The growing demand of the population for housing and the implementation of housing measures have led to an increase in mortgage lending.
As of 1 January 2022, the mortgage balance outstanding was equal to 35.8 trillion soums, an increase of 26.8 % (7.5 trillion soums) compared to the corresponding period in 2021, while mortgages issued during this period increased by 7.4 % or 671.8 billion soums in comparison to the same period of the previous year, amounting to 9.8 trillion soums.
In 2021, the share of mortgages allocated for the purchase of houses built by
Investment Company «Qishloq Qurilish Invest» and Investment Company «Uzshahar
Qurilish Invest», in the total amount of mortgages outstanding amounted to 21.7% (2,124 billion soums), outstanding 40,9% (3,148.7 billion soums) since the corresponding period of the previous year, while the proportion of mortgages issued under the “new arrangements”, which are besed on market principles of providing the population with housing (hereinafter “new arrangements”), increased from 19.1% (1,744.6 billion soums) to 49.5% (4,846.2 billion soums).
The share of mortgages issued by commercial with funds obtained from JSC «Mortgage Refinancing Company of Uzbekistan» in the total volume of mortgages reached 20% (up to 1,956.8 billion soums).
In addition, the share of mortgages allocated for the purchase real estate in secondary markets increased to 25% (2,442.6 billion soums) (Table 1).
Table 1 Main indicators of mortgages
2019 2020 2021
Mortgage loans allocated,
7 977 9 122 9 794.1 in billion soums
– in the primary market 7 709 8 841 7 351.5
– in the secondary market 268 281 2 442.6
Mortgage loans allocated under “new
arrangements”, – 1 746 4 846.2
in billion soums
– For apartments with 1 and 2 rooms
– For apartments with 3 or more rooms
– For private houses
Mortgage loans from JSC «Mortgage
Refinancing Company of Uzbekistan» – 61,9 1 956.8
It should be noted that, although there was an increase in mortgages in 2021, as a result of structural changes, the demand for mortgages remains high, primarily due to the following factors:
robust growth of economic indicators (compared to the corresponding period of the previous year, there was an increase in GDP by 7.4 %, GDP per capita by 5.3 % and fixed asset investments by 5.2 %);
robust growth of the population (as of January 1, 2022, the population was 35.2 million people, which is equal to 102.1 % compared to the same period of the previous year);
increase in the proportion of entities engaged in construction activities in economic sectors as a result of increased investment activity in the country;
as a result of the implementation of new arrangements for the provision of mortgages, commercial banks are provided with a stable source of funding;
simplification of the procedures of mortgage loans granted to individuals for the construction of private houses, purchase of housing from the secondary mortgage markets;
As a result of the above and a number of other factors, between 2018 and 2021 the balance of mortgages increased by 2.6 times (22.0 trillion soums), and the number of mortgage contracts increased by almost 1.8 times (121.0 thousand). (Figure 1).
Figure 1
Number of mortgage contracts Mortgage loans balance outstanding thousand pieces trillion soums
As of 1 January 2022, the share of the total mortgages balance outstanding in total total credit portfolio was 11.0 % (35.8 trillion soums), increasing by 26.8 % (7.5 trillion soums) over the corresponding period of the previous year. (Figure 2).
Figure 2 Share of outstanding mortgages in total loan portfolio
By region, the mortgage loan balance outstanding was 8.3 trillion soums in city of
Tashkent (5 % of the total credit balance), 3.2 trillion soums (20 %) in Samarkand, 2.7 trillion soums (14 %) in Tashkent region, and 2.6 trillion soums (19 %) in Fergana,
2.5 trillion soums (20 %) in Kashkadarya region. (fig. 3-4).
Figure 3
The share of outstanding mortgage balance in the total loan portfolio by region as of January 1, 2022
Figure 4
Share of mortgages in the total commercial bank loan portfolio
Of the total balance of mortgage loans disbursed, Ipoteka Bank’s share is 30.6% (10.9 trillion soums), Qishloqurilishbank’s – 23.6% (8.4 trillion soums), National bank’s- 12.7% (4.5 trillion soums), Asaka bank’s- 9.1% (3.2 trillion soums), Uzsanoatqurilishbank’s – 9.1% (3.2 trillion soums), Xalq bank’s – 4.6% (1.6 trillion soums) and the share of other commercial banks 10.4% (3.7 trillion soums). (Figure 5).
Figure 5
The percentage of commercial banks’ share in total mortgage balance outstanding as of 1 January 2022
Of the mortgages balance outstanding the share of loans up to 7 years was 199.0 billion soums (0.6 % of the total mortgage loans outstanding), up to 10 years – 2.037.7 billion soums (5.7%), up to 15 years – 9.136.8 billion soums (25.5%), up to 20 years – 24.452.1 billion soums (68.3%) (Figure 6).
Figure 6 Analysis of mortgage portfolio by Analysis of mortgage portfolio by
maturity, % maturity, in thous. units
In 2021, the share of outstanding mortgages in total loans disbursed to individuals (69.5 trillion soums) was 51.6% (Figure 7).
Figure 7 Share of mortgage balance to total balance of loans granted to individuals
While the balance of loans granted to individuals increased by 26.6 % (14.6 trillion soums) compared to the same period of the previous year, the balance of mortgages rose by 26.5 % (7.5 trillion soums).
