A significant step in the development of Uzbekistan’s private sector and digital economy has been taken through a strategic agreement between the country’s leading payment system, Click, and Central Asia’s largest financial group, Halyk Bank.

Under the agreement, Halyk Bank will acquire a 49 percent stake in Click for $176.4 million. In return, Click’s shareholders will purchase a 49 percent stake in Halyk Bank’s subsidiary in Uzbekistan, JSCB Tenge Bank, for $60.76 million. This transaction marks the largest deal in the history of Uzbekistan’s private sector.

The partnership aims to advance innovative financial services in the country. The synergy between Click and Tenge Bank is expected to foster the introduction of new digital solutions for both private users and businesses. At the same time, both entities will retain their status as independent legal entities.

As part of the cooperation, Tenge Bank’s banking products will be integrated into Click’s digital ecosystem. Over 70,000 partner services currently using Click will gain expanded access to corporate banking tools, creating a unified platform for comprehensive business services.

UzA