Microfinance Institutions: Asset Growth Driven by Expanding Lending Activity

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▪️ As of 1 September 2026, the total assets of microfinance institutions reached UZS 20.8 trillion, compared with UZS 9.7 trillion in the same period last year. This represents year-on-year growth of 114.3%.

✅ Loans and microleasing account for the largest share of total assets. Their net balance increased by 106%, from UZS 8.8 trillion to UZS 18.1 trillion. However, their share of total assets declined from 90.6% to 87.1%. Funds held with banks also rose more than fourfold, from UZS 304.1 billion to UZS 1.3 trillion.

✅ The sector's capital base also expanded. Total capital grew by 56.6%, from UZS 2.8 trillion to UZS 4.4 trillion. Retained earnings increased by 80.5%, while profit for the current year rose by 133.4%.

✅ Total liabilities increased by 138.1%, from UZS 6.9 trillion to UZS 16.3 trillion. Loans, borrowings and lease obligations accounted for 80.1% of total liabilities, amounting to UZS 13.1 trillion.

Overall, these figures point to the rapid expansion of the microfinance sector. Growth in the asset base and capital, more than doubling of lending volumes, and shifts in the composition of funding sources are among the key trends shaping the sector's development.