In addition, the ratio of mortgages to GDP in 2021 was relatively high in Tashkent city (2.2 %), Surkhandarya (2.4 %), Fergana (1.9 %) and Syrdarya (1.7 %), with low rates in Navoi (0.8 %), Tashkent region (0.8 %) and Kashkadarya (1.0 %). (Figure 8).
Figure 8 Share of allocated mortgage loans and balance outstandings to GDP
Mortgages issued in 2021
As of 1 January 2021, five regions accounted for 60.2 % of all mortgages disbursed, including 27.2 % in Tashkent (2,666.3 billion soums), 9.4 % in Fergana (917.2 billion soums), 7.2 % in Andijan (700.8 billion soums), and 9.0 % in Samarkand (883,5 billion soums) and 7.5% in Surkhandarya (730,1 billion soums). (Figure 9)
Figure 9.
Mortgage loans granted in 2021, in billion soums
The analyses show that the relationship between the number of mortgages granted by regions and the population per square kilometer has a high elasticity, and the increase in their number indicates an increase in the demand for mortgages.
In particular, the highest number of mortgages in 2021 was in Tashkent city with 10,7 thousand units (1 sq. km. 8,035 people), in Fergana with 6,3 thousand (576 people) and Samarkand with 4,9 thousand(240 people). (Figure 10).
Figure 10
Relationship between regional population density and
the number of mortgages granted
In 2021, the share of mortgages up to 100 million soums was 5% (the number of loan agreements was equal to 3,318), up to 101-200 million soums – 49% (the number of loan agreements was equal to 28,959) up to 201-300 million soums – 34%, up to 301-400 million sums – 10% (the number of loan agreements was equal to 6 254), and more than 401 million soums – 2% (the number of loan agreements was equal to 1 025). (Figure 11)
Figure 11 Share of mortgages in the composition of loans granted in 2021
The analysis of the average housing prices in 2021, obtained with mortgages from all sources of financing revealed that the price of housing was relatively high in Tashkent (381.9 million soums), Andijan (280.1 million soums), Samarkand (275.3 million soums) and Surkhandarya regions (274.3 million soums) and relatively low in Khorezm region (218.6 million soums), Republic of Karakalpakstan (226.4 million soums), Kashkadarya (227.3 million soums) and Bukhara (229.1 million soums). (Figure 12)
Figure 12 Average housing prices (in million soums)
Moreover, as of the reporting date, the share of mortgages issued under the «new arrangements» in the structure of mortgages increased by 2.8 times (3.101.6 billion soums) compared to the same period of the previous year. Loans allocated with the funds of JSC “Mortgage Refinancing Company of Uzbekistan” increased by
31.7 times (1,895.1 billion soums), while the share of loans allocated for the purchase of houses built by Investment Company “Qishloq Qurilish Invest” and Investment Company “Uzshahar Qurilish Invest” decreased by 40.9% (4.324.7 billion soums). (Figure 13).
Figure 13
Percentage of mortgage lending in 2020-2021
24 % of mortgages (2,349.2 billion soums) in 2021 were granted to 18-30 yearolds, 69 % (6,733.2 billion soums) to 31-50 year-olds, and 7 % (711.7 billion soums) were granted to citizens over 50 years of age. (Figure 14).
Figure 14 Percentage breakdown borrowers of mortgage by age in 2021
In addition, 46,229 people (78 % of the total) received 7,351.5 billion soums for the purchase of housing on the primary market, and 13,341 citizens (22 %) received mortgages for the purchase of housing on the secondary market.
Monthly mortgage repayments on terms valid in 2021
Table 2
Т/р Credit amount Duration of the credit Annual interest
rate of the credit Repayment method Monthly installment
1 100 mln. soum 20 years
17 % Annuity
(monthly with equal sum) 1 466 801 soum
2 150 mln. soum 2 200 201 soum
3 200 mln. soum 2 933 601 soum
4 250 mln. soum 3 667 001 soum
5 300 mln. soum 4 400 402 soum
6 350 mln. soum 5 133 802 soum
7 400 mln. soum 5 867 202 soum
Mortgage loans issued under the “new arrangements”
In 2021, under the “new arrangements” 22 602 citizens were granted 4 846.2 billion soums amount of mortgages (2.8 times (or 3,094.8 billion soums) more than in the same period of the previous year). 2 442.4 billion soums (50 %) of mortgages are allocated for the purchase of apartments with 1 and 2 rooms, 2,083.7 billion soums (43 %) for apartments with 3 or more rooms, and 320.0 billion soums (7 %) for the purchase of private houses.
Figure 15
Mortgage loans granted by commercial banks to the population under the «new arrangements», in billion soums
By region, the largest share of mortgages accounted Tashkent city (853.0 billion soums), Samarkand (682.3 billion soums), Fergana (624.4 billion soums) and Andijan (504.5 billion soums). (Figure 15).
In 2020-2021 under the “new arrangements” commercial banks provided 6,593.2 billion soums of mortgages to the population. The banks with the largest share of mortgage loans were Ipoteka bank- (34.3 %), “Qishloqqurilishbank” (24.1 %), National bank (11.6 %), Xalq bank (6.0 %) and other participating commercial banks 24 %. (Figure 16).
