Tashkent, Uzbekistan (UzDaily.uz) — Total assets held by microfinance organisations in Uzbekistan reached 20.77 trillion soums as of 1 September 2026, up 114% from 9.69 trillion soums a year earlier, according to the Central Bank of Uzbekistan.
The net loan and microleasing portfolio grew by 106% to 18.08 trillion soums, while profit for the current year increased by 133% to 1.08 trillion soums. The number of microfinance organisations rose from 125 to 141, the central bank reported.
As of 1 September 2026, loans and microleasing accounted for 87% of microfinance organisations’ total assets, down from 91% a year earlier. The portfolio expanded from 8.78 trillion to 18.08 trillion soums.
Funds held by microfinance organisations in banks increased by 331%, from 304.1 billion to 1.31 trillion soums. Their share of total assets rose to 6%, compared with 3% a year earlier. Accrued interest receivable increased by 228% to 519.3 billion soums, while other assets rose by 146% to 583.8 billion soums.
Cash and other payment documents held in cash offices increased by 37% to 120.9 billion soums. Fixed assets rose by 19% to 147.4 billion soums.
Total liabilities increased by 138% over the year, from 6.86 trillion to 16.34 trillion soums. Loans, borrowings and lease payments accounted for 13.08 trillion soums, or 80% of total liabilities, compared with 5.81 trillion soums and 85% a year earlier.
Other liabilities increased by 221% to 2.71 trillion soums, while accrued interest payable rose by 203% to 518.1 billion soums. Accrued taxes payable declined by 16% to 27.4 billion soums.
Funding obtained by microfinance organisations from banks increased by 110%, from 2.17 trillion to 4.54 trillion soums.
Total capital grew by 57%, from 2.83 trillion to 4.43 trillion soums. Charter capital increased by 30% to 2.17 trillion soums, accounting for 49% of total capital, down from 59% a year earlier.
Retained earnings rose by 81% to 1.02 trillion soums, representing 23% of total capital. Profit for the current year increased by 133% to 1.08 trillion soums, accounting for 24% of capital. Reserve capital stood at 143.5 billion soums, while additional capital totalled 15.7 billion soums.
Among the 120 microfinance organisations for which the central bank provided capital data for both periods, 44 recorded a decline in total capital over the year.
As of 1 September 2026, 48 organisations had total capital exceeding 10 billion soums, accounting for 92% of the sector’s aggregate capital. A year earlier, 37 organisations were in this category, representing 91% of total capital. Another 48 organisations had capital of between 3 billion and 10 billion soums, accounting for 6%, while 45 had capital below 3 billion soums, representing 2%.
Charter capital exceeded 10 billion soums at 31 microfinance organisations, which together accounted for 83% of the sector’s total charter capital. Another 45 organisations had charter capital of between 3 billion and 10 billion soums, representing 10%, while 65 had less than 3 billion soums, accounting for 6%. On 1 September 2025, the corresponding figures were 25 organisations and 84%, 35 organisations and 7%, and 65 organisations and 9%, respectively.
TEZCOIN was the largest microfinance organisation by assets as of 1 September 2026. Its assets increased by 220%, from 2.39 trillion to 7.64 trillion soums, accounting for 36.8% of the sector’s total assets. The company’s net loan portfolio reached 6.97 trillion soums, while its liabilities stood at 6.82 trillion soums, including 969.1 billion soums in funding obtained from banks.
TEZCOIN’s total capital increased by 251% to 826.8 billion soums, while its charter capital remained unchanged at 50 billion soums.
SHAFFOF-MOLIYA ranked second, with assets of 1.78 trillion soums, up 4%. Its funding from banks declined by 52%, from 900.1 billion to 435.8 billion soums.
TBC CREDIT ranked third. Its assets increased from 1.85 billion to 1.48 trillion soums, while its capital rose from 1.85 billion to 185.2 billion soums.
FORTUNA BIZNES followed with assets of 1.20 trillion soums, up 16%, while VODIY TARAQQIYOT reported assets of 675.6 billion soums, an increase of 3%.
KORONA’s assets rose from 5.7 billion to 527.4 billion soums over the year, while those of BIZNESGA KO'MAKLASHISH increased from 49.6 billion to 333.3 billion soums.
COMMUNITY MIKROFINANCE’s assets grew from 2.0 billion to 285.7 billion soums. BRIGHT FUTURE FINANCING’s assets rose from 2.1 billion to 280.5 billion soums, FUNDFLOW’s from 2.0 billion to 238.4 billion soums, and URBAN FINANCE SOLUTIONS’ from 2.1 billion to 148.0 billion soums.
Of COMMUNITY MIKROFINANCE’s total liabilities of 273.3 billion soums, 263.6 billion soums consisted of funding obtained from banks.
Among the 120 microfinance organisations for which the central bank provided asset data for both periods, 41 recorded a year-on-year decline. HAMROH’s assets fell by 13% to 335.3 billion soums, PULMAN’s declined by 26% to 132.4 billion soums, and YANGI FINANCE’s dropped by 52% to 69.4 billion soums.
By asset size, 82 microfinance organisations held more than 10 billion soums in assets as of 1 September 2026. Together, they had assets of 20.53 trillion soums, a loan and microleasing portfolio of 17.95 trillion soums, capital of 4.26 trillion soums and liabilities of 16.27 trillion soums.
Twenty organisations with assets of between 5 billion and 10 billion soums had combined assets of 142.9 billion soums, loans of 92.7 billion soums, capital of 89.6 billion soums and liabilities of 53.3 billion soums.
Another 39 organisations had assets below 5 billion soums. Their combined assets totalled 92.6 billion soums, loans amounted to 41.4 billion soums, capital stood at 79.4 billion soums and liabilities totalled 13.3 billion soums.
The outstanding loan balance of microfinance organisations reached 18.64 trillion soums as of 1 September 2026, including 455.8 billion soums in non-performing loans (NPLs). The overall NPL ratio stood at 2.4%.
TEZCOIN reported non-performing loans of 118.9 billion soums, with an NPL ratio of 1.7%. SHAFFOF-MOLIYA had 74.0 billion soums in non-performing loans and an NPL ratio of 4.3%. OLTIN YULDUZ PLUS reported 19.0 billion soums in non-performing loans, representing 4.5% of its portfolio, while KORONA had 18.2 billion soums, or 5.7%.
FORTUNA BIZNES reported non-performing loans of 18.1 billion soums and an NPL ratio of 1.6%, while YANGI FINANCE had 16.7 billion soums in non-performing loans, with a ratio of 28.4%. The NPL ratio stood at 1.4% for VODIY TARAQQIYOT and 0.6% for TBC CREDIT.
The NPL ratio exceeded 10% at 29 microfinance organisations and 20% at 16 organisations. Four organisations reported ratios above 50%: SILVER FINANCE at 69%, ON DINOR KREDIT at 65%, SIRIUS KREDIT at 58% and KREDITOMAT TASHKENT at 56%.
No non-performing loans were reported by 29 organisations that had outstanding loan portfolios, including BIZNESGA KO'MAKLASHISH, COMMUNITY MIKROFINANCE, ZAYMLY and FUNDFLOW.
