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Abstract
This article evaluates the impact of digital financial technologies on the financial performance of commercial banks from both theoretical-methodological and practical perspectives. Scientific literature on technological development, fintech, and banking efficiency is systematized. Based on data for 2021–2025 from the Central Bank of the Republic of Uzbekistan, the International Monetary Fund, and other official sources, a comparative analysis is conducted of digital activity and indicators of banking system profitability, cost efficiency, and asset quality. The volume of retail transactions conducted through mobile banking applications increased from UZS 58 trillion to UZS 645.6 trillion (11.1-fold), while the number of remote banking service users grew from 30.0 million at the beginning of 2023 to 48.4 million by September 2024. At the same time, between 2022 and 2024, banking system expenses grew faster than revenues (88.2% and 75.8%, respectively), and ROA declined from 2.6% to 1.4% before recovering to 2.2% in 2025. The findings indicate that the effects of digitalization emerge with a time lag, following a J-curve pattern. A digital intensity index, panel regression, and a DEA model are proposed for bank-level assessment, and recommendations are developed.
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