Bishkek, Dec. 3, 2025. /Kabar/. Kyrgyzstan's financial sector continues to actively develop, with several record-breaking figures for the period January–September 2025. Statistics demonstrate profound transformation of the industry from rapid client base growth to increased revenues and shift toward digital financial services. Nearly 22 million clients: digital services have become the norm.
According to statistics, 555 organizations operated in the sector from January–September 2025, including the National Bank, 21 commercial banks, 515 non-bank financial institutions, and 18 insurance companies.
By the end of September, the number of clients reached almost 22 million, 40% increase from the previous year, increase of over 6 million clients.
Three main drivers of client base expansion:
- massive shift to mobile banking;
- increase in the number of insurance contracts;
The development of online lending through microfinance organizations. This surge in digital activity is effectively bringing the financial market to mature stage. Banks and microfinance organizations are reallocating spending toward technology, which allows them to reduce service costs and reach wider population groups, including regions where financial services were previously limited.
Industry revenue grew by 46%. The total revenue of financial sector organizations for the first nine months of 2025 reached 168.2 billion soms, increase of 46%, or 53.1 billion soms, compared to the previous year.
The main sources of growth were:
- increased revenue at the National Bank;
- a significant increase in revenues at commercial banks.
The growth in bank revenues was driven not only by increase in the number of clients but also by shift toward cashless services, commission income, and the expansion of credit products.
Sector profits nearly doubled. By the end of the first nine months, financial organizations generated over 64 billion soms in profit, almost double the previous year's level.
Key facts:
- The National Bank provided the main contribution;
- 61% of organizations generated a profit;
- approximately 15% reported losses.
The increase in profits indicates improved financial stability in the sector, but differentiation between large and small market participants remains.
Loan portfolio exceeded 524 billion soms. As of October 1, 2025, the combined loan portfolio of banks and non-financial financial institutions amounted to over 524 billion soms, of which 88% were accounted for by banks. Lending structure:
Consumer loans — 37%;
Retail — 22.5%;
Agriculture — 11.5%;
Mortgages — 10.3%.
The dominance of consumer loans indicates the economy's high dependence on retail demand. This positively stimulates the domestic market, but increases the household debt burden, especially against the backdrop of persistent double-digit inflation and rising cost of living.