BNP Paribas Investment Bank (France) has been awarded the tender announced by the State Property Committee’s Tender Commission for the valuation of 51% shareholding in Asaka State Joint-Stock Commercial Bank.

The parties are now negotiating the details of the contact, a source at the State Property Committee of Uzbekistan said.

As reported earlier, according to the state privatization and denationalization programme, Asaka Bank is to be sold to private investors by 2009 through open tenders.

Asaka State Joint-Stock Commercial Bank has been operating in the financial sector of Uzbekistan for over 10 years. Founded in 1995, it is now the second largest bank in the country both in terms of capital and assets. The bank positions itself as a large universal financial-crediting institution offering a wide range of traditional and innovative banking services.

Asaka Bank is an active participant of foreign economic cooperation. It assists the process of attracting foreign direct investments for the development of the key sectors of the national economy. It has been recognized as the "Best bank of the year in Uzbekistan" by EuroMoney, Global Finance and The Banker several times.

BNP Paribas is a French bank, one of the main banks in Europe and the world. BNP Paribas is the largest bank in the Eurozone by total assets and second largest by market capitalization according to The Banker magazine. BNP Paribas was created 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. Together with Societe Generale and Credit Lyonnais now LCL, it is part of the "three old" banks of France.