Kyrgyz people are increasingly less likely to use and hold dollars

The level of dollarization in Kyrgyzstan’s banking sector continues to decline. According to the National Bank, as of the end of March, the share of foreign currency loans had fallen to 18%, while the share of foreign currency deposits had dropped to 31.3%.

The most significant decline occurred in the deposit portfolio. While the dollarization rate of the deposit base stood at 34.8% at the beginning of the year, it has since fallen by 3.5 percentage points. This indicates that Kyrgyz citizens are increasingly choosing to keep their savings in the national currency.

Dollarization of the loan portfolio also continued to decline, albeit at a more moderate pace. Since the beginning of the year, the figure has decreased by 0.3 percentage points—to 18%.

Against the backdrop of the ongoing somization of the banking sector, both deposit volumes and lending are growing.

The total deposit base of bank customers reached 916.5 billion KGS. Compared to the start of the year, it increased by 50.3 billion KGS, or 5.8%. At the end of 2025, the volume of deposits stood at 866.2 billion KGS.

Lending is showing even higher growth rates. The banking sector’s loan portfolio has grown by 33.1 billion KGS since the start of the year, or by 6.5%, reaching 540.1 billion KGS. At the end of last year, this figure stood at 507 billion KGS.

Thus, banks continue to simultaneously increase both the volume of funds attracted from households and businesses and the volume of loans issued.