China's Alma Finance Bank has become the largest of Kyrgyzstan's new banks

Alma Finance Bank, established with the participation of Chinese investors, has topped the ranking of new banks in Kyrgyzstan by capitalisation. These figures were released by the National Bank at the end of the first quarter of 2026.

According to the regulator’s reports, Alma Finance Bank’s paid-up share capital has reached 2 billion KGS. This makes it the most capitalised among the new entrants to the banking sector.

By way of comparison, the capital of Asman Bank, established with funds from Cypriot investor Mikhail Kuzovlev, stands at 1 billion KGS. Bereket Bank has the same amount of capital; its founders include the president’s youngest son, Nurdöölöt Nurgozhoev, and former speaker of parliament Marat Sultanov.

At the same time, two of the three new banks were established with foreign capital. In the capital structure of Asman Bank, foreign investment accounts for 100% of the paid-up capital – 1 billion KGS. At Alma Finance Bank, however, the share of foreign capital is half. At Bereket Bank, the entire capital of 1 billion KGS is also formed from domestic investment.

Moreover, in terms of capital size, Alma Finance Bank has already overtaken a number of long-established market players. According to data from the National Bank, it exceeds the figures of ten commercial banks, including EcoIslamicBank (1 billion KGS), Tolubay Bank (934 million KGS), Eurasian Savings Bank (1.16 billion KGS), as well as a number of other credit institutions that have been operating in Kyrgyzstan for many years.

However, the National Bank’s statistics do not yet include data on two further new banks that entered the market after the end of the first quarter. These are ‘Kylim Bank’ and ‘Muras Bank’, which received their banking licences on 13 May 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 a share capital of 1 billion KGS, with plans to increase it further.

The private Muras Bank, also established by the Cypriot investor Sergei Ents, registered an initial share issue worth 1.4 billion KGS back in autumn 2025. Consequently, its capital initially exceeded the minimum threshold set by the National Bank for obtaining a banking licence.