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Uzbek banks' aggregate net profit sees rise in 2021

Finance Materials 28 August 2021 15:01 (UTC +04:00)
Uzbek banks' aggregate net profit sees rise in 2021

BAKU, Azerbaijan, Aug. 28

By Fakhri Vakilov - Trend:

Net profit of 32 banks in Uzbekistan, in total, amounted to $327 million within seven months of 2021, Trend reports citing Central Bank of Uzbekistan.

The growth was almost 11 percent compared to the same period in 2020.

More than half or $171.9 million of total profit was earned by those financial institutions, whose assets stand above $2.8 billion, in particular Uznatsbank, Uzpromstroybank, Asakabank, Agrobank and Ipoteka-bank.

From January through July of 2021, financial institutions have cumulatively increased their interest margin by 21.8 percent or $882.5 million. Non-interest income amounted to $253.7 million, which is 3.4 times more than last year. Assessment of possible losses on loans and leasing reached $702 million (+ 70 percent).

Compared to the estimate as of August 1, 2020, the return on assets of the banking sector fell from 2.3 percent to 2 percent, and the return on equity from 10 percent to 9.8 percent.

In the first half of the year, Uzpromstroybank became the most profitable bank in Uzbekistan, which received $52.1 million of net profit.

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