The key facts

  • Combined net profit of banks for the first nine months of 2026 — 15.26 trillion soums, up 40.3% year on year
  • Ipoteka Bank accounted for 44.9% of the entire profit growth of the system (1.97 trillion soums)
  • Excluding Ipoteka Bank, the profit of the remaining banks grew by 22.4%; Microcreditbank and TBC Bank posted losses

Record nine months for the banking sector

The combined net profit of Uzbekistan's commercial banks for January–September 2026 amounted to 15.26 trillion soums, up 40.3% compared with the same period last year, when the figure stood at 10.87 trillion soums. This is reported by Spot.uz citing banks' reporting data. In nine months, the sector has already earned 98.5% of all the profit received over the whole of last year. By the time of publication, almost all banks had disclosed their financial statements on the Unified Portal of Corporate Information.

One bank drove much of the growth

The outlet Bankers.uz draws attention to the unevenness of the growth: the net profit of Ipoteka Bank increased by 1.97 trillion soums over the year, which accounts for 44.9% of the entire increase across the system. Excluding this bank, the profit of the remaining banks grew by 22.4%. Spot.uz also notes that many local banks are state-owned and operate as development institutions rather than purely commercial organizations, so substantial state support makes it difficult to objectively assess their profitability under market conditions.

Who earned the most

Five banks earned more than 1 trillion soums in profit: Ipoteka Bank — 2.07 trillion, the National Bank of Uzbekistan — 1.55 trillion, Hamkorbank — 1.48 trillion, Kapitalbank — 1.31 trillion, and Uzpromstroybank — 1.2 trillion soums. In the range from 500 billion to 1 trillion soums were seven banks: NBU's People's Bank (837.3 billion), Ipak Yuli Bank (821.7 billion), Trustbank (766.8 billion), Orient Finance Bank (724.6 billion), KDB Bank Uzbekistan (644.6 billion), Davr Bank (566.3 billion) and InfinBank (530.6 billion). Another ten banks earned between 100 and 500 billion soums — from Uzum Bank (484.9 billion) to ANORBANK (104.5 billion).

The middle and bottom of the table, as well as loss-makers

Six banks posted profit of 10 to 100 billion soums: Ziraat Bank (89.1 billion), Hayot Bank (42.3 billion), Tenge Bank (35.1 billion), Turonbank (34 billion), Saderat Bank (32.7 billion) and Garant Bank (20.5 billion). Four banks earned less than 10 billion soums: mybank, formerly Madad Invest Bank (7.8 billion), Poytakht Bank (2.6 billion), Open Bank (1.25 billion) and AVO bank (454.7 million soums). Two banks remained loss-making over the nine months: Microcreditbank with a loss of 50.4 billion soums and TBC Bank with a loss of 69.6 billion soums.