How much do Uzbek banks lend, relative to the economy?

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Credit to the private sector is 31.2% of GDP, and it has not moved in three years. 31.2% Bank credit to the private sector as a share of GDP in 2025. 8.3% In 2013 so it roughly quadrupled over a decade before flattening. 11.7% Loan growth in the year to 1 July 2026 against 33.2% for deposits. 23.1% Average lending rate the price of the credit that does get extended. This is the single most useful number on the Uzbek banking system for a foreign founder, because it explains the rest. A financial system lending about a third of GDP is a shallow one: it can hold your money, move it and pay your suppliers, and it is not a realistic source of working capital for a young foreign-owned company. Budget the first years on shareholder funding and treat any local facility as upside. The flattening matters as much as the level. Credit stopped growing as a share of the economy in 2023 while GDP kept compounding at around 7% a year — demand has been running ahead of the local capacity to finance it.

How much do Uzbek banks lend, relative to the economy?

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