In 2018-2020, the number of credit institutions reached 55, including 4 commercial banks (Poytakht Bank, Tenge Bank, TBC Bank, Anor Bank), 33 microcredit organizations and 18 pawnshops.
As of January 1, 2021, the assets of commercial banks amounted to 366.1 trillion soums and increased by 120% compared to 2017. The average annual real growth (excluding devaluation) during this period was 24.1%.
As a result of the liberalization of monetary policy, the level of dollarization in the banking sector has decreased significantly. In particular, in 2017 the share of foreign currency assets of banks in total assets was 64%, in 2020 this figure decreased to 50.2%. The share of foreign currency loans decreased from 62.3% to 49.9% and the share of foreign currency deposits decreased from 48.4% to 43.1%.
Real growth of loans averaged 38.6% per year. As of January 1, 2021, the total volume of loans which was issued to the economy amounted to 277 trillion soums and increased by 150% compared to 2017.
The average annual real growth rate of deposits for this period was 18.5%.
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