Bai-Tushum Bank increases its charter capital up to KGS 790 mln.
The extra-ordinary assembly of Bai-Tushum Bank shareholders that took place on October 14, 2016 resolved to increase the charter capital by KGS 75 mln. for the purposes of strengthening the bank’s financial stability. Today, when all the necessary registration procedures have been completed, the Bai-Tushum Bank’s charter capital constitutes KGS 790 mln. Thus, the Bank’s increased charter capital exceeds the regulatory requirement of the National Bank of the Kyrgyz Republic pursuant to the Decree dated March 11, 2015, which states that the capital of operational commercial banks should constitute KGS 600 mln. by July 1, 2017.
“It’s not for the first time that the bank increases its charter capital. And regardless the challenging economic situation, which has been persisting for the second year already in our country, our international shareholders decided to support the Bank with the aim of further implementing the Bank’s development strategy”, – pointed out Bai-Tushum Bank’s General Manager Gulnara Shamshieva.
Bai-Tushum has been operating in the financial market for 16 years already. During this time the institution has confidently covered the dynamic development from the financial fund and microfinance company with deposit license to the one-stop Bank with a full-fledged banking license. Over this period the institution became one of the largest financial institutions in the Kyrgyz Republic with the total assets of KGS 7.1 bn. and the client base of more than 91 thousand clients.
Possessing the wide branch network, Bai-Tushum Bank renders a full range of financial services across the country to individuals and companies, promoting the deeper financial inclusion of Kyrgyz population.
In 2017 the bank is planning to increase its loan portfolio by 28%, and to continue implementing the programs, aimed at the support of agriculture through value added chain projects, as well as the projects pertaining to the introduction of energy saving technologies and support of women’s entrepreneurship.