BISHKEK, Kyrgyzstan, October 2. Commercial banks in Kyrgyzstan issued loans totaling 110.205 billion soms ($1.2 billion) from January through June 2023, which is a 41.5 percent increase compared to the same period last year, Trend reports.
Data from the State Statistical Committee of Kyrgyzstan shows that the growth during this period was observed in loans allocated to consumer needs – up by 12.833 billion soms ($144 million), trade sector – up by 9.112 billion soms ($102.7 million), and agriculture –an increase of 5.021 billion soms ($56 million).
The loan portfolio of commercial banks amounted to 228.572 billion soms ($2.5 billion) as of July 1, 2023, which is a 22.3-percent increase compared to the same date last year.
The main share of the loan portfolio was allocated to the wholesale and retail trade sector (27.9 percent of the total), agriculture and consumer needs (18.3 percent each), mortgage purposes (11.5 percent), industrial sector (5.7 percent), and construction (5.4 percent).
More than half of the loan portfolio of commercial banks was held by borrowers in the city of Bishkek.
The income of Kyrgyzstan's commercial banks from January through June 2023 reached 39.739 billion soms ($447 million), increasing 40.9 percent compared to the same period last year.
During this period, Kyrgyzstan's financial sector included 640 organizations, comprising the National Bank, 23 commercial banks, 601 non-banking financial and credit organizations, and 15 insurance companies.