Another new banking activity is being launched in Uzbekistan

Today, May 5, the Central Bank granted another bank a license to start operating. This was reported by the bank's press service. The board of the Central Bank of Uzbekistan decided to register the New Bank joint-stock company in Tashkent and grant it a license to carry out banking activities. Earlier, it was announced that two new banking activities will be launched in Uzbekistan. On March 17 of this year, 2 banks - "Apex Bank" and "Hayot Bank" joint stock company were granted a license to start their activities. In the last 5 years, competition in the banking system of Uzbekistan has been increasing in terms of assets, loans, and deposits. The share of the top-5 largest banks with a state share (Uzmilli Bank, Sanoatkurilishbank, Asaka Bank, Ipoteka Bank, Agrobank) in the assets of the banking system decreased from 70.9 percent to 60.5 percent. The share of other state-owned banks increased from 11% to 18%, while the share of private banks increased from 18.1% to 21.5%. By 2025, it is planned to increase the share of assets of non-state-owned banks in the total assets of the banking system to 60 percent. During this period, Tenge bank, TBC bank, "Anorbank", Uzum (Apelsin) bank and Poytakht bank entered the banking system. The share of these banks in total assets reached 1.8%.