Tashkent, Uzbekistan (UzDaily.uz) — The total assets of microfinance organizations in Uzbekistan reached 20.8 trillion soums as of 1 September 2026, more than doubling from 9.7 trillion soums a year earlier, according to the Central Bank of Uzbekistan.
Assets grew by 114.3% year on year, driven primarily by the expansion of lending.
Loans and microleasing continued to account for the largest share of assets. Their net value increased by 106%, from 8.8 trillion to 18.1 trillion soums.
However, loans’ share of total assets declined from 90.6% to 87.1%. Microfinance organizations’ funds held in bank accounts rose more than fourfold, from 304.1 billion to 1.3 trillion soums.
The sector’s capital base also strengthened. Total capital grew by 56.6%, from 2.8 trillion to 4.4 trillion soums. Retained earnings increased by 80.5%, while profit for the current year rose by 133.4%.
Liabilities grew faster than assets, rising by 138.1% from 6.9 trillion to 16.3 trillion soums. Loans, borrowings and lease payments due accounted for 80.1% of liabilities, or 13.1 trillion soums.
As of 1 September, Uzbekistan had 138 microfinance organizations. The market remained highly concentrated, with the five largest players accounting for around 62% of the sector’s total assets.
The largest microfinance organization, TEZCOIN, increased its assets 3.2-fold, from 2.39 trillion to 7.64 trillion soums. It accounted for nearly 37% of the sector’s total assets. Its net loan portfolio grew from 2.31 trillion to 6.97 trillion soums.
Shaffof-Moliya ranked second, with assets of 1.78 trillion soums, up 4.3% year on year. TBC Credit moved into third place after increasing its assets from 1.9 billion to 1.48 trillion soums over the year.
The top five also included Fortuna Biznes, with assets of 1.2 trillion soums, up 15.7%, and Vodiy Taraqqiyot, with 675.6 billion soums, up 2.8%.
Among major market participants, the fastest growth was recorded by Korona, whose assets rose from 5.7 billion to 527.4 billion soums; Agat Credit, whose assets increased 2.5-fold to 441.3 billion soums; and Oltin Yulduz Plus, whose assets grew 3.1-fold to 412 billion soums.
Assets declined at Hamroh, falling 13.2% to 335.3 billion soums, and Pulman, down 25.6% to 132.4 billion soums.
