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This Business Plan of JSCB "Kapitalbank" (hereinafter referred to as the Bank) for 2024, developed taking into account the financial report for 2023 and the general vision of the Bank's further development, describes the main areas and the most promising business directions, in which the Bank will strengthen its focus in the coming 2024, as well as the ways of their implementation to coordinate the work of all structural subdivisions and increase the efficiency of its activities. This Business Plan is supplemented by documents containing key business growth indicators, including indicators of the Bank's financial position and performance.

The Business Plan serves as a basis for subsequent management control over the Bank's financial activities and facilitates early adaptation to possible changes in the financial environment.

The main concept on the basis of which the Business Plan was created is the Bank's mission, namely the creation of a powerful financial supermarket operating in the most profitable segments of the most promising sectors of the financial market. In particular, one of the key aspects that will be emphasised is customer focus, as well as maintaining a leading position, following the principle of striving to be a champion, which best describes the Bank's financial performance.

The business plan serves the Bank's main objective of further strengthening its position as a modern, innovative and dynamically developing bank in Uzbekistan, providing a full range of financial services throughout the country.

To achieve this goal, the Bank will emphasise the following objectives:

  • maintain sustainable growth rates of key indicators, while fulfilling all prudential norms, including capital adequacy and liquidity requirements;
  • radical improvement of the asset structure, in particular, increasing the share of income-generating assets and their degree of profitability, in order to further increase profitability ratios;
  • further development of modern banking technologies and their gradual integration into all areas of the Bank's business to improve its operational efficiency and service quality;
  • increasing efficiency indicators by optimising business processes, improving the quality and speed of service while reducing operating costs through the integration of modern technologies and, in particular, new software;
  • expansion of the customer base based on the development of the product line to provide customers with a full range of services, with a focus on the individual characteristics of each of them;
  • to be the first-choice bank for customers, to achieve and maintain leading positions in terms of service quality. For this purpose, in 2024 the Bank will take measures to increase necessary operating expenses, including labour remuneration fund, advertising promotion expenses, as well as improvement of qualification and professional potential of employees.


In 2024, the Bank will continue to improve the automated banking system and the equipment for its functioning. This step will enable the introduction of new interactive services, provide fast and round-the-clock customer service, and increase the quality of data analysis. Once the programme is deployed, the majority of business processes will be automated, which in turn will facilitate the transition to personalised communications formed on the basis of data analytics and modelling tools available to customers through the most convenient interaction channels.

Business productivity will be significantly improved through more efficient cost management, implementation of a functional cost analysis model, and effective allocation of regulatory capital. In 2024, the Bank aims to develop its interest rate business at a more moderate pace, focusing its efforts in retail lending (through significant growth in microloans and microcredit) and small business lending, which in turn will help make the Bank's loan portfolio more diversified.

For the first time, the Bank has developed a Business Plan for the upcoming 2024 year in the context of individual business areas. Strategic initiatives and key drivers:

  • Corporate business;
  • Small business (hereinafter referred to as SME);
  • Retail business;
  • Cards and Payments.

The growth of key indicators and revenues will be achieved through the systematic development of all strategic business areas.

In addition, the Bank has developed its own procedure and methodology for calculating the financial result of each business unit, taking into account transfer rates, therefore, this forecast is made taking into account this methodology.

By the end of 2024, the Bank plans to increase assets to UZS 47.9 trillion (+ 24 per cent for the year), liabilities to UZS 41.6 trillion (+ 20 per cent for the year) and total capital to UZS 6.4 trillion (+ 50 per cent for the year).


The corporate business segment is represented by the most demanding customers who prefer to be serviced by several banks, have large amounts of cash and use a whole range of financial services. Such clients require promptness in payments and lending, as well as complex products that include complex financial instruments. They prefer to work with highly qualified employees of the bank who know the specifics of the industry in which the client operates.

The Bank plans to develop customer service to this segment by offering customised financial solutions. The Bank will expand its product range in the area of short-term lending, trade finance, foreign exchange operations and liquidity management products. The Bank will create mechanisms for prompt interaction between client managers and client representatives.

In building up the customer base, emphasis will be placed on customers with large cash balances and good settling capacity. This will increase the balances of corporate legal entities' accounts (paid and free) to UZS 13.0 trillion by the end of 2024 (including in foreign currency).

Servicing of corporate clients' accounts in national and foreign currency is projected to generate commission income of at least UZS 122 billion, and servicing of accounts in foreign currency and provision of services to support foreign economic activities of UZS 390 billion.

In order to maintain the stability of the resource base, special attention will be paid to attracting term deposits of legal entities. By the end of 2024, it is planned to increase their balance to UZS 7.8 trillion (including in foreign currency). Also, the bank plans to increase letter of credit transactions and guarantees in order to strengthen the deposit base.

Raised funds will be the main source of financing the Bank's active operations, namely lending. The corporate loan portfolio is planned to increase to UZS 5.4 trillion in 2024.


