip irrigation financing for agricultural enterprises with a 6-month grace period, terms agreed between client and bank.
• Yirik biznes loyihalarini moliyalashtirish (Large Business Project Financing) Large business project financing up to $10 million for up to 48 months at Central Bank rate + 13%.
• Biznes imkoniyat krediti (Family Business Credit) Business opportunity credit up to 300 million soums for up to 7 years from 19% interest under the family business support program.
• Hamroh krediti (Companion Credit for Women) Credit for women entrepreneurs up to 25,000 times the minimum wage for up to 7 years from 20% interest.
• Kapital krediti (Microfinance Capital Credit) Capital credit for microfinance organizations up to 30 billion soums for up to 36 months at 25% interest.
• Yashil energiya Business (Green Energy Loan for Legal Entities) Green energy loan for legal entities up to 5 billion soums for up to 5 years at 21% interest.
• Tayanch Depozit (Business Term Deposit) Business term deposit from 5 million soums for up to 24 months at up to 17% interest.
• Zamin Depozit (Business Deposit with Top-up) Business deposit with top-up option from 5 million soums for up to 24 months at up to 18% interest.
• Visa Business (Corporate Card) Corporate Visa business card for business expenses with a 100,000 soums issuance fee.
• Korporativ karta (Corporate Bank Card) Corporate bank card for business transactions at 15% of minimum wage issuance fee.
• Bank Kafolati (Bank Guarantee Service) Bank guarantee service enabling businesses to obtain goods or services on credit without taking loans or using working capital.
• Xalqaro Ochiq Faktoring (International Open Factoring) International open factoring service for financing export and import receivables on a recourse basis for corporate clients.
• Raqamli Reversiv Faktoring (Digital Reverse Factoring) Digital reverse factoring platform for supplier financing under deferred payment agreements between buyers and suppliers.
• Xalqaro bank operatsiyalari (International Banking Services) International banking services including foreign currency accounts, letters of credit, collections, guarantees, and currency conversion for corporate clients.
• Foreign Bank Credit Line Facilities Credit lines available from international financial institutions including Commerzbank AG (up to 50M EUR, 10 years), LANDESBANK Baden-Württemberg (up to 100M EUR, 10 years), LandesBank Hessen-Thüringen, AKA Bank (up to 25M EUR), ODDO BHF (up to 10M EUR), and the Islamic Corporation for the Development of the Private Sector (up to 5M USD), supporting trade financing and business lending.
• Har bir oila — tadbirkor (Each Family is an Entrepreneur) State program for family business development with preferential financing through Agrobank.
• Mahalla bankiri (Community Banking Program) Community-based banking representatives bringing financial services directly to neighborhood level with field officers, particularly serving rural and underserved areas.
• Rivoj Moliya Microfinance Organization Wholly-owned microfinance subsidiary under the Agrobank ecosystem providing microloans up to 100 million soums for individuals and up to 300 million soums for entrepreneurs, plus factoring and leasing services. Based in Jizzakh.

Quantifiable outcome

• 3.6M+ customers served across Uzbekistan
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• National Bank for Foreign Economic Activity of Uzbekistan (NBU)coreTechnology or IntegrationCorrespondent banking relationship for foreign economic activity settlement within Uzbekistan.
• Zolotaya Korona (Golden Crown)coreChannel Partner/ Reseller/ DistributorInternational money transfer service partnership allowing customers to send/receive remittances.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorInternational money transfer service partnership for global remittance services.
• RIA Financial ServicesminorChannel Partner/ Reseller/ DistributorInternational money transfer service partnership.
• Asia ExpressminorChannel Partner/ Reseller/ DistributorRegional money transfer service partnership for Central Asia.
• Fitch RatingscoreTechnology or IntegrationInternational credit rating agency providing sovereign and bank credit assessments. Agrobank was the first Uzbekistan bank to receive full international rating from Fitch in 2009.
• Asia-Pacific Rural and Agricultural Credit Association (APRACA)minorOthersRegional association for agricultural credit. Paxtabank (predecessor) became member in 1998.
• International Confederation of Agricultural Credit (ICCA/KIKA)minorOthersInternational confederation for agricultural credit. Paxtabank became equal member in 1999.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Kapital Bank: Second-largest Uzbek bank (10% deposit market share, 46.2T soums). Offers similar retail and corporate banking products and competes head-to-head with Agrobank for deposits, SME lending, and remittance services.
• Ipoteka Bank: Uzbek state-owned bank with strong mortgage and retail banking focus. Comparable to Agrobank in government ownership structure and consumer lending operations, particularly in housing finance.
• Asaka Bank: Major Uzbek state-owned joint-stock commercial bank historically focused on industrial and corporate lending. Comparable to Agrobank in government ownership, scale, and full-service commercial banking offering.
• Uzpromstroybank: State-owned commercial bank in Uzbekistan serving industrial and construction sectors with full retail and corporate services. Direct comparable in ownership type, branch reach, and SME/mid-market focus.
• Hamkorbank: One of the largest privately-owned banks in Uzbekistan, offering retail and SME banking across the country. Competes with Agrobank in microloans, consumer credit, and deposit gathering.
• Aloqabank: Uzbek state-owned bank offering retail and corporate banking products including deposits, loans, cards, and money transfers. Closely comparable to Agrobank in state-ownership profile and product breadth.
• National Bank for Foreign Economic Activity of Uzbekistan (NBU): Largest state-owned commercial bank in Uzbekistan (12% deposit market share, 55.3T soums). Directly comparable to Agrobank on full-service retail/commercial banking, government ownership structure, and nationwide branch network.
• Sanoat Qurilish Bank: Uzbek state-owned commercial bank serving industrial and construction sectors with full banking services. Comparable to Agrobank in state ownership, full-service retail/corporate offering, and nationwide footprint.
• Qishloq Qurilish Bank: Uzbek state-owned bank with historical roots in agricultural and rural construction financing. Closely comparable to Agrobank's agricultural sector lending and rural distribution focus.

Emerging players

• TBC Bank Uzbekistan: Digital-first entrant into the Uzbek banking market backed by Georgia-based TBC Bank Group. Competes with Agrobank primarily in retail deposits, payments, and consumer lending through a mobile-led proposition; an emerging threat to traditional banks' customer acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Agrobank_uz
• Facebookfacebook.com/agrobank.uz
• LinkedInlinkedin.com/company/agrobank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors6 records

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

M&A

Investments2 records

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

Frequently asked questions about Agrobank