Tashkent, Uzbekistan (UzDaily.com) -- Microcreditbank has temporarily suspended the issuance of commercial loans, the press service of the bank said in a statement.

The bank notes that this decision was made in connection with the growth of problem loans.

The bank's message says that Microcreditbank in the near future will resume the allocation of loans at the expense of the returned funds.

Microcreditbank said that the restrictions do not apply to concessional loans that the bank issues under government programs.

As of 1 July 2021, according to the Central Bank of Uzbekistan, the volume of problem loans of Microcreditbank is 6.2% or 643 billion soums (the bank’s loan portfolio is 10.33 trillion soums).

Earlier, Khalq Bank announced the suspension of commercial loans due to the growth of problem loans.