Published
07/02/2026, 08:53FinanceCreditBank has a new major shareholder. According to published information, Tashtemir-uuu Erkin has become the owner of 11.709% of the bank’s common registered shares. The changes took effect on June 29—the same day the bank completed its latest recapitalization.
As previously reported by “Akchabar”, on June 29, a transaction was registered on the Kyrgyz Stock Exchange (BTS) for the issuance of 120 million additional shares with a par value of 1 KGS each. As a result, the bank’s authorized capital increased from 904.8 million KGS to 1 billion 24.8 million KGS. This enabled the bank to comply with the National Bank of Kyrgyzstan’s requirements, effective July 1, regarding the minimum authorized capital for operating commercial banks, set at 1 billion KGS.
Calculations show that the new shareholder’s stake is practically equal to the amount of the recapitalization. After increasing the authorized capital to 1 billion 24.8 million KGS—which corresponds to 1 billion 24.8 million shares with a par value of 1 KGS each—the 11.709% stake amounts to approximately 119.96 million shares. This almost exactly corresponds to the volume of additional shares issued, totaling 120 million, which suggests that it was Tashtemir uulu Erkin who became the main investor in the additional issuance and enabled the bank to meet the regulatory requirements of the National Bank of Kyrgyzstan (NBKR) in a timely manner.
According to public sources, Tashtemir uulu Erkin had previously been associated with the bank. In 2012, he was a member of the revamped board of directors of the then-OJSC “FinanceCreditBank KAB,” formed by a resolution of an extraordinary shareholders’ meeting. However, according to the bank’s latest prospectus, published prior to the recapitalization, he is not currently a member of the bank’s governing bodies.
It should be added that, according to the bank’s prospectus for the first quarter of 2026, prior to the additional share issuance, the ownership structure was almost entirely concentrated in the hands of a single shareholder. 99.997% of the capital was owned by the insurance company “A Plus,” and the remaining 0.003% was distributed among 13 owners, three of whom were legal entities and ten of whom were individuals.
