BAKU, Azerbaijan, Mar. 6
By Ilkin Seyfaddini – Trend:
Aggregate credit portfolio of individuals in Uzbekistan increased by 2.1 percent in nominal value in 2019 and decreased with devaluation of national currency by 10.5 percent to 40.8 trillion soum ($4.2 billion), Trend reports with reference to the Central Bank of Uzbekistan.
The share of individual credit in the total credit portfolio grew from 18.9 percent as of January 1 2019, to 19.1 percent as of January 1 2020.
Mortgage loans - 21.2 trillion soum ($2.2 billion, 4.4 percent growth), loans for business development - 6.1 trillion soum ($638.9 million, 5.6 percent decrease) and loans for cars - 5.7 trillion soum ($539.8 million, 4.8 percent growth) account for the largest balance of household loans in commercial banks of the country.
The weighted average interest rates on credits in national currency increased from 22.6 percent per annum in January 2019, to 25.8 percent per annum in January 2020, in foreign currency - from 6.4 percent to 7.5 percent per annum respectively.
Today, 30 commercial banks operating in Uzbekistan, including five state-owned, six private, seven banks with foreign capital participation and 12 joint stock commercial banks. At the same time, 13 banks, including five state banks, have a state share.
There are 850 branches, 1,030 mini-banks, 1,941 cash desks located outside the banks, as well as 939 currency exchange offices, 1,133 international money transfer offices, and 2,125 mobile cash desks.
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