Ipak Yuli Bank Reports Lower Profit in Q1 2026

Tashkent, Uzbekistan (UzDaily.com) — Ipak Yuli Bank ended the first quarter of 2026 with a decline in net profit. The indicator amounted to 234.4 billion soums, which is 16.4% lower compared to the same period last year.

According to financial statements, total income also decreased by 3.3%, while profit over the last 12 months fell by 7.8%.

At the same time, the bank maintained relatively stable operating profitability. Net income before operating expenses increased from 609.4 billion to 663.0 billion soums. However, expenses grew at a faster pace, with operating costs rising from 286.4 billion to 361.0 billion soums.

The main drivers of cost growth were personnel expenses, which increased from 163.3 billion to 190.5 billion soums, as well as representative and charitable expenses, which rose from 5.7 billion to 22.5 billion soums.

The bank’s loan portfolio reached 16.9 trillion soums as of 1 April 2026, reflecting a 14.5% year-on-year increase. The share of non-performing loans declined from 1.5% to 1.4%.

Total assets amounted to 29.0 trillion soums, up 25.2%, while capital increased to 4.7 trillion soums, marking growth of 20.5%. Loan loss provisions rose to 120.1 billion soums.