The Board of the National Bank of Kyrgyzstan has decided to issue a permit for the establishment of Kylym Bank JSC.
This is another state bank created by decision of the country’s authorities. Earlier, the corresponding resolution was signed by the Chairman of the Cabinet of Ministers Adylbek Kasymaliev.
According to the document, an open joint-stock company Kylym Bank was created with a 100 percent state share. The purpose of creating a new financial institution is to develop the banking sector and financial system of the Kyrgyz Republic.
The authorized capital of the bank will be 1 billion soms, the par value of one share is 1,000 soms. By 2027, the authorized capital of the new bank should increase to 5 billion soms.
Recall, there are four more state-owned banks in Kyrgyzstan: Aiyl Bank, RSK Bank, State Development Bank and Keremet Bank.
