Banks in Uzbekistan earn 3.41 trillion UZS in Q1, NBU leads the pack

In January–March 2025, the combined profit of Uzbekistan’s banks exceeded 3.41 trillion UZS — a 43.5% increase compared to the same period last year.

Many domestic banks are state-owned and function not only as commercial entities but also as institutions for economic development. As a result, they receive substantial government support, which makes it difficult to assess their profitability in purely market-driven terms.

The seven most profitable banks in Q1 2025 were:

• National Bank of Uzbekistan (NBU) – 467.9 billion UZS
• Uzsanoatqurilishbank – 403.98 billion UZS
• Hamkorbank – 393.4 billion UZS
• Orient Finans Bank – 282.12 billion UZS
• Ipak Yuli Bank – 280.43 billion UZS
• Kapitalbank – 276.35 billion UZS
• Trustbank – 200.76 billion UZS

Nine banks reported profits between 50 billion and 200 billion UZS:

• Business Development Bank – 196.35 billion UZS
• KDB Bank – 149.03 billion UZS
• Davrbank – 129.81 billion UZS
• Anorbank – 117.03 billion UZS
• Asia Alliance Bank – 109.16 billion UZS
• Octobank – 108.5 billion UZS
• Universal Bank – 72.97 billion UZS
• Alokabank – 72.21 billion UZS
• InfinBank – 68.52 billion UZS

Fourteen financial institutions earned less than 50 billion UZS:

• People’s Bank – 39.58 billion UZS
• Uzum Bank – 37.8 billion UZS
• TBC Bank – 31.88 billion UZS
• Microcreditbank – 24.04 billion UZS
• Hayot Bank – 17.18 billion UZS
• Agrobank – 17.04 billion UZS
• Asakabank – 15.9 billion UZS
• Ziraat Bank – 10.59 billion UZS
• Saderatbank – 7.73 billion UZS
• Turonbank – 7.26 billion UZS
• Pochtabank – 4.96 billion UZS
• Tenge Bank – 920.87 million UZS
• Smart Bank – 628.51 million UZS
• Mybank (formerly Madad Invest Bank) – 280 million UZS

Six banks operated at a loss during the quarter:

• AVO Bank – minus 4.97 billion UZS
• Garant Bank – minus 12.54 billion UZS
• Yangi Bank – minus 24.74 billion UZS
• Eurasian Bank – minus 25.6 billion UZS
• Apex Bank – minus 26.69 billion UZS
• Ipoteka Bank – minus 30.73 billion UZS

Meanwhile, the Central Bank reported that in March, the share of non-performing loans (NPLs) in Uzbekistan’s banking sector declined from 4.5% to 4.3%. Notably, NPLs at state-owned banks fell below the level of private banks — 4.2% vs. 4.3%, respectively.