BNK Capital opens microfinance organization in Uzbekistan

South Korea’s BNK Capital announced on Friday that it established a microfinance organization in Uzbekistan the previous day.

Since entering Cambodia and Myanmar in 2014, BNK Capital has expanded its overseas network to Laos in 2015, Kazakhstan in 2018, and Kyrgyzstan last year.

By entering Uzbekistan, BNK Capital has a Central Asian triangular network including Kazakhstan and Kyrgyzstan.

The newly established Uzbekistan unit plans to gradually expand its local branches while increasing its market share by focusing on small-scale finance, such as home mortgage and car collateral loans, new car installment financing, and loans for Uzbek workers entering South Korea.

BNK Capital plans to build a profit-centered portfolio by creating synergies with its units in Kazakhstan and Kyrgyzstan. Bin Dae-In, Chairman of BNK Financial Group, personally attended the opening ceremony of the Uzbekistan corporation.

Write to Bo-Hyung Kim at kph21c@hankyung.com