Why is this important
Clear evidence has emerged that private banks are winning over state banks in the struggle for wealthy clients. This affects the liquidity, growth strategies, and stability of the entire banking system.
What happened
- The NBU leads in the number of depositors — almost 1.6 million people;
- However, Kapitalbank leads in terms of the volume of funds in accounts — more than 25 trillion soums, 10 trillion more than in the National Bank.
Average deposit amount:
- to the NBU — 8.9 million soums;
- to the Kapitalbank — 26,3 million soums;
- to the TBC Bank — almost 30 million;
- Xalq Bank has more than 1.2 million depositors, but the average amount is only 5 million;
- У Anorbank — 845 тыс. вкладчиков, но в среднем по 9,1 млн сумов на счет;
- State banks are mass, but “small” in terms of deposits; private ones are less mass, but “deep” in terms of volumes.
What they say
Financiers note that private banks previously focused on wealthy individuals, while state banks focused on corporate deposits. This gave the first access to long money and flexibility in lending.
Context
Now state banks are trying to make up for what they missed, but the structure of depositors is changing slowly. High rates, digital products, and premium service make private banks more attractive for “whales”.
Uzbekistan still maintains a high level of dollarization, and the fight for private deposits is an important element in stabilizing national currency liquidity.
