In June, deposits in the banking system were withdrawn by the population and businesses, totaling nearly $172 185 000, according to data from the Central Bank.
As of July 1st, Uzbekistan's banks held $18 bn in deposits. Compared to the previous month, the volume of deposits decreased by $162 714 825, and since the beginning of the year, it decreased by $1,2 bn.
The majority of the outflow of funds came from legal entities, which withdrew over $665 495 025 from their accounts. Since the beginning of the year, the outflow of business funds exceeded $2,2 bn.
Deposits from the population increased last month by $502 mn In the first half of the year, the volume of deposits from individuals grew by more than $973 mn.
In June, state banks lost deposits amounting to $1 bn, and the decline over six months reached close to $2,5 bn. However, such a significant reduction in deposits in state banks is due to the fact that starting from June, the Central Bank listed "Ipoteka Bank" as private, as the Hungarian OTP Bank closed the deal to acquire nearly 75% of the state's stake in "Ipoteka Bank."
Among state banks, NBK became the leader in deposit outflow, losing $198 mn. Following are Asakabank ($82 mn), Uzpromstroybank ($66 mn), and Agrobank ($49 mn).
Due to the privatization of "Ipoteka Bank," the volume of deposits in private banks increased by $1,3 bn. Hamkorbank attracted additional deposits of $31 mn. Capitalbank also managed to increase the volume of deposits by $29 mn, while Orient Finance Bank gained $20 mn and Davr Bank received $9 mn.
However, KDB Bank experienced a decrease in the volume of deposits by $82 mn - mainly due to the outflow from legal entities, who withdrew over $86 mn from their accounts.
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