The small business segment is of significant interest to the Bank in 2024, as it provides an acceptable level of profitability, while at the same time allowing the Bank to effectively diversify its customer base. Due to economic reforms and active support of small businesses by the Government, the number of the Bank's potential customers is growing rapidly. The small business customer service policy in 2024 will be to develop the customer service process through remote and digital channels, where they will be provided with a convenient solution to control and manage their business finances. Further development of digital channels will relieve the burden on client managers and open up opportunities to introduce new packages of personalised services, tailored to the industry.

Given the forecast growth of the customer base, emphasis will be placed on attracting turnover-intensive customers. This will increase the number and account balances of small business legal entities (including paid and free accounts) to UZS 4.6 trillion by the end of 2024 (including in foreign currency).

Обслуживание счетов клиентов МСБ в национальной валюте и иностранной валюте, по прогнозам, принесет комиссионный доход в размере не менее 171 млрд.сум, а обслуживание счетов в иностранной валюте и оказание услуг по сопровождению внешнеэкономической деятельности в размере 92 млрд.сум.


The development of retail business, and retail lending in terms of microloans and microcredits, is a priority largely due to the opportunity to diversify the loan portfolio as a whole. In 2024, the balance of the retail loan portfolio is projected to reach UZS 21.8 trillion. The balances of retail customers are forecasted to reach UZS 21.0 trillion (including balances from non-residents).

To develop retail business in 2024, the bank should:

  • Make simple transactions such as regular payments, transfer of funds, making payments for goods and services and saving money convenient, fast and favourable. For this purpose, special attention will be paid to payroll projects, transfers of funds between individual accounts. It is necessary to develop savings products and popularise the use of plastic cards;
  • to develop and develop partnership programmes on plastic cards with international payment systems;/li>
  • build long-term and close relationships with clients. To solve this task, it is important to understand clients' needs and find an individual approach to each client segment. The Bank will develop product packages that are more attractive than stand-alone products. To put together such packages, the bank will enhance its ability to collect, store and analyse customer information. Moreover, retail customers are strategically important to the Bank, as their funds form the bulk of the Bank's resource base and are subject to a low risk of churn.


In 2024, the Bank's net interest income (net of income from inter-branch operations) is planned at the level of UZS 3.3 trillion, the amount of the Bank's net fee and commission income at the level of UZS 1.4 trillion.

Taking into account the aforementioned trends and forecasts, the Bank's net profit for 2024 is forecasted to be at least UZS 2,063 billion. The return on assets (ROA) will be 4.8 %, return on equity (ROE) 39 % and operating efficiency ratio (CIR) 35 %.

in thousands of sum




Assets 44 790 323 572 41 865 902 965 93%
Loan portfolio 27 516 974 323 26 376 700 005 96%
Liabilities 40 458 253 810 37 639 779 386 93%
Customer balances 37 167 107 034 30 102 026 244 81%
Total capital 4 332 069 762 4 226 123 579 98%
Gross income 11 140 544 933 11 864 286 222 106%
Gross expenses 9 413 328 856 10 234 545 687 109%
Net profit 1 727 216 077 1 629 740 535 94%
ROA 4,6% 4,8% 105%
ROE 51,1% 48,6% 95%

in thousands of sum




Assets 19 386 246 280 28 906 947 045 149%
Loan portfolio 11 891 400 298 15 294 700 245 129%
Liabilities 17 299 701 932 26 302 203 458 152%
Customer balances 16 224 082 759 24 224 624 825 149%
Total capital 2 086 544 348 2 604 743 587 125%
Gross income 4 048 104 828 7 060 951 003 174%
Gross expenses 3 486 829 609 5 981 041 692 172%
Net profit 561 275 220 1 079 909 311 192%
ROA 3,3% 4,8% 145%
ROE 32,1% 52,8% 164%

in thousands of sum




Assets 8 946 813 376 15 635 564 292 175%
Loan portfolio 5 883 623 375 7 882 325 516 134%
Liabilities 7 852 018 156 14 146 825 544 180%
Customer balances 7 203 064 288 13 180 410 163 183%
Total capital 1 094 795 220 1 488 738 748 136%
Gross income 1 849 112 690 2 646 545 012 143%
Gross expenses 1 665 750 317 2 290 294 885 137%
Net profit 183 362 373 356 250 127 194%
ROA 2,3% 3,1% 135%
ROE 18,3% 30,2% 165%

in thousands of sum




Assets 6 623 781 754 7 291 395 092 110%
Loan portfolio 4 170 781 039 4 412 091 178 106%
Liabilities 5 850 296 483 6 424 530 208 110%
Customer balances 4 740 631 177 6 051 612 163 128%
Total capital 773 485 271 866 864 884 112%
Gross income 1 354 650 334 1 500 596 078 111%
Gross expenses 1 233 977 625 1 364 979 031 111%
Net profit 120 672 710 135 617 047 112%
ROA 2% 2,1% 105%
ROE 17,2% 17,8% 103%


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