Eldik Bank

What Eldik Bank does

Eldik Bank OJSC is a Kyrgyz commercial bank headquartered in Bishkek that delivers a full retail and corporate banking franchise across all 7 Kyrgyz oblasts plus Bishkek city through a hybrid physical-branch and digital-channel model. Its product portfolio spans consumer and mortgage lending (rates from 16–19% p.a., credit cards at 28% p.a.), term deposits (up to 14% p.a. in KGS for 84-month Sandyk), payment cards (Visa Gold/Infinite/Business, Mastercard Gold, national Elkart contactless/social/pension/business cards), money transfers (SWIFT, Western Union, Zolotaya Korona, MoneyGram, UPT, Astrasend, Kyrgyz Transfer, Contact), and a dedicated Islamic finance window offering Murabaha-based auto, mortgage, business, agriculture, and consumer financing. The bank also sells National Bank of Kyrgyz Republic–refined gold ingots (licensed since August 2018), provides safe deposit boxes, securities trading, POS acquiring, salary projects, and cash-in-transit services.

The bank's technology layer centers on the ELDIK mobile banking app (1,000+ services), internet banking portals, and integrations with Visa, Mastercard, Google Pay, Elkart, and CIPS, complemented by a 24/7 contact center and WhatsApp support. Eldik differentiates via three structurally scarce positions: it is the only Kyrgyz bank licensed to sell NBKR gold ingots, the first Kyrgyz bank accredited by the Green Climate Fund (enabling climate-finance intermediation), and an early institutional player in Sharia-compliant banking via its Islamic Window and partnership with the Association of Islamic Finance of Kyrgyzstan.

Revenue is generated primarily through net interest margin on a diversified loan book (consumer, mortgage, auto, SME, agriculture, Islamic, gasification), fee and commission income (transfers, cards, POS acquiring, safe deposit boxes, securities), gold-bargain spreads, and digital service subscriptions. Eldik is 1,001–5,000 employees, founded in 1926, and operates as an Open Joint Stock Company; it is a UN Global Compact participant and pursues concessional SME, agricultural, and gasification lending programs in partnership with ADB, IFC, UNDP, and the EU.

Name

Eldik Bank

Legal name

«Элдик Банк» ААК

Website

https://eldik.kg

Company type

Private

Founded year

1926

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Eldik Bank is a Kyrgyz commercial bank offering retail and corporate banking, Islamic finance, digital mobile banking, and licensed gold-bar sales across all 7 Kyrgyz oblasts plus Bishkek, serving consumers, SMEs, farmers, and corporate clients.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Islamic SME & Commercial Banking (FSABAGAB)

akta.pro secondary industries

Islamic Retail Banking (FSABAGAA), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

Keywords

• Retail banking services
• Commercial lending
• Islamic finance
• Money transfer services
• Payment card products

Headquarters

HQ city

Bishkek

HQ country

Kyrgyzstan

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income (Net Interest Margin): The bank earns interest income from a broad range of credit products including consumer loans, mortgages, auto loans, express loans, agricultural loans, SME preferential loans, and Islamic finance products. Interest rates range from 3% (subsidized gasification loans) to 28% (credit card). The net spread between deposit rates (up to 14% p.a.) and lending rates constitutes the primary revenue stream.
2. Fee and Commission Income: Revenue from money transfers (SWIFT, Western Union, Zolotaya Korona, MoneyGram, UPT, Astrasend, Kyrgyz Transfer), payment card issuance and maintenance, POS terminal acquiring, securities transactions, safe deposit box rentals, and cash transportation services.
3. Precious Metals Trading: The bank sells National Bank of the Kyrgyz Republic refined gold ingots, generating revenue from the spread on gold bar sales. Licensed since August 2018 for dealing in precious metals.
4. Digital Banking Services: Revenue from mobile banking, internet banking subscriptions, online service commissions, and QR code payment infrastructure for merchants.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Eldik Bank is a Kyrgyz universal commercial bank providing retail and corporate banking products, including consumer, mortgage, auto and express loans; term deposits and savings products; Visa, Mastercard, and Elkart payment cards; domestic and international money transfers; an Islamic finance window offering Murabaha-based Sharia-compliant financing; licensed gold bar sales; salary projects and POS acquiring for businesses; mobile and internet banking; and ancillary services such as safe deposit boxes, securities trading, and cash-in-transit.

