Uzbekistan’s Banking Sector Records 40.3% Growth in Net Profit

Commercial banks in Uzbekistan recorded combined net profits of approximately UZS 15.3 trillion, representing a 40.3% increase. Separately, state-owned energy company Uzbekneftegaz began negotiations to refinance US$1.1 billion in loans, targeting a reduction in its average interest rate from 7.7% to 3.8%.

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