CERR Updates Bank Rankings for Q2 2026
In Q2 2026, Uzbekistan’s banking sector maintained steady growth. The deposit base and profitability increased, while non-performing loans and dollarization declined. The sector also maintained a high level of capitalization despite a slight slowdown in asset growth.
The Center for Economic Research and Reforms (CERR) has released its updated Bank Ranking for the second quarter of 2026, derived from the Bank Activity Index.
This comprehensive analysis encompassed 34 commercial banks operating within Uzbekistan. For comparative purposes, 20 of these institutions were categorized as large banks, with the remaining 14 designated as small banks.
The Index's calculation relies on 27 distinct sub-indicators, which are organized into eight key areas. These include financial intermediation, financial accessibility, capital adequacy, asset quality, management efficiency, profitability, and liquidity.
These indicators are benchmarked against both the average performance of the banking system and relevant international standards, notably those set by the Basel Committee on Banking Supervision. This methodology aligns with global best practices and is employed by leading financial institutions worldwide.
As of June 1, 2026, the total assets across the banking system reached 984.4 trillion sums, marking a 19% increase year-over-year. Liabilities also grew, rising by 18.4% to 838.8 trillion sums. The market structure remained largely consistent, with nine state-owned banks holding 62.7% of total assets and 66.1% of the overall loan portfolio.
Deposits continued to outpace lending growth significantly. Over the past year, outstanding loans expanded by 12%, while deposits surged by 33%, thereby bolstering the banking system's strength and maintaining high liquidity levels.
Private banks consistently demonstrated a higher proportion of deposits covering their loan portfolios. State-owned banks held 57 sums in deposits for every 100 sums in loans, in contrast to private banks, which held 103 sums. This disparity suggests that state-owned banks continue to rely more heavily on alternative funding sources.
The financial health of the banking sector saw substantial improvement. Net profit climbed by 66.7% to 8.5