International Activity

Bank gave due attention to the development of relations with its correspondent banks both in Uzbekistan and abroad, timely responding to the changes of tendencies.

Asaka Bank evaluates its activity related with supporting correspondent relations not only from its own perspective, but also from the perspective of its clients. The Bank was able to create optimal terms and conditions for its clients during 10 years of its activity due to efficiency, economic soundness of payment procedures, timeliness and competitive pricing.

While expanding co-operation and improving the quality of its services the Bank regularly extends its correspondent network. By the end of 2005 the Bank had correspondent relations with 170 leading banks in the world. Through its network of correspondent accounts in largest foreign banks Asaka Bank has secured its presence in the primary world's financial centers. Today the Bank maintains correspondent relations with leading banks in the USA, United Kingdom, Germany, Austria, Japan, Netherlands, Switzerland, South Korea and others.

Asaka Bank is going to continue to strengthen its position further on local and international markets, giving consideration to the quality, reliability by using individual approach of developing mutual relations with other banks.

Development of relations with financial institutions of the world is has traditionally been one of the priority directions of the Bank's activity. The main focus in development of relations with the international financial institutions are the issues of medium and long term financing of investment projects, short term financing of trade finance operations, exchange of information and experience in different aspects of international banking, participation in professional training programs, etc.

For the purposes of trade financing the Bank has attracted a number of credit lines from foreign banks directed to support financing of export-import operations of the Bank's clients. Asaka Bank participates in EBRD's Trade Facilitation Program, and has a direct access to credit lines of such banks as JP Morgan Chase, Bank Gesellschaft Berlin, Dresdner Bank, Commerzbank, CITBANK, ING Bank, and others. These facilities are extensively utilized by the Bank for financing export-import operations under favorable terms and conditions.

As an active member of Association of Development Finance Institutions of Asia and the Pacific, as well as the Asian Bankers' Association the Bank has participated in numerous events, Annual Meetings, conferences and seminars organized by these institutions. Planning for the future Asaka Bank intends to continue strengthening its positions in the international financial markets giving special attention to quality, speed and reliability of settlements, using an individual approach to development of mutual relations with partner banks.