The assets of the banks being wound up are insufficient to cover their liabilities to depositors

At the beginning of the year, the total assets of banks undergoing liquidation in Kyrgyzstan did not cover their liabilities. According to data from the Agency for Bank Reorganisation and Debt Restructuring (DEBRA), assets amounted to 34.2 million KGS in the first quarter of 2025, while liabilities exceeded 2.17 billion KGS. This indicates a deficit of around 2.14 billion KGS.

This situation has persisted for many years.

The liquidation process includes AsiaUniversalBank OJSC and Ak Bank OJSC. Previously, this category also included Issyk-Kul IB OJSC and Manas Bank CJSC, but data on them are no longer taken into account. The liquidation of Manas Bank was completed in June 2023, in accordance with an order of the Ministry of Justice. The liquidation of Issyk-Kul IB was completed in March 2024 on the basis of a ruling by the Sverdlovsk District Court of Bishkek.

According to data for the first quarter of 2025, the volume of loans amounted to 47 million soms, but was fully covered by loan loss provisions in the same amount. Other assets include fixed assets of 22.4 million KGS and other property of 1.8 million KGS.

At the same time, the largest item of liabilities remains money owed to legal entities — 1.03 billion KGS, as well as other liabilities — 552.9 million KGS.

Thus, for several years now, the situation has persisted in which the assets of banks undergoing liquidation are insufficient to fully meet their obligations to creditors.