Uzbekistan's banking sector sees asset growth
Economy
The assets of Uzbekistan's banking sector reached the mark of 648.6 trillion sums ($51.3 billion) as of March 1, 2024, which is 15 percent higher year-on-year. This is reported by Trend News Agency.
As per the data of the Central Bank of Uzbekistan, foreign currency accounts for 44 percent, or 285.3 trillion sums ($22.5 billion), of the total assets.
The volume of credit investments by banks in Uzbekistan grew by 19 percent during the reporting period and amounted to 472.4 trillion sums ($37.4 billion). Of the total volume of credits, 44 percent, or 210.1 trillion sums ($16.6 billion), falls on foreign currency.
Bank deposits reached 237.9 trillion sums ($18.8 billion) by March 1, 2024, which is 13 percent more year-on-year. Deposits in foreign currency exceeded 68.1 trillion sums, or $5.3 billion (29 percent of total loans).
The total capital of the banking sector of Uzbekistan totalled 99.05 trillion sums ($7.8 billion) as of March 1, 2024, which represents an increase of 21 percent cover year (400 billion sums or $31.6 million in foreign currency).
Meanwhile, the loan portfolio of microfinance organizations in Uzbekistan has almost doubled over the past year.
The loan portfolio of non-bank credit organizations has grown from 4.24 to 8.05 trillion sums (from $336.4 million to $638.7 million) over the past 11 months, and their share in the total banking and financial system has grown from 1 to 1.7 percent.
The volume of credit investments by banks in Uzbekistan grew by 19 percent during the reporting period and amounted to 472.4 trillion sums ($37.4 billion). Of the total volume of credits, 44 percent, or 210.1 trillion sums ($16.6 billion), falls on foreign currency.
Bank deposits reached 237.9 trillion sums ($18.8 billion) by March 1, 2024, which is 13 percent more year-on-year. Deposits in foreign currency exceeded 68.1 trillion sums, or $5.3 billion (29 percent of total loans).
The total capital of the banking sector of Uzbekistan totalled 99.05 trillion sums ($7.8 billion) as of March 1, 2024, which represents an increase of 21 percent cover year (400 billion sums or $31.6 million in foreign currency).
Meanwhile, the loan portfolio of microfinance organizations in Uzbekistan has almost doubled over the past year.
The loan portfolio of non-bank credit organizations has grown from 4.24 to 8.05 trillion sums (from $336.4 million to $638.7 million) over the past 11 months, and their share in the total banking and financial system has grown from 1 to 1.7 percent.
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