Kyrgyz Investment and Credit Bank

What Kyrgyz Investment and Credit Bank does

Kyrgyz Investment and Credit Bank (KICB) is the largest commercial bank in the Kyrgyz Republic, founded in 2001 in Bishkek and operating a universal banking franchise across retail, SME, agricultural, and corporate segments. The bank serves individuals, micro and small businesses, women entrepreneurs, and larger corporates through 53 branches, 9 customer service points, 200+ ATMs, and 319+ payment terminals that span every region of Kyrgyzstan. Its product range spans consumer loans, mortgages, micro-credit, agro loans, SME and corporate credit lines (in KGS, USD, EUR, and RUB), deposits, cards, money transfers, and government securities intermediation, distributed via branch network, mobile apps (KICB and KICB Business with free online accounting), online card ordering, and a 24/7 contact center.

KICB is the principal partner of all major international payment systems active in Central Asia — Visa, Mastercard, UnionPay International, and the ELCARD national payment system — and as of June 2026 extends ELCARD acceptance into Uzbekistan via HUMO. Revenue is generated primarily through net interest income on a multi-currency loan book (rates ranging from 7% on EUR corporate lines to 28% on unsecured express KGS loans), supplemented by transaction fees on card services, SWIFT and money-transfer corridors (Western Union, Zolotaya Korona, Ria, MoneyStream, Astrasend), acquiring, safe deposit box rental, and government securities intermediation. The bank is privately held, with principal shareholders including the Aga Khan Fund for Economic Development (AKFED), the Kyrgyz Republic, and Habib Bank Limited (HBL), alongside founding shareholders IFC, EBRD, and DEG, giving it unusual international institutional backing for the Kyrgyz market.

Name

Kyrgyz Investment and Credit Bank

Legal name

Закрытое Акционерное Общество "Кыргызский Инвестиционно-Кредитный Банк"

Website

https://kicb.net

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Kyrgyz Investment and Credit Bank (KICB) is the largest commercial bank in Kyrgyzstan, providing retail, SME, agricultural, and corporate banking through 53 branches, 200+ ATMs, and mobile apps, with multi-currency lending and cross-border ELCARD acceptance into Uzbekistan.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Commercial banking services
• SME lending
• Retail deposits
• Consumer loans
• Payment cards

Headquarters

HQ city

Bishkek

HQ country

Kyrgyzstan

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net interest income from lending: KICB earns primarily through interest income on its loan portfolio spanning retail (consumer, mortgage, micro, agro), SME (business, credit lines), and corporate segments. Interest rates on loans range from 8% to 28% depending on product, currency, and collateral.
2. Banking service fees and commissions: Fees from bank account maintenance, card issuance and maintenance, money transfers (domestic and international via SWIFT, Zolotaya Korona, Western Union, Ria, Astrasend, MoneyStream), payment terminal transactions, safe deposit box rental, and acquiring services.
3. Government securities investment: KICB intermediates government treasury bills (GKv), government treasury bonds (MKO), and National Bank notes on behalf of clients, earning commission on these transactions.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Kyrgyz Investment and Credit Bank (KICB) is the largest commercial bank in Kyrgyzstan, providing retail and corporate banking products including consumer and mortgage loans, SME and corporate credit lines, agro lending, time and savings deposits, payment cards (Visa, Mastercard, UnionPay, ELCARD), domestic and international money transfers (SWIFT, Western Union, Zolotaya Korona, Ria, Astrasend), mobile and internet banking, acquiring services, and government securities intermediation.

Differentiator

Problem solved

Functional benefit

Brands

• Mykty Ayim: Women entrepreneurs support program under EBRD's 'Women in Business' Program in Central Asia, offering favorable credit terms, deposits, and banking cards along with business development training.
• ELCARD

