There are still 21 commercial banks in Kyrgyzstan, despite applications from new entrants

As of 1 August, 21 commercial banks continue to operate in the banking system of Kyrgyzstan. This data is provided in the updated information from the National Bank.

Despite the stated interest from new players, the market structure remains unchanged. As is known, three banks are awaiting licences: Asman Bank, which submitted its application last year, Muras Bank and Kylim Bank, a project created specifically to serve operations on the stock market.

Interestingly, Kylim Bank, which is being created by the Cabinet of Ministers, has not yet been registered with the Ministry of Justice, unlike the other two applicants for a licence from the National Bank of the Kyrgyz Republic.

It should be recalled that the decision to establish it was taken by the Cabinet of Ministers back in early January this year. At that time, the Cabinet of Ministers instructed the Ministry of Finance to ensure the necessary procedures, including licensing and registration.