Why is this important
Such growth indicates an increase in operational efficiency and strengthening of the bank’s position in a competitive environment.
What happened
- In the third quarter, the profit grew to 577.4 billion soums, while a year earlier, this figure was 33.2 billion soums.
- Based on the results of 9 months, the total net profit amounted to almost 1.4 trillion soums, which is 73% more than a year ago.
- In the bank’s profit ranking, the bank rose to second place, only behind the National Bank (1.45 trillion) and ahead of Hamkorbank (1.3 trillion).
Context
A sharp jump in quarterly profit can be related to cost optimization, increased lending income, or operational transformation. The growth of net profit can increase the bank’s attractiveness to investors and depositors. This also strengthens the bank’s position within the framework of the bank sector reform and privatization strategy.
