BISHKEK, Kyrgyzstan, September 29. The income of Kyrgyzstan's commercial banks amounted to 39.739 billion soms ($447 million) from January through June 2023, which is a 40.9-percent increase compared to the same period last year, Trend reports.
Data from the country’s State Statistics Committee shows that this growth can be attributed to an increase in commission income and interest income from customer loans. Expenses of commercial banks for the same period increased by 34.6 percent year-on-year, totaling 26.728 billion soms ($301 million).
During the first half of this year, 21 commercial banks recorded profits, with a total amount of 13.035 billion soms ($146.9 million). Losses were registered in two commercial banks, totaling 11.4 million soms ($128,508).
The net financial result amounted to 13.023 billion soms ($146.8 million) in profit, surpassing the amount earned in the corresponding period of the previous year by 1.6 times.
In the first half of this year, the financial sector of Kyrgyzstan's economy comprised 640 organizations, including the National Bank, 23 commercial banks, 601 non-banking financial and credit organizations, and 15 insurance companies.
These organizations generated total revenue of 61.001 billion soms ($687 million) from January through June 2023, which is a 32.3-percent increase compared to the corresponding period of the previous year.
