Uzbekistan Banking Assets Exceed 1 Quadrillion Soums
Total assets of Uzbek commercial banks reached 1,005.8 trillion soums as of 1 July 2026, marking an 18% annual increase.
Uzbekistan's banking sector has surpassed the 1 quadrillion soum mark in total assets, reaching 1,005.8 trillion soums as of July 1, 2026. This represents an 18% increase from 852.2 trillion soums recorded on the same date in 2025, according to recent performance data.
The banking system's loan portfolio expanded by 12% to 642.8 trillion soums, while deposits saw a significant 33% rise to 473.8 trillion soums. Total equity also grew by 19%, reaching 148.9 trillion soums.
A notable trend is the decreasing reliance on foreign currency. The share of foreign currency in total assets dropped from 40% to 35%, in loans from 42% to 39%, and in deposits from 24% to 19%. This indicates a more robust expansion of operations denominated in the national currency.
**State-Owned Banks Maintain Dominance**
State-owned banks continue to hold a commanding position within the financial system. They account for 62% of total assets, 66% of loans, 58% of capital, and 52% of deposits.
The National Bank of Uzbekistan (NBU) remains the largest bank in the country, with assets totaling 146.5 trillion soums, representing 15% of the market share. Agrobank follows with 118.4 trillion soums (12%), and Uzpromstroybank holds the third position with 108.5 trillion soums (11%).
Other significant state-owned banks by asset size include Asaka Bank (62.5 trillion soums), Xalq Bank (57.8 trillion soums), Business Development Bank (41.2 trillion soums), Aloqabank (36.7 trillion soums), Microcreditbank (34.4 trillion soums), and Turon Bank (22 trillion soums).
Among banks without state ownership, Kapitalbank leads with 62.7 trillion soums in assets, followed by Ipoteka-bank with 56.7 trillion soums.
Kapitalbank also stands out in deposit volume, ranking third nationally with 47.3 trillion soums, trailing only NBU and Agrobank. Octobank, despite its relatively modest assets of 16.5 trillion soums, holds 14.8 trillion soums in deposits, suggesting a business model heavily focused on deposit generation.
**Sectoral Loan Distribution**
Retail borrowers continue to be the largest segment for bank lending. Loans to individuals increased by 20%, from 196.9 trillion to 235.9 trillion soums, raising their share of the overall loan portfolio from 34% to 37%.
Conversely, industrial lending experienced a 13% decline, falling from 157.6 trillion to 137.6 trillion soums, with its share decreasing from 27% to 21%. Industry was the only major sector to see an absolute reduction in lending, alongside housing and public utilities, which dropped 8% to 1.9 trillion soums.
Lending to trade and public services grew by 23% to 49.3 trillion soums, construction loans rose by 37% to 20.9 trillion soums, and agriculture saw a 14% increase to 66.3 trillion soums. The "other sectors" category recorded a 36% surge, reaching 92.4 trillion soums. Loans for transport and communications remained largely stable, increasing by 1% to 33.9 trillion soums.
**Loan and Deposit Breakdown by Bank**
As of July 1, 2026, the total loan portfolio of 642.8 trillion soums comprised 235.9 trillion soums (37%) in retail loans and 406.9 trillion soums (63%) in corporate loans.
Ipoteka-bank emerged as the top retail lender, providing 29.5 trillion soums in loans to individuals, with Xalq Bank following closely at 25.5 trillion soums.
NBU maintained its position as the largest corporate lender, with 83.6 trillion soums in loans extended to legal entities.
In terms of deposits, Kapitalbank leads in retail deposits with 28.1 trillion soums, surpassing all other banks, including the largest state-owned institutions. NBU holds the largest volume of corporate deposits, totaling 39.4 trillion soums.