Kapitalbank retains top position in Uzbekistan’s Q2 2025 rating

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International Department Journalist
Uzbekistan’s banks show mixed results in Q2 2025
Kapitalbank, bank, finance
Several banks saw strong upward movement. Photo: Britannica

According to a press release shared with Kursiv, Uzbekistan’s Centre for Economic Research and Reforms (CERR) has released its updated Bank Activity Rating for the second quarter of 2025. The index, which tracks the performance of 35 commercial banks using 27 indicators, shows growing competition across the sector.

The ranking divides banks into large and small categories. It evaluates seven main areas, including asset quality, profitability, liquidity, and financial inclusion. Since 2021, this rating has served as a tool to monitor banking reforms and sector performance.

Kapitalbank Still Ahead, Trastbank Gains Ground

bank ratings
The Image reflects ratings of 20 largest banks. Image: CERR

Among the country’s 20 largest banks, Kapitalbank maintained its lead, while Trastbank rose three places to take second. Hamkorbank and Asia Alliance Bank followed, with Anor Bank — now newly listed among large banks — rounding out the top five.

Several banks saw strong upward movement. Invest Finance Bank rose three spots to eighth place. Tenge Bank and NBU improved modestly, while others — including Aloqabank, Agrobank and Davr Bank — slipped down the list.

Asset growth varied: state-owned banks increased assets by 17%, led by Aloqabank (39%) and Mikrokreditbank (36%). Private banks posted a stronger 28% rise, with newcomers like Hayot Bank (419%), Smart Bank (233%) and Yangi Bank (223%) expanding rapidly.

Drops in Liquidity, Asset Quality and Profitability

Not all movement was positive. In liquidity, Agrobank dropped three positions to last place, while Anor Bank fell five. Even top performers like Kapitalbank and Trastbank lost ground here.

In profitability, Agrobank ranked last, and Tenge Bank and Anor Bank both dropped two spots. Ipoteka Bank, Davr Bank and Asaka Bank also saw setbacks in asset quality and financial inclusion, due to weaker lending and higher non-performing loans.

Management efficiency remains a concern for Mikrokreditbank, which continued to rank lowest in this category.

Small Banks Show Stability, but Yangi Bank Falls

bank ratings
The Image reflects ratings of 15 smaller banks. Image: CERR

Among smaller banks, Universal Bank, Hayot Bank, TBC Bank and Oktobank remained in the top four. Madad Invest Bank rose three places, showing the strongest improvement.

However, performance weakened for one-third of small banks. Yangi Bank, despite strong asset growth, posted the sharpest decline in operational indicators.

The second-quarter data highlights intensifying competition across Uzbekistan’s banking sector. The CERR notes that regular monitoring of these indicators is essential to understanding the sector’s transformation and resilience.

Kursiv also reports that as of June 1, 2025, over 5 mln citizens of Uzbekistan had at least one outstanding loan.

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