Figure 16
Mortgage loans issued by commercial banks to citizens under the
“new arrangements in 2020-2021, in billion soums
In 2020-2021, 37 % of the mortgages allocated under the “new arrangemenst” (2,420.8 billion soums for 10,787 people) were allocated to citizens who have a notice of subsidy for the improvement of housing conditions.
Figure 17
Mortgage loans granted to citizens holding the notification of subsidy under the
«new arrangements», in billion soums
Out of mortgage loans, granted to people in need of improved housing conditions, $635.7 billion soums (26.3 %) was given to residents in Samarkand, 314.0 billion soums (12.9 %) to residents in the city of Tashkent and 313.5 billion soums (12.9%) were given to residents in Surkhandarya, 286.1 billion soums (11.8%) to residents in Namangan region. (Figure 17).
The average interest rate on issued mortgages was 17.3 %, decreasing by 0.2 % compared to the same period last year.
The lowest average interest rate on mortgages issued under the
«new arrangemenst» in 2020-2021 was observed in April of the current year and amounted to 17.2%. (Figure 18).
Figure 18
Central Bank’s refinancing rate and average interest rate on mortgages issued under the new procedure
The downward trend in the average interest rate for mortgages issued under the
“new arrangements” can be explained by the procedure, stipulated in the decree of the President of the Republic of Uzbekistan #5886 of 28 November 2019 “On additional measures to improve mortgage lending”, according to which in the event of decrease of the main rate of the Central Bank, funds allocated by the Ministry of Finance and interest rates on commercial bank mortgages will be reduced accordingly and, that if increased, will remain unchanged.
In particular, the Central Bank’s main rate was reduced from 16% to 14% in 2020, which in turn led to lower interest rates on mortgages.
At the same time, the resources provided by the Ministry of Finance to commercial banks-participants within the framework of the «new arrangements» play an important role in the timely satisfaction of the population’s demand for mortgages and the creation of a healthy competitive environment among commercial banks. This, in turn, contributes to lower interest rates on mortgages.
It should be noted that that achieving 5% inflation target until 2023 was defined on the Decree of the President of the Republic of Uzbekistan #5877 of 18 November 2019 “On improvement of the monetary policy with a gradual transition to the targeting regime”.
In the future, the reduction of inflation will become the economic basis for a proportional reduction of the basic interest rate of the CB and the percentage of mortgages granted under the “new arrangements”.
Comparative information on the status of mortgages in Uzbekistan and neighbouring countries
Uzbekistan Russia Kazakhstan Kyrgyzstan
Refinancing rate rate, % 14 8,5 10,25
8
(30.11.2021)
Average mortgage interest rate(annually), % 17,5 7,7 8,4 12,8
The average mortgage length 17,1
years 20,9 years 9
years 9,8
years
The longest mortgage term 20
years 30
years 25
years 25
years
The average mortgage amount, $ 18 791 $
45 500 $
(10/2021) 29 425 $ *
2019
Share of the mortgage loan 2020 portfolio as of GDP, % 2021
3,8 17,5 3 2,6
4,9 9,4 5 3,8
5,3
10.5 (07/2021) 3,8 (08/2021)
2,89
(09/2021)
The average price of the apartments in the primary market in the capital city (1 sq.km.)
811 $
3721 $ 912 $ 798 $
The average price of the apartments in the secondary market in the capital city (1 sq.km.) 740 $ 3546 $ 808 $ 770 $
Source: Analysis of official websites and economic research centres for macroeconomic analysis;
Mortgage Refinancing Company of Uzbekistan
Mortgage loans granted by the funds of the Mortgage Refinancing Company of Uzbekistan.
Following the Decree of the President of the Republic of Uzbekistan #5715 of
13 May 2019, «On additional measures for the development and expansion of the mortgage market», nowadays 9 commercial banks (Ipoteka bank, Asaka bank, National bank, Uzsanoatqurilishbank, Qishloqqurilishbank, Agrobank, Turonbank, Hamkorbank and Xalq bank) by utilizing the funds of the JSC «Mortgage Refinancing
Company of Uzbekistan» are providing mortgage loans for the purchase of apartments (up to 400.0 million soums) on primary and secondary markets likewise for the construction of housing (up to 80.0 million soums) .
As of 1 January 2022, 10,570 citizens had been granted mortgages with 1,956.8 billion soums by commercial banks using the resources of the Company mentioned above. 98.7 % (1,931.2 billion soums) of these mortgages are allocated for purchasing the apartments on the secondary market, 0.1 % (2.4 billion soums) to the primary market, and 1.2 % (23.2 billion soums) for housing reconstructure.
Figure 19
Mortgage loans by the funds from the Mortgage Refinancing Company of Uzbekistan for 2021, in billion soums.
30.9 % (605.3 billion soums) of mortgage loans disbursed were in Tashkent city, 11.7 % (229.7 billion soums) in Tashkent region, 8.6 % (169.0 billion soums) in Navoi region, 6.4 % (124.4 billion soums) in Khorezm region, 6.3 % (123.4 billion soums) in the Republic of Karakalpakstan. (Figure 19).
