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Rosinbank to become bank specializing in lending

Rosinbank will become a specialized bank, the main focus of which will be lending of infrastructure, communications and housing construction. Chairman of the National Bank Tolkunbek Abdygulov said at a press conference today.

According to him, the authorized capital of Rosinbank OJSC will be additionally increased to 3 billion soms. This decision was made by the Board of the National Bank of the Kyrgyz Republic in the framework of improving the activities of the financial institution.

After capitalization, the National Bank’s share in Rosinbank OJSC will reach 95 percent.

«This measure completes the recovery process of Rosinbank OJSC. The specialization of the bank’s activities will increase the access of the population to banking and financial services. It is planned that the financial institution will direct more than 1 billion soms to granting of mortgage loans in the regions under the terms close to the mortgage products of the State Mortgage Company,» Tolkunbek Abdygulov told.

At the same time, he noted that the National Bank would consider sale of its stake in the bank after the profitable activity of Rosinbank OJSC is ensured. As of today, various options for sale are being studied, including the possibility of a public sale through international stock markets.