In 2024, Uzbekistan’s UZCARD payment system recorded a net profit of 955.7 billion UZS (approximately $74 million), marking a 63% increase compared to the previous year. Earlier, it had been reported that the HUMO payment system achieved a net profit of 168.3 billion UZS (around $13 million) for the same period.
According to the audited financial report published by the Unified Republican Processing Center JSC (which operates the UZCARD system), the company’s net profit for the year amounted to 955.7 billion UZS—368.9 billion UZS, or 62.9%, higher than in 2023.
For comparison, only four banks in Uzbekistan—O‘zmilliybank, Hamkorbank, O‘zsanoatqurilishbank, and Kapitalbank—earned higher net profits than UZCARD in 2024.
The company’s total revenue reached 1.3 trillion UZS during the year. Its total assets increased by 199.4 billion UZS (or 37%) to reach 736.2 billion UZS. UZCARD’s total equity also rose, reaching 590.6 billion UZS. However, the company’s liabilities doubled, amounting to 145.7 billion UZS by year-end.
These financial indicators are based on a report verified by the independent auditing firm Ernst & Young.
As of December 31, 2024, UZCARD’s ownership structure was as follows:
- “IMC Capital” LLC – 75%
- Kamron Anvarovich Akbarov – 25%
IMC Capital is fully owned by Berill Holding Company Limited, which in turn is owned by Emerald Global Foundation. As a result, Emerald Global Foundation and Kamron Akbarov are the joint owners of UZCARD.
Previously, UZCARD had reported net profits of over 660 billion UZS in the first nine months of 2024.
It is worth noting that HUMO’s net profit for 2024 reached 168.3 billion UZS, which is 54 billion UZS (or 47%) more than in 2023.