Product overview

Eldik Bank is a Kyrgyz commercial bank offering a comprehensive range of banking products and services through both traditional and digital channels. The bank operates as a platform delivering multiple product categories: credit products (express loans, consumer loans, auto loans, housing/mortgage loans, credit cards, preferential gasification financing, green/ESG-aligned loans, and Islamic finance products under the Murabaha framework), deposit products (term deposits including Sandyk, Sandyk Plus, children's deposits Balakay and Baldarga Jardam, Mastercard-linked deposits Altyn and Capital Standard, pension deposit), payment cards (Visa Gold/Infinite/Business, Mastercard Gold, national Elkart contactless/social/pension/business cards, virtual cards), money transfers (domestic Kyrgyz Transfer, international SWIFT, Western Union, Zolotaya Korona, MoneyGram, UPT, Astrasend), digital banking (ELDIK mobile banking app with 1000+ services, internet banking), and supplementary services (gold bars, safe deposit boxes, property sales, securities trading, cash/valuables transportation, POS terminals, salary projects). The Islamic Window provides Sharia-compliant financing for vehicles, real estate, business assets, agriculture, and SMEs through various Murabaha structures.

Differentiator

Problem solved

Functional benefit

Products and services

• Express Credits Collateral-free consumer loans up to 250,000 KGS at 19% interest rate, processed within 2 hours, available for terms up to 24 months. Salary project participants may borrow up to 500,000 KGS.
• Consumer Loans Personal loans from 10,000 KGS at 17% interest rate for terms up to 60 months for various consumer needs.
• Auto Loans Vehicle financing up to 4,000,000 KGS at 19% annual rate for new and used vehicles, with loan terms up to 60 months and 30% (new) / 50% (used) down payment.
• Housing Loans / Mortgage Mortgage and housing loans from 500,000 KGS at 16% interest rate for purchasing, building, or refinancing residential property, available for up to 10 years (120 months); EUR-denominated from 9% for SMEs.
• Credit Cards Credit cards with limits up to 200,000 KGS, 0.0767% daily interest rate (28% annual), 45-day grace period, up to 36 months term, no issuance or maintenance fee.
• Gasification Preferential Financing Preferential financing for gas connection, gas boilers, and materials up to 150,000 KGS at 3% interest rate for residents of Bishkek and Chuy region.
• Green Products Credit ESG-aligned loans for renewable energy, energy efficiency, pollution prevention, eco-friendly transport, and green buildings starting from 10,000 KGS at 16% rate.
• Overdraft Collateral-free credit line with 30-day interest-free grace period for non-cash payments, available up to 5 months salary (max 300,000 KGS) for salary project participants.
• Installment Plan Installment payment plan for purchasing goods and services through the bank.
• Murabaha Auto (Islamic Finance) Sharia-compliant vehicle financing for individuals and individual entrepreneurs, compliant with Islamic law norms.
• Murabaha Business (Islamic Finance) Sharia-compliant financing for legal entities and individual entrepreneurs to acquire material assets.
• Murabaha Mortgage (Islamic Finance) Sharia-compliant financing for residential real estate and land purchase for construction.
• Murabaha Commercial Mortgage (Islamic Finance) Sharia-compliant financing for commercial and residential property purchase for entrepreneurs and legal entities.
• Term Deposit Sandyk Term deposit with rates up to 14% annually, available in KGS, USD, RUB, EUR, CNY, with terms from 3 to 84 months, minimum 1,000 KGS.
• Sandyk Plus Deposit Term deposit with top-up option, rates up to 13.3% annually in KGS, USD, RUB, available for 3 to 84 months.
