Tashkent, Uzbekistan — [12/02/2026] — Uzum, Uzbekistan’s leading digital ecosystem, today reported unaudited financial and operating results for 2025. Uzum ended the year with a net profit of $176 million, despite continued heavy investment in platform expansion.
Gross merchandise value (GMV) across Uzum’s e-commerce platforms exceeded $500 million, up 1.5x year-on-year, while total volumes across its fintech products including consumer instalments and lending reached $1.2 billion, nearly tripling compared to 2024.
Uzum’s performance reflects consistent execution of its long-term strategy focused on building core infrastructure including logistics, payments, credit scoring and digital banking rather than short-term growth. This approach has enabled the group to scale rapidly while maintaining profitability across its core businesses.
Our focus has always been on building core infrastructure, which includes payments, logistics, risk models and digital banking, and supporting sustainable growth for years, not quarters. The results we’re seeing today are a direct outcome of that strategy. Uzum is becoming a foundational platform for commerce and financial services in Uzbekistan.
Fintech drives growth and financial inclusion
Fintech remained the ecosystem’s fastest-growing vertical in 2025. Uzum issued more than 4 million payment cards in 2025 and launched online deposits, which attracted over $50 million in customer funds within three months of launch.
Total payment volume across the ecosystem more than doubled year-on-year to $11.1 billion, supported by increased adoption of cashless payments and deeper integration between commerce and financial services.
E-commerce scales nationwide
In 2025, Uzum’s e-commerce platforms continued to expand both supply and reach. The number of active local sellers surpassed 17,000, while the company’s marketplace assortment exceeded 100 million SKUs following the launch of cross-border offerings.
To support scale, Uzum expanded its logistics footprint to 1,500 pickup points in more than 450 locations nationwide, combining company-owned and partner-operated sites. New seller models and digital tools lowered barriers for small businesses to enter online commerce and operate transparently.
Banking and SME services strengthen the ecosystem
In 2025, Uzum’s banking assets demonstrated strong momentum. Kapitalbank, part of the Uzum group, grew its loan portfolio to $3.1 billion and deposits to $3.7 billion, reinforcing its position as Uzbekistan’s largest private bank. Lending to small and medium-sized enterprises increased 1.7x year-on-year, supported by digital onboarding and integrated payment solutions.
Alongside physical and financial infrastructure, Uzum has made machine learning (ML) a core component of its operating model. The company actively deploys
These models allow Uzum to assess creditworthiness more accurately, dynamically price products and financial services, and scale lending and payments while maintaining loan portfolio quality, which is a critical capability in a fast-growing emerging market.
Uzum plans to continue to invest in technology, data infrastructure and new financial products as it expands its role in the country’s digital economy.