Uzbekistan’s Bank NPL Volume Drops to Nearly 2 Bn in June

The total volume of non-performing loans (NPL) in Uzbekistan’s banks stood at UZS 23.5 trillion ($1.9 bn) as of June 1, 2025, according to data from the Central Bank of Uzbekistan. The month prior, the figure was slightly higher at UZS 23.6 trillion ($1.91 bn).

Out of the total, UZS 15.7 trillion ($1.27 bn) were held by state-owned banks, while UZS 7.7 trillion ($622.6 mln) were with private banks.

Among state banks, National Bank of Uzbekistan reported the highest NPL volume — over UZS 3.2 trillion ($258.6 mln). Agrobank and Uzpromstroybank followed with UZS 2.9 trillion ($ 234.4 mln) and UZS 2.5 trillion ($202 mln), respectively.

Among private banks, Ipoteka Bank led with UZS 3.3 trillion ($266.7 mln) in NPLs, followed by Kapitalbank with UZS 1.8 trillion ($145.5 mln). Other banks reported figures ranging from UZS 10 billion ($0.8 mln) to UZS 381 billion ($30.8 mln).

Earlier this year, analysts at Fitch Ratings identified high NPL volumes and reliance on external funding as the main risks facing Uzbekistan’s banking sector. However, they also noted a steady decline in dollarisation across the system.

Fitch warned that worsening asset quality, particularly in state-owned banks, could negatively affect future development.

Previously, Kursiv Uzbekistan reported that the IMF had recommended restarting bank privatisation in Uzbekistan.