STRUCTURAL TRANSFORMATION AND PRUDENTIAL RESILIENCE OF THE BANKING SECTOR OF UZBEKISTAN
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https://doi.org/10.5281/zenodo.21298492##semicolon##
commercial banks, economic security of banks, banking sector, financial stability, prudential buffers, Basel III, state ownership, credit growth, capital adequacy, liquidity.##article.abstract##
The article examines the financial stability of Uzbekistan’s commercial banking sector through
the dual lens of structural transformation and prudential resilience during 2022–2025. The study documents
a significant decline in state ownership: the share of state-owned banks in total sector assets decreased from
approximately 85% in 2020 to 63.5% by the end of 2025, while their share in total loans declined from 88% to
67%. At the same time, the banking sector experienced rapid balance-sheet expansion. Against this backdrop,
the sector’s capital and liquidity buffers are assessed using Basel III–aligned indicators. The findings suggest
that the existing capital and liquidity buffers currently provide adequate coverage for risks associated with
rapid credit growth and changes in ownership structure. However, the study emphasizes the importance of
strengthening asset-quality monitoring as the credit cycle continues to evolve.
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