According to the financial inclusion index released by the Central Bank of Uzbekistan, nearly one in three individual borrowers in the country is simultaneously repaying multiple loans. Specifically, such borrowers account for 29% of all borrowers, with an average of 1.7 active loans per borrower.

The Central Bank's data shows that 20% of the adult population holds an active credit account at a bank, while another 7% use microfinance institutions. The credit bureau has data on 98% of Uzbekistan's adult population.

The Central Bank also noted that 80% of new retail loans are processed through an automated credit conveyor. The credit product availability index stood at 64 points out of 100, while the actual usage level was 47 points.

The regulator intends to strengthen control over the aggregate debt burden of borrowers, accelerate data exchange among lenders, and introduce more accurate models for assessing clients' solvency.

Earlier reports indicated that over the past year, the volume of loans issued to the population grew by 21.2%, approaching 231 trillion soums. The Central Bank expressed concern about citizens' ability to repay debts on time.

Source: podrobno.uz