We are thrilled to announce that Joint-Stock Commercial Bank Microcreditbank (MKBANK) has signed a groundbreaking joint-venture partnership with UnaFinancial, an international group of companies offering fintech services in Asia and Europe.
MKBANK and UnaFinancial, through its Singaporean entity Robocash PTE LTD, are establishing a new microfinance organization (MFO), dedicated to empowering micro and small business owners and providing inclusive financial services. Having established successful fintech projects in numerous countries worldwide, UnaFinancial brings a wealth of international experience to develop the microfinance sector in Uzbekistan.
“We are confident that by combining UnaFinancial's proven track record with MKBANK's local market knowledge, we can establish a formidable force in the microfinance landscape,” stated Akmal Khamidov, 1st Deputy Chairman of the Management Board of MKBANK. “We will provide comprehensive support to the new MFO, offering local expertise, branch infrastructure, and resources to ensure high-quality financial services for our clients.”
“We are honoured to take this opportunity and become a part of this collaboration,” - commented Almaz Torutayev, Regional Director for Central Asia at UnaFinancial. “Today, the microfinance sector in Uzbekistan is experiencing strong growth. Since 2018, the size of loan portfolios has nearly doubled. We hope that our new product will make its contribution to the development of the local market. We aim to make it convenient and accessible in all regions of the country, helping more customers to get financing to develop their businesses”
Subject to obtaining the necessary regulatory approvals from the Central Bank of the Republic of Uzbekistan, the new joint venture is projected to commence operations by the end of 2024. Notably, MKBANK received advisory services from ScholzvonGleich (SvG), a leading international investment bank, during the partner selection and MFO establishment process.
About UnaFinancial
UnaFinancial is a group of companies developing easy-to-use digital financial solutions in the Asia and Europe. The group aims to provide simple and reliable access to finance through innovative technologies, focusing on what customers truly need. Since its foundation, UnaFinancial has served more than 14 million clients, who got access to over 1.5 bn USD worth of loans.
Contact Information:
For further inquiries regarding the new MFO, please contact:
• Abbos Djurabaev, MKBANK: a.djurabayev@mkb.uz
• Alyona Nepogodina, UnaFinancial: a.nepogodina@una.financial
See also
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