Tashkent, Uzbekistan (UzDaily.uz) — In September 2026, Uzbekistan’s Central Bank clearing system processed 19.97 million payments worth 13.98 trillion soums. Several banks drove the growth, while the average payment fell to 700,000 soums.
In September 2026, 19.97 million payments worth 13.98 trillion soums were processed through the Central Bank of Uzbekistan’s clearing system. Compared with September 2025, the number of payments increased by 7.7 million, or 63.3%, while their value rose by 2.75 trillion soums, or 24.4%, the Central Bank reported.
The number of payments grew 2.6 times faster than their value. As a result, the average payment declined from 918,000 soums to 700,000 soums, or by almost one-quarter. The Central Bank’s breakdown of data for 36 banks shows which banks drove the growth and how the market structure is changing.
Key indicators
| Indicator | September 2025 | September 2026 | Change |
|---|---|---|---|
| Number of payments | 12.23 million | 19.97 million | +63.3% |
| Payment value | 11.24 trillion soums | 13.98 trillion soums | +24.4% |
| Average payment | 918,000 soums | 700,000 soums | −23.8% |
Four banks accounted for 88% of the increase
The increase in the number of payments was concentrated among several banks. Of the 7.74 million additional payments, 2.96 million (38.2%) came from Aloqabank, 1.57 million (20.3%) from TBC Bank, 1.47 million (19%) from Hamkorbank and 0.85 million (11%) from Uzum Bank. Together, these four banks accounted for 88.5% of the increase. The People’s Bank contributed another 5.8%, with the number of its payments almost doubling.
Hamkorbank recorded the highest growth rate. The number of payments it processed increased from 66,800 to 1.54 million, or 23-fold. As a result, the bank rose to third place by number of payments, with a 7.7% share, compared with 0.5% a year earlier. Uzum Bank increased the number of payments almost fivefold to 1.06 million, while TBC Bank increased them 2.6-fold to 2.57 million.
Smaller banks also posted sharp increases, although from a low base. Anor bank increased the number of payments from 9,800 to 100,300, Ipak Yuli Bank from 37,700 to 117,900, and Asia Alliance bank from 15,100 to 48,000. AVO bank, which processed just 26 payments in September 2025, processed nearly 15,000 in September 2026.
Overall, the number of payments increased at 28 of the 36 banks and declined at eight. In absolute terms, the largest declines were recorded by Trustbank, down 80,400 to 248,300 payments; Asaka Bank, down 30,200 to 84,800; National Bank, down 24,800 to 876,200; and Davr Bank, down 23,000 to 574,500. YANGI BANK did not process any payments through the system in September 2026.
Aloqabank remains the leader, but its share is declining
Aloqabank remains the largest participant in the system by both indicators. In September, it processed 10.1 million payments, up 41.4%, worth 3.31 trillion soums, up 23.1%.
As other banks grew faster, Aloqabank’s share of the total number of payments declined from 58.4% to 50.6%. Its share of the total payment value changed little, standing at 23.7% compared with 23.9% a year earlier.
Excluding Aloqabank, the number of payments processed through the system increased by 93.9%, while their value rose by 24.9%.
Market concentration declined
The payment market remains concentrated, but less so than a year earlier. The three largest banks accounted for 71.1% of all payments, compared with 73.9% a year earlier, while the five largest accounted for 81%, compared with 82.6%.
Concentration declined more noticeably by payment value. The share of the five largest banks fell from 63.5% to 56.6%, while that of the three largest banks declined from 48.9% to 43.4%.
The Herfindahl–Hirschman Index, calculated based on Central Bank data, fell from 3,597 to 2,872 points by number of payments and from 1,095 to 983 points by payment value.
Shifts in the ranking by payment value
The picture by payment value differs from the ranking by number of payments. After Aloqabank, Kapitalbank ranked second with 1.67 trillion soums, up 47.1%, accounting for 12% of the total compared with 10.1% a year earlier. At the same time, it processed just 71,800 payments, or 0.4% of the total.
Asaka Bank dropped from second to third place. The value of its payments declined by 34.8%, from 1.66 trillion to 1.08 trillion soums, while its share fell from 14.8% to 7.8%.
The top five by payment value also included Hamkorbank, with 939.9 billion soums, a threefold increase, and National Bank, with 904.3 billion soums, up 31%. TBC Bank processed payments worth 752.5 billion soums, up 69.6%.
Among major participants, Invest Finance bank recorded the fastest growth in payment value, rising 5.1-fold from 127.5 billion to 648.5 billion soums. Its share increased from 1.1% to 4.6%.
Payment value declined at six banks. The largest decreases were recorded by Asaka Bank, down 579.4 billion soums; Business Development Bank, down 384.6 billion soums, or 40.2%, to 572.7 billion; and Tenge bank, down 190.2 billion soums, from 278.3 billion to 88.1 billion soums.
| Bank | Value, September 2025 | Value, September 2026 | Change | 2026 share |
|---|---|---|---|---|
| Aloqabank | 2.69 trillion | 3.31 trillion | +23.1% | 23.7% |
| Kapitalbank | 1.14 trillion | 1.67 trillion | +47.1% | 12.0% |
| Asaka Bank | 1.66 trillion | 1.08 trillion | −34.8% | 7.8% |
| Hamkorbank | 314.6 billion | 939.9 billion | +198.8% | 6.7% |
| National Bank | 690.1 billion | 904.3 billion | +31.0% | 6.5% |
| TBC Bank | 443.6 billion | 752.5 billion | +69.6% | 5.4% |
| Invest Finance bank | 127.5 billion | 648.5 billion | +408.5% | 4.6% |
| Business Development Bank | 957.3 billion | 572.7 billion | −40.2% | 4.1% |
Two types of banks: high-volume small payments and large-value transactions
The data show that banks differ in the nature of the payments they process.
Some process a large number of small payments. In September 2026, the average payment at Uzum Bank was 169,000 soums, at Anor bank 275,000 soums, at TBC Bank 293,000 soums, at OPEN BANK 299,000 soums, and at Aloqabank 328,000 soums. At Hamkorbank, the average payment declined from 4.7 million soums to 610,000 soums, coinciding with a multiple increase in the number of payments it processed.
Other banks process fewer payments, but for larger amounts. The average payment at Kapitalbank was 23.3 million soums, at Invest Finance bank 21 million soums, at Asaka Bank 12.8 million soums, and at Turonbank 6.8 million soums.
This explains the gap between the two rankings. Kapitalbank, which accounts for 0.4% of payments, generates 12% of their total value. TBC Bank, with a 12.9% share by number, accounts for 5.4% of the value, while Uzum Bank, with a 5.3% share by number, accounts for 1.3% of the value.
The decline in the system-wide average payment from 918,000 to 700,000 soums was driven primarily by the rapid growth of banks specializing in small payments. Excluding Aloqabank, the average payment also declined, from 1.68 million to 1.08 million soums.
The calculations of shares, growth rates, concentration and average payments by bank were made by the editorial team based on data from the Central Bank.