Products and services

• Consumer Loans (Personal, Salary Project, Express, Online, Microcredit, Overdraft, Goods on Credit, Mortgage) A range of consumer credit products for individuals including personal loans (19% KGS), salary project loans (22% KGS), express loans without collateral (28% KGS), online loans (20% promotional), microcredit (22%), overdraft (28%), goods-on-credit installment loans (26%), and mortgages (18% KGS / 12% USD/EUR). Terms range from 2 to 120 months.
• SME and Business Loans (Agro, Business, Credit Line, Light Credit, Micro Credit Line) Loans for SMEs, agribusinesses, and micro-businesses at 8% (EUR) to 22% (KGS) annual nominal rates, up to 50 million KGS for terms up to 120 months. Includes working capital, fixed asset investment, and commercial real estate financing.
• Corporate Credit Line Revolving corporate credit facilities for working capital financing at 16% KGS, 7.5% USD, or 7% EUR, with limits up to 450 million KGS / 5 million USD equivalent for up to 36 months. Commission of 0-3% on unused portion.
• Time and Savings Deposits Retail deposit products in multiple currencies. Time deposits: 3-13% KGS, 0.5-2% USD, 0.5-1.25% EUR, 5-7% RUB for terms up to 36 months. Savings deposits: 5-11.5% KGS, 0.5-1.5% USD.
• Payment Cards (Visa, Mastercard, UnionPay, ELCARD) Bank card products including Visa Gold, Visa Signature, Visa Infinite, Mastercard Standard, Mastercard Gold, UnionPay, and ELCARD/ELCARD+ cards for individuals and businesses, supporting domestic and international payments.
• Money Transfers (SWIFT, Western Union, Zolotaya Korona, Ria, Astrasend, MoneyStream) Domestic and international money transfer services via SWIFT (through Citibank to EU, China, UAE, UK, Switzerland, Turkey), Western Union (200+ countries, 500,000+ locations), Zolotaya Korona/Koronapay (52+ countries, 58,000+ pickup points), Ria (190+ countries), Astrasend (Uzbekistan, Tajikistan, Kazakhstan, Mongolia), and MoneyStream (internal bank transfers up to 1 million KGS).
• KICB and KICB Business Mobile Banking Apps Self-service mobile banking application for individuals (KICB) and businesses (KICB Business) on iOS and Android. Features include phone-number-based instant transfers, QR payments, deposit opening, online loan applications, card management, payment for 500+ services, and free online accounting (personnel management, STI tax forms, e-invoices, waybills).
• KyrSEFF Green Loans Loans for energy-efficient and water-saving technologies at 22% KGS nominal (effective from 24.09%), up to 1 million KGS for up to 60 months. Includes free technical support and possible grants up to 10% of investment amount.
• Government Securities Investment (GKv, MKO, National Bank notes) Brokerage services for government securities including treasury bills (GKv), treasury bonds (MKO), and National Bank notes, allowing clients to invest in Kyrgyz sovereign debt instruments.
• Bond Investment Services Corporate bond investment services, with KICB offerings underwritten by SENTI Financial Company.
• Insurance Services (via Jubilee Kyrgyzstan subsidiary) Auto (CASCO, OSAGO), life, home, travel, and leasing insurance products distributed through KICB's branch network via its wholly-owned subsidiary Jubilee Kyrgyzstan Insurance Company.
• Safe Deposit Boxes Rental of safe deposit boxes at KICB branches for secure storage of valuables and documents.
• Mykty Ayym Women Entrepreneurs Program Preferential lending and business support program for women-led micro and small enterprises under EBRD's 'Women in Business' program for Central Asia. Offers favorable credit conditions, dedicated deposits and banking cards, and business development training.
• Acquiring Services Merchant acquiring services enabling businesses to accept card payments through KICB's POS terminal network of 319+ payment terminals across Kyrgyzstan.
• Bank Account (On-Demand Account) Current bank account opening and maintenance services for individuals and legal entities, with free account opening promotion for individual entrepreneurs throughout 2026.

Quantifiable outcome

• EBRD risk-sharing enables KICB to extend more SME loans by sharing credit risk up to 50% per loan
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration24 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered major and core.

