Uzbekistan’s banking system concluded 2025 with historically strong financial results. By year-end, the total net profit of commercial banks reached UZS 13.5 trillion, marking a 57% increase compared to the previous year. This performance highlights a significant improvement in the stability and efficiency of the national banking sector.
These figures are presented in the latest analytical report prepared by the Center for Economic Research and Reforms (CERR), which published the “Bank Activity Index” for the fourth quarter. The report was released on January 14, 2026, and covers the operations of 35 commercial banks across the country, including 20 large and 15 small institutions.
The assessment methodology is based on 27 key indicators, benchmarked against national regulatory requirements as well as international standards, including the stringent principles of the Basel Committee. This approach enabled a comprehensive evaluation of liquidity, risk management quality, and overall financial resilience.
Core sector indicators demonstrate steady positive momentum. By the end of the reporting period, total banking system assets reached UZS 892.9 trillion (approximately $74.2 billion), while total liabilities amounted to UZS 759.8 trillion (around $63.1 billion).
Analysts highlighted a notable divergence in growth rates between lending and funding. While the loan portfolio expanded by 13%, the deposit base surged by 31%. Experts attribute this trend to a substantial increase in confidence in the banking system among both households and the business community.
Qualitative shifts were also observed in the structure of operations. The share of foreign-currency transactions declined, reflecting the strengthening of the national currency. At the same time, credit quality improved: the share of non-performing loans (NPLs) decreased from 4.3% a year earlier to 3.5%.
Banks continue to maintain a strong capital buffer. The capital adequacy ratio exceeds regulatory requirements by more than 1.4 times, confirming the sector’s ability to withstand potential internal and external shocks.
Among large banks, private and joint-stock institutions retained leadership in terms of activity. The top positions in the ranking were occupied by Kapitalbank, Trastbank, Hamkorbank, Asia Alliance Bank, and Ipak Yuli Bank. In the middle of the ranking, SQB demonstrated notable progress, climbing three positions, while Invest Finance Bank and Aloqa Bank slipped slightly.
Within the segment of 15 small banks, the top five most active institutions included Universalbank, digital TBC, Octobank, Hayot Bank, and Poytaxt Bank. Universalbank retained its leading position in this category, while Apex Bank advanced three places in the ranking, supported by an aggressive growth strategy.
In recent years, Uzbekistan’s banking sector has increasingly embraced “phygitalization”—the integration of physical and digital customer experiences. Even traditional banks are actively optimizing branch networks while prioritizing the development of mobile platforms and digital ecosystems, following the example of fully digital banks such as TBC.