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  • NBKR: “Assets of commercial banks in March 2020 amounted to 263 billion KGS”

    Assets of commercial banks in March 2020 amounted to 263 billion KGS. Such data is presented in the consolidated regulatory report of commercial banks of the Kyrgyz Republic. The report is published by the National Bank of the Kyrgyz Republic.

    In February, the assets of commercial banks amounted to 250.6 billion KGS, in January 250.7 billion KGS.

      2020  
    Consolidated regulatory report of commercial banks of the Kyrgyz Republic, million KGS 01 02 03
    ASSETS
    Cash 17 488,4 17 198,5 17 442,2
    Correspondent account in the NBKR 12 341,1 13 380,4 13 057,5
    Correspondent accounts in other banks 9 870,2 10 964,3 15 456,7
    Deposits in other banks 14 428,9 16 094,6 18 649,5
    Securities portfolio 26 656,6 26 943,9 20 935,8
    Securities purchased under repurchase agreements 368,3 290,2 442,8
    “Net” loans and finance leases 136 498,4 136 186,3 143 255,6
    Loans and finance leases to financial institutions/1 1 776,1 1 750,7 1 755,5
    Loans and finance leases to customers/2 145 780,9 145 305,3 153 748,7
    (minus) Special loan loss and finance lease payments -11 058,6 -10 869,7 -12 248,5
    Fixed assets 13 852,3 14 476,9 14 673,1
    Investments and financial participation 407,9 413,8 479,2
    Other assets 18 807,2 14 711,3 18 654,7
    TOTAL: ASSETS 250 719,2 250 660,2 263 047,0

     

    Note: Until 2012, a different report structure was applied, published in editions of the NBKR Bulletin until 2012.

    1/ include loans to banks and other financial and credit institutions to residents and non-residents.

    2/ include loans to legal entities and individuals to residents and non-residents.

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    EEC Minister A. Kishkembaev: The Commission and the government of the EAEU countries have developed documents on agreed measures to support entrepreneurs during pandemic

    EEC Minister A. Kishkembaev: The Commission and the government of the EAEU countries have developed documents on agreed measures to support entrepreneurs during pandemic

    At the VIII International Scientific Congress “Transformation of Entrepreneurship: New Technologies, Efficiency, Prospects” in Moscow, the head of the Secretariat of the member of the Board (Minister) for Economics and Financial Policy of the Eurasian Economic Commission, Askar Kishkembaev spoke about measures taken within the Union to ensure economic stability in the context of the increase of coronavirus infection pandemic, focusing on the adopted acts of the Union and Member States on this issue. Such information was posted on the ECE website on May 25.

    “The decisions taken will not only help stabilize the economic situation in the EAEU, but will also play an important role for the population of the Union countries,” A. Kishkembaev emphasized.

    The representative of the Commission also said that “in the conditions of countries introducing temporary restrictions, citizens who are in labor migration are in the category of the most vulnerable layers of the population. In this regard, the Commission, together with the countries of the Union, are developing measures for cooperation between the parties in field of healthcare and combating the spread of infectious diseases, which are planned to be implemented as part of the Strategic Directions for the Development of Eurasian Economic Integration until 2025. In addition, it is planned to discuss with the parties the creation of a system of social and medical support for citizens in a pandemic.”

    Kishkembaev also noted the study of the issue of strengthening the role of the Eurasian Development Bank and the Eurasian stabilization and development fund in the development and implementation of urgent anti-crisis and stabilization measures aimed at ensuring economic stability and financial support for business within the Union during the pandemic.

    The Commission, together with interested government bodies of the Union countries, is working on the search and refinement of approaches to regulating issues in the field of Internet commerce. “This new segment of foreign trade needs a new, comprehensive legal regulation,” A. Kishkembaev said.

    In conclusion, A. Kishkembaev informed the participants of the scientific congress about the online course on Eurasian integration, which the Commission plans to launch this summer.

    The Scientific Congress is organized by the Financial University under the Government of the Russian Federation. It was attended by Russian and foreign scientists, representatives of the business community, state authorities and municipal governments, public organizations.

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    Statistics of the NBKR: Key Indicators of the Banking Sector

    The statistics of the National Bank of the Kyrgyz Republic publish information on the main indicators of the banking sector of the Kyrgyzstan as of March 31, 2020.

    The statistics provides data on capital adequacy, liquidity, asset quality, profitability, loans and deposits, foreign currency position, and dollarization.

    As for profitability, by the end of March for the month, the net interest margin slightly decreased from 6.9 to 6.8%.

    The volume of classified loans increased from 11.6 billion KGS to 12.7 billion KGS.

    Key indicators of the banking sector (percent, unless otherwise indicated) 31.01.2020 28.02.2020 31.03.2020
    Capital Adequacy
    Net Total Capital / Risk Weighted Assets 22,7 22,7 25,1
    Tier 1 Net Capital / Risk Weighted Assets 21,2 21,0 23,1
    Leverage 17,4 17,6 17,0
    Liquidity Level
    Liquidity Ratio 69,0 68,7 67,0
    Correspondent account with the NBKR / Deposits of legal entities and individuals 14,0 11,6 14,4
    Excess of obligatory reserve requirements / Correspondent account in the NBKR 4,5 10,5 2,3
    Asset Quality
    Classified loans (to customers, million KGS) 11 788 11 654 12 761
    Classified loans (to customers) / Total loans (to customers) 8,1 8,1 8,3
    Special loan loss provision for loans / Total loans 4,7 4,5 4,8
    Special loan loss provision for loans / Classified loans 57,3 56,3 58,1
    Classified loans / Total assets 4,7 4,6 4,8
    Profitability
    Return on Assets (ROА) 1,1 1,3 1,3
    Return on Equity (ROE) 7,1 8,3 8,4
    Net interest margin 7,8 7,8 7,6
    Spread 7,0 6,9 6,8
    Service revenue and fee/ commission income 8,0 8,3 5,9
    Loans and deposits
    Loans (to customers) / customer deposits 100,2 100,9 101,5
    Loans (to customers) / assets 57,6 57,6 58,0
    Currency position and dollarization
    Currency position (million KGS) 1 069 1 400 1 101
    Loans (to customers) / Deposits (in foreign currency) 90,3 90,8 87,4
    Share of deposits in foreign currency from the deposit base* 39,4 39,1 43,5
    Share of loans (to customers) in foreign currency from the loan portfolio (to customers)** 35,5 35,1 37,4

     

    * Do not include deposits of banks, other PKU and deposits of the government of the Kyrgyz Republic.

