Asia Universal Bank
Asia Universal Bank (AUB) wins the award again this year due both to continued impressive growth during 2002 and its technological sophistication in the fledgling Kyrgyzstan banking market.
AUB’s assets rose more than fourfold in 2002 after the bank attracted several big international and national clients. Its assets now total 4% of Kyrgyzstan’s gross domestic product (GDP), making it the biggest bank in the sector. It increased net profits and Tier 1 capital by 60% during the year.
The bank’s level of technological sophistication is equally impressive. It is the only institution in the country that offers internet banking. In 2002, it rolled out a money transfer platform that customers without an account can use. Usage of the product, and the profit derived from it, have exploded. Since unveiling debit cards in August 2001, AUB has come to dominate that market with a 50% share.
“The year 2002 was more than successful for our bank. Our staff of only 80 colleagues have shown that they are able to manage assets equivalent to 4% of Kyrgyzstan GDP. We are proud of their achievements,” said marketing manager Renat Abdrasilov.
