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JSCB Kapitalbank and Commerzbank AG have signed a strategic partnership memorandum
5 Jun 2024
As part of the 8th meeting of the German-Uzbek Business Council, the largest private bank in Uzbekistan Kapitalbank and the German Commerzbank signed a memorandum of partnership. The banks plan to cooperate not only in the development of financial products, but also in organizing joint events and sharing experiences.

— The signing of the memorandum testifies to the trust of our international partner and strengthens our position in the international market. This cooperation is an important step in the development of trade and economic relations between Uzbekistan and Germany, as well as in the implementation of Kapitalbank's innovation and growth strategy, — says Sardor Ismailov, First Deputy Chairman of the Board of Kapitalbank. — By combining our capabilities with Commerzbank, we will be able to offer our customers even more new products and services.

The purpose of the agreement is to establish and develop further mutually beneficial and long-term cooperation between the parties in the field of business and finance development between the Republic of Uzbekistan and Germany.

— The development of international relations with leading financial institutions in different countries is a long-standing practice of Commerzbank AG. Uzbekistan is one of our strategic partners, — says M-me Ketevan Antidze, Head of the Commerzbank AG representative office in Tashkent. — I am sure that cooperation with Kapitalbank, one of the leaders of the country's financial sector, will help us create new business development opportunities for entrepreneurs and companies in our countries.

About JSC “Commerzbank”
Commerzbank is a German banking concern, the second largest private bank in Germany in terms of assets. Commerzbank is represented in more than 40 countries around the world. The bank's final balance sheet by the end of 2023 amounted to 517 billion euros.
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