Published
08/21/2026, 10:28Recently the newly established “Muras Bank” ended the first half of the year with a net loss of 44.1 million KGS. This is evident from the bank’s published financial statements.
The bank’s interest income amounted to 4 million KGS, whilst interest expenses reached 4.5 million KGS. As a result, the net interest loss stood at 437,000 KGS.
The bulk of the costs were attributable to the bank’s set-up and launch. Staff costs amounted to 14.3 million KGS, with administrative expenses at the same level; rent for fixed assets totalled 5 million KGS, and other operating expenses amounted to 10 million KGS.
The bank specifically noted that the financial result was affected by an initial contribution of 10 million KGS to the Deposit Protection Agency. This amount corresponds to almost 23 per cent of the net loss for the half-year.
By the end of June, Muras Bank’s assets stood at 1.61 billion KGS, down by 41 million KGS, or 2.5 per cent, since the start of the year. Capital fell by 44.1 million KGS to 1.45 billion KGS. The authorised capital, however, remained at 1.5 billion KGS.
Around 84 per cent of the bank’s assets, or 1.35 billion KGS, were held in accounts and deposits with the National Bank. The loan portfolio is not reflected in the published balance sheet as at 30 June. Furthermore, between 19 and 30 June, the bank placed overnight deposits totalling 1.39 billion KGS with the National Bank of Kyrgyzstan.
‘Muras Bank’ was only granted a licence to conduct banking operations on 13 May 2026. Consequently, as at the reporting date, it had been operating as a licensed bank for less than two months. However, the profit and loss account covers the entire first half of the year, including the period of preparation for the launch.
The sole owner of Muras Bank is Sergey Entts, a Cypriot national, who holds 100 per cent of the shares.
