Published
07/30/2025, 15:15The Kyrgyz deposit protection system continues to demonstrate steady development. At the end of the first half of the year, a new player officially joined the system: Microfinance Company Elet-Capital, which was included in the register in May 2025. This was reported to Akchabar by Kadyrbek Bukuev, Executive Director of the Kyrgyz Deposit Protection Agency.
As of 30 June, all commercial banks (author's note: at the end of June 2025, there were 21 banks operating in the country) and three microfinance organisations — Salym Finance, ABN and Elet-Capital — are participants in the deposit protection system.
According to the agency, the deposit base of participants in the deposit protection system continues to grow at a steady pace. In the first six months of the year, the volume of deposits in banks and microfinance companies increased by 109.2 billion KGS, which corresponds to 18% growth. The total volume of deposits at the end of June reached 715.1 billion KGS.
The Deposit Protection Fund, which is a key instrument for ensuring public confidence in the banking system, is also showing steady growth. Over the year from June 2024 to June 2025, the fund grew by 28% to reach 8.5 billion som. It grew by 6.8% over the quarter and by 13.8% over the half-year (at the beginning of 2025, it amounted to 7 billion 470.9 million KGS).
This indicates stable dynamics and effective policies to increase the insurance reserve.
In the second quarter of 2025, participants in the deposit protection system transferred 313 million KGS to the fund. This is 9.9% more than in the first quarter, when contributions amounted to 284.7 million KGS. Overall, in the first half of the year, revenues increased by 21.3%.
It should be noted that the fund is formed from several sources, in particular, accumulated mandatory contributions from participants in accordance with the Law ‘On the Protection of Bank Deposits,’ income from investment activities, as well as the founding contribution of the government of the republic.
