Development Trends in Deposit Operations of Commercial Banks in Uzbekistan: Analysis for 2017–2025
Abstract
This article analyzes the development trends of deposit operations in commercial banks of Uzbekistan from 2017 to 2025. Statistical data on deposit volumes, structure, interest rates, and the diversity of deposit products are examined. The research explores factors contributing to the increasing trust of individuals and legal entities in the banking system, as well as their growing financial literacy. The impact of Uzbekistan's legislation and the policies of the Central Bank on the expansion of the deposit base is assessed. The study indicates that the volume of total deposits in commercial banks has increased significantly, with notable growth stages observed between 2017 and 2025. The paper highlights the importance of diverse deposit products offered by banks, including demand, term, and savings deposits, with specific attention to their interest rates and market trends. It is found that while legal entities hold a larger share of deposits, the participation of individuals has also increased, reflecting greater financial literacy and trust in the banking sector. The analysis suggests that the Central Bank's interest rate policy has played a crucial role in encouraging deposits in national currency while maintaining low interest rates on foreign currency deposits. Based on the findings, the article proposes recommendations for improving deposit policies, including further diversification of deposit products and enhancing customer financial education.
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