Uzbekistan's best bank for SMEs 2023: Hamkorbank
Hamkorbank wins best bank for small and medium-sized enterprises in Uzbekistan in recognition of its continued commitment to providing high quality service to SME clients in the country. Some 98.87% of the bank’s corporate clients are SMEs, and as of January 1, 2023, Hamkorbank holds 19.12% of the SME market in Uzbekistan.
The bank provides good service to SMEs throughout the country thanks to its physical offices in many remote regions, as well as its digital presence. The bank gained 1,920 new SME customers in 2022 and has achieved steady growth in the volume of credit given to the sector over the past several years.
SME customers have access to more than 15 credit products and lending services. Following market research in 2022, the bank made changes to credit conditions such as prolonging terms, decreasing interest rates, and increasing maximum amounts for credit products offered to SMEs.
Hamkorbank was the first in the market to offer Islamic financing to SMEs, appealing to many such business owners in the majority-Muslim country.