ALMATY: JSC Halyk Bank, Kazakhstan’s largest financial group, said Wednesday it will acquire a 49% stake in Uzbekistan-based payment services provider Click JSC for $176.4 million, while selling an identical stake in its wholly owned Tenge Bank JSCB to Click’s shareholders for $60.76 million.
The dual transaction, subject to regulatory approval in both countries, paves the way for a strategic alliance aimed at expanding the companies’ footprint in Uzbekistan’s rapidly evolving fintech and financial services sectors.
The deal retains both firms’ current legal structures while enabling deeper collaboration between Halyk’s diversified digital financial services and Click’s fast-growing SuperApp ecosystem.
Halyk Bank, with over $37.5 billion in assets and a market capitalization of $6.8 billion, offers a range of services across banking, insurance, leasing and asset management. It holds investment-grade credit ratings from Moody’s, S&P, and Fitch.
Click, a leading Uzbek fintech, boasts more than 20 million users and 10 million proprietary digital wallets. The company recorded a 35.3% jump in revenue and a 37.5% rise in net profit in 2024, fueled by MiniApps supporting payments, insurance, shopping, and government services.
Halyk said total investments in Uzbekistan reached $1.5 billion as of July 1, 2025. The partnership is expected to give Halyk and Click access to a combined client base exceeding 32 million people across Central Asia, strengthening ties between regional markets and global capital flows.
Click and Tenge Bank will continue operating as independent legal entities, with existing customer contracts and service terms unaffected.