The operational capabilities of Asakabank were studied
Tashkent, Uzbekistan (UzDaily.com) – On 3 August 2022, Deputy Prime Minister - Minister of Investments and Foreign Trade of the Republic of Uzbekistan Jamshid Khodjaev got acquainted with the activities and operational capabilities of Asakabank.
In particular, it was noted that in the 2nd quarter of this year, the Bank’s assets amounted to the equivalent of US$4.6 billion, and the loan portfolio was equivalent to US$3.3 billion, with a capitalization of US$600 million.
It was announced that Asakabank has a correspondent network with more than 40 foreign banks in the US, the European Union, the UK, China, Korea and Japan, as well as over 20 trade finance lines with an annual turnover of more than US$1 billion. The Bank has been assigned international credit ratings BB- (Fitch Ratings) and B1 (Moody’s). The Bank’s external funding portfolio amounted to more than US$2.1 billion.
The Deputy Prime Minister got acquainted with the progress of the transformation process of Asakabank in the field of digitalization, corporate governance, risk management, treasury, retail business and HR, as well as with the activities of the Project Office, which is the coordinating center for all projects within the framework of transformation and privatization. The capabilities of proprietary systems for risk monitoring (Risk Assessment System) and treasury reporting (Treasury Management System) were demonstrated.
As a result of the visit, relevant recommendations were given on the activities of the Project Office, including in terms of continuing work on digital transformation and improving the efficiency of its operations.