The Uzbekistan Stock Exchange has completed major REPO operations related to corporate bonds issued by JSC KRIU, totaling 65.5 billion sums.
The Uzbekistan Stock Exchange has completed major REPO operations related to corporate bonds issued by JSC KRIU, totaling 65.5 billion sums.
According to the exchange's data, these deals are aimed at increasing liquidity in the bond market, boosting the turnover of financial funds, and expanding short-term financing opportunities for market participants.
These operations are part of measures stipulated by the Presidential Decree 'On Additional Measures for the Further Development of the Housing and Mortgage Market' (No. UP-26) dated February 21, 2025. This decree provides for the issuance and trading of mortgage bonds through the stock exchange on the secondary market.
The REPO deals concerning JSC KRIU bonds were conducted on July 6 of this year for a total amount of 65.5 billion sums. The Exchange noted that these transactions indicate growing investor interest in JSC KRIU bonds and demonstrate the effectiveness of the Uzbekistan Stock Exchange's trading infrastructure in conducting REPO operations.
The Exchange added that it plans to continue developing modern financial instruments, improving liquidity in both the corporate and mortgage bond markets, and expanding opportunities for participants in the capital market of Uzbekistan.
According to data on the efficiency of the banking sector, the total assets of commercial banks in Uzbekistan reached 1,005.8 trillion soums as of July 1, 2026. This figure demonstrates an 18% growth compared to 852.2 trillion soums recorded on the same day in 2025.
During the reporting period, the banks' loan portfolio increased by 12%, amounting to 642.8 trillion soums. Deposits showed a more significant growth—33%, reaching 473.8 trillion soums, while total capital grew by 19% to 148.9 trillion soums.
The asset structure underwent changes: the share of foreign currency in total assets decreased from 40% to 35%, and in loans—from 42% to 39%, and in deposits—from 24% to 19%. The increase in the share of figures denominated in soums relative to foreign currency data indicates the activation of operations in the national currency.
State banks maintain a dominant position in the financial system, controlling 62% of assets, 66% of loans, 58% of capital, and 52% of deposits. The National Bank of Uzbekistan (NBU) remains the country's largest bank with assets of 146.5 trillion soums, accounting for 15% of the market. It is followed by Agrobank with 118.4 trillion soums (12%) and Uzpromstroybank with 108.5 trillion soums (11%).
Among the other banks, Asaka Bank leads in assets with 62.5 trillion soums, followed by Xalq Bank (57.8 trillion soums), Business Development Bank (41.2 trillion soums), Aloqabank (36.7 trillion soums), Microcreditbank (34.4 trillion soums), and Turon Bank (22 trillion soums). Among non-state-owned banks, Kapitalbank leads with assets of 62.7 trillion soums, followed by Ipoteka-bank with 56.7 trillion soums.
Kapitalbank ranks third in terms of deposit volume in the country, having collected 47.3 trillion soums, trailing only NBU and Agrobank. Octobank, with relatively modest assets of 16.5 trillion soums, holds deposits of 14.8 trillion soums, which almost covers its entire balance and indicates a deposit-oriented business model.
Retail clients remain the segment with the largest volume of borrowers. Lending to individuals grew by 20%, increasing from 196.9 trillion to 235.9 trillion soums, raising their share in the total loan portfolio from 34% to 37%, making it the largest borrower category. Industrial lending decreased by 13%, falling from 157.6 trillion to 137.6 trillion soums, and the industry's share dropped from 27% to 21%. Industry became the only major sector to record an absolute decrease, alongside housing construction and utilities, which fell by 8% to 1.9 trillion soums.
Lending in trade and public services increased by 23%, reaching 49.3 trillion soums. Construction showed a growth of 37%, amounting to 20.9 trillion soums, while agriculture grew by 14% to 66.3 trillion soums. The 'other sectors' category increased by 36%, reaching 92.4 trillion soums. Lending to transport and communications remained virtually unchanged, showing only a 1% growth to 33.9 trillion soums.
Of the total loan portfolio of 642.8 trillion soums as of July 1, 2026, retail loans accounted for 235.9 trillion soums (37%), while corporate loans made up 406.9 trillion soums (63%). Ipoteka-bank became the largest lender to retail clients, issuing individual loans totaling 29.5 trillion soums, and Xalq Bank took second place with 25.5 trillion soums. NBU continues to be the largest corporate lender, providing 83.6 trillion soums in loans to legal entities.
Regarding deposits, Kapitalbank leads in retail deposits with an amount of 28.1 trillion soums, higher than any other bank in the country, including the largest state institutions. NBU is the largest holder of corporate deposits, accumulating 39.4 trillion soums.
According to a review by the Central Bank of the domestic foreign currency market, international money transfers to Uzbekistan amounted to $9.3 billion USD for the period from January to June 2026.
This figure showed a 13% increase compared to the same period in 2025, when the inflow was $8.2 billion. Furthermore, it exceeded the level of the first half of 2024, which reached $6.5 billion, by 44%.
During the reporting period, outflows through international money transfers amounted to $1.3 billion USD. This volume remained virtually unchanged over the last three years, comparing to $1.25 billion in 2024 and $1.23 billion in 2025.
As a result of this data, the positive balance of cash flows reached $8 billion, an increase compared to $7 billion the previous year.
The Central Bank noted that the inflow of remittances has become one of the most important factors ensuring the stability of the domestic foreign currency market. Together with the increase in export revenues and the growth in foreign currency sales by households, these factors contributed to the supply of foreign currency growing faster than demand, helping to maintain the stability of the national currency.
As of the end of June, the exchange rate was 12,009 soms per one USD, which has not changed since the beginning of the year.
