Uzbekistan Credit Market Surges 36% to Reach 390 Trillion Soums in 2025

Tashkent, Uzbekistan (UzDaily.com) — Commercial banks in Uzbekistan significantly intensified their lending activities throughout 2025, reflecting a broad expansion of institutional financing across the national economy. According to the latest data from the Central Bank of Uzbekistan, the total volume of loans issued reached 390 trillion soums, marking an approximate 36% increase over the 287.2 trillion soums recorded in 2024.

The primary engine of this credit expansion was lending in the national currency. In 2025, soum-denominated loans grew to 276.4 trillion soums, up from 193.3 trillion soums the previous year. A substantial portion of this growth was driven by individuals, who accounted for 156.8 trillion soums, underscoring resilient demand for consumer credit and mortgages. Corporate entities received 108.8 trillion soums in local currency loans, while individual entrepreneurs were granted 10.8 trillion soums.

Foreign currency lending also saw an uptick, reaching 113.6 trillion soums by the end of 2025 compared to 94 trillion soums in 2024. This segment remained almost exclusively concentrated in the corporate sector, with legal entities borrowing 113.1 trillion soums. This trend highlights a steady appetite among businesses for foreign currency to fund large-scale investment projects and international trade operations. Individual entrepreneurs accounted for a modest 441.5 billion soums in foreign currency credit.

Analysis of the 2024–2025 period indicates a strategic shift toward a higher share of national currency loans within the overall banking portfolio, even as the corporate sector maintains its reliance on foreign currency for specific economic objectives. Bank lending continues to serve as a critical instrument in sustaining domestic business activity and supporting long-term economic processes across the country.