Why is this important
The updated bank rating reflects real competition and the redistribution of positions within the financial sector. The dynamics of the indicators make it possible to assess the stability of banks and the effectiveness of their business models. The growth of key financial indicators alongside a reduction in non-performing loans indicates an improvement in the quality of the banking system. For clients and investors, the rating serves as a guide when choosing financial partners.
What happened
- The Center for Economic Research and Reforms has updated the rating of Uzbekistan’s banks based on the results of the first quarter of 2026.
- The rating is based on the “Bank Activity Index” and covers 34 commercial banks, including 20 large and 14 small ones.
- Changes in positions were recorded in both categories, despite the relative stability of the leaders.
- The dynamics reflect intensified competition and the redistribution of market shares.
Numbers and facts
- The total assets of the banking sector amounted to 932.3 trillion soums, while liabilities stood at 793.9 trillion soums.
- Lending increased by 14%, deposits by 32%, and net profit reached 3.1 trillion soums, rising by 36.3% year-on-year.
- The share of non-performing loans decreased to 3.3% compared to 4.5% a year earlier.
Large banks
- In the segment of large banks, Kapitalbank ranked first, followed by Hamkorbank and Asia Alliance Bank.
- The top five also included Ipak Yuli Bank and Trust Bank, with Tenge Bank showing the highest growth (+6 positions), while Agrobank, Invest Finance Bank, and Halk Bank each rose by 2 positions.
- A decline was recorded for Orient Finance Bank (−5) and Trust Bank (−3), while Mikrokreditbank, Asaka Bank, and Turon Bank were among the outsiders.
In terms of key indicators, the following banks are leading among large institutions:
- financial intermediation: Invest Finance Bank, Anor Bank, Kapitalbank;
- financial accessibility: Agrobank, Anor Bank, BRB;
- capital adequacy: Orient Finance Bank, Trust Bank, Xalq banki;
- asset quality: Hamkorbank, Asia Alliance Bank, Ipak Yuli Bank;
- management efficiency: Uzpromstroybank, Orient Finance Bank, NBU;
- profitability: Hamkorbank, Trust Bank, Asia Alliance Bank;
- liquidity: Asia Alliance Bank, Ipak Yuli Bank, Trust Bank.
Small banks
- In the segment of small banks, TBC Bank ranked first, followed by Universal Bank and AVO Bank, while the top five also included Apex Bank and Hayat Bank.
- The highest growth was shown by AVO Bank and Apex Bank (+3 positions), as well as Ziraat Bank, Saderat Bank Iran, and Garant Bank (+2 positions).
- The most notable decline was recorded for Octobank (−6 positions), while Madad Invest Bank, Open Bank, and Uzum Bank were among the outsiders.
Context
- For customers, competition between banks is intensifying, which may lead to improved service conditions and products.
- Banks with rising positions gain additional trust from the market and investors.
- A decline in the positions of certain players signals the need to adjust strategies and improve efficiency.
- Overall, the banking system demonstrates resilience amid the ongoing redistribution of forces within the sector.
