On February 5, 2025, the meeting of the Leasing Association of Uzbekistan was held in the format of videoconference, at which the results of 2024 were summed up and priority areas for further development of the leasing industry in the country were outlined.
By the end of 2024, there were about 155 players in the leasing services market of the republic, of which about 37 lessors were actively engaged in leasing activities. The total portfolio of leasing operations for the reporting period amounted to more than UZS 8.8 trillion. In 2024, the lessors concluded more than 11 thousand new leasing transactions, their volume amounted to UZS 4.6 trillion, which is 18% more than 2023.
The average transaction value in 2024 was UZS 411 million , which is lower than in 2023 (UZS 522 million). Nevertheless, the number of transactions continues to grow, which indicates the expansion of market coverage and the increase in the number of customers.
According to the results of the year, agricultural machinery is the leader among the leased facilities, the share of which in the total structure of new leasing transactions was 67.6%. In the second place there is motor transport, which accounted for 13.6%, and the share of technological equipment – 10.2%. In turn, the rates of leasing construction machinery and equipment decreased and amounted to 5.5%. The volume of transactions related the real estate leasing amounted to 3.1%.
Among the leading lessors in terms of new transactions in 2024 there were:
• Uzagrolizing — UZS 2,390,8 billion
• Mikro Leasing — UZS 622,2 billion
• Hamkor Bank — UZS 388,3 billion
• Fincom Leasing Group — UZS 267,9 billion
• Uzbek Leasing International A.O. — UZS 205,4 billion
As for the regional distribution of new transactions, Tashkent city took the largest share (17.8%), followed by Kashkadarya region (10.3%) and Tashkent region (8.7%).
In the presentation, the Chairman of the Leasing Association of Uzbekistan Zafar Mustafaev highlighted the main problems and prospects for the development of the leasing industry, and also told about the main triggers that affected the leasing market. For example, the decrease in the share of car leasing is associated with the regularization of transport imports, and the decrease in the share of construction machinery is associated with the increase in duties on construction machinery and its non–inclusion in the Shaffof construction companies rating system.
The main directions of development of the leasing industry in Uzbekistan for 2025 have been identified as the:
• Development of new leasing products (including Islamic leasing, operational leasing);
• Expansion of sources of financing, access to the international financial market;
• Improvement of scoring models and risk management;
• Digitalization of the leasing company’s processes.
For the successful implementation of the set goals for the current year, the following speakers were invited:
• Yakubov Akhmad Yakubovich, Specialist of the Strategic Development Department, Entrepreneurship Development Company;
• Dadakhodjaev Murod Khasankhodjaevich, Chief Programmer, Digital Drive;
• Usanov Alexander Vladimirovich, Deputy Head of the Support Department, X-Keeper;
• Akhmadeev Rinat Akhtyamovich, Head of the Export Development Department, X-Keeper;
• Bilalova Madina Rafalievna, Chairman, HR Business Partners Association;
• Bozarov Shavkat Tadjibaevich, Director, Visola Consulting Company.
All participants of the meeting highlighted the importance of improving the legal and financial infrastructure of the leasing industry in Uzbekistan, as well as the introduction of innovative solutions aimed at optimizing leasing activities.
The full versions of the presentations are available at: https://drive.google.com/drive/folders/19Edg-HfwJ3I8QkkCjkiCdS-RjJjMD7vk?usp=sharing
