History of Asaka Bank

Asaka Bank, a state joint-stock commercial bank, was established on  November 7, 1995. It is considered to be one of the largest financial institutions in Uzbekistan.

During recent years, the Bank has not only become the leader among the banks of Uzbekistan in terms of performance indices, but has also entered the 1,000 largest banks in the world. According to the results of a nationwide bank rating, Asaka Bank took a leading position: the 2nd place according to scale of operation and the 1st place according to adequacy of capital.

Initially, the Bank focused on the development and support of the automotive industry and improvement of its structure. The work in this industry resulted in construction of several large factories producing component parts for automobiles manufactured by JV “UzDAEWOOAvto”. Previously these parts had been supplied from abroad. The construction was financed by Asaka Bank.

As a result of its activities, the Bank has been reorganized from a specialized bank to a modern universal one, whose main strategy is to broaden the range of financial services offered in accordance with international standards, improve the management structure, attract foreign investment, further develop relations with foreign banks, and ensure favourable conditions for successful use of foreign credit lines.
Today Asaka Bank is a full service bank in dynamically growing financial market of Uzbekistan.
The Bank is a member of Uzbekistan Banks’ Association, Asian Bankers Association (ABA), Association of Development Financial Institutions in Asia and Pacific (ADFIAP), SWIFT, Reuters, Western Union, as well as principal member of "Europay MasterCard" by means of which renders additional kinds of card services for the population and corporate clients.

In 2004 – 2005 Asaka Bank became «The Best Bank of the Year in Uzbekistan» by version of magazine “Euromoney”, also in 2004 Asaka Bank won by nomination «Environmental Protection» - Project «Improvement of water supply in Bukhara region, Uzbekistan» - Project «Suvokova» by assessment ADFIAP.