Halyk Bank, Kazakhstan’s largest bank by assets, has not completed its planned acquisition of a 49% stake in Uzbek payment service Click within the expected timeframe, according to materials prepared for the bank’s upcoming annual general meeting of shareholders scheduled for April 23.
Deal terms and timeline
The bank announced the transaction in summer 2025 as part of its expansion into Uzbekistan’s financial sector. The agreement included plans for Halyk Bank to acquire a 49% stake in Click for $176.4 million, while also selling a 49% stake in its Uzbek subsidiary, Tenge Bank, to Click’s shareholders.
However, the deal was not finalized before the end of 2025, and the signed transaction documents have since expired. The bank has not disclosed the reasons for the delay.
Ongoing discussions and market position
Despite the lapse, the parties continue to explore potential terms for future cooperation.
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Click is one of Uzbekistan’s largest fintech platforms, with a reported user base exceeding 20 million and a mobile payments market share of more than 38%. The app offers a wide range of services, including payments and transfers via bank cards and its own e-wallet, as well as a marketplace, insurance products, loan repayment options and access to government services.