• Balakay Children's Deposit Children's savings deposit opened until age 18, Kyrgyzstan's longest-term children's deposit with rates up to 11% annually.
• Baldarga Jardam Deposit Charitable term deposit where 10% of interest earnings are donated to selected charity funds for children. Minimum 100,000 KGS, up to 36 months.
• Altyn Deposit by Mastercard Gold Savings deposit linked to Mastercard Gold card, providing 24/7 accessibility and restrictions on impulsive withdrawals.
• Eldik Pension Deposit Deposit designed for pensioners providing stable income, with terms of 12, 24, or 36 months and rates up to 13%.
• Visa Gold Card International payment card with enhanced limits and worldwide acceptance, free issuance, valid for 5 years, available in EUR, USD, KGS.
• Visa Infinite Card Premium high-level card in the Visa International system with premium benefits and exclusive services.
• Visa Business Card Payment card designed for small and medium businesses for various daily payments.
• Mastercard Gold Card Premium payment card with worldwide acceptance, enhanced security, and exclusive benefits and discounts.
• Elkart Contactless Card National contactless payment card of the Elkart system, valid for 5 years in KGS.
• Elkart Business Card Business payment card for legal entities and individual entrepreneurs, valid for 5 years in KGS.
• Virtual Cards Electronic analog of a regular bank card, available only in digital form, with free issuance and annual maintenance.
• Kyrgyz Transfer Fast and affordable money transfer service within Kyrgyzstan, unlimited transfer amounts, no bank account required.
• SWIFT International Transfers International wire transfer system for sending foreign currency to beneficiary accounts in banks worldwide, supporting USD, EUR, RUB, KZT, GBP, CNY.
• Western Union Transfers International money transfer system covering over 200 countries with instant transfers and secure payment system.
• Zolotaya Korona Transfers Money transfer system for fast transfers to Russia, CIS countries, and distant foreign countries without opening an account.
• ELDIK Mobile Banking Mobile banking application with 1,000+ services accessible 24/7, enabling tax payments, QR code payments, deposits opening, international transfers, utility payments, and OSAGO insurance purchases.
• Internet Banking Web-based banking platform for accessing account statements, news, promotions, and full mobile banking functionality from a computer.
• Bank Account Opening (RKO) Account opening service in national and foreign currency with full range of settlement and cash services including cash acceptance, transfers, and conversion operations.
• Salary Projects Payroll project service for businesses to pay salaries quickly and securely with free connection, free cards for employees, and overdraft up to 5 months salary.
• POS Terminal Services Point-of-sale terminal installation service for merchants to accept card payments.
• Gold Bars Sales Sale of refined gold bars in standard weights (1, 2, 5, 10g, 31.1035oz, 100g) with 999.9 purity, licensed by the National Bank of the Kyrgyz Republic.
• Safe Deposit Boxes Secure storage for valuables in modern safe deposit boxes available at two offices, free for Visa Infinite cardholders.
• Securities Operations Trading of government securities (GKv, GKO, NBKR notes) on primary and secondary markets for individuals and legal entities.
• Cash and Valuables Transportation 24/7 cash and valuables transportation and delivery services using armored vehicles with radio communication equipment.
• SME Concessional Lending Program Concessional lending for small and medium-sized enterprises in food production, garment/textile, footwear/leather goods, and tourism for equipment modernization, working capital replenishment, and sales growth.

