ASIAUNIVERSALBANK
The Kyrgyz Republic’s largest bank, AsiaUniversalBank (AUB) continued to build its asset base and in 2005 produced record profits, with net profits rising by 70%, and achieving an improved RoE of 10.3%.
Following asset growth of 113% in 2004, it continued to expand by 28% in 2005, restructuring client channels and launching several deposit and credit programmes that brought the bank increasing market share.
AUB implemented the country’s first internet banking platform, received the country’s first international credit rating, established several new offices in the country and abroad, and is recognised by the Kyrgyz Stock Exchange as the most transparent financial institution in the country.
Chairman Mikhail Nadel says: “We are very happy to receive yet another award from The Banker, recognising our achievements in building the Kyrgyz Republic’s best bank. 2006 is proving to be yet another successful year for AUB, as we remain the largest bank in the country by total assets and deposit base. We are further strengthening our market leading position through rapid growth of our corporate and retail operations, expansion of our office network and further enhancement of our internet banking platform.
“We also continue our tradition of being the flagship Kyrgyz bank, benchmarked by the rest of the country’s banking sector. In 2005, AUB became the first bank in Kyrgyzstan to establish a dedicated compliance and control department, and to apply international anti-money laundering practices to its operations. This year, it became the first financial institution in Kyrgyzstan to obtain an international credit rating, when we were rated by Moody’s Investors Services.”
