Economic Analysis of Factors Affecting Management Efficiency in Vertically Integrated Banking Groups

This article examines the financial and organizational foundations for assessing management efficiency, using Hamkorbank JSCB and its subsidiaries as a case study. The study aims to evaluate the growth of the banking group in relation to resource utilization efficiency, operating costs, and risk dynamics. The empirical database comprises consolidated financial statements, audit reports, securities issuance prospectuses, and statistical data from the Central Bank of the Republic of Uzbekistan for the period 2015-2025. The research employs dynamic analysis, financial ratio analysis, comparative document analysis, and the symmetric decomposition of changes in net profit into asset volume and profitability components. The economic performance of the banking group is assessed using return on assets, return on equity, the cost-to-income ratio, and credit risk indicators. The study examines the role of ownership control, the allocation of decision-making authority, financing arrangements, and service relationships between the parent bank and its subsidiaries in the group's management system. The findings indicate that an expansion in financial scale does not necessarily lead to consistent improvements in efficiency indicators. Based on these findings, an approach is proposed for evaluating management decisions by linking them to service delivery processes, resource consumption, and associated risks. The practical significance of the study lies in establishing verifiable economic criteria for assessing decisions concerning the allocation of authority, shared services, and resource utilization between the parent bank and its subsidiaries.