Why is this important
The growth of microfinance reflects an increasing demand for quick loans and access to funding for small businesses and the general population. Banks continue to lead, but the roles of private firms and microfinance organisations are strengthening.
What happened
- Banks provided 53.6 trillion soums (80% of the market);
- MFO — 12,0 trln (18%);
- Pawnshops — 1,3 trln (2%);
- 91% of all services (61.1 trillion) — loans up to 100 million soums;
- 9% (5.8 trillion) — loans from 100 to 300 million soums.
Bank growth
- State banks: Microcreditbank — 2.6 times (microloans — 4.4 times), Agrobank — 2.4 times (microloans — 5.5 times), Aloqabank — 2.2 times (microloans — 3.6 times);
- Private banks: TBC Bank — 3.2 times growth (microloans 3 times), InFinBank — 3.1 times growth (cards growth 3.3 times), Anor bank — +75% (microloans +73%).
Context
In the MFO sector, Tezcoin leads with 5.6 trillion soums. Among microcredit insurers, Shaffof-Moliya and Fortuna Biznes hold strong positions. The Central Bank notes that rapid growth requires increased risk control and transparency.
