Banks of Uzbekistan in January 2026: assets grew by 0.33%, profit by 33.8%

Total assets of Uzbekistan's banks in January 2026 increased by 3.1 trillion som (+0.33%), while the sector's net profit amounted to 1.56 trillion som, which is 33.8% higher than in January 2025 (1.16 trillion). Data is based on commercial banks' reports as of January 1 and February 1, 2026.

Assets and Loans

State banks hold 63% of the market compared to 65% a year earlier. Uznaсbank remains the largest by assets (142.9 trillion som), but they decreased by 1.8 trillion over the month (-1.27%). SQB showed the largest absolute growth: +2.69 trillion som (+2.62%). Also among growth leaders are Octobank (+1.6 trillion), Hamkorbank (+1.57 trillion) and Agrobank (+1.09 trillion). Assets declined for Kapitalbank (-918.6 billion), Ipoteka-bank (-637.1 billion) and Orient Finans Bank (-440.6 billion).

The loan portfolio grew by 6.4 trillion som (+1.06%) to 610.4 trillion and accounts for about 65% of assets. Uznaсbank increased it by 1.43 trillion (+1.36%), Agrobank by 1.11 trillion (+1.37%), Aloqabank by 871.5 billion (+4.63%), Hamkorbank by 776.9 billion (+3.24%), Kapitalbank by 557.4 billion (+1.54%). TBC reduced the portfolio by 709.1 billion (-6.85%), Asakabank by 266 billion, Ipoteka-bank by 119 billion. Among digital banks, the portfolio grew for Open bank (+24.4%) and AVO bank (+8.8%). Yangi Bank disappeared from statistics due to liquidation.

Non-Performing Loans

NPL volume increased from 18.05 to 19.36 trillion som (+7.2%). For SQB, it increased by 379.3 billion, and the ratio rose from 2.53 to 3.09% against an average of 3.2% for the market. At Poytaxt bank, the NPL ratio increased by 9.38 p.p. to 33.79%, at Garant bank almost doubled to 9.85%. AVO bank reduced NPL by 13.3 billion, with the ratio falling from 8.17 to 6.14%. Octobank, UzKDB and Uzum maintain zero NPL.

Capital

System capital increased by 1.5 trillion som (+1.14%) to 136.9 trillion. Uznaсbank's capital is 20.1 trillion som. Poytaxt bank increased capital by 138.3%, from 175.5 to 418.2 billion som; the minimum capital requirement for a bank from January 1, 2025 is 500 billion som.

Deposits

Deposits increased by 2.76 trillion som (+0.66%), however large banks experienced outflows: Uznaсbank lost 518.5 billion (-1.03%), Kapitalbank 621.7 billion (-1.40%). Octobank attracted 1.54 trillion (+14.2%), Narodny bank 1.25 trillion, SQB 1.17 trillion. Uzum deposits grew by 27.7%, Ziraat Bank by over 20%. Davr bank experienced an outflow of 558 billion som (-11.25%).

Income and Profit

Non-interest income increased to 8.37 trillion som (+31%), interest income to 11.66 trillion (+17.4%). Interest expenses on deposits reached 8.41 trillion (+21.4%). Net interest margin amounted to 3.24 trillion som (+8.16%). Reserve expenses — 3.8 trillion (+1.6%). Return on assets increased from 2.2 to 2.3%, return on capital from 12.1 to 13.8%.