Dividend payments in Uzbekistan have increased more than sixfold
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Dividend payments in Uzbekistan have increased more than sixfold

According to the National Agency for Prospective Projects, as of November 1, 2026, shareholders in Uzbekistan received over 7.8 trillion soums in dividends through the Central Securities Depository. This amount is more than six times higher than the figures for the same period last year.

The number of shareholders increased by 10.8% compared to the previous year, reaching over 1.122 million people. The vast majority of these are private individuals—1.056 million registered, which is more than 108,000 people more than at the beginning of the current year. The number of bondholders exceeded 4,000, an increase of 1.8 times.

The volume of corporate bond issuance exceeded 8.2 trillion soums by November 1, which is 2.6 times higher. Mortgage bonds totaling 200.9 billion soums appeared on the market for the first time. Additionally, five foreign currency bond issues totaling 100 million US dollars were registered.

Securities trading on the Tashkent Republican Stock Exchange for the first 10 months of 2026 amounted to 16.6 trillion soums. The number of transactions increased by 2.8 times, approaching 1.1 million. Corporate bond trading reached 6.1 trillion soums, more than eight times the previous level.

In investor protection, courts issued rulings during the reporting period obliging the return of 19.1 billion soums in dividends to investors. This amount doubled compared to last year. Of the 14 lawsuits filed, 13 were fully satisfied. Judicial decrees were issued in 67 out of 71 administrative cases, and over 200 mandatory instructions were sent to market participants.

In the licensing sector, five licenses were issued for investment intermediaries and two licenses for trust managers during the reporting period. Three notifications of activity for investment consultants were also processed. Ten licenses were revoked at the initiative of their owners, while one license was suspended for six months.

The agency received 358 complaints and appeals from investors in the first 10 months, compared to 585 such appeals for the same period last year. Of these, 249 came from private individuals and 109 from legal entities. A total of 348 appeals were reviewed, and 10 are still under consideration.

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Capital of Uzbekistan's banks grew by 17.3% over the year, reaching 152.9 trillion soms
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Capital of Uzbekistan's banks grew by 17.3% over the year, reaching 152.9 trillion soms

According to data from the Central Bank of Uzbekistan, the total capital of commercial banks in Uzbekistan reached 152.9 trillion soms as of October 1, 2026. This represents an increase of 17.3% compared to the same period last year, when the figure was 130.4 trillion soms.

The regulatory capital in the banking sector increased by 17.6%, amounting to 169.4 trillion soms. Since assets grew at comparable rates, the capital adequacy ratio remained virtually unchanged at 18.18%, compared to 18.19% the previous year.

Tier 1 capital adequacy indicators showed a slight decrease. The Tier 1 capital adequacy ratio was 14.99% compared to 15.06%, and the total Tier 1 capital ratio decreased to 14.61% from 15.02% previously.

Tier 1 capital increased by 17.6%, reaching 140.3 trillion soms, which accounts for 82.8% of the regulatory capital. Meanwhile, the total Tier 1 capital grew by 14.4% to 136.2 trillion soms. Additional Tier 1 capital increased almost elevenfold, rising from 0.38 trillion to 4.1 trillion soms.

Tier 2 capital increased by 20%, reaching 29.7 trillion soms. Profit was the main source of growth in banks' equity. Undistributed profit grew by 55.4% year-on-year, reaching 34.6 trillion soms, and its share in the total bank capital increased from 17.1% to 22.6%.

Shareholder capital increased by 9.6% to 101.2 trillion soms, while reserve capital grew by 10.6%, reaching 15.9 trillion soms.

Four banks had capital exceeding 10 trillion soms: National Bank of Uzbekistan with 21.2 trillion soms, Agrobank with 13.9 trillion soms, Uzpromstroybank with 13.1 trillion soms, and People's Bank with 11.5 trillion soms. Together they accounted for 39% of the total banking system capital, down from 42% the previous year.

Seven banks had capital in the range of 5 to 10 trillion soms, accounting for 33.8% of the total. Another eight banks had capital between 2 and 5 trillion soms, representing 18%. Five banks had capital from 1 to 2 trillion soms, and ten had capital from 500 billion to 1 trillion soms. Only one bank had capital below 500 billion soms, compared to four such banks the previous year.

