Net profit of Uzbekistan’s banking sector increases

Finance Materials 1 April 2021 15:55 (UTC +04:00)
Net profit of Uzbekistan’s banking sector increases

BAKU, Azerbaijan, Apr. 1

By Klavdiya Romakayeva - Trend:

The total net profit of the banking sector in Uzbekistan increased by 207 billion soums ($19.8 million) over the year as of March 1, 2021, Trend reports with reference to the Central Bank of Uzbekistan.

According to the Central Bank, the net profit of the banking sector in Uzbekistan for the reporting period reached 1.2 trillion soums ($114 million).

In addition, the main turnover of funds in the banking sector fell on interest income and expenses – 6.9 trillion soums ($658 million) and 4.4 trillion soums ($420 million), respectively.

At the same time, the total income tax of the banking sector amounted to 240 billion soums ($23 million).

Earlier it was reported that banks of Uzbekistan earned 5.6 trillion soums of net profit in 2020, which is 20.5 percent more than a year earlier.

It was also noted that the banking sector in 2020 as a whole received 37.06 trillion soums ($3.5 billion) of interest income (an increase of 45.3 percent). Expenditures in this category formed at the level of 23.03 trillion ($2.2 billion), which is 47.5 percent higher than a year earlier.

In addition, the National Bank for Foreign Economic Affairs of Uzbekistan in 2020 earned 905.41 billion soums ($86 million) of net profit, which is 13.24 percent less than a year earlier ($100 million). It was noted that despite the decrease, this financial institution accounts for 16 percent of the total net profit of banks.


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