The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
AwardsBest Bank Awards

Uzbekistan's best bank for SMEs 2022: Asia Alliance Bank

Asia Alliance Bank

Few banks in Central Asia have managed to build as strong and progressive a franchise in such a short period as Asia Alliance Bank. Since 2009, it has moved up the ranks based on its market share for small and medium-sized enterprises. Today, SMEs account for more than 67% of the bank’s loan portfolio.

Most of Asia Alliance’s focus is on the SME trade business, which got a boost from an agreement signed with the Asian Development Bank in 2020. The ADB’s trade finance programme is aimed at offering guarantees and loans to more than 200 partner banks worldwide to support firms involved in the full range of import and export operations.

Umidjon Khakimov, who was first deputy chief executive of Asia Alliance at the time, was the point-person on the partnership. Khakimov notes that the ADB alliance endorses the bank’s leading role in Uzbekistan’s economic reform process by promoting local entrepreneurs and family businesses, and creating new jobs.

Khakimov was made acting chief executive in October 2021. His executive team continues to strengthen the bank’s position in securities, foreign exchange, plastic cards, cash management services and the resources market.

The