Bank history

In accordance with the Decree of the President of the Republic of Uzbekistan dated March 18, 1994 N UP-794, the joint-stock commercial company «“Trade and Trade Promotion” » in order to satisfy the population’s demand for goods and saturate the domestic market, as well as financial support and further development of the Republic’s trade network. It was founded in the Central Bank of the Republic of Uzbekistan on May 12, 1994 under number 42. The main tasks of the bank are to provide services to trade organizations of the republic, finance trade operations and settlements between trade organizations and enterprises in other sectors of the economy. The founders of the bank were the Ministry of Finance of the Republic of Uzbekistan, the Uzbeksavdo Association, Uzkooptayorlovsavdo, UzbekBusiness and the National Bank for Foreign Economic Affairs. This year, 19 branches were opened in all regional centers and individual regions of the country. The authorized capital was 6 million UZS. 

In accordance with the decision of the shareholders of Savdogarbank and Engilsanoatbank, held on November 18, 1998, Engilsanoatbank was merged into Savdogarbank, and the authorized capital amounted to $1,000,000. The number of branches increased by one and reached 45.

In accordance with Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 12 dated January 13, 2000 «Mevasabzavotbank merger » in order to create an effective financial system, reduce management costs and expand the activities of commercial banks. Savdogarbank joined with an authorized capital of $1,500 million. The amount was delivered. According to this Decree «Savdogarbank» undertakes to: expand opportunities for lending to small and medium-sized businesses and private entrepreneurs involved in the processing of agricultural products, as well as the production of consumer goods; It is recommended to develop and implement a set of measures to attract available funds from the population and entrepreneurs through the introduction of deposits. Due to the merger of Mevasabzavotbank, the number of branches increased by 10 and increased to 55.

Немецкий R & D Express - Ausenhandels acquired 40% of the shares ($2 million) of Savdogarbank and became a bank with foreign capital and an authorized capital of 8 billion UZS. (equivalent to 5 million US dollars).

In accordance with the PF Decree 3764 dated June 22, 2006, the Uzbek-German open joint-stock commercial bank «Savdogar» became a joint-stock commercial bank in connection with the acquisition of a specialized joint-stock commercial bank, Savdogar, by a foreign investor.

US ALL AMERICAS INTERNATIONAL, INC. The number of foreign shareholders of the bank has reached 2, and the bank's authorized capital has reached 22,1 billion UZS. (10 million EUR).

This year the number of foreign shareholders of the bank increased by one. Quito Investment, Singapore invests $3 million US dollars due to the increase in the number of foreign investors in the bank, the name of the bank was changed to joint-stock commercial bank "Savdogar" with foreign capital, and the authorized capital of the bank reached 30 billion UZS.

A new foreign investor has appeared as a shareholder in the bank. Astrata AG (Switzerland) acquired 25% of the bank’s shares and has an authorized capital of 42 billion UZS. The Shaykhontokhur branch of the bank was opened in the Shaykhontohur district of Tashkent.

One of the first to launch commercial operation the ability to replenish plastic cards with cash using the system CASH-IN.The rating agency “Standard and Sensitive Ratings” assigned a primary rating of creditworthiness and reliability according to the national scale at the level (UZ) "A+"

In accordance with the resolution of the shareholders dated June 17, 2022, it was decided to conduct rebranding and change the bank's name to "Garant bank".

In 2023, extensive efforts were made to develop banking services and strengthen partnerships. A personalized card design service was successfully launched at each branch, along with the introduction of 10 fixed deposits available in both the national currency and foreign currencies. Significant work was done in the field of cybersecurity to protect both children and adults.Credit products were launched to support young entrepreneurs and women entrepreneurs, along with a 4% loan specifically for exporters. Keeping up with modern trends, Garant bank introduced a loan for purchasing solar panels, available to both individuals and legal entities.Memorandums of cooperation were signed with Tashkent State University of Law and Tashkent State University of Economics.The grand opening of the renovated head office took place, and over 10 new service centers and branches were opened across the country. To enhance customer convenience, branches in Gazalkent, Bukhara, and Jizzakh were upgraded.

The bank received a B2 rating with a "stable" outlook from Moody's, as well as an A+ rating with a "stable" outlook from Ahbor Reyting. As part of digital development, the website was updated and the development of a new mobile application began.ATMs started operating simultaneously with Uzcard and Humo. The cash withdrawal fee using the bank’s card was reduced to 0.7%. Exchange offices and international money transfers are now available seven days a week.Training sessions for employees were conducted in collaboration with the ALFA training center, focusing on active sales and the new labor code.Efforts were made to promote financial literacy among children, and the KIDS CARD program was successfully launched, featuring personalized designs and the child's name on the card, resulting in the issuance of over 2, 500 cards in December 2023.

In 2024, Garant bank marked its 30th anniversary and increased its authorized capital by UZS 500 billion, significantly strengthening the bank’s financial stability and capacity for further growth.As part of the development of its product and digital ecosystem, the bank enhanced the functionality of its mobile application and launched an official Telegram bot. The range of international money transfer services was expanded through the integration of IntelExpress and Western Union systems.Infrastructure expansion also continued, with the opening of the “Turtkul” Banking Services Center and the completion of integration with the Dibank system.In the area of corporate social responsibility, the bank signed memorandums of cooperation with British Management University and the Association of Volunteers of Uzbekistan, and participated in the nationwide “Yashil Makon” project, under which 2,440 saplings and trees were planted. 

In 2025, Garant bank continued to strengthen its position in the financial market, reaffirming its status as one of the country’s most dynamically developing banks.As part of its product expansion, the bank introduced new microloan and business lending products and launched a large-scale auto lending program. Garant bank became the first bank in the Republic of Uzbekistan to implement the BEST international money transfer system for transfers to Russia, Turkey, and Kyrgyzstan, maintaining its leadership in terms of the number of available international money transfer systems.Regional network expansion continued with the opening of banking service centers in Denau and Rishtan, as well as retail cash service offices in the Khorezm Region and the city of Beruniy (Republic of Karakalpakstan).In 2025, the bank celebrated its 31st anniversary, confirmed its “uzA” credit rating with a stable outlook by Ahbor-Reyting, received Gold in the First Impression category of the CX Banking Index, and was awarded the Uzcard Prize in the “Quality Issuance” category.As part of its technological and social development agenda, Garant bank explored innovative Huawei solutions for digital services and AI infrastructure, and continued to implement financial literacy initiatives and corporate social responsibility programs.