In 2024, the National Bank earned more than in the previous four years

The National Bank of Kyrgyzstan ended 2024 with record growth of assets and profit. According to the statement of financial position, total assets of the NBKR increased by 104.07 billion KGS (23.3%) compared to 2023, amounting to 550.1 billion KGS. The main factors contributing to this growth include an increase in monetary gold reserves and active investments in securities.

The main driver of asset growth was the increase in monetary gold reserves, which grew more than 2.1 times to 278.26 billion KGS compared to 127.41 billion KGS a year earlier. This emphasizes the strategy of the NBKR on diversification of reserves.

The volume of investments in securities also increased significantly. Investments in securities at fair value increased by 14.4 billion KGS to 50.74 billion KGS, while investments in securities at amortized cost almost doubled from 10.2 billion KGS to 20.3 billion KGS.

However, not all assets showed growth. Non-monetary gold and reserves in gold decreased by KGS 53.47 bln. This may be due to reallocation of assets or realization of part of reserves.

On the background of assets growth, the bank's liabilities also increased. The most significant growth occurred in the item “Funds of banks and other financial organizations”, which increased by 69.32 billion KGS and amounted to 128.32 billion KGS.
One of the most impressive indicators is the growth of the National Bank's profit by almost 3.7 times. At the end of 2024, the profit amounted to 45.7 billion soms, while in 2023 this indicator was at the level of 12.4 billion KGS.

However, this growth is not limited to the comparison with 2023. The profit obtained in 2024 exceeded the total financial result of the National Bank in the four previous years (2020-2023.). For comparison, in 2020, the NBKR's profit amounted to 6.96 billion KGS, in 2021 - 12.98 billion KGS, and in 2022 - 10.19 billion KGS. Thus, the cumulative profit for four years was lower than the result achieved for one year 2024. Not a small role in this was played by the favorable situation in the world gold market.

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