As previously reported by Spot, the Central Bank of Uzbekistan has designated 7 credit institutions as systemically important.
The list was approved by the regulator in November. It includes five state-owned and two private banks, which held 67% of all assets in the country's banking system as of October 1.
As of 2025, the systemically important banks are "Agrobank," "Asakabank," "Ipoteka-bank," "Kapitalbank," the People's Bank, the National Bank of Uzbekistan, and "Uzpromstroybank."
According to the regulation approved by the Central Bank in February 2023, the following criteria are used to determine a bank's systemic importance:
- the volume of assets and liabilities;
- interconnectedness with other participants in the banking system;
- scope of the bank's operations;
- complexity of banking operations.
Earlier, Spot published a ranking of banks based on profitability at the end of the third quarter of 2024.
The term “systemically important banks” in the legislation of various countries is used to refer to institutions that hold a significant market share, whose bankruptcy could lead to instability in the financial system as a whole. In Russia, 13 banks are considered systemically important (including VTB, Gazprombank, Sberbank, and T-Bank).