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Keremet Bank in 2023: profit increased 2.6 times

The financial indicators of the Keremet Bank Open Joint Stock Company have shown stable growth in recent years: if in 2021 the profit amounted to 22.6 million soms, in 2022 – 359.3 million soms, then in 2023 – 958.7 million soms. These and other achievements are reported by the bank's press service. 

“Institution for Economic Development” 

The draft law “On the acquisition by the Cabinet of Ministers of the Kyrgyz Republic of a block of shares of the Keremet Bank Open Joint Stock Company from the National Bank of the Kyrgyz Republic” after the first reading was approved by the Jogorku Kenesh on January 31, 2024.

The document was initiated by the Chairman of the Cabinet of Ministers. It states that the Cabinet of Ministers intends to purchase shares of Keremet Bank OJSC owned by the National Bank (97.45%) outside the stock exchange by direct transfer of funds to the account of the financial regulator.

It is interesting to note that the financial indicators of the bank as of July 31, 2023 are shown in the background statement to the draft law. So, it is written that if on December 31, 2021 net profit amounted to 22.6 million soms, then on December 31, 2022 it amounted to 359.3 million soms. The accumulated loss (losses of previous years) as of December 31, 2021 amounted to 2.27 billion soms, and as of December 31, 2022 – 1.9 billion soms.

Meanwhile, as of December 31, 2023, net profit is 958.75 million soms, and the accumulated loss decreased relative to previous years and amounted to 955.48 million soms. Thus, the actual profit exceeded the loss.

The Cabinet of Ministers believes that after the purchase of shares of Keremet Bank, it becomes an asset, an additional institution for economic development, implementation of government programs and lending to priority sectors. In recent years, Keremet Bank makes a profit, fulfills all economic standards in accordance with banking legislation, carries out its activities as usual and provides a full range of banking services, has an extensive regional network and a developed infrastructure of banking equipment, is a participant in the national payment system Elkart, the background statement says.

Financial indicators 

(in thousands of soms) 

For more information about the bank's financial statements, please follow the link . 

Mortgage loans

Deputy Chairman of the Cabinet of Ministers Bakyt Torobaev participated in the ceremony of handing over the keys to the owners of apartments in a nine-storey residential building built on Ankara Street in Bishkek as part of the Keremet Bank project and State Mortgage Company OJSC

The large-panel object of the 108th series was constructed in pursuance of the protocol instruction dated February 18, 2022 of the Presidential Administration “On the implementation of the housing program of the Kyrgyz Republic “My House 2021-2026” regarding the organization of residential zones for housing construction in cities and mechanisms for its financing”, as well as on the basis of the General Agreement on Cooperation 19-04-2022-GS dated April 30, 2022 between State Mortgage Company OJSC and Keremet Bank OJSC.

Bank Awards

The state official newspaper “Erkin-Too” awarded Keremet Bank OJSC with the Kyrgyz Brandy–2023 award. This award was presented by Deputy Chairman of the Cabinet of Ministers Edil Baisalov at a ceremony on August 25, 2023 in Bishkek.

Banking support of contracts

Last year, the premieres of the TV series “Choochun Kishi”, “Zhalbyz-2”, “Chypalak Bala”, “Muras”, filmed with the bank support of contracts from Keremet Bank, took place. These film series were created by private film studios commissioned by the state institution “Creative Production Association “Kyrgyzserial”.

Banking support of contracts is a complex of banking services for government customers of the Kyrgyz Republic, which allows to control the targeted use of budgetary funds in the execution of concluded contracts. Any company that wins the tender can apply to Keremet Bank OJSC and receive service during the execution of the contract.

New opportunities for clients

In 2023, holders of Visa cards from Keremet Bank OJSC, were able to make contactless payments via Google Pay using Android smartphones with NFC support.

The financial institution has entered into a friendly network with Aiyl Bank and RSK Bank: now it is possible to cash out funds from Elkart cards for individuals at ATMs of these institutions at the rates of Keremet Bank.

ESG

Keremet Bank became a member of the Green Alliance of Kyrgyzstan Association. The bank has adopted the Sustainable Development Strategy of Keremet Bank OJSC for 2023-2024, the Environmental–Social–Corporate (ESG) program. The concepts of “green” financial products have been approved – “Ecoteplo”, “Ecodrive”, “Bilim–omur chyragy”.

Keremet Bank participated in the Green Waste Leaders – 2023 event organized by the ESG Central Asia agency and received the certificate of conformity “Best Waste Management Practice” from WasteNet.kg.

Sponsorship and charity

Keremet Bank Open Joint Stock Company provided sponsorship for the Muras futsal tournament, which was attended by the President of the Kyrgyz Republic Sadyr Zhaparov on December 8 and 9.

On the eve of Victory Day, Keremet Bank handed over food packages to war veterans and workers on the home front.

Thanks to the funds allocated by the Bank to the Federation of Mountaineering and Sports Climbing of the Kyrgyz Republic, the youth team from Kyrgyzstan participated in Open Climbing Competitions in Moscow (Russian Federation) from September 7 to 10.

The Bank also provided sponsorship in the form of sports equipment to a boxing gym in the Keneshnvillage, Issyk-Ata district, Chui region.

License No. 049 of the NBKR