Xalq Bank Enters Forbes’ Top 500 Performing Banks in the World
Economy
Uzbekistan’s Xalq Bank has been included in Forbes’ inaugural World’s Top Performing Banks 2026 ranking, published on September 9. The bank ranked 142nd in Tier 6, which covers financial institutions with assets between $3 billion and $10 billion.
The ranking includes 500 banks from 89 countries. Forbes and research firm Statista assessed banks using objective financial data, unlike the World’s Best Banks ranking, which is primarily based on customer evaluations. Eligible institutions were required to have more than $3 billion in assets, audited financial statements and comparable data for at least three consecutive years.
Banks were evaluated across four areas: profitability, weighted at 30%; growth and earnings quality, 20%; capital and funding resilience, 25%; and asset quality and efficiency, 25%. The methodology included indicators such as profitability, cost-to-income ratios, net interest margins, earnings and deposit growth, capital adequacy, loan-to-deposit ratios and credit portfolio quality.
The 142nd position should therefore not be interpreted as 142nd among all banks worldwide. Forbes first divided eligible institutions into six tiers based on asset size, allowing banks to be compared with peers of a similar scale. Xalq Bank was placed in Tier 6, covering banks with assets of $3 billion to $10 billion.
The bank’s recent financial performance corresponds to several of the ranking’s criteria. According to the data provided in the source material, in 2025 Xalq Bank’s assets increased by 5.6 trillion soums to 52.1 trillion soums. Capital reached 10.6 trillion soums, its loan portfolio grew to 31.8 trillion, and deposits rose to 26.6 trillion soums. Net profit increased to 702.5 billion soums from about 268.5 billion soums a year earlier.
The bank also recorded an improvement in its credit profile. In 2025, Fitch Ratings upgraded Xalq Bank’s long-term rating to BB with a stable outlook.
Xalq Bank’s inclusion in the Forbes ranking therefore reflects a combination of financial indicators rather than a single factor. At the same time, its 142nd position should be viewed specifically within the peer group defined by the bank’s asset size.
Banks were evaluated across four areas: profitability, weighted at 30%; growth and earnings quality, 20%; capital and funding resilience, 25%; and asset quality and efficiency, 25%. The methodology included indicators such as profitability, cost-to-income ratios, net interest margins, earnings and deposit growth, capital adequacy, loan-to-deposit ratios and credit portfolio quality.
The 142nd position should therefore not be interpreted as 142nd among all banks worldwide. Forbes first divided eligible institutions into six tiers based on asset size, allowing banks to be compared with peers of a similar scale. Xalq Bank was placed in Tier 6, covering banks with assets of $3 billion to $10 billion.
The bank’s recent financial performance corresponds to several of the ranking’s criteria. According to the data provided in the source material, in 2025 Xalq Bank’s assets increased by 5.6 trillion soums to 52.1 trillion soums. Capital reached 10.6 trillion soums, its loan portfolio grew to 31.8 trillion, and deposits rose to 26.6 trillion soums. Net profit increased to 702.5 billion soums from about 268.5 billion soums a year earlier.
The bank also recorded an improvement in its credit profile. In 2025, Fitch Ratings upgraded Xalq Bank’s long-term rating to BB with a stable outlook.
Xalq Bank’s inclusion in the Forbes ranking therefore reflects a combination of financial indicators rather than a single factor. At the same time, its 142nd position should be viewed specifically within the peer group defined by the bank’s asset size.
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