Smaller banks demonstrated the highest capital buffers. The capital adequacy ratio among six banks with assets up to 3 trillion soms was 27.2%, and among six banks with assets from 3 to 10 trillion soms, it was 20.8%. Among the 12 largest banks, each with assets exceeding 30 trillion soms, this ratio was 17.6%.

Bank deposits in Uzbekistan grew by 34.9% to 501 trillion soums
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Bank deposits in Uzbekistan grew by 34.9% to 501 trillion soums

According to data from the Central Bank of Uzbekistan, as of October 1, 2026, deposits placed in commercial banks in Uzbekistan reached a volume of 501 trillion soums. This figure demonstrates a growth of 34.9% compared to the same period last year. Previously, on October 1, 2025, the total amount of deposits was 371.5 trillion soums.

The growth rate of deposits was significantly higher than the expansion rate of the loan portfolio, which increased by only 13.2% over the same period. Consequently, the ratio of loans to deposits in the banking system decreased from 1.57 to 1.32. For state-owned banks, this ratio decreased from 2.03 to 1.69, while for other banks it decreased from 1.06 to 0.93.

The main driver of growth was deposits in the national currency. Deposits denominated in soums increased by 41.8%, reaching 407.9 trillion soums, while foreign currency deposits grew by 11.2%, amounting to 93.1 trillion soums. The share of foreign currency deposits in the total volume decreased from 22.5% to 18.6%.

Customer structure showed that individual depositors contributed 191.6 trillion soums, accounting for 38.2% of the total deposit volume, while corporate deposits reached 309.4 trillion soums.

Changes in the structure of deposit maturities

The structure of deposit maturities also changed. Short-term deposits with a term of up to one year showed a growth of 49.3%, reaching 187.2 trillion soums, and became the largest category, accounting for 37.4% of the share. Long-term deposits increased by 24.3%, amounting to 168.3 trillion soums, although their share decreased from 36.5% to 33.6%. Demand deposits grew by 31.6%, reaching 145.5 trillion soums, corresponding to 29% of the total amount.

Private banks attracted deposits more actively than state-owned banks. Deposits in private banks grew by 40.8%, reaching 249.6 trillion soums, while state-owned banks saw a growth of 29.5%, amounting to 251.5 trillion soums. Currently, both segments have almost equal deposit volumes.

The National Bank of Uzbekistan (NBU) maintained the largest deposit volume with an amount of 58.8 trillion soums. Kapitalbank is second with 51.5 trillion soums, which also holds the largest volume of individual deposits in the banking system, amounting to 30 trillion soums. Following them are Agrobank with 44.6 trillion soums, Uzpromstroybank with 37.7 trillion soums, People's Bank with 31.5 trillion soums, and Ipoteka Bank with 29.3 trillion soums.

Impact of deposit growth on financing the banking sector

The increase in deposits also affected the funding structure of banks. Deposits now account for 56.2% of the banking sector's liabilities, compared to 50.4% a year earlier. Meanwhile, the share of borrowings and leasing obligations decreased from 33.6% to 28.2%. The volume of these borrowings increased by only 1.7% over the year, reaching 251.4 trillion soums.

Uzbekistan's Accommodation and Public Catering Sector Grew by 11.3% in the First Half of 2026
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uzdaily.uz

Uzbekistan's Accommodation and Public Catering Sector Grew by 11.3% in the First Half of 2026

According to data from the press service of the Ministry of Economy and Finance of Uzbekistan, the volume of services in the accommodation and public catering sector in the country reached 179.7 trillion UZS for the period from January to September 2026. This indicator demonstrates a growth of 11.3% compared to the same period last year.

The city of Tashkent became the leader in the volume of services provided, reaching 32.6 trillion UZS. It is followed by the Samarkand region with an indicator of 21.6 trillion UZS, and Namangan region ranked third with an amount of 17.8 trillion UZS.

It is noted that the Samarkand region demonstrated the fastest growth rate during the reporting period, increasing by 14.9%.

For 2026, the authorities set a goal to increase the total value of accommodation and public catering services across the country to 220 trillion UZS. By the end of September, 81.7% of the planned annual volume was achieved.

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