• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12768.26
    • RUB162.63
    • EUR14400.04
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +17°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    Finance

    Uzbekistan's market soars with +86.5% growth, $30.3 bn in total assets

    Uzbekistan's market soars with +86.5% growth, $30.3 bn in total assets

    The Avesta Equity Index (AVEX) January 2024 report provided a detailed statistical analysis of the Tashkent Stock Exchange's performance. The report covers the 2023 annual rebalance, structural changes, and financial indicators, offering insights into the Uzbekistan financial market.

    Photo: Uzbekistan's market soars with +86.5% growth, $30.32 bn in total assets
    Source: Inspirar.io

    2023: Rebalance and Structural Changes

    The 2023 rebalance was a critical move for AVEX, marked by the exclusion of BRBN, UZMKP, and BNGA and the inclusion of UZMT, UNVB, and ALKBP. The rebalance strategy, along with improvements in calculation methods to exclude certain M&A transactions, aimed at a more accurate reflection of the market.

    Company Performance Analysis

    The trading volumes, number of deals, and year-over-year (YOY) closing price percentages provide a clear picture of individual company performances. UzAuto Motors (UZMT) showed a trading volume of $1.9 mn with 3,085 deals, while Universal Bank (UNVB) had a trading volume of $1.4 mn across 235 deals. These figures indicate a robust trading environment for these companies. Conversely, excluded companies like Biznesni Rivojlantirish Banki (BRBN) had a significantly lower trading volume of $11,023  and a higher number of deals at 6,119, suggesting less efficient trading.

    Comparison with Global Indices

    AVEX's dynamic growth of +86.5% in 2023 is notable when compared with global indices like S&P 500 and MSCI. This indicates a strong performance of the Uzbekistan market, contrasting with its -5.8% performance in 2022 and +54.9% in 2021.

    Top 20 Securities Performance

    The report highlights the closing prices and YOY percentage changes for the top 20 securities in 2023. Notably, Octobank (OCBK) showed a significant YOY closing price increase of 640.0%, while Biznesni Rivojlantirish Banki (BRBN) experienced a -39.5% change, justifying its exclusion from the index.

    Financial Indicators

    Detailed financial indicators like P/E ratio, P/B ratio, ROA, ROE, and EBIT margin are provided for each security. For instance, Universal Bank (UNVB) had a P/E ratio of 19.3, significantly higher than the median of 7.1, indicating a higher valuation relative to earnings. The ROE figures show a diverse range, with KAFOLAT Insurance (KFLT) at a high 69.5%, reflecting strong profitability relative to equity.

    Aggregate Financial Performance

    The aggregate financial data of AVEX companies show robust growth. The total assets grew from $12.8mn in 2021 to $30.3 in 2023. The equity and net profit also followed a similar upward trend, indicating a healthy financial ecosystem within the AVEX companies.

    The January 2024 report of the Avesta Equity Index offers a comprehensive view of the financial market's performance in Uzbekistan, highlighted by the annual rebalance, the robust performance of key companies, and significant growth compared to global indices. 

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

     

    12.01.2024, 00:00   Comments (0)   3789
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Uzbekistan adopts comprehensive crypto regulations, spurs market growth

    04.01.2024, 01:53

    Uzbekistan grants nine licenses for crypto service providers in 2023, quadrupling market presence

    05.01.2024, 22:36

    Central Bank of Uzbekistan revokes Kyongnam Bank’s accreditation  

    06.01.2024, 14:40

    World Bank forecasts 5.6% growth for Uzbekistan in 2024

    11.01.2024, 23:00

    Uzbekistan's electrical industry achieves over $1.9 bn production in 2023

    07.01.2024, 01:05

    Central Bank of Uzbekistan imposes restrictions on three banks' operations in December

    06.01.2024, 21:59
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?


    Beeline Uzbekistan started 2025 with a significant network modernization


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp

     

    Recommended

    "We wouldn’t have won without U.S. aid" – The hidden truths behind the USSR’s World War II victory

    12 May, 15:39

    Uzbekistan's banking deposits surge to $25.2bn in March

    8 May, 17:24

    Uzbekistan to host 59th ADB Annual Meeting in Samarkand for second time

    8 May, 11:26

    Uzbekistan sees rise in cross-border travel as outbound tourism jumps 20%

    7 May, 12:38
     
     
     

    Latest news

    Kazakhstan, Germany expand partnership in trade, energy, and investment

    Kazakhstan | 29 May, 17:25

    More than 4mn women and children face malnutrition in Afghanistan

    Afghanistan | 29 May, 15:32

    Uzbekistan and Italy sign agreements on investment, migration, and sustainability

    Uzbekistan | 29 May, 14:35

    Uzbekistan and Italy triple trade as partnership enters new phase

    Uzbekistan | 29 May, 13:42

    Uzbekistan, China sign cooperation agreements to unite road standards and boost digital innovation

    Uzbekistan | 29 May, 12:30

    Uzbekistan’s public debt reaches $42.43bn in 1Q25, up by $2.22bn

    Uzbekistan | 29 May, 11:28

    UN Women opens country office in Tashkent, Uzbekistan

    Uzbekistan | 29 May, 10:30

    Germany offers jobs to 50 Uzbek nurses with salaries starting at €2,800

    Uzbekistan | 29 May, 09:01

    Kazakhstan, Italy deepen trade and investment ties as bilateral turnover hits $4.4bn in 1Q25

    Kazakhstan | 28 May, 17:02

    Uzbekistan, WIPO to strengthen IP sector with new strategy and joint training program

    Uzbekistan | 28 May, 15:15
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.