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National Bank monitors growth of minimal authorized capital of banks

From July 1, 2018, all commercial banks operating in Kyrgyzstan (including branches of non-resident banks) must form a minimal authorized capital of 600 million soms. The official website of the bank reports.

Such a requirement is contained in the law on the National Bank, banks and banking activities. In addition, in the past year, the National Bank of the Kyrgyz Republic issued a decree on the gradual increase of the minimal authorized capital.

«The National Bank monitors compliance of the commercial banks with the requirements for the minimal amount of the authorized capital. In case of failure by commercial banks to meet the set requirements, the NBK will apply measures in accordance with the law,» the report said.

Last week, the National Bank introduced the regime of the provisional administration at the Eurasian Savings Bank. This was done precisely because of the failure to comply with the requirements for the formation of a minimal amount of authorized capital.

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