“Keremet Bank”: the bank rehabilitation measures of the NBKR give positive results
The Chairman of the Management Board of OJSC «Keremet Bank» TOKTOGUL Rysbek, who has headed the financial organization from January of this year, shared the interim results of the bank activities:
«Despite the fact that the pandemic year of 2020 turned out to be problematic for many companies’ businesses, «Keremet Bank» has coped with all challenges with dignity. The financial indicators as of the last reporting date demonstrate a dynamic development of the bank. I can confidently say that «Keremet Bank» has recovered from the past losses and for the first time in recent years made a profit which amounted to 30.7 million soms as of May 31, 2021 (for the same period last year, the bank had a loss in the amount of 172 million soms)».
A key impact on the financial indicators was made by the bank rehabilitation measures of the NBKR and competent decisions of the management. After rebranding in 2019 and gradual capitalization «Keremet Bank» has noticeably strengthened its position in the market of the country.
«If the situation in the market does not change for the worse, «Keremet Bank» will be able to generate profit on a monthly basis, ending 2021 with a stable market position and positive indicators», - Rysbek Toktogulovich is convinced.
All tendencies lead to the fulfillment of this forecast.
- Having nowadays the largest share capital among the commercial banks of Kyrgyzstan – 8.6 billion soms, «Keremet Bank» is one of the most risk-free financial institutions in the market of the country.
- The Bank provides jobs for more than 550 citizens of the country and regularly replenishes the budget, being a large taxpayer: in 2020 – 130 million 751 thousand soms, for five months of 2021, taxes were transferred in the amount of 47 million 528 thousand soms.
- Today, «Keremet Bank» which is present in all regions, is trusted by more than 150 thousand loyal clients and their number is constantly growing.
- Gradually, the quality of loans is recovering, over the five months of this year, the Bank has significantly increased the volume of its loan portfolio, increasing it by more than 300 million soms and bringing it to 7 billion.
- Due to the wide regional presence developed technical infrastructure (more than 600 modern devices - ATMs, payment, and POS-terminals – installed as a part of the digitalization in the most remote districts of the country), as well as modern technologies, residents of all regions can use banking services of «Keremet Bank» without leaving their home or office.
Today, «Keremet Bank» can already remotely identify the identity of the applicant even who applied for the first time, and the clients of the «Keremet Bank» independently connect their mobile and internet banking, open card and current accounts, make transfers, register deposits and replenish them, pay for more than 200 different services and perform many other banking operations without going to the bank.
The bank has many plans ahead. Following the global trends, «Keremet Bank» will continue to actively introduce modern digital solutions and technological banking products for their deep penetration among the general population, as well will introduce online lending and fast collateral-free loans, pre-approved, and business mortgages, business overdrafts, and other in-demand services.
It is important to highlight, that due to the additional capitalization made by the main shareholder, «Keremet Bank» has been successfully implementing a large-scale project of the provision of the preferential mortgage to the public sector employees – the «Social mortgage» over two past years. Since the launch of the program in May 2019, more than 1,400 families in all regions of the Kyrgyz Republic have acquired affordable housing worth more than 1.8 billion soms.
«The renewed «Keremet Bank» continues to play a strategic role in the banking market of Kyrgyzstan and in the nearest future has real chances to become the largest technological bank in the country with the developed range of modern products, card services, and payment instruments», -the Head of the OJSC «Keremet Bank» Rysbek Toktogulovich is convinced.
