Bank's History

The history of the bank is a story of its continuous development and achievements throughout decades of existence. JSCB "Uzbek Industrial and Construction Bank" has established itself as one of the oldest banks in the Republic of Uzbekistan. From its inception to the present day, the bank has undergone a series of transformations, renamings, and improvements, always remaining a reliable partner for its clients and an active participant in the financial and economic life of the country.

1922–1925

• JSCB “Uzbek Industrial and Construction Bank” was founded on October 28, 1922, as the Central Asian branch of the Trade and Industrial Bank in Tashkent.
• In October 1924, the bank became a republican institution and began operating as a government agent for financing and lending to sectors of the national economy.

1926–1932

• 1926 – financed early infrastructure (the Bozsu Hydroelectric Power Station).
• 1932 (May) – reorganized into a Prombank, specialized bank for financing capital construction and industry .

1940–1960

• During the war years and up to the 1960s, the bank supported wartime industrial facilities.
• 1959 – Prombank was renamed to Stroybank and continued to support the country’s construction projects.

1960–1980

• 1966 – played a key role in providing financial support and loans for the restoration of destroyed buildings and infrastructure in Tashkent after the earthquake.

1981–2000

• In 1987 – became the Industrial and Construction Bank (Promstroybank) and continued to expand its range of services.
• 1988 –actively implemented economic reforms and participated in government programs to support families and stabilize the economy.

2001–2010

• Early 2000s –expanded financing of strategic projects mainly in oil, gas and energy sectors.
• 2006 – merged with International Bank of Uzbekistan “Uzprivatbank”.
• 2009 – the bank received its new name: JSCB “Industrial and Construction Bank of Uzbekistan”.

2011–2020

• 2011-2016 – continued project finance to basic sectors of the economy while strengthening risk, liquidity and capital management in line with Basel-aligned reforms underway in Uzbekistan.
• At the same time S&P and Fitch repeatedly affirmed SQB within the B category, reflecting ongoing state support and stable fundamentals.
• 2018-2019 – underwent rebranding, improved its business processes, launched a bank-wide transformation in cooperation with IFC, started Green Banking with adoption of ESG policy and first green products.
• 2019 – issued the country’s first-ever corporate Eurobonds worth USD 300 million, listed in London Stock Exchange.
• 2020 – created digital ecosystem through launching JOYDA combining banking services and a marketplace with a wide selection of products.

2021 – Present

• 2021 – IFC provided a USD 75 million convertible loan to support green and SME lending, The EBRD’s TFP named SQB the “Most Active Issuing Bank in Uzbekistan (2020)” and awarded it the “Green Deal of 2020”.
• 2022 – EBRD provided a USD 50 million convertible loan to strengthen governance and green lending.
• 2023 – issued USD 100 million Eurobond via private placements for climate-related projects.
• 2024 – issued Dual-currency Sustainability Bond on London Stock Exchange: USD 400 million and UZS 2,25 trln., becoming the first-ever commercial bank in Uzbekistan to issue Reg S/144A notes.
• 2024 – EBRD recognized SQB with “Green Trade Deal of the Year” (Yerevan).
• 2025 – Fitch Ratings upgraded SQB to “BB” and S&P affirmed “BB-/B”.
• October, 2025 – issued the first-ever in Uzbekistan international perpetual notes (AT1 bonds) with USD 300 million size.

Our Goals

MISSION

Your success is our priority

We stand by you as you plan, grow your business, or secure your family’s future. Our mission is to be a reliable partner in every step, helping you grow and achieve your goals. We provide not just banking services, but solutions that work in real life. By supporting our clients, we contribute to the sustainable development of Uzbekistan’s economy.

VISION

Building a bank trusted today and tomorrowWe are creating a new-generation financial institution — technological, secure, and people-focused. Our priorities are innovation, reliability, and contribution to the country’s development. We grow together with our clients and employees, shaping a future worth living in.

LONG-TERM
POSITIONING

LONG-TERM POSITIONING

Your path to success — with us SQB is the choice for those who strive for more. We treat with equal care those who are just beginning their financial journey and those who manage large businesses. Clients trust us because we are not just a bank, but a team of professionals dedicated to delivering results.

MISSION

Your success is our priority

We stand by you as you plan, grow your business, or secure your family’s future. Our mission is to be a reliable partner in every step, helping you grow and achieve your goals. We provide not just banking services, but solutions that work in real life. By supporting our clients, we contribute to the sustainable development of Uzbekistan’s economy.

VISION

Building a bank trusted today and tomorrow We are creating a new-generation financial institution — technological, secure, and people-focused. Our priorities are innovation, reliability, and contribution to the country’s development. We grow together with our clients and employees, shaping a future worth living in.

LONG-TERM
POSITIONING

LONG-TERM POSITIONING

Your path to success — with us SQB is the choice for those who strive for more. We treat with equal care those who are just beginning their financial journey and those who manage large businesses. Clients trust us because we are not just a bank, but a team of professionals dedicated to delivering results.

Our Values

Stability
Reliability is at the core of everything we do. We strive for financial resilience not only for the bank itself, but also for every client and employee.

Service Quality
We listen to our clients. For us, it is essential that banking services are simple, transparent, and truly valuable.

Partnership
We work as equals. We value long-term relationships where everyone benefits — clients, the bank, and the team.