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  • Opening representative office of OJSC “Guarantee Fund” in Naryn region

    Guarantee funds are in active process of establishment throughout the Republic.

    On April 18, 2017 the meeting with Government Representative in Naryn region A.K. Kaiypov and his apparatus took place. Government Representative in Naryn region A.K. Kaiypov provided office in the building of FEZ “Naryn” for Representative Office of OJSC “Guarantee Fund”.

    A.K. Kaiypov and his deputy K. Asizov asked the Chairman of the Board of OJSC “Guarantee Fund” to provide assistance to 22 entrepreneurs in Naryn Region in Business Plan Development and its Promotion in banks of the Kyrgyz Republic for obtaining loans. If necessary, OJSC “Guarantee Fund” will provide guarantees for SMEs. During negotiations it was decided to hold investment forums on loans and guarantees.

    It should be noted that all Government Representatives in regions support SMEs. Cooperation with local state administrations and partner banks will let OJSC “Guarantee Fund” assist SMEs in obtaining loans with the help of guarantees and extend guarantee promotion system in all regions of the country.

    Cooperation between OJSC “Guarantee Fund” and partner banks

    OJSC “Guarantee Fund” (the Fund) in cooperation with banks provide entrepreneurs with access to finance for business promotion. In case of insufficient collateral, the Fund provides entrepreneurs with guarantees and contributes to obtaining loan in the necessary amount.

    To date, the Fund has seven partner banks:

    • OJSC “Aiyl Bank”
    • OJSC “RSK Bank”
    • OJSC CB “Kyrgyzstan”
    • CJSC “Bank of Asia”
    • CJSC “Finca Bank”
    • CJSC “Bank Kompanion”
    • CJSC “Demir Bank”

    Cooperation of the Fund with banks opens up broader loan market prospects, considering extensive regional network of partners and 180 branches.

     Performance indicators of partner banks of OJSC “GF” as of April 1, 2017:

    • Assets of partner banks constitute 46% of the banking system assets (Banking system assets – KGS 175 billion, assets of partner banks – KGS 80,5 billion)
    • Capital of partner banks constitutes 37% of the banking system capital (Own capital of the banking system – KGS 29 billion, own capital of partner banks – KGS 10,8 billion)
    • Loan portfolio of partner banks constitutes 48% of the banking system loan portfolio (The banking system loan portfolio – KGS 96,8 billion, loan portfolio of partner banks – KGS 46,6 billion)
    • Profit of partner banks constitutes 78% of the banking system profit (The banking system profit – KGS 242,8 million, profit of partner banks – KGS 189,8 million)
    • Branches of partner banks constitute 56% of the banking system branches (The banking system branches – 320, branches of partner banks – 180)

    These indicators characterize substantial meaning of partner banks of the Fund for the banking system of Kyrgyzstan. Their direct cooperation with the guarantee funds system, participation in SME support through loans contributes to successful economy development of Kyrgyzstan.

    For reference:  maximum guarantee amount is:

    • no more than KGS 7 million (equivalent to USD 100 thousand);
    • up to 50% of the loan amount.

    OJSC “Guarantee Fund” and CJSC “Demir Kyrgyz International Bank” concluded cooperation agreement

    On April 17, 2017 OJSC “Guarantee Fund” and CJSC “Demir Kyrgyz International Bank” concluded cooperation agreement.

    For OJSC “Guarantee Fund” it is the 7th cooperation agreement with banks. OJSC “Guarantee Fund” in cooperation with banks will assist SMEs of the Kyrgyz Republic in obtaining loans in case of insufficient collateral.

    Cooperation between OJSC “Guarantee Fund” and CJSC “Demir Kyrgyz International Bank” opens up new loan market prospects considering extensive branch network of the partner bank and increases access to finance for SMEs and further priority economic sectors development.

    To date, OJSC “Guarantee Fund”, in accordance with established aims, actively operates, realizes its objectives given by the Government of the Kyrgyz Republic and carries out its activities throughout the Kyrgyz Republic.

    For reference:

    Seven partner banks of OJSC “Guarantee Fund” have 172 branches on the territory of the Kyrgyz Republic, that contributes to providing assistance to entrepreneurs of the country.

    Opening representative office of OJSC “Guarantee Fund” in Talas and Batken regions

    Guarantee funds are in active process of establishment throughout the Republic.

    On April 12, 2017 Chairman of the Board of OJSC “Guarantee Fund” M.B. Abakirov had a meeting with Government Representative in Batken Region A.A. Halmurzaev.

    Domestic business promotion in Batken region became a matter of priority during the meeting, where SME issues were also discussed.

    At the end of the meeting it was decided to open Regional Representative Office of OJSC “Guarantee Fund” in Batken region and Government Representative in Batken region A.A Halmurzaev would provide an office space.  Orozov Akylbek Kurbanbekovich was appointed Regional Representative of OJSC “Guarantee Fund” in Batken.