FINCA Kyrgyzstan launched in 1995 as a microfinance institution dedicated to promoting small business development, primarily serving women borrowers through the group lending model. The institution’s first credit group was formed in Chui province.
Adapting to the needs of a growing market, FINCA Kyrgyzstan expanded its offering, disbursing its first individual loans in 1998. While the organization continues to provide group loans, the vast majority of borrowers now access individual loans.
FINCA Kyrgyzstan became FINCA Bank Kyrgyzstan in 2015, a fully-licensed bank authorized to accept client deposits. Continuing to expand its offering of financial products and services, the bank now offers money transfer services and savings products in addition to a wide range of group and individual loans. FINCA Bank Kyrgyzstan now has a gross loan portfolio of roughly USD 95 million and holds total deposits of roughly USD 45 million.
FINCA Bank Kyrgyzstan serves more than 100,000 clients through both traditional and digital channels: a network of 70 branches located throughout the country; expanding mobile and online banking channels; cash-in terminals located in numerous locations; and digital payments. The bank’s vast geographic reach and expanding digital channels allows clients to conduct their banking without having to travel long distances.
In addition to providing responsible financial products and services, FINCA Bank Kyrgyzstan provides financial literacy training activities to ensure that individuals, families and communities throughout the country have the knowledge to make sound financial decisions.
In 2014 the bank received Smart Certification for its long-standing and sustained commitment to upholding the Smart Campaign’s seven client protection principles for responsible banking.