Kyrgyzstan plans to sell its stakes in two commercial banks

Kyrgyzstan plans to privatize state stakes in a number of companies, including two commercial banks. This initiative is outlined in the State Property Privatization Program for 2026–2028.

The document provides for the phased sale of assets that, according to the authorities, are not worth keeping in state ownership. The sale of equity stakes will be carried out in accordance with privatization legislation and taking into account the financial and economic condition of the entities, market conditions, and their development prospects.

Among the assets subject to privatization are state stakes in OJSC “Keremet Bank” and OJSC “Bakay Bank.”

This involves the sale of 0.74% of the shares in “Keremet Bank” and 1.26% of the shares in “Bakay Bank,” which are currently owned by the state.

The sale of these assets aligns with the objectives of Kyrgyzstan’s National Development Program through 2030, which calls for the development of the stock market and the attraction of capital into the economy through public offerings of shares and the issuance of corporate bonds.

The methods and timing of privatization will be determined by the authorized body for state property management. Independent appraisal companies are planned to be engaged to assess the value of the assets.

The nominal value of the stakes being prepared for privatization is currently estimated at 190.4 million KGS. Of these, 0.74% of Keremet Bank’s shares are valued at 64.37 million KGS, and 1.26% of Bakai Bank’s shares at 126 million KGS.