How did Uzbekistan's commercial banks conclude the year 2024?

Bankers.uz published a report on the financial indicators of Uzbekistan's commercial banks for 2024. Throughout the year, some banks improved their income indicators, while others faced negative results. Below are the key details:

Banks with increased income:

• Hamkor Bank: Income increased by 18.9%, reaching 1,426.6 billion soums.
• SQB (Industrial Construction Bank): With a 42.9% growth, income reached 1,303.2 billion soums.
• Ipak Yo‘li Bank: Income increased by 23%, reaching 910.5 billion soums.
• TBC Bank: Income showed a record growth of 744.6%, amounting to 40.2 billion soums.
• Ziraat Bank: Income increased by 32.4%, totaling 79.5 billion soums.

Banks that incurred losses:

• Kapitalbank: Income decreased by 291 billion soums.
• Aloqabank: Income fell by 46.7%, dropping to 190 billion soums.
• Ipoteka Bank: Reported a loss of -240.2 billion soums with a 129.3% decline.
• AVO Bank: Resulted in a loss of -93.3 billion soums with a 236.4% decrease.
• Garant Bank: Reported a negative result with a loss of -64.3 billion soums.

Significant changes:

• BRB Bank: Showed the largest income growth of 1045.2%, recording a profit of 236 billion soums.
• MKB Bank: Experienced a record decline of 4245%, resulting in a loss of -1,703.8 billion soums.

Overall indicators:

Compared to 2023, the total income of commercial banks in 2024 decreased from 12,380 billion soums to 6,965.8 billion soums, indicating a 43.7% decline.

Conclusion

While some banks achieved financial stability, others reported negative results. This data indicates that banks need to reconsider their strategies and improve their operations in the future.