According to the analysis, the net income earned by banks in 2020 amounted to 5,642 billion soums, which is 20.5 percent more than in 2019.

According to the @bankvamoliya channel (Banks and Finance), referring to the data of commercial banks, among the banks that received the most net income were the National Bank for Foreign Economic Activity of Uzbekistan (905 billion UZS), Uzbek Industrial and Construction Bank (798 billion UZS), People’s Bank (505 billion UZS) and Ipoteka Bank (483 billion UZS).

The least net income was received by UzAgroExportBank (3 billion UZS) and Hi-Tech Bank (2 billion UZS).

The TBC Bank resulted in 2020 with a loss of 22 billion UZS.

Microcreditbank in comparison with 2019 increased its net profit 15 times, People’s Bank – 5 times, Poytakht Bank, and Asakabank – 2 times.

The Hi-Tech Bank has sharply reduced its net profit by 80 percent, Ravnaq-Bank by 65 percent, and Turkiston Bank by 55 percent.

In general, 19 banks showed results below 20 percent of the growth of the banking system, of which 9 banks earned less money.

The financial results of most commercial banks are unsatisfactory compared to previous years. Due to the pandemic, most commercial banks faced financial difficulties due to the deteriorating financial condition of clients and delayed profit on loans, which negatively affected the activities of banks, especially private ones.

UzA