In 2021, a relatively high portion of mortgages (1,956.8 billion soums) allocated with funds from the Mortgage Refinancing Company of Uzbekistan amounted to 21.4 % for Uzsanoatqurilishbank, 20.4 % for Hamkorbank, 17.3 % for Ipoteka bank and 12,5% for Asaka bank, the relatively low rate is found in National bank (3.0 %) and Xalq bank (1.3 %). (Figure 20).
Figure 20
Percentage of commercial banks in mortgages issued with funds of the Mortgage Refinancing Company of Uzbekistan
Status of loans extended by commercial banks to construction firms
As of 1 January 2022, the balance outstanding of loans granted by commercial banks to construction firms for housing construction is 2,050.6 billion soums (by 67 % or 822.9 billion soums higher than in the same period of the previous year), with the largest share in Surkhandarya (21.9 %), Jizzakh (17.1 %), Syrdarya (9.4 %) and Tashkent regions (8.9 %). (Figures 21-22).
Figure 21
Balance of loans granted by commercial banks to construction firms for constructing houses, in billion soums
Figure 22
Mortgage loans granted in 2021 by commercial banks to construction firms for constructing houses, in billion soums
According to the allocated resouces by the funds of the State Fund for Support of Entrepreneurship, mortgages issued by commercial banks in national currency under the “new arrangements” to private construction firms for the construction of 7 and more storey apartments in cities, 5 or more in rural areas, 9 or more storey apartment buildings in the city of Tashkent:
– guarantee up to 50 % of the amount of the loan, but not more than 8 billion soums;
– compensation is being paid for the number of flats not less than 70 % of which do not exceed 70 sq. m in a multi-storey house, which has been under construction for not more than 24 months from the date of the loan granted to cover that part, which exceeds the basic rate of the Central Bank and amounts to no more than 10 % of the interest rate points at a part of the basic rate of the Central Bank of the Republic of Uzbekistan of 1.75 times the amount of the loan not exceeding 10 billion soums.
As of 1 January 2022, worth of guarantee notices amounting 95.6 billion soums have been given by the State Fund for Support of Entrepreneurship to 57 construction firms and in the amount of 44.8 billion soums has been paid for as a compensation (Figure 23)
Figure 23
Guarantee and compensation payments made by the State Enterprise Support
Fund to private construction firms, in billion soums
Status of mortgage repayments.
0.2 % (77.4 billion soums) of the total mortgage loan balance was allocated as mortgages until 2010, 11.8 % (4,238.4 billion soums) between 2011-2016, 88.0% (31 509.9 billion soums) in 2017-2021. (Figure 24).
Figure 24 Percentage distribution of mortgage balance over the period
As of 1 January 2022, repaid mortgage loans amounted in 543 billion soums
(24.4% of the total mortgage repaid) took place in Qishloqqurilishbank , this figure in Ipoteka bank was 494 billion soums (22.2 %), National bank – 319 billion soums (14.3 %), Asaka bank – 216 billion soums (9.7 %).
The ratio of repaid mortgages to the credit schedule in Ipoteka bank – 206%
(332.7 billion soums is repaid more from the credit schedule), Asaka bank – 179% (+138.5 billion soums), National bank – 141% (+186.3 billion soums), Qishloqqurilishbank -135% (+312.3 billion soums). (Figure 25).
Figure 25
Total mortgages repaid in 2021, in billion soum
Moreover, mortgages repaid in 2021 in the amount of 2,228.0 billion soums (2.6 times (or 1,359.1 billion soums) more than the credit schedule) of the loans allocated to more than 166 thousand citizens is 1.7 times more than the mortgages repaid in 2020 which was 1,314.0 billion soums in the amount.
In particular, mortgage loans have been repaid in the amount of 273 billion soums (12.2 % of the total amount of mortgages repaid) in Tashkent region, 237 billion soums (10.6 %) in Surkhandarya, 219 billion soums (9.8 %) in Kashkadarya and 215 billion soums (9.7 %) in Samarkand. (Figure 26).
Figure 26
Total mortgages repaid in 2021 in billion soums
According to the analysis, by the end of 2022 full repayment of the mortgage, allocated from all sources of financing funds is expected to be in the amount of 1,236.2 billion soums, including in the city of Tashkent – 233 billion soums, (18.9 % of the expected settlement of mortgages), in Kashkadarya – 115 billion soums (9.3%), Samarkand – 113 billion soums (9.2%), the Republic of Karakalpakstan – 107 billion soums (8.7%) (Figure 27).
