THE DEVELOPMENT OF DIGITAL BANKING SERVICES AND THEIR ASSOCIATION WITH COMMERCIAL BANK EFFICIENCY IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.23643908Abstract
This study provides a descriptive assessment of the expansion of digital banking services and payment infrastructure in Uzbekistan during 2020–2025, using Central Bank statistics, bank-level disclosures, and Global Findex data. Real instant payment volumes increased threefold between 2021 and 2025, rising from 38.5% to 75.1% of GDP. Six banks operating under a researcher-defined digital banking model accounted for 3.8% of total banking assets, 19.7% of payment cards, and 13.5% of payment terminal receipts. Real operating costs per recorded remote banking user declined from approximately UZS 659,000 to UZS 275,000, while operating costs relative to average assets increased from 2.59% to 3.61%. In 2024, only 49.9% of adults made or received a digital payment. The findings highlight a divergence between the expansion of digital banking services and aggregate cost efficiency, without establishing a causal relationship.Keywords
digital banking, remote banking, instant payment system, bank efficiency, operating expenses, financial inclusion, UzbekistanReferences
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