Why is this important
The National Bank of Uzbekistan’s financial results for 2025 show how the bank is performing year-on-year in terms of profitability and income/expense structure, amid asset growth. It’s especially important to note that almost half of operating expenses are salaries: this directly reflects the “cost of management” and impacts the bank’s performance. A breakdown of the loan and lease portfolio and reserves also helps understand the proportion of the balance sheet that lending represents and how the bank hedges against potential losses.
What happened
- The National Bank of Uzbekistan published its 2025 year-end report on the Unified Corporate Information Portal, reporting net profit of 1.91 trillion soums, an 11% increase from the previous year.
- The document states that the bank’s assets grew to 144.75 trillion soums over the year, with the bulk of these assets consisting of net credit and leasing operations.
- The bank also disclosed its income and expense structure, the dynamics of individual asset items in the fourth quarter, and the amount of labor costs.
Numbers and facts
- Net profit for 2025 amounted to 1.91 trillion soums, which is 11% (or 196.84 billion soums) more than in the previous year.
- The amount of income tax payable by the bank is indicated at 386.30 billion soums.
- The bank’s assets for the reporting period amounted to 144.75 trillion soums, which is 6.7% more than at the beginning of the year.
- 68.7% of assets were net credit and leasing transactions in the amount of 99.44 trillion soums.
- The reserve to cover possible losses on loans and leasing amounted to 5.94 trillion soums.
- The bank’s fixed assets for the reporting period amounted to 1.71 trillion soums.
- The value of other assets acquired through credit accounts amounted to 1.01 trillion soums.
- In the fourth quarter of 2025, the volume of securities increased from 7.27 trillion to 8.63 trillion soums (an increase of 1.36 trillion, or 18.8%).
- The volume of precious metals, coins and stones increased from 35 thousand soums to 23.00 billion soums.
- Interest income in 2025 amounted to 17.54 trillion soums, non-interest income — 11.43 trillion soums.
- Interest expenses for the year amounted to 11.75 trillion soums, non-interest expenses — 1.20 trillion soums.
- Total operating expenses are indicated at 2.76 trillion soums.
- Expenses on wages (and equivalent payments) amounted to 1.35 trillion soums, or 48.8% of total operating expenses.
Context
- The predominance of credit and leasing transactions in the asset structure and the presence of reserves of 5.94 trillion soums emphasize that the quality of the portfolio and the reserve policy remain key factors of stability.
- The growth in the volume of securities and the sharp jump in the precious metals/coins/stones category in the fourth quarter show that individual items in the asset structure changed significantly at the end of the year.