Figure 27 Expected amont of repayments of mortgages issued by commercial banks in 2021, in billion soums
Appendix 1.1 Mortgage loans granted to the population in 2017-2021.
billion soums
№ Area Total disbursed mortgage loans For Total disbursed mortgage balance
(01.01.2022)
2017 2018 2019 2020 2021
quantity amount quantity amount quantity amount quantity amount quantity amount quantity amount
Total 279 785 35 765,0 36 124 4 082,3 39 556 4 788,7 67 261 7 977,5 77 274 9 122,3 59 570 9 794,1 35 825,7
1 Republic of Karakalpakstan 19 905 2 217,4 2 651 284,7 2 977 370,2 5 538 653,2 5 277 534,3 3 462 374,9 2 113,4
2 Andijan region 14 950 2 050,0 1 715 184,6 1 965 231,9 3 950 475,7 3 367 457,1 3 953 700,8 2 277,0
3 Bukhara region 14 697 1 714,8 2 266 260,2 2 380 287,5 3 433 444,2 3 568 300,2 3 050 422,7 1 654,1
4 Jizzakh region 12 468 1 560,7 1 893 191,9 2 011 214,7 3 579 519,4 3 197 382,0 1 788 252,6 1 587,9
5 Kashkadarya region 24 390 2 518,2 4 395 534,9 4 693 620,8 5 061 500,7 6 695 435,8 3 546 426,0 2 532,8
6 Navoi region 11 882 1 358,7 1 851 165,1 2 036 201,8 2 218 185,8 2 775 337,8 3 002 468,3 1 539,9
7 Namangan region 17 256 1 819,7 2 050 191,6 2 309 226,0 4 473 468,6 4 370 319,8 4 054 613,7 1 888,2
8 Samarkand region 24 537 3 249,8 3 394 406,1 3 598 441,6 6 199 646,8 6 492 871,8 4 854 883,5 3 249,4
9 Surkhandarya region 20 387 2 510,4 2 442 300,5 2 659 348,7 4 587 543,3 5 854 587,7 4 845 730,1 2 494,4
10 Syrdarya region 8 609 1 041,0 1 254 121,5 1 320 148,2 2 125 194,4 2 215 317,2 1 695 259,7 1 175,5
11 Tashkent region 26 291 2 811,2 2 788 234,8 3 480 329,8 7 593 865,3 7 502 690,6 4 928 690,8 2 774,0
12 Fergana region 23 977 2 603,8 2 909 311,5 3 282 375,3 5 707 502,9 5 829 496,8 6 250 917,2 2 675,6
13 Khorezm region 14 203 1 344,8 1 777 218,5 1 833 253,5 2 798 277,9 4 389 207,4 3 406 387,4 1 522,8
14 Tashkent (capital city) 46 233 8 964,3 4 739 676,5 5 013 738,6 10 000 1 699,1 15 744 3 183,7 10 737 2 666,3 8 340,8
Appendix 1.2 Mortgage loans granted to the population in 2017-2021.
billion soums
№ Name of Commercial banks Total disbursed mortgage loans For Total disbursed mortgage balance
(01.01.2022)
2017 2018 2019 2020 2021
quantity amount quantity amount quantity amount quantity amount quantity amount quantity amount
Total 279 785 35 765,0 36 124 4 082,3 39 556 4 788,7 67 261 7 977,5 77 274 9 122,3 59 570 9 794,1 35 825,7
1 Ipoteka bank 97 015 11 841,1 12 309 1 277,0 12 767 1 406,3 19 652 2 616,9 32 763 3 637,5 19 524 2 903,4 10 959,3
2 Asaka bank 25 553 3 371,0 3 024 364,2 3 384 422,8 9 820 1 146,1 7 303 1 070,9 2 022 367,0 3 244,3
3 NBU 37 715 4 370,0 5 282 593,8 6 282 745,5 8 068 812,1 8 907 774,2 9 176 1 444,4 4 537,5
4 Uzsanoatqurilishbank 24 863 3 470,4 2 959 339,1 3 227 394,8 8 428 988,1 6 787 1 144,9 3 462 603,4 3 271,6
5 Xalq bank 16 708 1 789,5 2 728 308,1 2 952 380,3 4 420 331,2 4 137 389,9 2 471 379,9 1 633,2
6 Aloqa bank 2 386 486,2 440 79,6 526 94,8 595 120,7 434 105,3 391 85,7 399,0
7 Qishloqqurilishbank 57 696 6 586,8 8 004 872,6 8 853 1 055,9 12 951 1 370,7 13 554 1 105,6 14 334 2 182,1 8 448,9
8 Mikrokredit bank 3 092 592,1 451 70,5 512 80,5 345 66,6 669 150,9 1 115 223,6 503,0
9 Agro bank 2 244 467,1 68 10,6 71 11,5 385 79,0 569 151,8 1 151 214,2 462,2
10 Turon bank 2 100 446,2 50 8,5 64 10,3 351 75,6 457 118,2 1 178 233,4 431,0
11 Other banks 10 413 2 344,6 809 158,2 918 185,9 2 246 370,4 1 694 473,1 4 746 1 157,0 1 935,8
Appendix 2.1
Mortgage loans granted to the population in 2021
billion soums
№ Area name Disbursed mortgage loans For funds of interest rate
the primary market the secondary market banks budget Ministry of Finance Mortgage Refinancing Company of Uzbekistan up to 14 %
annually over 14 %
annually
quantity total amount amount amount amount amount amount amount amount
