Standard Chartered supports Asakabank with RMB 770 million syndicated loan and expanded RMB collaboration
London, 11 September 2026 – Standard Chartered has acted as Sole Mandated Lead Arranger on a RMB 770 million syndicated loan for Asakabank, supporting growing trade and investment flows between Central Asia and China and the increasing use of RMB in cross-border financing.
The facility marks Asakabank’s first RMB-denominated syndicated loan and Standard Chartered’s third transaction with the Uzbekistan-based bank. Proceeds will be used by Asakabank to support clients importing goods from China, helping facilitate cross-border trade along the Uzbekistan-China corridor.
The transaction forms part of a broader collaboration between Standard Chartered and Asakabank focused on RMB-related business and cross-border opportunities.
As part of this relationship, Standard Chartered and Asakabank recently signed a Memorandum of Understanding (MoU) at the 11th Belt and Road Summit in Hong Kong which took place on 9 and 10 September, covering cooperation in RMB business and corridor opportunities. The MoU builds on the two institutions’ existing relationship and complements Asakabank’s plans to open an RMB account with Standard Chartered in Hong Kong.
Amin Semmari, CFO, Asakabank, said: “Trade ties between Uzbekistan and China continue to strengthen, driving growing demand for RMB-denominated financing solutions. This transaction reflects the strong commitment of both Asakabank and Standard Chartered to supporting these flows and facilitating cross-border business. We look forward to further strengthening our partnership with Standard Chartered and supporting the continued development of trade and economic cooperation between Uzbekistan and China.”
Lucy Rahal, Executive Director, Public Sector Coverage, Standard Chartered, said: “This transaction reflects the growing role of RMB in facilitating trade and investment flows between Uzbekistan and China. The loan and broader collaboration with Asakabank reflect increasing demand for RMB solutions linked to cross-border business activity and growing commercial links between China and Central Asia.”
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For further information please contact:
Julien Moity
Communications Director, Europe
Standard Chartered
Email: Julien.moity@sc.com
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