Abstract
In the context of the digital transformation of financial markets, one of the topical issues in the development of the banking system of the Republic of Uzbekistan is to increase the level of its competitiveness. Documents that define the strategy for the development of the banking sector of the Republic of Uzbekistan until 2025 are devoted to this problem. The main tasks in them are to increase the competitiveness of domestic banks and develop a competitive environment. The article discusses the theoretical foundations of the functioning of competition as an economic phenomenon that occurs in the banking competitive environment, as well as defines the features of banking competition. Its structure is described, manifestations of the development of competition in the financial market in Uzbekistan are noted, indicators of the competitiveness of the banking system are assessed.
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