International Finance Corporation (IFC) and Uzbekistan Lessors’ Association published a review of leasing sector of Uzbekistan.
Accordingly, share of the banking sector in leasing market made up 35.2% in 2008. The bank inked 1,344 shares and leased property for US$ 93.6 mln in 2008. The growth rate comprised 16.7%. Leasing portfolio of the bank in 2008 reached US$ 293.2 mln or 47.3% of total portfolio of leasing market players.

Share of leased property in leasing operations of the bank rose from 17% in 2007 to 35% in 2008, production equipment from 19% to 22%, agriculture equipment – 19.5%. Key lessors of agriculture equipment were Microcredit Bank and People’s Bank.

Average leasing term in Uzbekistan made up 2.4 years and average size of leasing deal was US$ 44,600. But this figure varies based on lessors. For example, Alp Jamol Bank, Asaka Bank, Bank Ipak Yoli, Credit Standard Bank, Uzpromstroybank and Trust Bank carried out leasing deals with average cost of US$ 245,000.

Interest rates of the banks depended on refinancing rate of the Central Bank of Uzbekistan, which was 14% in 2008 and currency of leasing operation. About 47% of lessors carried out operation both in national currency and hard currency.

Interest rates in national currency were between 14% and 25% and in hard currency were between 12% and 22%. Average advanced payment in leasing operation was 20% and higher.
Only three banks – Asaka Bank, Ipoteka Bank and Microcredit Bank – covered almost all regions of Uzbekistan with leasing services.