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The Best Bank of the Kyrgyz Republic 2018 / 19.12.2018

KICB received one of the most prestigious awards “Bank of the Year 2018” from the Banker Magazine under the Financial Times. “Bank of the Year” award from “The Banker” is awarded to banks in different countries that have achieved significant financial results, demonstrating their skills in developing new products, services and introducing new technologies, as well as ensure high profitability for its shareholders.

In its publication “The Banker” notes that KICB has won the award “Bank of the Year 2018 in Kyrgyzstan” thanks to refocusing its strategy towards its customers, upgrading its IT system based on Oracle, constantly offering different innovative products and by making substantial progress on resuming correspondent banking relations with US commercial banks.

KICB is the first Bank in the Kyrgyz Republic to launch its own electronic wallet – ELSOM. By introducing this pioneering product the Bank is addressing very critical issue of penetration of financial and banking services in a vast rural and remoted area in the country. Today ELSOM e-wallet users have access not only to standard payments, such as utility bills, payment in retail outlets and money transfers, but also to a wide range of banking services. Most recently KICB introduced its latest functionality to its ELSOM users which allows obtaining express loan remotely without need to visit the Bank. Customer can obtain express loan simply by applying through the ELSOM mobile application and loan will be issued directly to the e-wallet in several minutes.

“KICB is committed to provide the latest technology, a high level of service quality, while maintaining system security. These areas are priorities for the Bank, where financial, structural and human resources are accumulated. We are grateful to customers and The Banker Magazine for a fair assessment of our activities in the Kyrgyz Republic. Recognition of KICB's achievements on the international financial market, shows that we are on the right track”, says Kwang Yang Choi, CEO of KICB.


CJSC Kyrgyz Investment Credit Bank (KICB) was established in 2001, becoming the largest commercial bank in Kyrgyzstan with an initial share capital of $ 7 million. The bank has a network of 17 branches and 22 sub-branches throughout the country, providing a full range of banking services. The bank’s shareholders are the Kyrgyz Republic (10%) and world-famous financial institutions (90%). The international shareholders include Aga Khan Economic Development Fund (AKFED) - 36%, Habib Bank Limited (HBL) -18%, German Development Bank (DEG) -12%, European Bank for Reconstruction and Development (EBRD) -12%, and International Finance Corporation (IFC) - a member of the World Bank Group - 12%

The Banker is an English-language monthly international financial affairs publication owned by «The Financial Times Ltd.» The magazine annually awards “The Banker Awards”, intended for the best financial institutions in the world. The rating of “The Banker” is considered the world generally recognized index of global banking institutions.