CERR Updates Uzbekistan Bank Rankings for Q2 2026

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan's Center for Economic Research and Reforms (CERR) has released its updated ranking of the country's commercial banks for the second quarter of 2026, based on its Bank Activity Index.

The assessment covers 34 commercial banks, divided into two groups: 20 large banks and 14 small banks.

The index is based on 27 sub-indicators grouped into eight categories, including financial intermediation and accessibility, capital adequacy, asset quality, management efficiency, profitability and liquidity. The evaluation uses both banking sector averages and international benchmarks, including Basel Committee on Banking Supervision standards.

According to CERR, Uzbekistan's banking sector maintained solid momentum during the second quarter.

As of 1 June, total banking sector assets reached 984.4 trillion soums, up 19% year-on-year, while liabilities increased 18.4% to 838.8 trillion soums. Nine state-owned banks continued to dominate the sector, accounting for 62.7% of total assets and 66.1% of the country's loan portfolio.

Deposit growth continued to outpace lending. Outstanding loans increased by 12% over the year, while deposits expanded by 33%.

Private banks continued to demonstrate stronger deposit coverage of their loan portfolios. For every 100 soums of loans issued, private lenders held 103 soums in deposits, compared with 57 soums at state-owned banks.

The sector's financial performance also improved significantly. Net profit rose 66.7% year-on-year to 8.5 trillion soums.

Return on assets (ROA) increased from 1.9% to 2.4%, while return on equity (ROE) improved from 10.3% to 14.5%. The share of highly liquid assets rose to 21.6%.

Asset quality continued to strengthen. The ratio of non-performing loans (NPLs) declined from 4.1% to 3.7%, although several state-owned and private banks continued to report elevated levels of problem loans.

The sector also saw further progress in reducing dollarisation. The share of foreign currency loans fell from 41% to 39%, while foreign currency deposits declined from 24% to 19%. Capital adequacy ratios remained around 1.5 times above the regulatory minimum requirements.

Among the large banks, Kapitalbank retained first place, followed by Hamkorbank in second and Asia Alliance Bank in third.

Ipoteka Bank posted the strongest improvement among major lenders, climbing four places to seventh, supported by stronger asset quality, capital adequacy and management efficiency.

Davrbank and Infinbank each advanced three positions. Davrbank rose to fifth place on the back of improvements in financial accessibility, asset quality, capital adequacy and profitability, while Infinbank moved to sixth thanks to stronger financial accessibility, asset quality and capital strength.

The biggest decline among large banks was recorded by Ipak Yuli Bank, which fell four places to eighth because of weaker financial intermediation and liquidity indicators. Anor Bank, Xalq Bank and Tenge Bank each dropped three positions.

Among small banks, the top three remained unchanged. TBC Bank retained first place, followed by Universal Bank and AVO Bank.

Octobank recorded the strongest improvement in the group, rising three places to sixth after strengthening its profitability, management efficiency and financial accessibility indicators.

Hayot Bank, UzKDB Bank, Saderat Bank, Madad Invest Bank, Open Bank and Uzum Bank each climbed one position, reflecting improvements in areas including financial accessibility, asset quality, liquidity and capital adequacy.

The sharpest decline among small banks was registered by Garant Bank, which dropped four places to 14th. Poytaxt Bank fell three positions, while Apex Bank and Ziraat Bank each slipped one place.

CERR said that despite improvements in financial accessibility and capital adequacy, further strengthening of banks' competitive positions will depend on continued progress in asset quality, management efficiency, profitability, risk management and operational resilience.