Aloqabank
Aloqabank is a state-owned universal commercial bank in Uzbekistan, established 1994, serving retail individuals and corporate clients through 94 branches nationwide, digital platforms Zoomrad (3.65M+ users) and AloqaBusiness, and a full suite of deposits, loans, cards, and Islamic financing products.
- Company typePrivate
- Founded1994
- HeadquartersTashkent, Uzbekistan
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Aloqabank does
Aloqabank is a state-owned universal commercial bank headquartered in Tashkent, Uzbekistan, majority-owned by the Government of Uzbekistan and established in 1994 by Cabinet of Ministers Resolution No. 502. The bank serves both retail individuals and corporate clients through 94 Complex Service Centers (KXKM) covering all regions of Uzbekistan, supported by 162 ATMs, 37,105+ POS/E-POS terminals, and a network of 500+ neighborhood bankers (Mahalla bankirlari) for rural financial inclusion. Digital banking is delivered through the Zoomrad mobile app (3.65M+ users) for retail and AloqaBusiness platform (29,500+ corporate users), built on the Colvir Banking System implemented in August 2021.
The bank's product portfolio spans the full banking suite: deposits (Intellekt, Joziba Plus, Aloqachi, Comfort Plus, Chorak Asr Online), credit products (microloans from 24-25% APR, auto loans from 25%, mortgages at 17-18% up to 240 months, education loans at 14%, preferential youth credits at 18%), and an extensive card portfolio across HUMO, UzCard, VISA, Mastercard, UnionPay co-branded, and specialty cards (Ferz premium, Innova for IT/startups, children's cards, virtual cards). Corporate banking includes Islamic financing (murabaha, ijara, musharaka), factoring, leasing (via AloqaLeasing subsidiary), bank guarantees, and trade finance lines from international partners (ICD, ITFC, Commerzbank, Landesbank Baden-Württemberg). The bank holds ISO 9001:2015 certification, SWIFT membership since 2001, UnionPay Eurasian Regional Council membership, and Fitch BB / Moody's Ba3/B1/NP ratings.
Revenue is generated primarily through interest income from lending (45% loan growth in 2025), net interest spread on deposits, and transaction fees from cards and money transfers (Western Union, Unistream, Zolotaya Korona, SWIFT). In May 2026, the bank completed its inaugural $300M eurobond issuance, marking its first international debt capital market entry. Three wholly-owned subsidiaries — AloqaVentures (venture investing, including zypl.ai), Aloqa Aktiv, and Aloqalizing — provide ecosystem diversification. Despite aggressive balance sheet expansion, Fitch notes profitability remained weak with a net loss recorded in 2025.
Aloqabank firmographics
Firmographics- Name
- Aloqabank
- Legal name
- Aksiyadorlik tijorat «Aloqabank»
- Website
- https://aloqabank.uz
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Aloqabank is a state-owned universal commercial bank in Uzbekistan, established 1994, serving retail individuals and corporate clients through 94 branches nationwide, digital platforms Zoomrad (3.65M+ users) and AloqaBusiness, and a full suite of deposits, loans, cards, and Islamic financing products.
- Ownership category
- akta.pro rank
Aloqabank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (52211)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Islamic Retail Banking (FSABAGAA)
- akta.pro secondary industries
- Islamic SME & Commercial Banking (FSABAGAB), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI)
Keywords
Where Aloqabank is headquartered
LocationHeadquarters
- HQ city
- Tashkent
- HQ country
- Uzbekistan
- HQ region
- Asia
Offices13 records
Markets served
Aloqabank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income from Lending: Core revenue stream from providing credit products including mortgages (17-18%), auto loans (23%+), microloans (24-25%), personal loans, and business loans. The bank achieved 45% loan growth in 2025, significantly outpacing the sector average of 13%.
- Deposit Taking and Interest Expense: Attracting customer deposits through various deposit products (Intellekt, Joziba Plus, Aloqachi, Joziba, Kelajak Uchun, Comfort, Comfort Plus, Chorak Asr Online) and paying interest to depositors.
- Commission and Fee Income: Fees from card services, money transfers (including Western Union, Unistream, Zolotaya Korona), payment services, currency exchange, and banking service charges.
- Corporate Banking Services: Services to corporate clients including cash management, payroll projects, guarantee letters, factoring, leasing operations, and Islamic financing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Microloans: 2-60 months, from 25% annual rate |
| Subscription | Monthly | Auto loans: up to 5 years, from 25% annual rate |
| Subscription | Monthly | Mortgages: 17-18% annual rate, up to 240 months |
| Subscription | Monthly | Youth loans: up to 7 years, from 18% annual rate |
| Subscription | Monthly | Education loans: 14% annual rate |
| Subscription | Annual | Deposit products: various rates |
| Subscription | Annual | Card fees: 30,000-200,000 UZS depending on card type |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
Aloqabank product offering
Product offeringCore offering
Aloqabank is a state-owned universal commercial bank in Uzbekistan providing a full suite of retail and corporate banking services. Core offerings include deposits (Intellekt, Comfort Plus, Chorak Asr Online), consumer and business credit products (microloans, mortgages, auto loans, education loans), payment cards across VISA, Mastercard, HUMO, UzCard and UnionPay networks, money transfers, Islamic financing, factoring, leasing, and digital banking through the Zoomrad mobile app and AloqaBusiness corporate platform.