Total 59 570 9 794,1 7 351,5 2 442,6 867,1 2 124,0 4 846,2 1 956,8 3 309,6 6 484,5
1 Republic of
Karakalpakstan 3 462 374,9 246,0 129,0 28,1 98,4 125,0 123,4 108,1 266,8
2 Andijan region 3 953 700,8 523,9 176,9 20,9 56,0 504,5 119,4 214,2 486,6
3 Bukhara region 3 050 422,7 324,4 98,4 3,7 74,3 255,2 89,6 172,1 250,6
4 Jizzakh region 1 788 252,6 197,1 55,6 30,3 35,4 134,8 52,2 88,9 163,8
5 Kashkadarya region 3 546 426,0 338,2 87,8 12,9 110,2 210,2 92,7 214,2 211,8
6 Navoi region 3 002 468,3 283,9 184,4 6,5 32,7 260,2 169,0 60,8 407,4
7 Namangan region 4 054 613,7 544,5 69,3 7,3 153,2 385,2 68,0 286,4 327,3
8 Samarkand region 4 854 883,5 804,8 78,7 9,6 114,7 682,3 76,9 359,2 524,2
9 Surkhandarya region 4 845 730,1 671,0 59,2 31,6 161,0 483,0 54,5 233,4 496,7
10 Syrdarya region 1 695 259,7 199,6 60,1 63,3 73,7 70,8 51,9 111,9 147,7
11 Tashkent region 4 928 690,8 446,9 244,0 54,5 276,4 130,2 229,7 239,6 451,3
12 Fergana region 6 250 917,2 797,7 119,5 41,5 151,4 624,4 99,9 360,4 556,8
13 Khorezm region 3 406 387,4 246,8 140,7 5,6 130,0 127,5 124,4 166,0 221,5
14 Tashkent (capital city) 10 737 2 666,3 1 727,0 939,3 551,4 656,7 853,0 605,3 694,4 1 972,0
Appendix 2.2
Mortgage loans granted to the population in 2021
billion soums
№ Name of Commercial banks Total disbursed mortgage loans For funds of interest rate
the primary market the secondary market banks budget Ministry of Finance Mortgage Refinancing
Company of
Uzbekistan up to 14 %
annually over 14 %
annually
quantity total amount amount amount amount amount amount amount amount
Total 59 570 9 794,1 7 351,5 2 442,6 867,1 2 124,0 4 846,2 1 956,8 3 309,6 6 484,5
1 Ipoteka bank 19 524 2 903,4 2 478,7 424,6 137,5 783,1 1 644,2 338,6 1 536,7 1 366,6
2 Asaka bank 2 022 367,0 141,7 225,3 13,3 9,6 100,3 243,7 25,3 341,7
3 NBU 9 176 1 444,4 1 303,6 140,9 46,2 767,7 571,2 59,4 792,6 651,8
4 Uzsanoatqurilishbank 3 462 603,4 170,9 432,5 40,9 50,6 92,2 419,7 105,5 497,9
5 Xalq bank 2 471 379,9 324,2 55,6 68,3 25,4 260,8 25,3 83,0 296,8
6 Aloqa bank 391 85,7 84,8 0,9 10,4 75,3 0,0 85,7
7 Qishloqqurilishbank 14 334 2 182,1 1 932,3 249,7 86,8 479,7 1 404,2 211,3 719,7 1 462,4
8 Mikrokredit bank 1 115 223,6 206,5 17,1 15,9 207,7 0,2 223,5
9 Agro bank 1 151 214,2 101,0 113,2 1,3 104,6 108,4 0,5 213,7
10 Turon bank 1 178 233,4 86,4 147,1 25,2 57,1 151,1 0,4 233,1
11 Other banks 4 746 1 157,0 521,4 635,5 421,4 7,8 328,5 399,2 45,7 1 111,3
Appendix 3.1
Mortgage loans granted to the population under the New Procedure and from the funds of the Mortgage Refinancing Company of Uzbekistan in 2020-2021
billion soums
№ Area name Total allocated mortgage loans For
under the “new
arrangements” including the mortgage
loans issued on the basis of
the subsidy Mortgage Refinancing Company of Uzbekistan including the secondary market
quantity amount quantity amount quantity amount quantity amount quantity amount
Total 41 432 8 612,0 30 529 6 593,2 10 787 2 420,8 10 903 2 018,8 10 560 1 992,0
1 Republic of
Karakalpakstan 1 816 310,6 961 183,3 19 3,3 855 127,3 833 125,5
2 Andijan region 3 400 737,5 2 781 617,3 897 192,4 619 120,2 579 117,4
3 Bukhara region 2 474 444,2 1 945 354,1 997 181,7 529 90,1 516 89,1
4 Jizzakh region 1 076 224,6 765 171,8 288 70,9 311 52,9 273 50,3
5 Kashkadarya region 1 749 345,6 1 170 252,4 400 94,4 579 93,2 565 92,2
6 Navoi region 3 201 581,5 2 161 407,0 98 15,9 1 040 174,4 1 024 173,4
7 Namangan region 2 746 512,6 2 300 442,2 1 396 286,1 446 70,4 425 69,0
8 Samarkand region 5 098 1 182,1 4 717 1 104,4 2 701 635,7 381 77,7 375 77,2
9 Surkhandarya region 3 068 701,7 2 785 646,1 1 276 313,5 283 55,6 273 54,3
10 Syrdarya region 698 141,9 400 89,6 60 15,7 298 52,3 275 50,6
