Financial Results of Uzbekistan’s Commercial Banks for 2024

Bankers.uz has published the financial results of Uzbekistan’s commercial banks for 2024. While some banks achieved significant growth in revenues, others reported negative financial results. Below are the key indicators:

Banks with Revenue Growth:

• Humo Hamkor Bank: Revenue grew by 18.9% to reach 1,426.6 billion UZS.
• SQB (Sanoat Qurilish Bank): Revenue increased by 42.9% to 1,303.2 billion UZS.
• Ipak Yo‘li Bank: Revenue rose by 23%, totaling 910.5 billion UZS.
• TBC Bank: Recorded an impressive growth of 744.6%, with revenue reaching 40.2 billion UZS.
• Ziraat Bank: Revenue increased by 32.4%, totaling 79.5 billion UZS.

Banks with Losses:

• Kapitalbank: Revenue decreased by 291 billion UZS.
• Aloqabank: Revenue dropped by 46.7%, totaling 190 billion UZS.
• Ipoteka Bank: Losses amounted to 129.3%, with revenue falling to -240.2 billion UZS.
• AVO Bank: Losses totaled 236.4%, with a final result of -93.3 billion UZS.
• Garant Bank: Registered losses of -64.3 billion UZS.

Significant Changes:

• BRB Bank recorded the highest growth of 1045.2%, with revenue reaching 236 billion UZS.
• MKB Bank posted a record decline of 4245%, with losses of -1,703.8 billion UZS.

Overall Results:

Compared to 2023, the total revenue of commercial banks decreased from 12,380 billion UZS to 6,965.8 billion UZS, representing a 43.7% decline.

Conclusion

The analysis shows that Uzbekistan’s commercial banks experienced varied financial results in 2024, depending on economic conditions and competition. While some banks achieved stable growth, others faced financial losses. These figures underline the need for a strategic review to strengthen their positions in the financial sector.