“Kygyzaltyn” is considering setting up its own bank

Kyrgyzaltyn Open Joint-Stock Company is considering the possibility of establishing its own bank. This issue was brought up for discussion by the company’s board of directors, as indicated in the agenda for the December 2025 meetings.

The idea of establishing a bank could be a step toward diversifying the operations of the largest state-owned mining company and strengthening its financial division.

No information has been disclosed regarding the decision made on this matter by the shareholders—the State Agency for State Property Management (99.7758%) and the Ministry of Finance (0.2242%).

The initiative is being discussed against the backdrop of active expansion in Kyrgyzstan’s banking sector. Currently, there are 24 banks operating in the country, three of which entered the market between December 2025 and February 2026—Bereket Bank CJSC, Alma Finance Bank CJSC, and Asman Bank CJSC.

And the market continues to expand. Several more players may enter the market in the near future—Muras Bank, Kylym Bank, and Pochta Bank—which are awaiting their licenses.