Deposit growth strengthens Uzbekistan banking system stability

Tashkent, Uzbekistan (UzDaily.com) — Aggregate assets of the banking system of the Republic of Uzbekistan reached 962.8 trillion soums as of 1 May 2026.

According to an official report from the Central Bank, this indicator demonstrated a 16% growth compared to the same period last year, when assets were valued at 829.8 trillion soums.

In parallel, the volume of total liabilities of the sector maintained positive dynamics, increasing from 708.1 trillion to 818.8 trillion soums. As a result, the asset-to-liability ratio adjusted from 117% to 118%, confirming the retention of a high level of financial stability among the country's commercial banks.

The main driver of qualitative changes in the structure of liabilities was the outperforming expansion of the deposit base. Over the reported 12 months, the share of deposits in the structure of the aggregate liabilities of the banking system grew by 6 percentage points at once, reaching the 54% mark.

In absolute terms, the volume of deposits increased from 339.2 trillion to 444.4 trillion soums, showing an increase of nearly 31%. This influx of resources allowed financial institutions to stably support the lending sector: the aggregate loan portfolio of banks grew by 11% over the year, moving from the mark of 565.6 trillion soums to 629.0 trillion soums.

The significant outperformance of deposit growth rates over loan issuance rates led to a substantial decrease in an important indicator — the loan-to-deposit (LTD) ratio, which fell from 167% to 142%. The regulator emphasizes that this trend reflects a qualitative transformation of funding: lending to the real sector of the economy and the population is now financed to a much greater extent by stable domestic resources and funds from direct depositors, reducing dependence on external borrowings.

In the breakdown of financial institution categories, the most noticeable improvement in the resource balance was recorded in banks with state participation, where the ratio of issued loans to attracted deposits decreased from 225% to 181%. In private and other commercial banks, this coefficient dropped from 106% to 99%.

The Central Bank summarizes that the outperforming increase in the savings of citizens and legal entities contributes to the formation of long-term sources of financing and systematically increases the overall autonomy and reliability of the entire banking infrastructure of Uzbekistan.