UzNIF Net Profit Rises to 2.1 Trillion Soums in H1 2026
National Investment Fund of Uzbekistan (UzNIF) reported a net profit of 2.1 trillion soums under IFRS for H1 2026, driven by stock revaluations.
UzNIF's Net Profit Soars to 2.1 Trillion Soums in First Half of 2026
Tashkent, Uzbekistan (UzDaily.uz) – The National Investment Fund of Uzbekistan (UzNIF) reported a net profit of almost 2.1 trillion soums, calculated according to International Financial Reporting Standards (IFRS), for the initial six months of 2026. This marks a substantial increase from the 52.6 billion soums recorded in the same period the previous year.
The significant boost in financial performance was primarily attributed to net unrealized gains stemming from equity investments valued at fair value through profit or loss. These gains amounted to 2.2 trillion soums during the reporting period, reflecting fluctuations in the market value of the securities within the fund's holdings.
Furthermore, gross dividend income saw a rise from 55.4 billion soums to 341 billion soums, and operating profit expanded from 55.4 billion soums to 2.5 trillion soums.
By the close of the first half of the year, the fund's total assets reached 32.5 trillion soums, representing a 7.2 percent increase since the start of the year. Equity grew by 6.1 percent to 31.7 trillion soums, and retained earnings experienced a 146.6 percent surge, reaching 3.5 trillion soums.
The published financial statements indicate that the improved performance metrics were largely due to an appreciation in the valuation of Uzbektelecom shares, a key asset for the fund, which saw a 150 percent increase in the second quarter. Concurrently, the fund's Net Asset Value (NAV) climbed by 9.2 percent over the reporting period.