Uzbek consumer debt hits 239.8 trillion soums as microloans dominate

September 28, 2026 at 05:09 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Uzbek banks' total outstanding loans to individuals reached 239.8 trillion soums (about $20 billion) as of August 1, 2026, up 18.8 percent from a year earlier. Microloans and microcredits account for over 40 percent of the retail portfolio, while auto loans make up 17 percent. The debt stock has grown sixfold since January 2020, when it stood at 39.9 trillion soums.

Key Facts

Outstanding bank loans to individuals in Uzbekistan reached 239.8 trillion soums as of August 1, 2026, up 18.8 percent year-on-year.
The retail loan portfolio has grown sixfold since January 1, 2020, when it stood at 39.9 trillion soums.
Microloans and microcredits account for more than 40 percent of the total retail debt portfolio.
Auto loans represent 17 percent of the portfolio, with over 40 trillion soums directed to vehicle financing.
The sharpest annual increase occurred in 2023, when the debt stock rose by 48 trillion soums, or 47 percent.

Debt Growth

The total outstanding balance of bank loans to individuals reached 239.8 trillion soums as of August 1, 2026. This figure is 18.8 percent higher than the same date a year earlier. On January 1, 2020, the retail loan balance was 39.9 trillion soums, meaning the portfolio has expanded sixfold in just over six years. The steepest single-year jump came in 2023, when the outstanding amount rose by 48 trillion soums, or 47 percent.

Loan Composition

Microloans and microcredits account for more than 40 percent of the total retail debt portfolio. These loans typically carry high interest rates and are often not tied to a tangible asset. Auto loans make up 17 percent of the portfolio, with over 40 trillion soums allocated to vehicle purchases. Under standard financial principles, a car is a depreciating asset, and the scale of auto lending indicates that purchasing power is being sustained through long-term debt rather than rising fundamental wealth.