The Kyrgyz Investment and Credit Bank (KICB) was established in 2001 with share capital of USD 7 million. By the end of 2007 the share capital of the bank was increased to USD 10 million. In 2010 Board made decision to increase the Capital of the bank up to USD 17,5 million. This demonstrates strong evidence of bank shareholders’ confidence in the bank future development. Its shareholders are international financial institutions (90%) and the Government of the Kyrgyz Republic (10%).
Since its establishment, a primary objective of the bank has been to make a contribution to the development of the economy of the Kyrgyz Republic by providing the Kyrgyz private sector with medium to long-term financing. Despite increasing competition KICB continues to be the market leader in providing medium to long-term financing in the private sector. Since its establishment, around 120 loans worth about USD 30 million have been approved and about 64% of the credit portfolio is medium and long-term loans. Loans to the manufacturing sector comprise more than 55% of total loans and the remaining portion of the credit portfolio is spread among tourism, agriculture and trade. KICB is expecting further growth in loan book by increasing its credit portfolio by USD 15 million annually.
In addition to lending, KICB provids deposit products, current accounts, money transfers and foreign exchange operations. In 2006 the bank launched retail banking operations and offers mortgage and consumer loans, small and medium business loans.
The bank’s rate of growth is mainly attributable to KICB's innovative and customer-oriented approach. High quality service is assured by offering customers personal attention and support in finding the best business solutions.
- High quality banking services and commitment to long-term relationships with customers.
- The leader in medium and long-term lending owing to its share capital and continuing support from international shareholders.
- International standards of corporate governance and transparency of operations.
- Proficient management team, headed by an international expert with extensive bank management experience.
- Highly professional personnel largely educated and trained in foreign banks abroad.