According to calculations based on data from the National Bank of the Kyrgyz Republic, the volume of new bank loans for terms of three to six months showed substantial growth. During the reporting period, commercial banks issued 21.3 billion som, which is 70.3% higher than the figures for the same period last year.

Rate dynamics and currency preferences

Alongside the increase in lending volumes, a decrease in the cost of borrowed funds was recorded. The weighted average rate on new loans for this term decreased from 15.63% to 11.88%.

Key lending indicators

21.3billion som, loans issued
70.3%increase compared to last year
11.88%average rate

The entire increase in lending volume was driven by operations in the national currency. While som-denominated issuances increased by 9.1 billion som, foreign currency loan volumes decreased by 304.1 million som in equivalent. This led to an increase in the share of som-denominated loans in the total volume of issuances for this term from 96.3% to 99.3%.

share of som-denominated loans96,3%99,3% +3 pp