Uzbek Ipak Yuli Bank raises 9-month net profit 9.2% to $69M

Photo: Ipak Yuli Bank

BAKU, Azerbaijan, October 26. Uzbekistan’s Ipak Yuli Bank reported net profit of 821.8 billion soums (about $69 million) in the first nine months of 2026, up 9.2% year over year.

This was reflected in the statement by KAP DEPO.

Net profit for the third quarter, covering July through September, rose 27.7% year over year to 341.3 billion soums (around $28.6 million), compared with approximately 267.2 billion soums (approx. $22.4 million) in the same period of 2025.

Meanwhile, the bank recognized 336 billion soums (about $28.2 million) in provisions for potential loan and leasing losses during the reporting period. This amount represented an expense recorded in the income statement, rather than the total balance of provisions held by the bank.

According to the financial statement, net interest income before provisions for potential loan and leasing losses reached 1.81 trillion soums (around $152 million). After accounting for these provisions, net interest income amounted to 1.47 trillion soums (approx. $123.4 million).

The bank’s gross loan portfolio stood at approximately 19.9 trillion soums (about $1.67 billion), while gross leasing operations totaled 70 billion soums (around $5.87 million). After deducting provisions for potential loan and leasing losses, net loans and leasing operations amounted to 19.64 trillion soums (approx. $1.64 billion).

The bank’s income statement also showed operating expenses of 1.22 trillion soums (about $102 million) and an income tax expense of 40.1 billion soums (approx. $3.36 million). Profit before tax and other adjustments reached 861.9 billion soums (around $72 .4 million), resulting in net profit of 821.8 billion soums. (approx. $69 million)

The results indicate that Ipak Yuli Bank remained profitable in the first nine months of 2026, with net profit increasing year over year. Its financial statement also shows that provisions for potential loan and leasing losses reduced net interest income by approximately 336 billion soums (about $28.2 million) during the reporting period.