BAKU, Azerbaijan, July 29. Uzbekistan's
Alokabank reported a 21.4% year-on-year increase in net profit for
the first half of 2026, supported by continued expansion of its
lending portfolio.


This was reflected in the statement by the KAP DEPO.


According to the bank's financial results, net profit reached
252 billion soums (about $20.7 million) in January–June, compared
with the same period last year.


At the same time, the bank's profit over the trailing 12 months
increased at a more moderate pace of 2.8%, reaching 295.9 billion
soums (around $24.3 million). Alokabank also continued to expand
its lending activity. As of June 1, its loan portfolio stood at
21.1 trillion soums (approx. $1.7 billion), up 41.9% from a year
earlier, reflecting sustained demand for financing across the
economy.







The bank's asset quality, however, weakened slightly during the
reporting period. The share of non-performing loans (NPLs) rose to
3.5%, compared with 2.7% a year earlier. Despite the increase, the
NPL ratio remains below levels considered elevated for the banking
sector, indicating that the bank continues to maintain relatively
sound credit quality while expanding lending.


According to Trend's analysis, Alokabank's first-half results
highlight the trade-off increasingly facing Uzbekistan's banking
sector as lenders pursue rapid balance-sheet growth. While the bank
expanded its loan portfolio by 41.9%, net profit grew at a slower
21.4%, suggesting that earnings growth has not fully kept pace with
credit expansion. At the same time, the 0.8 percentage-point
increase in the NPL ratio—from 2.7% to 3.5%—points to a modest
deterioration in asset quality, although the level remains
manageable. The contrast between the 21.4% increase in first-half
profit and the more modest 2.8% rise in trailing 12-month earnings
also indicates that profitability has improved in recent months
after a relatively weaker performance over the preceding year.
Overall, the figures suggest that Alokabank continues to prioritize
lending growth while maintaining credit risks within broadly
acceptable levels.