BAKU, Azerbaijan, June 29
By Klavdiya Romakayeva - Trend:
Net profit of Uzbek banks during the period from June 2020 to the present day increased by 5.6 percent, Trend reports with reference to the Central Bank of Uzbekistan (CBU).
According to the CBU, in total, Uzbek banks were able to earn 2.3 trillion soums ($217 million) for the year, although last year revenue was 2.1 trillion soums ($198 million).
It is reported that interest income became the largest in the sector amounting to 18.3 trillion soums ($1.7 billion), while expenses accounted for 11.7 trillion soums ($1.1 billion).
At the same time, non-interest income amounted to 3.1 trillion soums ($293 million), although last year this figure was only 812 billion soums ($76.7 million).
Earlier it was reported that banks of Uzbekistan earned 5.6 trillion soums ($529 million) of net profit in 2020, which is 20.5 percent more than a year earlier.
It was also noted that the banking sector in 2020 as a whole received 37.06 trillion soums ($3.5 billion) of the interest income (an increase of 45.3 percent). Expenditures in this category formed at the level of 23.03 trillion ($2.2 billion), which is 47.5 percent higher than a year earlier.
In addition, the National Bank for Foreign Economic Affairs of Uzbekistan in 2020 earned 905.41 billion soums ($86 million) of net profit, which is 13.24 percent less than a year earlier ($100 million). It was noted that despite the decrease, this financial institution accounts for 16 percent of the total net profit of banks.
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