Uzbek Commercial Banks Report Significant Deposit Totals for First Eight Months of 2024

Tashkent—Uzbekistan's commercial banks have reported a total deposit volume of 283.1 trillion soums ($22.1 billion) as of September 1, 2024, reflecting robust banking activity within the country's financial sector. The data indicates a balanced distribution of deposits between state-owned and other banks, highlighting the sustained growth in financial deposits throughout the year.

According to Trend News Agency, data from the Central Bank of Uzbekistan shows that state-owned banks accounted for 142.3 trillion soums ($11.1 billion) of the total deposits, while deposits in other banks amounted to 140.8 trillion soums ($11 billion). Among the state-owned banks, the National Bank of Uzbekistan led with deposits totaling 35.9 trillion soums ($2.8 billion). Xalq Bank and Aqrobank followed with 21.7 trillion soums ($1.69 billion) and 18.5 trillion soums ($1.44 billion), respectively.

In the private sector, Kapitalbank held the highest deposit volume with 34.2 trillion soums ($2.67 billion). Ipoteka Bank and Hamkor Bank were significant contributors as well, with deposits of 21.5 trillion soums ($1.68 billion) and 10.7 trillion soums ($836.3 million), respectively.

Comparatively, total deposits from January through July 2024 stood at 275.4 trillion soums ($21.7 billion), with state-owned banks and other banks nearly equally sharing the deposit volume. This earlier period saw state-owned banks holding 137.7 trillion soums ($10.89 billion), while other banks had slightly less, at 137.6 trillion soums ($10.88 billion).