BNK Capital Establishes New Microfinance Corporation in Uzbekistan

BNK Capital announced on the 14th that it established a new Microfinance Organization (MFO) in Uzbekistan on the 13th.

Uzbekistan is BNK Capital's sixth overseas expansion country. It is the third in Central Asia, following Kazakhstan and Kyrgyzstan. Previously, BNK Capital steadily expanded its global network, starting with Cambodia and Myanmar in 2014, Laos in 2015, Kazakhstan in 2018, and Kyrgyzstan in 2023.

The newly established Uzbekistan MFO will primarily engage in microfinance services such as real estate and automobile secured loans, new car installment financing, and loans for Uzbek workers entering Korea. The company plans to gradually expand branches to increase market share. Additionally, it aims to build a profit-centered portfolio through synergy with its already established entities in Kazakhstan and Kyrgyzstan.

A BNK Capital official stated, “BNK Capital will respect the characteristics and culture of the local market and cooperate with local customers and businesses,” adding, “We will repay the new relationship with Uzbekistan through warm and righteous finance that coexists with the local community.”

Meanwhile, BNK Financial Group Chairman Bin Dae-in personally attended the opening ceremony of the Uzbekistan MFO. BNK Capital operates microloans and leasing businesses with about 1,000 employees across seven entities, including those in Uzbekistan, Myanmar, Cambodia, Laos, Kazakhstan, and Kyrgyzstan.