Uzbekistan shares loan portfolio volume of banking system

Uzbekistan Materials 19 February 2024 06:44 (UTC +04:00)
Kamol Ismailov
Kamol Ismailov
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TASHKENT, Uzbekistan, February 19. The loan portfolio of Uzbekistan's banking system amounted to 471.4 trillion soums ($38.2 billion) by the end of 2023, which is 21 percent higher year-on-year, Trend reports.

According to Central Bank of Uzbekistan data, banks allocated 148.6 trillion soums ($12 billion) to individuals in 2023, a 47 percent increase over the previous year.

Loans to legal businesses climbed by 12 percent, reaching 322.7 trillion soums ($26.1 billion) in 2023.

The Central Bank reports that people obtained 58.1 trillion soums ($4.7 billion) in mortgage loans (25 percent growth), 44.5 trillion soums ($3.6 billion) in consumer loans (92 percent growth), and 24.5 trillion soums ($1.9 billion) in microcredits (67 percent growth). Loans for education totaled 4.7 trillion soums, or $381.4 million (131 percent growth), while loans for entrepreneurship development totaled 16.3 trillion soums, or $1.3 billion (13 percent growth).

Loans worth 140.1 trillion soums or $11.3 billion (30 percent of the total loan portfolio) were directed to industry, 47.2 trillion soums or $3.8 billion (10 percent) to agriculture, 34.3 trillion soums or $2.7 billion (7 percent) to transport and communications, and 32.5 trillion soums or $2.6 billion (7 percent) to trade and catering.

Meanwhile, the volume of Uzbek commercial banks' problem loans amounted to 16.6 trillion soums ($1.3 billion) as of January 1, 2024.

The data from the Central Bank of Uzbekistan shows that the share of problem loans in the loan portfolio of commercial banks amounted to 3.5 percent.