Uzbek Banks See NPLs Rise by 1.3 Trln. Soums in January

Tashkent, Uzbekistan (UzDaily.com) — In January 2026, Uzbekistan’s total bank credit portfolio reached 610.3 trillion soums, with problem loans (NPLs) rising by 1.3 trillion soums, the Central Bank reports.

The overall banking sector credit portfolio increased by 6.4 trillion soums during the month. Problem loans grew by 1.306 trillion soums to 19.36 trillion soums, representing 3.2% of the total portfolio.

Among state-owned banks, the largest portfolio growth was recorded by UzNatsBank (+1.436 trillion soums), Agrobank (+1.109 trillion soums), and Alokabank (+872 billion soums), while AsakaBank’s portfolio decreased by 266 billion soums. Overall, state banks’ portfolios rose by 4.39 trillion soums.

Private and other banks also saw increases, including Hamkorbank (+777 billion soums), Kapitalbank (+557 billion soums), Anorbank (+387 billion soums), Hayot Bank (+296 billion soums), and Asia Alliance Bank (+220 billion soums). In contrast, TBC Bank (-709 billion soums), Ipoteka-Bank (-119 billion soums), and KDB Bank Uzbekistan (-111 billion soums) experienced declines. The remaining banks contributed 1.99 trillion soums to overall portfolio growth.

The rise in problem loans was mainly driven by state banks (+912 billion soums), with other banks accounting for 394 billion soums. Among state banks, NPL growth was highest in Uzpromstroybank (+379 billion soums), AsakaBank (+168 billion soums), and Alokabank (+163 billion soums). Reductions were observed in Biznes-Razvitie Bank (-11 billion soums), Halk Bank (-6 billion soums), and Agrobank (-4 billion soums).

In the private sector, Ipoteka-Bank (+126 billion soums), Garant Bank (+74 billion soums), and Hayot Bank (+36 billion soums) saw the largest increases in problem loans. Despite the rise in absolute NPLs, their share of total credit only slightly increased from 3% to 3.2%, reflecting a stable credit market structure.