Uzbekistan's Banking Sector Sees Asset Growth

2024-04-08 02:12:36

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, April 8. The assets ofUzbekistan's banking sector reached the mark of 648.6 trillionsoums ($51.3 billion) as of March 1, 2024, which is 15 percenthigher year-on-year, Trend reports.

As per the data of the Central Bank of Uzbekistan, foreigncurrency accounts for 44 percent, or 285.3 trillion soums ($22.5billion), of the total assets.

The volume of credit investments by banks in Uzbekistan grew by19 percent during the reporting period and amounted to 472.4trillion soums ($37.4 billion). Of the total volume of credits, 44percent, or 210.1 trillion soums ($16.6 billion), falls on foreigncurrency.

Bank deposits reached 237.9 trillion soums ($18.8 billion) byMarch 1, 2024, which is 13 percent more year-on-year. Deposits inforeign currency exceeded 68.1 trillion soums, or $5.3 billion (29percent of total loans).

The total capital of the banking sector of Uzbekistan totaled99.05 trillion soums ($7.8 billion) as of March 1, 2024, whichrepresents an increase of 21 percent cover year (400 billion soumsor $31.6 million in foreign currency).

Meanwhile, the loan portfolio of microfinance organizations inUzbekistan has almost doubled over the past year.

The loan portfolio of non-bank credit organizations has grownfrom 4.24 to 8.05 trillion soums (from $336.4 million to $638.7million) over the past 11 months, and their share in the totalbanking and financial system has grown from 1 to 1.7 percent.

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