Product overview
Aloqabank operates as a universal banking platform offering a comprehensive suite of financial products and digital services for both retail (individuals) and corporate clients in Uzbekistan. The product portfolio spans core banking services including deposits (Intellekt, Comfort Plus, Chorak Asr Online, and others), credit products (microloans, auto loans, mortgages, education loans, youth credits), and an extensive range of banking cards (VISA, Mastercard, HUMO, UzCard, UnionPay co-branded cards, and specialty cards like Ferz premium and Innova for IT professionals). Digital services are delivered through two mobile applications: Zoomrad for retail customers and Aloqa Business for corporate clients, supported by internet banking, electronic queue booking, and contactless payment services like HUMOPay. Corporate banking includes specialized offerings such as Islamic financing, factoring, leasing, and bank guarantees. The platform differentiates through convenience features like 15-minute card issuance, nationwide ATM network (162 ATMs), and extensive branch coverage (94 complex service centers).
Differentiator
Problem solved
Functional benefit
Brands
- Zoomrad: Mobile banking application for retail customers providing account management, payments, transfers, and card services
- Aloqa Business
- AloqaVentures
- Aloqa Aktiv
- Aloqaleasing
Products and services
- Zoomrad Mobile Banking App Mobile banking application for retail customers enabling account management, payments, money transfers, card controls, credit applications, and access to banking services on smartphones with biometric security.
- Aloqa Business Mobile Platform Digital services platform for corporate clients providing mobile banking, business process digitization, and access to Aloqabank and partner ecosystem products and services.
- Online Microloan Quick consumer loan for urgent financial needs with terms from 2 to 60 months and annual rates starting from 24-25%.
- Mortgage Loans Mortgage loans for housing purchase with terms up to 240 months (20 years) and rates of 17-18% per annum, including Ministry of Economy-funded primary market mortgages.
- Auto Loans Vehicle financing for locally manufactured automobiles with terms up to 5 years and interest rates from 23-25%, including specialized BYD auto credit at 18.9% for 36-60 months.
- Education Loan Loan product for education purposes with terms up to 175 months and fixed rate of 14% per annum.
- Youth Business Credit Preferential microloan for youth entrepreneurship development with terms up to 7 years and annual rates starting from 18%.
- Intellekt Deposit Flexible deposit allowing active use and free management of funds while earning interest for individual customers.
- Comfort Plus Deposit Foreign currency savings deposit allowing accumulation in foreign currency with additional income opportunity for individuals.
- Chorak Asr Online Deposit Online deposit with higher interest rates connected to the Zoomrad app, providing convenient terms for fund placement.
- Ferz Premium Card Premium debit card with dedicated premium office service, personal approach, highest-level service, unlimited access to CIP lounge at Tashkent International Airport, and fast track services at airports worldwide.
- Innova Card Specialized banking product for IT, technology, digital, startup, and freelance sectors, offering grants, scholarships, event referrals, and benefits from AloqaVentures portfolio companies.
- VISA Card International VISA payment card allowing cash withdrawals at ATMs worldwide, with 15-minute issuance time and contactless payment support.
- HUMO Card Local HUMO payment card enabling free money transfers between HUMO cards, with NFC contactless payment technology support.
- UzCard-UnionPay Co-branded Card Joint card of UzCard and UnionPay payment systems, usable across both payment system infrastructures for retail customers.
- Islamic Financing Sharia-compliant financing solutions including murabaha, ijara, and musharaka structures for corporate clients.
- Factoring Services Factoring services for corporate clients to improve cash flow and working capital management.
- Leasing Operations
Quantifiable outcome
- Loan portfolio grew 45% in 2025, significantly outpacing sector average of 13%
- +3 more outcomes
Companies that use Aloqabank
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
Aloqabank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Aloqabank partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, major and minor.
- Fitch RatingscoreInternational rating agency that affirmed Aloqabank's Long-Term Issuer Default Rating at BB with Positive Outlook in June 2026. Also affirmed the bank's Viability Rating at b, reflecting moderate probability of state support given government ownership.
- China Investment Attraction CentermajorPartnership for Smart Agriculture initiative and bilateral investment cooperation between Uzbekistan and China in agricultural sector, including regional projects in Samarkand and Jizzakh.
- UnionPay InternationalcoreStrategic partnership for card services. Aloqabank became UnionPay International Eurasian Regional Council member in November 2019. Received UnionPay Discovery of the Year 2018 award.
- VISA InternationalcorePartnership for VISA payment card services, including capability to issue VISA cards in 15 minutes.
- SWIFTcoreSWIFT membership since September 2001 for international payment messaging and transfers.
- Uzbekistan Banking AssociationcoreMembership in banking association for industry representation and standards.
- Uzbekistan Beekeepers AssociationminorPartnership for Honey Festival exhibition and agricultural sector development.
