China's “Alma Finance Bank” Has Become the Largest Among Kyrgyzstan's New Banks (Updated)

Revised June 22, 2026: Following the publication of an article in *Akchabara* stating that the Chinese “Alma Finance Bank” had become the largest among Kyrgyzstan’s new banks, the National Bank of the Kyrgyz Republic and Alma Finance Bank CJSC reported a technical error in the regulatory reporting published in the NBKR’s bulletin for the first quarter of 2026. It was precisely this data that the editorial team used when preparing the initial version of the article.

After the inaccuracy was identified, Alma Finance Bank CJSC submitted corrected reports, and the National Bank updated the statistical information on its official website.

According to the revised data, Alma Finance Bank’s paid-in charter capital amounts to 1 billion KGS, not 2 billion KGS as previously reported, of which 755 million KGS is foreign capital. Thus, in terms of capital size, the bank is not the largest among the new market entrants but is on par with Asman Bank and Bereket Bank, each of which also has an authorized capital of 1 billion KGS.

The capital of “Asman Bank,” established with funds from Cypriot investor Mikhail Kuzovlev, amounts to 1 billion KGS. “Bereket Bank” has the same amount of capital; its founders include the president’s youngest son, Nordöölöt Nurgjoev, and former Speaker of Parliament Marat Sultanov.

At the same time, two of the three new banks were established with foreign capital. In Asman Bank’s capital structure, foreign investments account for 100% of the paid-in capital—1 billion KGS. At Bereket Bank, the entire capital of 1 billion KGS was also formed through domestic investments.

However, the National Bank’s statistics do not yet include data on two other new banks that entered the market after the end of the first quarter. These are “Kylim Bank” and “Muras Bank,” which received their banking licenses on May 13, 2026.

Both banks have already announced the formation of their capital. Thus, the state-owned “Kylim Bank,” whose sole shareholder is the Ministry of Finance of Kyrgyzstan, was established with an authorized capital of 1 billion KGS, with plans to increase it further.

The privately owned “Muras Bank,” also founded by Cypriot investor Sergey Ents, registered an initial public offering of shares worth 1.4 billion KGS back in the fall of 2025. Thus, its capital initially exceeded the minimum threshold set by the National Bank for obtaining a banking license.

Consequently, “Muras Bank” has the largest authorized capital among the newly established banks.