Bakai Bank to become Hong Kong’s first Central Asian bank

Hong Kong will see its first Central Asian bank as Bakai Bank, one of the leading commercial banks in the Kyrgyz Republic, has received the regulatory authorization from the Hong Kong Monetary Authority to establish a restricted license bank branch in the city.

Bakai Bank also becomes the first bank from Central Asia to establish a presence in the Asia Pacific region, operating as Bakai Bank Open Joint-Stock Company (Hong Kong Branch), or Bakai Bank Hong Kong, at Quarry Bay.

Bakai Bank Hong Kong said the Hong Kong branch is purpose-built to enable and deepen capital and trade flows between Central Asia and Asia Pacific. Riding on the momentum of the Belt and Road Initiative, it said it is dedicated to meeting the trade, investment and capital needs along this vital corridor.

“Hong Kong is Asia's preeminent super-connector – uniquely positioned to connect East and West, and to facilitate the cross-border financial activities that define our franchise,” said Andreas Meletiou, chief executive of Bakai Bank Hong Kong.

He noted that despite the Central Asia-APAC corridor expanding rapidly, cross-border banking needs remain underserved, and the bank will help address this gap by supporting corporates and financial institutions with trade, payments and treasury solutions.

Director-general of Investment Promotion, Alpha Lau, said the arrival of Bakai Bank injects fresh momentum into Hong Kong's financial ecosystem, unlocking potential opportunities in global offshore yuan business, international asset and wealth management, gold trading, and beyond.

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