    Loans are indicated with discount.

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    The Result of the Activities of OJSC “Guarantee Fund” for 4 months of 2020

    SUPPORT OF REGIONAL ENTREPRENEURS – PRIORIY AREA OF OJSC “GUARANTEE FUND”

    In the Year of Regional Development, Digitalization of the country and Child Support, OJSC “Guarantee Fund” carries out diverse creative activities to assist SMEs of the republic, providing them with guarantees for obtaining loans.

    The activities of OJSC “Guarantee Fund” contribute to the implementation of SME business plans, employment, reduction of migration, infrastructure and socio-economic development of the regions as a whole.

    Key Performance Results for 4 months of 2020

    • The equity of OJSC “Guarantee Fund” increased from 1.205 billion KGS to 1.225 billion KGS, increase of 102%.
    • 593 guarantees were issued which is 412% more than for 4 months of 2019.
    • 98% of guarantees were issued to the regions.
    • The sum of guarantees amounted to 204 million KGS, which is 91% compared to 4 months of 2019.
    • Net profit amounted to 20 million KGS, which is 183% more than in 4 months of 2019.
    • From 167% to 300% more guarantees in quantity were in issued, taking into account all regions, than in 4 months of 2019.
    • The amount of guarantees issued from 100% to 117% more than for 4months of 2019, taking into account all regions.

    Within the framework of the execution of the Decree of President, S. Zheenbekov, on declaring 2020 – the Year of Regional Development, Digitalization of the Country and Child Support, OJSC “Guarantee Fund” from the start of this year, and as of April 30, 2020 issued 593 guarantees in the amount of 204 million KGS, partner banks issued loans worth 1.1 billion KGS. It should be noted that 98% of guarantees were issued to the regions. From year to year, guarantees demonstrate an increase in quantitative and qualitative parameters.

    OJSC “Guarantee Fund” contributes to the reduction of migration, to the reduction of poverty, to the provision of employment for the residents of the regions. Due to the guarantee support of entrepreneurs, in total, 172 (2585 from 2016) new jobs were created in the republic for 4 months of 2020, 1392 (11 854 from 2016) existing jobs were supported.

    Women entrepreneurs received 203 guarantees in the amount of 62 million KGS. The share of women entrepreneurship in the total number of guarantees provide was 34 percent.

    As of April 30, 2020, two export-oriented projects received a total of 23 million KGS worth of guarantees.

    OJSC “Guarantee Fund”, taking into account the current economic situation in the country, in order to support SMEs – guarantors, approved the restructuring of 140 guarantees in the amount of 165 million KGS. We will continue to support entrepreneurs.

    OJSC “Guarantee Fund” continues the implementation of two cluster projects:

    • “Financing of the dairy sector in Issyk-Kul region” (World Bank project). The goal of the project is to provide farmers with funds for the purchase of cows and they are paid with a loan by selling milk. In total, loans were issued to 913 farmers in amount of 65 million KGS, and they provide an additional 12 to 15 tons of milk to dairy enterprises every day.
    • “Intensive Sheep Husbandry”. Soon, we will begin implementation, the coronavirus temporality suspended the implementation of the program “One District – One Enterprise”, which provides a great socio-economic effect.
    • Within the framework of the program “One District – One Enterprise”, as of April 30,2020, guarantee support was provided to 48 projects in the amount of 172 million KGS, the volume of loans under guarantees amounted to 534 million KGS.

    Over the 4 months of 2020, the specialists of OJSC “Guarantee Fund” trained employees of partner banks on the mechanisms for providing guarantees, with insufficient collateral for 181 loan officers. And also, in all regions of the country, 18 seminars for entrepreneurs and bankers were held. They were attended by 40 bank employees and 546 entrepreneurs.

    It is worth to note that the need for SMEs in guarantees is 40-50% of the loan portfolio of the banking system, this requires an increase in the capitalization of OJSC “Guarantee Fund” and, on the proposal of the NBKR, a decision is being prepared to increase the authorized capital of OJSC “Guarantee Fund” by another 1 billion KGS.

    Currently, the Government of the Kyrgyz Republic, together with international financial organizations (the World Bank, ADB, IFC, and others) is developing SME support programs and within them, Guarantee Fund” will use its assets and attract funds from these donors.

    NBKR: Gross reserves in April amounted to 2 billion 397.6 million USD

    According to the National Bank of the Kyrgyz Republic, in April 2020, gross reserves amounted to 2 billion 397.59 USD. At the same time, the liquid part amounted to 2 billion 313.76 million USD.

    Compared to March, gross reserves increased by 35.8 million from 2 billion 361.85 million USD.

     

    International reserves (end of period),

    million USD

    International Reserves
    Gross reserves Liquid part of reserves
    December 2 424,11 2 338,80
    January’2020 2 431,88 2 346,86
    February 2 394,06 2 310,29
    March 2 361,85 2 280,52
    April 2 397,59 2 313,76

     

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