MK Leasing Uzbekistan
Impact Report 2025
Reporting period: 1 Jan – 31 Dec 2025
MK Leasing Uzbekistan at a glance
2
€51 m
Gross leasing portfolio
3,834
Active clients
8
Branches
Employees
4,596
Leasing contracts
46
Regions covered
12
Who we are
3
• Founded in 2018
• Member of MK Global Kapital Group
• One of Uzbekistan’s leading private leasing companies
• Focuses on financing SMEs and entrepreneurs
• Agricultural machinery leasing
• Commercial vehicles and transport
• Construction equipment financing
• Industrial and production assets
• Flexible financing solutions for business growth
• #1 commercial leasing company in Uzbekistan by new leasing volume in 2025
• USD 59,2 million in new leasing transactions
• Strong presence across key economic sectors
• Strengthened market leadership
• Enhanced access to capital markets
• Continued product diversification
• Well-positioned for sustainable long-term growth
• Assigned an uzA+ (Stable Outlook) credit rating
• Successfully issued UZS 50 billion in corporate bonds
• Expanded leasing products and SME financing programs
Company overview
Core business
Market
Key events in 2025
Growth and outlook
Partners
• SN INVEST
• BYD
• PLANETA SERVIS
• AGRO SERVIS PLYS GROUP
• KCHM GROUP
• UZCASEMASH and others
OUR PHILOSOPHY
Behind every number are people and families who need support. These seven actions, shared across the ALTERNATIVE portfolio, guide how we work.
1
Put people first in every decision
2
Make leasing accessible to everyone
3
Keep the human touch �in our digital services
4
Teach clients financial skills
5
Make profit work with fairness
6
Support the communities we serve
7
Let solidarity guide our choices
4
People-centered finance:
our seven principles
The market we serve
5
Market and client need
A fast-growing economy with a large financing gap
Uzbekistan’s GDP grew 7.7% in 2025, yet only 44% of adults hold a formal bank account — below the 58% regional average. State-owned banks dominate lending; non-bank finance covers just 0.5% of the market.
The underserved: rural farmers, micro-entrepreneurs, first-time borrowers, and women. Over a third of Uzbekistan’s 417,000 SMEs have no bank account. The IFC estimates the SME credit gap
at $6–7 billion, with only 10% of small enterprises reporting access to credit.
Leasing fills this gap: no credit history required, asset-backed collateral, and lease sizes small enough to serve clients banks will not reach
Leasing portfolio breakdown (new contracts during 2025)
Total number of leasors, 2025
Market Players
Client diversification
6
Breakdown by client’s industry
Breakdown by underlying assets
Client diversification
7
Breakdown by region
Breakdown by contracts and contractors
Our client impact in 2025
8
72%
Income increased
70%
Quality of life improved
50%
Home spending increased
81%
Financial management improved
+1.3
Net new jobs per client
62%
First-time leasing clients
56%
Meals quality improved
63
NPS (−100 to +100)
Based on an internal client survey conducted in late 2025, 113 respondents.
Financial inclusion
9
We provide leasing to groups traditional lessors overlook — women, rural households, and first‑time lessees — with lease sizes small enough to keep us focused on the genuinely underserved.
80%
MSME clients
€18,000
Average leasing
contract size
32%
Clients served via digital channels
Female clients
4 hours
Application-to-decision / delivery time
10%
Agriculture clients
66%
People highlights in 2025
10
Hiring and development
Employee benefits
Diversity and well-being
Our community contribution
11
Charitable support
We support organisations assisting people with disabilities
MSMEs support
MK Leasing expands access to leasing and supports clients throughout the process.
Financial literacy
The company promotes financial literacy by helping clients better understand leasing opportunities and make informed financial decisions through individual free consultations
Environmental impact
12
Green initiatives
MK Leasing supports sustainable development through green financing initiatives. It partners with BYD dealers to finance electric vehicles, finances modern CASE tractors with better fuel efficiency and lower emissions and supports investments in solar panels
and other energy-efficiency projects.
�10.3%
Green share of portfolio
�288
Green deals financed�(EV / CNG / efficient equipment)
Category | Contracts | Portfolio (USD) |
Western tractors Tier 4 (Case / NH / Claas) | 80 | $3.4M |
CNG / gas trucks | 43 | $1.2M |
EV / hybrid vehicles (BYD + other) | 88 | $1.1M |
Laser land levellers | 77 | $330K |
Total ESG-compatible | 288 | $5.9M |
Governance and user protection
13
ESG policy
Developed and under final review. Approval is pending completion and alignment with related ESG documents
Code of Conduct
Yes
Complaints mechanism
Developed and under final review. Approval is pending completion and alignment with related ESG documents.
Exclusion list
Standard for all financing decisions
Data privacy and cybersecurity policy
Yes
Whistleblowing channel
Under development
What we do not finance:
14
Illegal activities
Weapons and arms
Alcohol and tobacco*
Gambling
Radioactive materials**
Asbestos
Drift-net fishing
Biodiversity-harmful activities
Hazardous shipments
Unauthorised trade
*excluding beer and wine
**except medical equipment, quality control, or equipment where IFC considers radioactive sources to be minor and adequately shielded
Selected SDGs
15
Client story: Islamic leasing (Ijara)
16
Format: Client success video-story
Asset: truck car
Lease term: 3 Years
In the heart of Central Asia, where the roads stretch across mountains and cities, Shavkat has spent the last three years helping keep the region moving. As the head of logistics for a cargo transportation company, his days are fuelled by planning, precision, and purpose. This year, the company marked its fifth anniversary, a milestone of growth built on resilience, teamwork, and a vision for more.
With demand for cargo services increasing, the founders made a bold decision: to expand operations within Tashkent and nearby regions. “Six months ago, we decided to launch a domestic transportation division,” Shavkat shares. But there was a challenge: no additional trucks were available, and expansion without the right vehicles was impossible.
Client story: Agriculture in remote villages
17
Format: Client success video-story
Asset: Agricultural tractor
Lease term: 3 Years
Meet Murad, a 24-year-old third-generation farmer from Uzbekistan. After realising that office job was not for him, he returned to his roots and embraced the land he inherited. With an ambition of growing his farming business, Murad needed new equipment—but did not have the full capital. With his family’s support and the flexible leasing options from leasing, he was able to purchase his own tractor. Now, Murad is building a future shaped by passion, tradition, and smart financial support.
His journey proves that with the right tools, new beginnings are possible.
Impact story: Financing young entrepreneurs
18
Format: client success video-story
Asset: Passenger car
Lease Term: 3 Years
Timur had a clear plan: build a travel agency that would show visitors the real Uzbekistan, beyond the usual tourist trail. The missing piece? A reliable vehicle to transport clients personally.
With MK Leasing flexible financing, he got exactly what he needed — no delays, no unnecessary risk.
Today he picks guests up at the airport, runs out-of-town trips, and delivers a level of service that sets his agency apart.
The right financial partner does not just provide funds. It helps you execute.
2025 highlights and 2026 priorities
19
2025 highlights
2026 priorities
Responsible finance in service of people, communities and a more sustainable world.
MK Global Kapital S.à r.l. · 10, rue C. M. Spoo, L-2546 Luxembourg
impact@mkglobalkapital.com mkglobalkapital.com