Tashkent, Uzbekistan (UzDaily.uz) — Deposits held by Uzbekistan's commercial banks reached 501 trillion soums as of 1 October 2026, increasing by 34.9% year on year, according to the Central Bank of Uzbekistan. The total stood at 371.5 trillion soums on 1 October 2025.
Deposits grew significantly faster than lending, with the loan portfolio expanding by 13.2% over the same period. As a result, the banking system's loan-to-deposit ratio declined from 1.57 to 1.32. The ratio at banks with state ownership fell from 2.03 to 1.69, while that of other banks decreased from 1.06 to 0.93.
Growth was driven primarily by deposits in the national currency. Soum-denominated deposits increased by 41.8% to 407.9 trillion soums, while foreign currency deposits rose by 11.2% to 93.1 trillion soums. The share of foreign currency deposits in total deposits declined from 22.5% to 18.6%.
Individual customers accounted for 191.6 trillion soums, or 38.2% of total deposits, while corporate deposits amounted to 309.4 trillion soums.
The maturity structure of deposits also changed. Short-term fixed-term deposits with maturities of up to one year increased by 49.3% to 187.2 trillion soums, becoming the largest category with a 37.4% share.
Long-term deposits grew by 24.3% to 168.3 trillion soums, although their share declined from 36.5% to 33.6%. Demand deposits increased by 31.6% to 145.5 trillion soums, accounting for 29% of the total.
Private banks attracted deposits more rapidly than banks with state ownership. Deposits at private banks rose by 40.8% to 249.6 trillion soums, while those at banks with state ownership increased by 29.5% to 251.5 trillion soums. The two groups now hold almost equal volumes of deposits.
National Bank of Uzbekistan (NBU) remained the country's largest deposit holder, with 58.8 trillion soums. Kapitalbank ranked second with 51.5 trillion soums and held the banking system's largest volume of household deposits, at 30 trillion soums.
It was followed by Agrobank with 44.6 trillion soums, Uzpromstroybank with 37.7 trillion soums, People's Bank with 31.5 trillion soums and Ipoteka Bank with 29.3 trillion soums.
The increase in deposits also changed the structure of bank funding. Deposits accounted for 56.2% of banking sector liabilities, up from 50.4% a year earlier. Meanwhile, the share of borrowings and leasing liabilities declined from 33.6% to 28.2%.
The volume of these borrowings increased by just 1.7% over the year, reaching 251.4 trillion soums.