• Mastercard (for Mykty Ayym program)majorGTM or Marketing Partner · 3 June 2026Mastercard co-implements the 'Mykty Ayym' (Best Woman Entrepreneur) program alongside KICB, EBRD, and the Swiss Government. The program provides free business education for 200 women, intensive training for 50 selected participants, and zero-interest credit up to 1 million som for 25 finalists.
• Visa InternationalcoreTechnology or IntegrationKICB is the principal partner (принципиальдуу өнөктөш) of Visa International payment system. The bank offers Visa Gold, Visa Signature, and Visa Infinite cards. The 25th anniversary promotional campaign '5 million som in prizes' is specifically tied to KICB Visa card usage.
• Mastercard InternationalcoreTechnology or IntegrationKICB is the principal partner of Mastercard International, offering Mastercard Standard and Mastercard Gold cards. The 'Best Woman Entrepreneur' program is implemented in partnership with Mastercard.
• UnionPay InternationalcoreTechnology or IntegrationKICB is the principal partner of UnionPay International, enabling card acceptance and issuance for the Chinese payment network.
• ELCARD (national payment system of Kyrgyzstan)coreTechnology or IntegrationKICB is the principal partner of the ELCARD national payment system. KICB ELCARD and ELCARD+ cards are now accepted in Uzbekistan through the HUMO national payment system, enabling cross-border usage for Kyrgyz cardholders traveling to Uzbekistan.
• Citibank N.A.coreTechnology or IntegrationKICB uses Citibank as its correspondent bank for SWIFT transfers to/from USD (New York branch) and EUR (London branch). The bank's 25th anniversary promotion offers fixed SWIFT transfer fees of €25 via Citibank corridor to EU, China, UAE, UK, Switzerland, Liechtenstein, Turkey, and other countries.
• Accelerate Prosperity KyrgyzstanmajorImplementation/ SI/ Consulting PartnerAccelerate Prosperity Kyrgyzstan implements the educational and capacity-building component of the 'Mykty Ayym' program, covering finance, marketing, sales, and practical work with mentors.
• Aga Khan Development Network (AKDN)majorStrategic or Co-development PartnerKICB contributed $500,000 to support the creation of Kyrgyzstan's first high-technology mountain hospital in Naryn, which is financed by AKDN. This represents a major social impact partnership.
• HUMO (Uzbekistan national payment system)majorTechnology or IntegrationKICB's ELCARD and ELCARD+ cards are accepted throughout Uzbekistan's HUMO National Payment System network, covering payments, cash withdrawals, and other transactions. This cross-border acceptance enables Kyrgyz tourists and business travelers to use their cards in Uzbekistan.
• KyrSEFF (Kyrgyz Sustainable Energy Finance Facility)majorStrategic or Co-development PartnerKICB participates in the KyrSEFF green credit program, offering green loans for energy-efficient and water-saving technologies with effective rates from 24.09% and grants up to 10% of the investment amount. Free technical support is provided by KyrSEFF specialists.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Optima Bank: One of the largest commercial banks in Kyrgyzstan offering retail, SME, and corporate banking across a similar national branch network. Directly comparable on product mix, customer base, and regulatory environment as a top-tier Kyrgyz bank competing for the same SME and retail segments.
• Bakai Bank: Major Kyrgyz commercial bank with nationwide presence, retail and SME banking focus, and similar international development finance relationships. Competes directly with KICB in the SME and consumer lending segments within Kyrgyzstan.
• Demir Bank Kyrgyzstan: Kyrgyz commercial bank with retail and SME focus, comparable branch footprint, and similar product suite including mobile banking. Directly competes with KICB in the Kyrgyz retail and SME banking market under similar National Bank regulatory framework.

Broad incumbents

• Halyk Bank: Largest commercial bank in Kazakhstan with extensive branch network, retail/SME/corporate banking, and dominant market position. Comparable in business model and product breadth, though serving a much larger and more developed economy than KICB.
• Eurasian Bank: Kazakhstan-based commercial bank with retail and SME focus, owned by Eurasian Resources Group. Comparable on Central Asian banking context and SME/retail lending, though operating at larger scale in a more developed Kazakh market.

Emerging players

• Kaspi.kz: Kazakhstan's super-app combining payments, marketplace, and fintech with banking. Comparable on mobile-first strategy and SME/consumer digital banking focus, though operating at significantly larger scale and as an emerging digital disruptor in the broader Central Asian banking landscape.

Regional players

• Bank of Georgia: Largest bank in Georgia with similar retail, SME, and corporate banking franchise. Comparable on regional post-Soviet banking model, EBRD/IFC institutional relationships, and digital banking adoption patterns — though serving a different geography.
• TBC Bank: Leading Georgian bank with strong digital/mobile banking focus and EBRD/IFC backing. Comparable on regional emerging market banking, international development finance relationships, and digital banking innovation in the CIS region.
• Asaka Bank: Major Uzbek state-owned commercial bank with corporate and SME focus. Comparable on Central Asian banking context and corporate/SME lending, though operating under different regulatory framework (Uzbekistan) and not directly competing in the Kyrgyz market.
• Hamkorbank: Leading private Uzbek commercial bank with retail and SME focus. Comparable on Central Asian retail/SME banking and digital channels, though serving a different geography and not directly competing in Kyrgyzstan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SalesKICB

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kyrgyz Investment and Credit Bank