The Global Alliance for Banking on Values (GABV) is proud to welcome two new members: Ipak Yuli Bank in Uzbekistan and Baobab Banque Madagascar. Together, they bring the reach of the GABV into new territories and deepen its collective commitment to banking that serves people, communities, and the real economy.
Ipak Yuli Bank
Founded in Tashkent in 1990, Ipak Yuli is one of Uzbekistan’s oldest and most established private banks. It has been a pioneer throughout, introducing the country’s first international credit line, microfinance products, and payment cards in its early years. Today it serves over 2 million customers with total assets of around USD 2.3 billion, with a network of 17 branches, 48 banking service centres, and 27 retail cash offices across the country.
Ipak Yuli is the first bank in Uzbekistan to join the GABV — a milestone its leadership views as more of a commitment.
”Ipak Yuli Bank became the first bank in Uzbekistan to join GABV. For us, this is not just recognition — it is a responsibility.
GABV unites financial institutions worldwide that share core principles: impact & sustainability, real economy focus, client-centricity, transparency, and values-based culture. As a new member, we look forward to collaborating with international partners to help shape a more sustainable and inclusive financial system — in Uzbekistan and beyond.”
Martin Rohner, Executive Director of the GABV, welcomed the bank: “Guided by its 2025–2027 strategy, Ipak Yuli is strengthening digital services, expanding SME and corporate solutions, and embedding sustainability through a long-term ESG strategy aligned with national priorities and the UN Sustainable Development Goals.”
Baobab Banque Madagascar
Baobab Banque Madagascar has spent nearly two decades building financial access in one of the world’s most underserved markets. Founded as MicroCred in 2006, it obtained a full banking licence in 2010. Today, the bank serves more than 356,000 clients through 37 branches and 934 community access points across Madagascar. Its focus remains constant: micro-entrepreneurs, rural communities, women-led enterprises, and small businesses that conventional banking rarely reaches.
Its model is both physical and digital, combining branch presence with mobile payments, digital nano loans, and pay-as-you-go solar products through its subsidiary, Baobab+, recognising that financial resilience and energy access often go hand in hand. Part of the broader Baobab Group, which serves half a million clients across seven countries in Sub-Saharan Africa, Baobab Banque Madagascar brings to GABV a proven track record of inclusive banking at scale.
Martin Rohner underscored the significance of their membership: “Baobab Banque Madagascar has a long history as a microfinance institution and now a fully licensed bank, with a strong commitment to serving underserved individuals, micro-entrepreneurs, and SMEs. It prioritises financial inclusion, particularly for rural communities and women-led enterprises, contributing directly to poverty reduction, job creation, and access to essential financial services in Madagascar. “
About the GABV
The Global Alliance for Banking on Values (GABV) is a network of independent banks and banking cooperatives with a shared mission to use finance to deliver sustainable economic, social, and environmental development. Founded in 2009, the GABV comprises 74 financial institutions operating in 48 countries across Asia-Pacific, Africa, Latin America, North America and Europe. It serves more than 50 million customers, manages over USD 290 billion in combined assets, and employs 100,000 co-workers.
Meet the banks of the network and the countries where they operate: www.gabv.org/members
