State-Owned Banks Hold 63% of Assets and 67% of Loan Portfolio in Uzbekistan’s Banking System

Tashkent, Uzbekistan (UzDaily.com) — As of early 2026, Uzbekistan’s commercial banking sector continues to grow steadily, with high concentration in large state-owned institutions.

The total banking system assets amounted to 924.8 trillion soums, of which 586.9 trillion soums (63%) are held by state-participation banks. The loan portfolio of state banks reached 404.5 trillion soums, representing 67% of total system-wide loans. Their combined capital stands at 81.4 trillion soums (60%), and deposits at 212.7 trillion soums (51% of total deposits).

Among the largest state banks, NBU leads with assets of 144.7 trillion soums and a loan portfolio of 105.4 trillion soums, followed by Agrobank (103.6 trillion soums in assets, 81.1 trillion in loans), Uzpromstroybank (102.4 trillion soums in assets, 64.9 trillion in loans), and Asaka Bank (61.8 trillion soums in assets, 41.5 trillion in loans). People’s Bank and Bank for Business Development hold assets between 38–52 trillion soums and loans of 24–33 trillion soums.

Non-state commercial banks hold 337.8 trillion soums in assets (37% of the total) and 199.5 trillion soums in loans (33%). Among them, Kapital Bank (assets 57.6 trillion soums, loans 36.3 trillion), Ipoteka Bank (assets 54.7 trillion, loans 35.4 trillion), and Hamkor Bank (assets 35.9 trillion, loans 24.0 trillion) have the largest positions. Other private banks have relatively small shares, highlighting fragmentation in the non-state segment.

In terms of deposits (417.26 trillion soums), state banks dominate, holding over half of household and corporate deposits (212.67 trillion soums). NBU accumulated 50.4 trillion soums, Agrobank 33.6 trillion, and Uzpromstroybank 31.5 trillion. Among private banks, Kapital Bank and Ipoteka Bank maintain substantial deposit volumes at 44.4 and 27.8 trillion soums, respectively.

These figures illustrate the continued dominance of state-owned banks in Uzbekistan’s financial system while highlighting significant opportunities for growth and consolidation in the private banking sector.