Tashkent, Uzbekistan (UzDaily.com) -- The Center for Economic Research and Reforms has updated the rating of the most active banks. The leaders in the II quarter of this year became "Kapitalbank", "Hamkorbank" and "Trustbank", two foreign banks showed rapid growth, and some banks like "Aloqabank" and "Microcreditbank" worsened their positions.

The Center for Economic Research and Reforms (CERR) has developed a "Bank Activity Index" for 31 commercial banks in Uzbekistan. On the basis of the CERI Index, the rating of banks is updated on a quarterly basis.

The study is conducted with the aim of monitoring changes in the share of the private sector in banking assets, as well as assessing the effectiveness of reforms and transformation processes in the country's banking sector.

As of 1 June 2021, the assets of the banking system of Uzbekistan amounted to 395 trillion soums (growth by 1 June 2020 amounted to 27.5%), liabilities - 333.6 trillion soums (an increase of 30.6%), total capital - 61.5 trillion soums (growth 13.1%). Currently the banking system employs over 56 thousand people.

Banks are divided into two groups - large and small. The rating was compiled separately for each of the groups.

Among 17 large banks, Kapitalbank still retains its leadership, having held it since the 1st quarter of 2020.

Kapitalbank consolidated its position in the overall rating and once again showed the highest results in the field of financial intermediation and asset quality. In particular, the ratio of the bank's term deposits to the total amount of loans by 1 March 2021 amounted to 84%.

Hamkorbank moved up 2 positions in the overall rating compared to the first quarter of 2021 and took 2nd place in the rating. This was facilitated by the bank's improved financial intermediation, asset quality and management efficiency.

Trustbank lost one point, taking 3rd place in the overall rating. At the same time, this bank remains one of the leading banks in terms of capital adequacy, profitability and liquidity.

Among the largest banks with state shares, Aloqabank dropped 3 positions to 6th. The main reason was the increase in the share of the bank's non-performing loans and the volume of reserves for possible losses. Nevertheless, this bank is among the top five banks in terms of financial intermediation and capital adequacy.

Asia Alliance Bank and Microcreditbank each lost 4 points in the rating and took 9th and 12th places, respectively.

The three leaders in the overall rating of activity of 14 small banks of Uzbekistan in the 1st quarter of this year headed by "Davrbank", "Universalbank" and "Ziraatbank" respectively.

According to the CERR methodology, management performance indicators are based solely on quantitative measurement and are calculated as net profit / loss divided by the number of employees in the bank. It should be noted that TBC Bank and Anor Bank began their activities in the IV quarter of 2020 and are currently in the process of formation. Thus, operating costs are expected to remain at a high level until banks are fully adapted to the market.