Prospects for collaboration between ADM Global, Hyundai Capital, and Asakabank in advancing auto financing in Uzbekistan.

The main topic of the meeting was the discussion of cooperation prospects, experience exchange, and the implementation of innovative banking products in the auto financing sector in Uzbekistan.

Thanks to the reforms initiated by the President of the Republic of Uzbekistan, the country’s economy is demonstrating active growth, enhancing its investment attractiveness for international companies. This is evidenced by the visit of Hyundai Capital, one of the largest global financial institutions, and the meeting held with ADM Global and JSC "Asakabank," a leader in auto financing in the country.

Note: Hyundai Capital Services is a South Korean financial services provider, including auto financing, personal, and corporate financing. As a financial subsidiary of Hyundai Motor Group, the company operates in 12 countries, including Korea, the USA, the UK, China, and Germany.

At the meeting, President and CEO of Hyundai Capital in Russia and the CIS, Jae Won Lee expressed readiness to provide effective international solutions aimed at simplifying auto financing, improving customer conditions, and developing sustainable financial products.

In turn, representatives of ADM Global, the official distributor of Kia, Hyundai Truck & Bus, Chery, and Haval in Uzbekistan, highlighted the importance of introducing new financial instruments to stimulate sales of passenger cars and commercial vehicles.

Commercial Director of ADM Global, Alexey Kurenkov noted that “the development of convenient financial instruments is a well-formed need of today’s market. Previously, buyers were willing to pay for a car entirely from their own funds and wait several months for it. Today, due to the active development of competition in the new car sales sector, it is necessary to provide customers with comfortable payment conditions” .

JSC "Asakabank" expressed its readiness to adapt the best practices of Hyundai Capital to local conditions and participate in the development of auto financing programs that will make cars more accessible to the population. According to the participants, the collaboration will strengthen the financial infrastructure of the country.

“We are the leader in auto financing volume based on the interim results of 2024; the experience of our team and the developed IT infrastructure of the bank allows us to confidently say we are fully prepared to apply the best financing tools and programs from global practice,” – said Deputy Chairman of the Board of JSC "Asakabank," Bekzod Tangmatov .

The meeting concluded with an agreement to continue negotiations in early 2025. The next stage will involve developing practical steps to enhance the accessibility and transparency of auto financing in Uzbekistan. This will enable the population to purchase vehicles under more favorable conditions.

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