By Klavdiya Romakayeva - Trend:
BAKU, Azerbaijan, Feb. 15
Deutsche Bank has recently closed two transactions in Uzbekistan, acting as Initial Mandated Lead Arranger for Xalq Bank’s (People's Bank) inaugural syndicated loan facility and sole bilateral lender for Asaka Bank, Trend reports citing Deutsche Bank.
It is reported that Deutsche Bank has allocated a total of $192.5 - Xalq Bank ($102.5 million) and Asaka Bank ($90 million).
It was noted that both transactions were firsts for financial institutions (FI) headquartered in Uzbekistan. They were also firsts for Deutsche Bank and are a testament to the efforts of country management and the Global Emerging Markets (GEM) business, part of the Investment Bank, to deepen the bank’s already strong ties to FI clients in the country.
Deutsche Bank noted that recent political and market-friendly reforms have put Uzbekistan firmly on the radar of the international investor community, including a number of Deutsche Bank’s own institutional clients.
The bank’s GEM team has taken advantage of this trend by advising on multiple transactions as a result of these reforms and the generally positive outlook for the region, despite obvious challenges posed by the ongoing COVID-19 pandemic.
Deutsche Bank has been active in Uzbekistan since 1993, providing export credit agency-backed financing, correspondent banking, trade finance, and liquidity management solutions to local financial institutions, as well as closely working with the country’s central bank.
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