- Uzbekistan Ministry of AgriculturemajorCo-organizer of bilateral roundtable for agricultural investment cooperation between Uzbekistan and China.
- AloqaVenturescoreVenture fund subsidiary investing in startups including zypl.ai (AI software), part of Aloqabank's ecosystem for innovation and startup support.
- IT Park UzbekistanminorPartnership for startup acceleration programs, including collaboration with Plug and Play for international acceleration program launched October 2022.
- Uzbekistan Youth UnionminorPartnership for youth entrepreneurship development and support programs signed July 2020.
- OTP BankminorPartnership for international banking cooperation and services.
Scale indicators9 records
Recent moves9 records
Expansion highlights6 records
Aloqabank competitors and assessment
Company assessmentDirect peers
- Qishloq Qurilish Bank (Agro Bank): Uzbek state-owned bank with deep rural and agricultural penetration. Competes with Aloqabank's neighborhood banker program (Mahalla bankirlari) and agricultural lending offerings including Smart Agriculture initiatives.
- Ipoteka Bank: Uzbek state-owned bank specializing in mortgage lending and government housing programs. A peer in residential mortgage and government-backed lending, though more narrowly focused than Aloqabank's universal banking model.
- Hamkorbank: Leading private commercial bank in Uzbekistan with a strong regional branch network and digital platform. Directly comparable to Aloqabank in retail/SME lending and digital banking services.
- Kapital Bank (Uzbekistan): One of the largest private commercial banks in Uzbekistan with extensive retail and digital banking offerings. Competes with Aloqabank for retail deposits, consumer loans, and digital banking customers across Uzbekistan.
- National Bank of Uzbekistan: Largest state-owned commercial bank in Uzbekistan offering retail, corporate, and Islamic banking services. Direct competitor with similar nationwide branch network, government backing, and full-service product suite targeting the same Uzbek retail and corporate segments.
- Asaka Bank: Major Uzbek state-owned commercial bank with strong corporate focus. Competes directly with Aloqabank in corporate lending, deposits, and government-mandated financing programs, particularly in industrial and infrastructure sectors.
- Uzbekistan Industrial and Construction Bank (Sanoat Qurilish Bank): State-owned Uzbek bank serving industrial and construction sectors. Competes with Aloqabank's AloqaBusiness corporate platform for corporate clients in manufacturing, construction, and infrastructure financing.
Regional players
- TBC Bank: Leading digital-first bank in Georgia with strong retail and SME lending franchises. Comparable in digital transformation trajectory and emerging-market retail banking focus, though serving a different regional market with different ownership structure.
- Halyk Bank: Largest retail bank in Kazakhstan with similar universal banking model, strong digital platform, and state-influenced ownership structure. Comparable in product breadth, digital transformation scale, and emerging-market banking dynamics, though operating in a different Central Asian market.
Emerging players
- Kaspi.kz: Kazakhstan-based super-app combining payments, marketplace, and fintech services. Relevant as a benchmark for digital banking and consumer finance penetration in Central Asia, though operating in a more developed market with a different business model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Aloqabank social profiles
Digital presenceAloqabank compliance and trust
Trust signalCompliance2 records
Aloqabank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aloqabank leadership team
Management profileNumber of profiles
Profiles7 records
Aloqabank subsidiaries and ownership
Company hierarchySubsidiaries3 records
Aloqabank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aloqabank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aloqabank
What does Aloqabank do?
Aloqabank is a state-owned universal commercial bank in Uzbekistan providing a full suite of retail and corporate banking services. Core offerings include deposits (Intellekt, Comfort Plus, Chorak Asr Online), consumer and business credit products (microloans, mortgages, auto loans, education loans), payment cards across VISA, Mastercard, HUMO, UzCard and UnionPay networks, money transfers, Islamic financing, factoring, leasing, and digital banking through the Zoomrad mobile app and AloqaBusiness corporate platform.
Is Aloqabank a public or private company?
Aloqabank is a private company. It is classified as state government owned and is currently operating.
When was Aloqabank founded?
Aloqabank was founded in 1994. It employs 101 to 250 people.
Where is Aloqabank based?
Aloqabank is headquartered in Tashkent, Uzbekistan, in the Asia region.
How does Aloqabank make money?
Four revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Taking and Interest Expense, commission and Fee Income and corporate Banking Services.
Who are Aloqabank's main competitors?
Direct peers on record are Qishloq Qurilish Bank (Agro Bank), Ipoteka Bank, Hamkorbank, Kapital Bank (Uzbekistan), National Bank of Uzbekistan, Asaka Bank and Uzbekistan Industrial and Construction Bank (Sanoat Qurilish Bank). Regional players are TBC Bank and Halyk Bank. Kaspi.kz is listed as an emerging player.
Does Aloqabank have an API?
No public API is recorded for Aloqabank.
What industry is Aloqabank in?
Aloqabank's product category is Commercial Banking. Its primary akta.pro industry code is FSABAGAA, Islamic Retail Banking, with a secondary code of FSABAGAB, Islamic SME & Commercial Banking. Its NAICS code is 52211 and its SIC code is 6021.