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  • The Head office of the Kyrgyz Investment and Credit Bank (KICB) in Bishkek, Kyrgyz Republic.
  • KICB currently serves over 415,000 clients through a network of 39 branches located across all provinces of the Kyrgyz Republic.
Economic development

To stimulate long-term economic growth in the country, the Aga Khan Fund for Economic Development (AKFED) partnered with the Kyrgyz Government and international financial institutions to establish the Kyrgyz Investment and Credit Bank (KICB). Its shareholders are: Government of Kyrgyz Republic, AKFED, Habib Bank LTD, Deutsche Investitions und Entwicklungsgesellschaft GmbH (DEG), EBRD and International Finance Corporation (IFC).

AKFED is one of the founders and a principal shareholder of the Kyrgyz Investment and Credit Bank (KICB), established in 2001. As of August 2016, KICB’s shareholders’ equity amounted to US$ 58.5 million, including the charter capital of US$ 17.5 million, making KICB the largest capitalized bank in   Kyrgyz Republic. KICB currently serves over 415,000 clients with a customer deposit base of US$ 249 million.

The Bank has the one of the largest network, including 140 ATMs, 39 branches (in all oblasts of the country), with headquarters in Bishkek.  The Bank employs over 800 people. KICB was recognized as the Best Commercial Bank of the year in 2013 and 2014 by  Banker magazine and the Best Bank in Kyrgyz Republic in 2015 by  EUROMONEY. In line with its core activity, KICB invests in  long- and medium-term projects in Kyrgyz Republic’s main economic sectors, including agriculture, manufacturing, construction and light industry. Since its establishment, KICB has expanded into the retail market, becoming one of the top two commercial banks with total deposit base of US$ 249 million and one of the top three banks with gross loan portfolio of US$ 148 million as of August 2016.

In line with regulators policy to increase the share of non-cash settlements and transactions, KICB also is the second biggest shareholder at the national processing center IPC (Interbank Processing Center), after the National Bank of the Kyrgyz Republic. KICB is actively promoting local and international banking cards such as ELCARD, VISA and UnionPay International.

In 2013, KICB expanded its product line with insurance services through the  subsidiary "Jubilee Kyrgyz Republic Insurance Company" (JKIC). JKIC has launched  life insurance policies -- a new product in the market. In 2013, KICB pioneered the issuance of corporate bonds among the commercial banks of banking sector with the purpose of supporting the national currency, and increasing capital market liquidity, in line with regulator’s policy. KICB has invested into establishment of its own Training Center, which has trained over 200 bankers, thereby growing the pool of bankers in the country.

In June 2014, KICB launched "ELSOM electronic wallet" to provide banking products even in very remote areas. ELSOM facilitates  payment transactions. Users can receive and send money transfer internally and abroad.  They can open bank/card accounts, link them to e-wallet and manage through mobile phone, or use e-wallets as deposit tool. Since its launch, over 250 000 users have  created "Elsom" wallets reflecting a growing interest in the local population in innovative and reliable financial services systems.. There are more than 3,300 service agents throughout the country providing Elsom banking services through electronic wallets for non-cash goods and services sale.

KICB  also offers student loans and financial literacy courses. In line with "Global Money Week", which is held worldwide, KIBC together with partners conducts training for children on financial literacy. KICB also funded the printing of 485 books in the braille font and 175 books in large type on the  "History of Kyrgyzstan" for disabled children (blind and deaf) in Bishkek and Osh.. KICB and partners initiated a Green Foundation to support the growth of the city in an ecologically responsible way. KICB’s efforts in the field of Corporate Social Responsibility were recognized by the International Business Council (IBC) with  "Green Awards" in 2015.