Our 2024 research focused on SME banking in Uzbekistan, an area where data was previously scarce. We wanted to understand how SMEs choose banks, who makes those decisions, what they prioritize, and their biggest challenges.
Nobody knew, so we decided to change that.
We spoke with multiple business owners, business managers, independent accountant and leading accounting firms, and then ran a small 70+ people survey covering most regions of Uzbekistan.
Nobody knew, so we decided to change that.
We spoke with multiple business owners, business managers, independent accountant and leading accounting firms, and then ran a small 70+ people survey covering most regions of Uzbekistan.
SME Banking in Uzbekistan, a client view (2024)
CASE STUDY
Here is what we’ve learned:
The only bank consistently mentioned as somewhat ahead of the competition is KapitalBank
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Service quality can vary significantly between branches of the same bank
The state-owned banks are precepted as having lower service level than private banks
Digital accessibility is crucial: Over 70% of respondents defined a "good bank" as one offering digital services with minimal branch visits
Bank selection is generally not considered a high-priority decision for most entrepreneurs
More than 80% of decision-makers don't thoroughly compare bank conditions and tariffs
Banks are missing out on leveraging professional accounting services, which play a significant role in guiding firms' banking decisions
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Tashkent, Uzbekistan
Tashkent, Uzbekistan
