Uzbekistan plans to privatise five state-owned banks under the updated Uzbekistan–2030 strategy published for public discussion. The reform is aimed at reducing the government’s role in the banking sector and increasing market competition.
The state currently owns nine banks, including the National Bank of Uzbekistan, Agrobank, Uzpromstroybank and Asakabank. In 2026 the number of state-owned banks will drop to eight. By 2030 the government plans to retain ownership of only four banks. This means that at least one bank is expected to be privatised each year. A previous version of the strategy adopted in 2023 allowed for three to four banks to remain under state control.
Another...