Uzbekistan’s non-bank credit organizations see assets rise 64% to $2.24bn

Non-bank credit organizations in Uzbekistan have experienced a substantial 64% surge in their total assets, reaching UZS 26.5 trillion ($2.24 billion) as of July 1. This represents an increase of UZS 10.4 trillion ($878.8 million) compared to the same period last year, according to data from the Central Bank.

As of the aforementioned date, Uzbekistan was home to 237 non-bank credit organizations. This figure comprises 136 microfinance organizations, 90 pawnshops, nine factoring organizations, one mortgage refinancing organization, and one guarantee organization.

Microfinance organizations held the largest portion of these assets, totaling UZS 17.2 trillion ($1.45 billion). This marks an 83% annual increase, or UZS 7.8 trillion ($659.1 million). The mortgage refinancing organization's assets grew by UZS 2 trillion ($169 million), or 33% year-on-year, to UZS 8.1 trillion ($684.4 million).

Pawnshops saw their assets rise by UZS 307 billion ($25.9 million), or 51%, to UZS 913 billion ($77.1 million). Guarantee organizations held UZS 163 billion ($13.8 million) in assets, while factoring organizations accounted for UZS 116 billion ($9.8 million). The Central Bank maintains distinct statistical reporting for non-bank credit organizations as part of its broader financial sector statistics.

In related news, the Central Bank of Uzbekistan has also noted an increase in multiple borrowing among bank customers, with nearly 30% of borrowers holding more than one loan. This trend underscores a growing demand for credit throughout the financial sector.

Previously, the Central Bank separately reported that state-owned banks are responsible for over 70% of Uzbekistan's problem loans, which amounted to UZS 22.94 trillion ($1.92 billion) as of July 1, 2026.