Uzbek Bank Deposits Surge by 33% as Internal Financing Strengthens
The total volume of deposits in Uzbekistan’s banking sector reached 460.6 trln soums ($38.34 bn) by the beginning of June this year. According to the Central Bank of the Republic this marks an annual growth rate of 33%.
While lending has also expanded over the past year the pace of credit growth has notably lagged behind the rapid accumulation of deposits. The total volume of issued credits grew from 567.7 trln soums ($47.26 bn) to 636 trln soums ($52.94 bn).
Because deposit volumes are growing at a much faster rate the overall ratio of credits to deposits across the national banking sector has decreased from 164% down to 138%.
«This means that lending in the banking system is increasingly funded by internal resources— deposits,» the national regulator noted.
Sector breakdown and total assets
This positive trend toward domestic self-reliance is visible across different tiers of the financial sector.
| Banking Sector | Previous Credit-to-Deposit Ratio | Current Credit-to-Deposit Ratio |
| State-owned banks | 219% | 176% |
| Private banks | 106% | 97% |
Beyond the strong performance in deposits and lending the Central Bank also reported healthy overall capital expansion. By early June total banking assets in Uzbekistan had reached 984.4 trln soums, which translates to roughly $81.94 bn. This represents a solid 18.6% year-on-year increase, reflecting continued economic development and deepening financial stability within the country.
