Bakai Bank sets up first Central Asian bank in APAC

This comes as the Kyrgyz lender secured a banking licence from Hong Kong.

Kyrgyzstan-based Bakai Bank has obtained a Hong Kong banking licence from the Hong Kong Monetary Authority, making it the first Central Asian bank to have a presence in Asia-Pacific (APAC).

The Kyrgyz bank will establish a Restricted Licence Bank branch in the city under Bakai Bank Open Joint-Stock Company (Hong Kong Branch), or Bakai Bank Hong Kong.

The branch will serve growing trade, investment and capital demand along the Central Asia-APAC economic corridor under the Belt and Road Initiative.

Andreas Meletiou, CEO of Bakai Bank Hong Kong, said the city is well positioned to connect East and West and facilitate cross-border financial activities.

Meletiou added that cross-border banking needs along the Central Asia-APAC corridor remain underserved, with Bakai Bank Hong Kong positioned to support corporates and financial institutions with trade, payments, and treasury solutions.

The licence comes after Invest Hong Kong (InvestHK) secured Bakai Bank’s interest in expanding to Hong Kong during its visit to Central Asia, including the Kyrgyz Republic.

Alpha Lau, Director-General of Investment Promotion at InvestHK, said the move supports the city’s “four centres and one hub” vision under the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030).

The plan aims to drive high-quality economic development and global competitiveness.