Uzbekistan Lending Rates: Central Bank April 2026 Data

Tashkent, Uzbekistan (UzDaily.com) — The Central Bank of the Republic of Uzbekistan released its comprehensive lending market data for April 2026 on June 12, revealing highly stabilized retail interest rates alongside a moderate reduction in commercial borrowing costs.

According to the regulator's analytical report, the average nominal interest rate for credit products denominated in the national currency (the Uzbek sum) settled at 19.7%. This figure reflects complete year-on-year stability, remaining entirely unchanged compared to the same period last year.

While consumer rates held firm, the corporate sector experienced minor relief as banks adjusted their terms for business financing. The average nominal rate on commercial loans in the national currency dropped to 22.0%, marking a year-on-year decline of 0.6 percentage points.

Despite the nominal drops, the domestic market continues to navigate high real interest rates—the nominal rate adjusted for current macroeconomic indicators.

"Taking current macroeconomic indicators into account, real interest rates in the national currency remain at a high level," the regulator noted in its statistical bulletin. "This indicator shaped up at 8.8% for individuals and stood at 8.2% for legal entities."

A separate trajectory was observed in foreign currency borrowing, where costs ticked upward. The average nominal interest rate for loans issued by commercial banks in foreign currencies reached 10.2%. The Central Bank indicated that this represents a minor upward dynamic, rising by 0.2 percentage points compared to April of last year.

According to the regulator, the stabilization of resource costs in the national currency, combined with the downward correction of business loan pricing, directly reflects the broader structural conditions currently shaping the country’s monetary and credit markets.