Uzbekistan’s Central Bank has found that loans issued with third-party guarantees record the lowest delinquency rates, while property-backed loans show the highest share of overdue payments, according to a study by its Statistics and Research Department.
The analysis assessed repayment performance across different collateral and guarantee mechanisms, concluding that the type of loan security has a significant impact on delinquency levels.
Unsecured loans showed relatively high on-time repayment rates, largely because they are typically issued in smaller amounts. Delinquency in unsecured loans reached 15.3% among men and 12.2% among women. Loans backed by third-party guarantees also demonstrated strong portfolio quality, with delinquency at 7.2% for men and 3.9% for women.
In contrast, loans secured by property rights recorded the highest delinquency rates — 32.8% among men and 25% among women. For loans backed by insurance, the figures stood at 21.3% and 20%, respectively. Loans secured by real estate or salary showed average delinquency levels of 15–16%.
Loans issued with a co-borrower had lower delinquency rates compared to those without one. Among loans without a co-borrower, overdue payments reached 18.4% for men and 12.6% for women. When a co-borrower was present, the figures declined to 14.8% and 8.9%, respectively. If the co-borrower was male, delinquency stood at 11%, and 9.9% when female.
Differences were also observed by loan type. Unsecured consumer loans recorded a delinquency rate of 38.4%, while overdrafts stood at 21.7%. Auto loans backed by insurance or vehicles showed lower delinquency levels. Microloans issued with third-party guarantees recorded the lowest rate at 0.9%. Education loans maintained a stable delinquency level of around 2%, regardless of collateral type.
The study also found that borrowers with formal collateral had incomes on average 1.7 times higher than those relying on unsecured or guaranteed loans. In the microcredit segment, delinquency reached 7.8% for guaranteed loans, compared to 28.1–31.8% when backed by property or real estate.
The findings indicate that the structure of collateral and guarantee mechanisms plays a key role in credit portfolio quality and repayment performance.
Earlier, Uzbekistan’s credit bureau introduced new CIAC mobile app features allowing users to assess guarantor risks, monitor guarantee obligations and better manage their credit history as part of efforts to strengthen credit risk management.
The Central Bank also reported that average lending rates declined in early 2026, with micro loans at 30.8%, car loans at 23%, individual loans at 22.7% and business loans averaging 23.4%.
