The deadlines for the privatization of Uzbekistan's three largest banks have been postponed once again.

The privatization of these financial institutions has been postponed several times. Initially, the state shares of "Uzpromstroybank" were supposed to be sold by the end of 2022, but the deadline was later extended to the end of 2023.

It was later planned to reduce the state's stake to less than 50% by the end of 2024, but this did not happen. Currently, the key shareholders of the bank remain the Reconstruction and Development Fund of Uzbekistan (82.19%), the Ministry of Economy and Finance (13.48%), "Uztransgaz" (1.21%), and others (2.26%).

As for "Asakabank," the privatization was initially scheduled for the end of 2023. In May 2024, the president announced the signing of an agreement with the European Bank for Reconstruction and Development regarding this matter.

The main shareholders of "Asakabank" are the Reconstruction and Development Fund (88.22%), the Ministry of Economy and Finance (10.85%), the Bukhara Oil Refinery (0.73%), "Uzavtosanoat" (0.1%), "Uzagrosugurta" (0.08%), and "Uzbekinvest" (0.02%).

The privatization of "Alokabank" through an IPO has also been postponed. According to the initial plan, the placement of shares on the stock exchange was to take place by July 1, 2023; however, the deadline has now shifted to January 1, 2025. The main shareholders of the bank are the Reconstruction and Development Fund (61.8%), "Uzbektelecom" (22.03%), the Fund for the Development of Information and Communication Technologies (6.3%), the Ministry of Economy and Finance (4.32%), the State Unitary Enterprise "Center for Electromagnetic Compatibility" (2.11%), and others (3.44%).