The Central Bank of the Republic of Uzbekistan has prepared a detailed review of the volume and growth trends of microfinancial services provided during Q1–Q3 2025.
During Q1–Q3 2025, the total volume of microfinancial services provided by credit organizations reached 104 trln UZS (+46.7 trln UZS), representing growth of 1.8 times compared to the corresponding period of 2024.
As a result, the share of microfinancial services provided by credit organizations in total loans during Q1 - Q3 of 2025 grew by 7 percentage points compared to the corresponding period of 2024 and amounted to 34,2%.
Banks remain the key drivers, providing 79.5% of microfinancial services during this period. The remaining share was distributed between MFOs (18.5%) and pawnshops (2%). The volume of microfinancial services provided by private banks doubled over the past year, reaching 57 trln UZS, while state-owned banks saw growth of 40%, reaching 25.7 trln UZS.
Among private banks, TBC Bank, Ipoteka Bank and Anorbank showed the highest growth rates, while Agrobank, NBU and Xalq banki led growth among state-owned banks.
MFOs issued microfinancial services worth 19trln UZS (73% of this is distributed among TezCoin, Shaffof-moliya & Fortuna Biznes), whereas issuance by pawnshops reached 2trln UZS, with “Oltin” pawnshop remaining the key player.
During this period, microloans dominated by products, standing at 83 trln UZS (80% of total, + 6 percentage points), with an increase of 2 times, while issuance of microcredits stood at 21 trln UZS.
By maturity, 78 percent of microfinancial services are classified as long-term, while 22 percent are short-term. The volume of long-term microfinancial services amounts to 81.1 trln UZS, and the volume of short-term microfinancial services reached 22.9 trln UZS.
Microfinancial services worth 103,5 trln UZS (99,5% of the total) were provided in national currency while foreign currency-denominated microfinancial services accounted for 500 bln UZS (0,5% of the total).
In regional terms, Tashkent city leads the market with 64% of total microfinancial services. The highest growth rates were observed in Tashkent city (2,3 times) alongside Kashkadarya and Khorezm regions.
You can access the full review via the following link.
