Uzbekistan's Non-Performing Loans Stand at 3.7% of Total Portfolio, Central Bank Reports

Tashkent, Uzbekistan (UzDaily.uz) — According to data released by the Central Bank of the Republic of Uzbekistan, the volume of non-performing loans (NPLs) in the country’s banking system reached 23.6 trillion soums as of June 1, 2026. This figure represents 3.7% of the aggregate loan portfolio, which stands at 636 trillion soums. Across individual financial institutions, the NPL ratio varies significantly, ranging from 0% to 13.9%.

State-owned banks account for the largest share of the troubled portfolio, holding 16.7 trillion soums across nine institutions. The average NPL ratio for state-controlled lenders stands at 4.0%, notably higher than the 3.2% average recorded by private and foreign-owned banks.

Among the state-owned institutions, Microcreditbank recorded the highest proportion of non-performing loans at 7.9% against a loan portfolio of 22.6 trillion soums. Asaka Bank and Xalq Banki (People's Bank) followed with NPL ratios of 4.9% and 4.7%, respectively. Meanwhile, the National Bank of Uzbekistan (NBU), which holds the largest loan portfolio among state lenders at 107.5 trillion soums, managed to maintain its NPL ratio at 3.3%.

The private and foreign banking segment displays a much more contrasted performance. Garant Bank registered the highest proportion of non-performing loans in the reported sample, reaching 13.9% on a portfolio of 1.6 trillion soums. TBC Bank reported an NPL ratio of 10.4%, followed by Poytaxt Bank at 9.9% and Anorbank at 7.7%.

Conversely, four commercial financial institutions reported zero non-performing loans: KDB Bank Uzbekistan, Octobank, Uzum Bank, and Apex Bank. Hamkorbank, one of the largest private players with a portfolio of 28.5 trillion soums, kept its bad loan ratio at a low 1.1%.

Kapitalbank and Ipoteka-Bank, the two largest entities in the non-state segment with loan portfolios of 37.9 trillion and 35.9 trillion soums, reported NPL ratios of 3.4% and 2.9%, respectively.

On an aggregate level, regulators generally view the system-wide NPL ratio of 3.7% as remaining within a manageable range. However, the wide discrepancy between individual banks—stretching from 0% to nearly 14%—highlights a substantial disparity in asset quality across different segments of Uzbekistan's banking sector.