11 Tashkent region 2 328 404,9 826 163,8 87 20,2 1 502 241,1 1 479 239,1
12 Fergana region 4 878 899,0 4 165 798,5 1 180 234,2 713 100,5 669 97,3
13 Khorezm region 1 745 294,5 1 026 167,0 210 42,8 719 127,4 674 123,9
14 Tashkent (capital city) 7 155 1 831,4 4 527 1 195,7 1 178 314,0 2 628 635,7 2 600 632,7
Appendix 3.2
Mortgage loans granted to the population under the New Procedure and from the funds of the Mortgage Refinancing Company of Uzbekistan in 2020-2021
billion soums
№ Name of Commercial banks Total allocated mortgage loans For
under the “new
arrangements” including the mortgage
loans issued on the basis of the subsidy Mortgage Refinancing Company of Uzbekistan including the secondary market
quantity amount quantity amount quantity amount quantity amount quantity amount
Total 41 432 8 612,0 30 529 6 593,2 10 787 2 420,8 10 903 2 018,8 10 560 1 992,0
1 Ipoteka bank 12 186 2 625,9 10 205 2 258,7 3 549 802,8 1 981 367,2 1 966 365,5
2 Asaka bank 2 090 410,3 788 166,6 304 72,2 1 302 243,7 1 259 240,4
3 NBU 3 697 821,2 3 468 761,9 1 469 345,3 229 59,4 192 56,6
4 Uzsanoatqurilishbank 3 245 622,4 828 178,0 253 61,1 2 417 444,5 2 417 444,5
5 Xalq bank 1 973 419,0 1 873 393,7 998 222,5 100 25,3 100 25,3
6 Aloqa bank 453 99,8 453 99,8 123 28,7
7 Qishloqqurilishbank 8 917 1 807,9 7 804 1 590,7 2 426 506,8 1 113 217,2 1 112 217,1
8 Mikrokredit bank 1 463 290,0 1 463 290,0 567 117,6
9 Agro bank 1 514 295,2 857 184,1 567 127,2 657 111,1 653 110,7
10 Turon bank 1 263 248,6 496 97,5 116 27,1 767 151,1 683 143,5
11 Ipak yuli bank 66 15,4 66 15,4 38 8,8
12 Hamkorbank 2 662 462,1 325 62,8 61 13,9 2 337 399,2 2 178 388,4
13 Kapital bank 532 129,4 532 129,4 44 10,3
14 Orient Finans bank (OFB) 1 371 364,7 1 371 364,7 272 76,7
Appendix 4.1
Mortgage loans granted to the population under the New Procedure in 2021
million soums
№ Area name Total For
1 room apartment 2 rooms apartment 3 rooms apartment 4 and more than 4 rooms apartment private houses
quantity credit amount quantity credit amount quantity credit amount quantity credit amount quantity credit amount quantity credit amount
Total 22 602 4 846 213,9 1 079 220 065,0 10 752 2 222 376,5 7 925 1 955 777,1 503 127 993,2 2 343 320 002,0
1 Republic of
Karakalpakstan 656 125 034,2 36 6 252,0 347 67 202,5 153 37 253,9 7 1 970,5 113 12 355,2
2 Andijan region 2 328 504 498,5 51 9 812,5 1 141 230 388,4 784 197 311,7 46 12 452,8 306 54 533,1
3 Bukhara region 1 410 255 182,9 54 8 191,9 729 128 658,4 417 89 374,5 18 4 158,9 192 24 799,2
4 Jizzakh region 616 134 757,3 53 11 007,0 190 44 120,4 193 50 687,0 16 4 523,9 164 24 418,9
5 Kashkadarya region 969 210 198,3 33 6 145,1 569 123 681,7 251 65 536,1 17 3 701,6 99 11 133,7
6 Navoi region 1 441 260 153,3 145 24 607,5 704 129 318,9 329 73 705,7 19 4 119,6 244 28 401,6
7 Namangan region 1 973 385 218,2 51 11 297,3 896 173 920,2 899 180 246,8 31 6 729,1 96 13 024,8
8 Samarkand region 2 926 682 342,7 63 13 650,8 1 348 278 078,2 1 371 366 092,1 29 7 521,3 115 17 000,3
9 Surkhandarya region 2 092 483 028,5 59 9 584,2 1 081 236 092,9 786 212 927,2 19 5 499,9 147 18 924,4
10 Syrdarya region 332 70 795,2 11 2 240,8 114 29 816,5 82 24 335,6 4 1 164,1 121 13 238,2
11 Tashkent region 639 130 197,2 34 6 343,2 236 52 210,6 182 44 291,9 15 4 040,9 178 24 124,7
12 Fergana region 3 291 624 374,4 48 8 383,3 1 568 276 110,4 1 229 261 973,0 147 34 681,0 299 43 226,7
13 Khorezm region 802 127 464,5 6 878,3 282 46 942,7 217 39 319,7 28 5 502,6 269 34 821,2
14 Tashkent (capital city) 3 127 852 968,6 435 101 671,1 1 547 405 834,5 1 032 312 722,1 107 31 927,0
Appendix 4.2
Mortgage loans granted to the population under the New Procedure in 2021
million soums
№ Name of Commercial banks Total For
1 room apartment 2 rooms apartment 3 rooms apartment 4 and more than 4 rooms apartment private houses
