The Central Bank of Uzbekistan expects consumer lending growth to remain high (around 30%) in 2026, despite high interest rates. The main drivers of demand are rising household incomes and the realization of pent-up demand for mortgages, car loans, and microloans, Tashkent Today reported.
According to the Central Bank, the volume of loans to individuals increased by 51% in 2025, reaching 157 trillion soums. Central Bank Governor Timur Ishmetov emphasized that the priority is not limiting loan issuance, but rather monitoring the quality of debt to prevent individuals from becoming over-indebted.
This year, it is planned to pass laws to restrict the accrual of fines and increased interest rates for borrowers in difficult financial situations. In the medium term (3–4 years), the segment is expected to normalize and the growth rate of retail loans to equalize with other sectors of the economy.
