SQB almost doubled its net profit for the first quarter

Tashkent, Uzbekistan (UzDaily.com) -- The net profit of Uzpromstroybank (SQB) in the first quarter of 2024 amounted to 339.7 billion soums, which is 99.2% more than the same period in 2023.

Retained earnings of SQB amounted to 2.7 trillion soums at the end of the first quarter of 2024, which is 59.4% more than the same period last year.

According to the bank, the bank’s interest and non-interest income increased by 65.8% - to 2.6 trillion soums and 33.8% - to 1.6 trillion soums, respectively.

At the same time, the bank’s operating expenses increased by 18.3%, to 350.8 billion soums.

The loan portfolio amounted to 57.4 trillion soums as of 1 March 2024, which is 11.0% more than in the same period in 2023.

The share of problem loans (NPL) in annual terms increased from 3.3% to 4.3% and amounted to 2.49 trillion soums as of 1 March 2024.