quantity credit amount quantity credit amount quantity credit amount quantity credit amount quantity credit amount quantity credit amount
Total 22 602 4 846 213,9 1 079 220 065,0 10 752 2 222 376,5 7 925 1 955 777,1 503 127 993,2 2 343 320 002,0
1 Ipoteka bank 7 348 1 644 219,9 552 112 784,6 3 291 700 233,2 2 821 692 218,8 329 82 844,6 355 56 138,7
2 Asaka bank 478 100 305,3 66 12 041,8 181 38 621,2 135 34 701,6 16 4 106,1 80 10 834,7
3 NBU 2 623 571 205,1 73 13 263,0 945 197 705,5 963 264 973,7 10 3 018,4 632 92 244,5
4 Uzsanoatqurilishbank 443 92 163,3 9 1 343,3 214 46 445,4 99 25 782,9 40 10 666,1 81 7 925,6
5 Xalq bank 1 316 260 794,3 25 5 143,4 521 107 503,2 400 101 320,8 5 1 326,0 365 45 501,0
6 Aloqa bank 342 75 349,6 19 2 838,5 115 26 371,0 98 25 074,6 7 2 000,2 103 19 065,3
7 Qishloqqurilishbank 6 854 1 404 232,8 3 576,6 4 226 836 813,7 2 283 531 808,5 342 35 033,9
8 Mikrokredit bank 1 067 207 725,2 36 6 251,6 410 75 028,7 427 95 787,8 40 8 309,0 154 22 348,2
9 Agro bank 498 104 564,7 8 1 363,4 190 36 592,1 241 56 433,0 10 3 015,0 49 7 161,3
10 Turon bank 322 57 118,6 27 4 250,3 147 29 436,3 61 13 971,8 8 1 903,0 79 7 557,2
11 Ipak yuli bank 38 9 105,0 3 554,4 15 3 307,2 19 4 961,8 1 281,6
12 Hamkorbank 259 49 027,0 22 3 951,3 74 14 428,8 57 13 512,4 7 1 724,8 99 15 409,8
13 Kapital bank 130 32 555,8 29 6 669,0 55 12 028,7 42 12 630,0 4 1 228,1
14 Orient Finans bank (OFB) 884 237 847,3 207 49 033,9 368 97 861,4 279 82 599,6 26 7 570,5 4 781,9
Appendix 5.1
Mortgage loans granted to the population from the funds of the
Mortgage Refinancing Company of Uzbekistan in 2021
million soums
№ Area name disbursed mortgage loans For
the primary market apartments the secondary market apartments the construction of houses
quantity credit amount quantity credit amount quantity credit amount quantity credit amount
Total 10 570 1 956 835,7 11 2 388,8 10 235 1 931 247,3 324 23 199,6
1 Republic of Karakalpakstan 832 123 396,1 1 100,5 810 121 558,6 21 1 737,0
2 Andijan region 614 119 351,9 574 116 577,1 40 2 774,8
3 Bukhara region 525 89 565,4 1 180,0 512 88 573,4 12 812,0
4 Jizzakh region 307 52 187,2 269 49 592,5 38 2 594,7
5 Kashkadarya region 575 92 720,5 563 91 888,5 12 832,0
6 Navoi region 1 005 168 974,4 989 167 992,9 16 981,5
7 Namangan region 428 68 031,1 408 66 745,1 20 1 286,1
8 Samarkand region 375 76 860,4 369 76 404,5 6 455,8
9 Surkhandarya region 279 54 507,9 3 826,3 269 53 207,6 7 474,0
10 Syrdarya region 295 51 879,7 272 50 204,2 23 1 675,5
11 Tashkent region 1 438 229 722,8 1 417 228 227,1 21 1 495,8
12 Fergana region 708 99 928,1 1 60,0 664 96 762,1 43 3 106,0
13 Khorezm region 700 124 400,5 2 306,0 655 120 880,0 43 3 214,5
14 Tashkent (capital city) 2 489 605 309,7 3 916,0 2 464 602 633,7 22 1 760,0
Appendix 5.2
Mortgage loans granted to the population from the funds of the
Mortgage Refinancing Company of Uzbekistan in 2021
million soums
№ Name of the Commercial banks disbursed mortgage loans For
the primary market apartments the secondary market apartments the construction of houses
quantity credit amount quantity credit amount quantity credit amount quantity credit amount
Total 10 570 1 956 835,7 11 2 388,8 10 235 1 931 247,3 324 23 199,6
1 Ipoteka bank 1 813 338 606,7 1 806 338 068,9 7 537,8
2 Asaka bank 1 302 243 712,1 1 259 240 436,1 43 3 275,9
3 NBU 229 59 357,2 192 56 623,2 37 2 734,0
4 Uzsanoatqurilishbank 2 294 419 719,2 2 294 419 719,2
5 Xalq bank 100 25 340,2 100 25 340,2
6 Qishloqqurilishbank 1 081 211 349,7 1 080 211 279,7 1 70,0
7 Agro bank 647 108 364,5 3 340,5 643 107 944,0 1 80,0
8 Turon bank 767 151 138,0 7 1 832,3 683 143 481,7 77 5 823,9
9 Hamkor bank 2 337 399 248,2 1 216,0 2 178 388 354,2 158 10 677,9