Quantifiable outcome

• Gasification loans totaling 10.94 million som financed to 88 financing entities
• +1 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature5 records

Partnerships

16 partnerships are on record, tiered minor, core and major.

• Unique Group (Юник Групп)minorStrategic or Co-development Partner · 25 June 2026Eldik Bank and Unique Group LLC signed a cooperation agreement on June 25, 2026. Nature of partnership relates to business development and financial services.
• Association of Islamic Finance of Kyrgyzstan (ОЮЛ АИФ)coreStrategic or Co-development Partner · 18 June 2026Eldik Bank OJSC and the Association of Islamic Finance of Kyrgyzstan signed a cooperation agreement on June 18, 2026, strengthening the bank's Islamic finance offerings and industry standards.
• Asian Development Bank (ADB)coreStrategic or Co-development Partner · 18 November 2025Eldik Bank and Asian Development Bank launched a joint project to support Kyrgyz farmers focused on developing climate-resilient agricultural value chains. The project was initiated following the signing of a Project Agreement between the parties, representing a significant strategic collaboration in sustainable agriculture finance.
• International Finance Corporation (IFC)majorStrategic or Co-development PartnerIFC partnership supports Eldik Bank's sustainable finance and ESG agenda. IFC is part of the World Bank Group and provides advisory and investment services for financial sector development in emerging markets.
• United Nations Development Programme (UNDP)majorStrategic or Co-development PartnerUNDP partnership contributes to Eldik Bank's sustainability agenda and support for the UN Sustainable Development Goals.
• United Nations (UN) / UN WomenmajorStrategic or Co-development PartnerEldik Bank is a participant in the UN Global Compact, committing to its principles. UN Women partnership supports gender equality initiatives within the bank's operations.
• European Union (EU)majorStrategic or Co-development PartnerEU partnership supports Eldik Bank's sustainable development and ESG agenda through potential co-financing and technical assistance programs.
• MastercardcoreChannel Partner/ Reseller/ DistributorMastercard is the payment network partner for Eldik Bank's international payment cards including Mastercard Gold and co-branded deposit cards.
• Union PayminorChannel Partner/ Reseller/ DistributorUnion Pay is a payment network partner for Eldik Bank's card products.
• ADB (Asian Development Bank)coreStrategic or Co-development PartnerADB is a major development finance partner supporting Eldik Bank's climate-resilient agriculture and green finance initiatives.
• OFSI (Open Finance Standards Initiative)minorOthersOFSI partnership supports open finance standards development at Eldik Bank.
• World Savings Banks Institute (WSBI)minorStrategic or Co-development PartnerWSBI is a global association of savings banks; Eldik Bank's membership supports best practice sharing in retail and savings banking.
• Kyrgyz Ministry of Natural ResourcesminorStrategic or Co-development PartnerPartnership with the Kyrgyz Ministry of Natural Resources supports environmental and sustainability initiatives.
• ACAMS (Association of Certified Anti-Money Laundering Specialists)minorOthersACAMS partnership supports Eldik Bank's compliance and anti-financial crime training and certification.
• V EnergyminorStrategic or Co-development PartnerEldik Bank's Islamic Window and V Energy company signed a memorandum of cooperation in June 2026 for potential joint green/energy finance initiatives.
• National Bank of the Kyrgyz RepubliccoreOthersAs the central bank and regulator, the NBKR granted Eldik Bank its license for precious metals operations on August 15, 2018, and provides banking oversight.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bank of Asia (Kyrgyzstan): Kyrgyz commercial bank serving retail, SME, and corporate clients with deposits, lending, and payment cards. Comparable domestic commercial banking competitor with similar product mix and regional presence in Bishkek and other oblasts.
• Demir Bank (Kyrgyzstan): Kyrgyz commercial bank with Turkish ownership providing retail and corporate banking, payment cards, and money transfers. Directly comparable in customer segments, branch presence across Bishkek and regions, and product breadth including Islamic-adjacent offerings.
• Kyrgyz Investment and Credit Bank (KICB): Major Kyrgyz commercial bank with Aga Khan/IFC sponsorship, providing retail, SME, and microfinance products with international development-bank backing. Directly comparable as a multi-segment Kyrgyz bank with concessional lending programs, similar SME and remittance customer base.
• Optima Bank (Kyrgyzstan): One of the largest commercial banks in Kyrgyzstan offering retail deposits, lending, payment cards, and digital banking. Direct competitor in the same domestic market with overlapping consumer and SME product suites, comparable branch footprint, and similar deposit-rate competition.

Others

• Association of Islamic Finance of Kyrgyzstan (ОЮЛ АИФ): Kyrgyz industry association that Eldik signed a cooperation agreement with in June 2026. Relevant as a regulatory/standards counterpart shaping Islamic finance policy and Shariah governance in Kyrgyzstan, directly impacting Eldik's Islamic Window product roadmap.

Emerging players

• Al Hilal Bank: UAE-headquartered Islamic bank with CIS/Central Asia expansion ambitions offering Sharia-compliant retail and corporate banking. Comparable for its dedicated Islamic finance product suite (Murabaha-style structures) and emerging-market focus.

Broad incumbents

• Halyk Bank (Kazakhstan): Largest retail bank in Kazakhstan and a Central Asian banking leader, offering deposits, lending, payments, Islamic finance (via Al Huda), and digital banking. Comparable as a regional incumbent with broader scale and similar product breadth, including Islamic finance windows.
• Kaspi.kz (Kazakhstan): Kazakhstan's leading super-app combining payments, marketplace, and fintech. Relevant as a regional benchmark for digital banking/mobile-first strategy; competes for the same Central Asian retail and SME mindshare that Eldik targets.
• ForteBank (Kazakhstan): Top-3 Kazakh universal bank with strong retail, SME, and digital banking franchise. Comparable as a regional full-service commercial bank competing for similar cross-border remittance and CIS customer flows as Eldik.

Regional players

• Ziraat Bank (Uzbekistan branch): Turkish state-owned bank with significant Central Asia operations including Uzbekistan and CIS presence. Comparable as a regional commercial bank serving similar remittance corridors, retail deposits, and SME financing customers across the region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

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 Eldik Bank