Tashkent, Uzbekistan (UzDaily.com) — Over the course of five months, the total loan portfolio of microfinance organizations (MFOs) in Uzbekistan grew from 7.5 trillion to 9.1 trillion soums, according to data from the Central Bank.

The largest market player remains the microfinance organization “TezCoin,” with a portfolio of approximately 2.2 trillion soums.

Following are “Shaffof-Moliya” with nearly 2.1 trillion soums (a 33% increase compared to the same period last year) and “Fortuna Business,” whose loans amounted to 1 trillion soums (a 5% growth).

At the same time, there has been an increase in the share of non-performing loans (NPLs) in the sector. While the NPL ratio stood at 2.4% at the beginning of the year, it rose to 4.0% by June. In absolute terms, the volume of such loans increased from 181 billion to 365.2 billion soums.

Among the organizations with the highest share of problematic loans, the MFO “Gijduvon” leads with an NPL ratio of 35.5%. High levels of non-performing loans were also recorded at companies such as “Creditomat Tashkent” (33.7%), “Istikbol Invest Group” (32.2%), “Chust RIR” (31.5%), “Kafolat Credit” (28.6%), and “Lime” (28.5%).

As of early June 2025, there were 118 microfinance organizations operating in Uzbekistan, up from 100 at the beginning of the year.