Hamkorbank for the nine months of 2026 received almost 1.5 trillion soums in net profit — a growth of 16.8% year-over-year.

Key indicators

  • net profit for nine months — about 1.5 trillion soums (+16.8%);
  • profit for Q3 — 510.5 billion soums (+10.7%);
  • total revenue — 9 trillion soums (+28.8%);
  • loan portfolio — 30.8 trillion soums, third place among private banks;
  • share of problem loans — 1.4%.

What matters in these figures

Portfolio quality. The problem loan ratio of 1.4% is notably lower than the sector average: for private banks — about 3.2%, for state banks — around 4%.

This is especially noteworthy given rapid growth: the bank's assets increased by roughly a third over the year. Typically, aggressive portfolio expansion is accompanied by deteriorating quality — that's not happening here.

Growth rate divergence. Revenue increased by 28.8%, profit — by 16.8%. The gap suggests faster expense growth: this could result from infrastructure investments, reserve provisioning, or higher funding costs.

Indirect evidence for the first scenario: the bank expanded its terminal network by almost 14,000 devices over the year — more than any other market participant, accounting for nearly half of the system's total growth.

Quarterly momentum slowing

Q3 profit growth (+10.7%) lags the nine-month cumulative (+16.8%). In other words, growth rates are declining in the second half.

This pattern is typical for the sector under tight monetary policy: the cost of attracting funds rises, and often can't be fully passed through to lending rates.

Market position

The bank ranks among the most dynamic private institutions:

  • third place by loan portfolio among private banks;
  • third place by payment volume through the regulator's clearing system;
  • a leader in card issuance — plus 1.93 million over the year.

Bank shares trade on the Tashkent exchange under tickers HMKB and HMKBP and are among the market's most liquid securities.

Key considerations for investors

When evaluating a bank, it's useful to look beyond absolute profit, at its ratio to capital and assets — ROE and ROA metrics. These are published in full reports.

Separately, track the problem loan ratio trend: current levels are low, but rapid portfolio expansion manifests in arrears with a lag of several quarters.

Compare results with market valuation through the issuer's share price on the exchange.

This material is informational and not an investment recommendation.