The updated draft “Uzbekistan – 2030” strategy sets out plans to privatize five state-owned banks in the country by 2030. The document has been published for public discussion.
According to the plan, the sale of one out of nine state banks is expected already this year. Economist Otabek Bakirov noted the likelihood that one of the smaller banks—Aloqabank or Turonbank—could be privatized in 2026.
It was also reported that the European Bank for Reconstruction and Development may purchase 15% of Asakabank shares in 2026. This step is seen as part of preparing the bank for privatization.
By early 2026, nine state banks will operate in Uzbekistan: NBU, Agrobank, O‘zpromstroybank, Asakabank, Xalq banki, Business Development Bank, Mikrokreditbank, Aloqabank, and Turonbank.
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