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With a population of just 5.21 million people producing a GDP of a mere $3.7 billion, Kyrgyzstan is not going to be home to any really large financial institutions. The biggest bank in Kyrgyzstan, with $130 million in deposits accounting for a 22.1 % market share, is Asia Universal. It is also the best performer. It is Kyrgyzstan’s fastest-growing mortgage provider and is the only Kyrgyz entity to have received an international credit rating. Total shareholders’ equity rose 212% to $36.5 million in the past year, while net income climbed 246% to $2.7 million. In both of those measures, as in total assets and customer accounts, Asia Universal is by far the country’s leader. It is also the first bank to offer internet banking services, and the only one to establish a dedicated control and compliance department. It is also competitive regionally, with branches in the Ukraine, Kazakhstan and Latvia, as well as a representative office planned for China later this year.

Ansher Capital is the leading investment bank in Uzbekistan, and the flagship of its parent, Singapore-based Ansher Holding group. Ansher has pioneered a number of new instruments and transactions in Uzbekistan, including corporate bonds, M&A and equity private placements. The bank now holds leadership positions in all three. In 2007, Ansher played a leading role in attracting international investors to the Uzbek securities market, from such countries as Germany, the UK, Sweden, Russia and the US. Ansher also advised on the establishment of hedge funds with a focus on the central Asian region, such as the Central Asia Property Fund, which are entering the region thanks to improved conditions in the traditionally difficult, closed economies of Uzbekistan and other central Asian countries. The shareholders of Ansher Holding group are keen to facilitate further growth by going public in the near future, and Ansher Capital will have a key role to play in accomplishing that.

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