According to data from the Central Bank of Uzbekistan, the total assets of microfinance organizations in Uzbekistan reached 20.8 trillion soums as of September 1, 2026. This figure more than doubled compared to the level of 9.7 trillion soums a year earlier.
Asset growth amounted to 114.3% year-on-year, which was mainly driven by the expansion of lending. Loans and micro-leasing continued to constitute the largest share of assets, with their net value increasing by 106%, rising from 8.8 trillion to 18.1 trillion soums. Nevertheless, the share of loans in the total asset volume decreased from 90.6% to 87.1%.
Funds of microfinance organizations placed in bank accounts increased more than fourfold—from 304.1 billion to 1.3 trillion soums. Furthermore, the capital base of the sector strengthened: total capital grew by 56.6%, reaching 4.4 trillion soums from the previous 2.8 trillion soums. Profit for the current year increased by 133.4%, and retained earnings increased by 80.5%.
Liabilities grew faster than assets, increasing by 138.1% from 6.9 trillion to 16.3 trillion soums. Among liabilities, loans, borrowings, and lease payments accounted for 80.1% of the total volume, equivalent to 13.1 trillion soums.
Market structure and key players
As of September 1, 138 microfinance organizations were operating in Uzbekistan. The market maintains a high degree of concentration, as five largest participants account for about 62% of the sector's total assets.
The largest microfinance organization became TEZCOIN, whose assets increased threefold—from 2.39 trillion to 7.64 trillion soums. This company accounted for almost 37% of the sector's total assets, and its net loan portfolio grew from 2.31 trillion to 6.97 trillion soums.
Shaffof-Moliya is in second place with assets of 1.78 trillion soums, representing a year-on-year growth of 4.3%. TBC Credit took third place after increasing its assets from 1.9 billion to 1.48 trillion soums over the year. Fortuna Biznes with assets of 1.2 trillion soums (a 15.7% increase) and Vodiy Taraqqiyot with 675.6 billion soums (a 2.8% increase) also made it into the top five.
Among significant market participants, Korona showed the fastest growth in assets, which rose from 5.7 billion to 527.4 billion soums; Agat Credit, whose assets increased 2.5 times to 441.3 billion soums; and Oltin Yulduz Plus, whose assets grew 3.1 times to 412 billion soums. At the same time, Hamroh's assets decreased by 13.2% to 335.3 billion soums, and Pulman's fell by 25.6% to 132.4 billion soums.