Uzbekistan Banking Assets Exceed 1 Quadrillion Soums

Tashkent, Uzbekistan (UzDaily.uz) — Total assets of commercial banks in Uzbekistan reached 1,005.8 trillion soums as of 1 July 2026, an 18% increase year-on-year from 852.2 trillion soums on the same date in 2025, according to banking sector performance data.

The loan portfolio of banks grew 12% to 642.8 trillion soums, deposits rose 33% to 473.8 trillion soums, and total equity increased 19% to 148.9 trillion soums.

The foreign currency share in total assets declined from 40% to 35%, in loans from 42% to 39%, and in deposits from 24% to 19%. The outstripping growth of soum-denominated indicators relative to foreign currency figures reflects a more active expansion of operations in the national currency.

State-Owned Banks and Market Structure

State-owned banks retain a dominant position in the system, controlling 62% of assets, 66% of loans, 58% of capital, and 52% of deposits.

National Bank of Uzbekistan (NBU) remains the country's largest bank with assets of 146.5 trillion soums, representing 15% of the market. It is followed by Agrobank with 118.4 trillion soums (12%) and Uzpromstroybank with 108.5 trillion soums (11%).

The next largest by assets are Asaka Bank with 62.5 trillion soums, Xalq Bank with 57.8 trillion soums, Business Development Bank with 41.2 trillion soums, Aloqabank with 36.7 trillion soums, Microcreditbank with 34.4 trillion soums, and Turon Bank with 22 trillion soums.

Among banks without a state share, Kapitalbank leads with assets of 62.7 trillion soums, followed by Ipoteka-bank with 56.7 trillion soums.

Kapitalbank ranks third in the country by deposit volume at 47.3 trillion soums, behind only NBU and Agrobank. Octobank, with relatively modest assets of 16.5 trillion soums, holds 14.8 trillion soums in deposits—representing nearly its entire balance sheet and pointing to a deposit-oriented business model.

Loans by Industry

By sector, retail borrowers remain the largest segment. Loans to individuals grew 20% from 196.9 trillion to 235.9 trillion soums, increasing their share of the overall loan portfolio from 34% to 37%, ranking first among all borrower categories.

Industrial lending fell 13% from 157.6 trillion to 137.6 trillion soums, with the sector's share dropping from 27% to 21%. Industry was the only major sector to record an absolute decline, along with housing and public utilities, which fell 8% to 1.9 trillion soums.

Lending to trade and public services grew 23% to 49.3 trillion soums, construction rose 37% to 20.9 trillion soums, and agriculture grew 14% to 66.3 trillion soums. The "other sectors" category posted a 36% increase, reaching 92.4 trillion soums. Transport and communications lending remained virtually unchanged, rising 1% to 33.9 trillion soums.

Loans and Deposits by Bank

Out of the total 642.8 trillion soum loan portfolio as of 1 July 2026, retail loans accounted for 235.9 trillion soums (37%), while corporate loans made up 406.9 trillion soums (63%).

Ipoteka-bank emerged as the largest retail lender with 29.5 trillion soums in individual loans, followed by Xalq Bank with 25.5 trillion soums.

NBU remains the largest corporate lender with 83.6 trillion soums in loans to legal entities.

Kapitalbank leads in retail deposits with 28.1 trillion soums, higher than any other bank in the country, including the largest state-owned institutions. NBU is the largest holder of corporate deposits with 39.4 trillion soums.