Cooperation between OJSC “Guarantee Fund” and partner banks
- Posted by: test
- Category: Digest
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.