The Closed Joint Stock Company “Microcrediting Company FINCA” has received full-fledged banking license of the National Bank of the Kyrgyz Republic, which allows carrying out transactions without restrictions, and license to do operations in foreign currency. Since March 3, the CJSC “FINCA Bank” is included in the NBKR register of the commercial banks.

FINCA started to work at the market of Kyrgyzstan in 1995. At that time, it was established as the programme on crediting of entrepreneurs with lower income. 20 years ago, FINCA became a pioneer and introduced key principles of group based crediting and clearly followed its mission. By the end of December 2014, share of FINCA among the microfinancial companies with regards to number of the clients was 33% and volume of credit portfolio – 36%. Based on data of February 1, 2015, the credit portfolio was 7,5 billion som.

Transformation of the company into the bank opens new opportunities for the citizens of Kyrgyzstan living in the regions. The CJSC “FINCA Bank” will provide the population with full range of banking services: saving accounts, fixed deposit, loans, and various systems of money transfers, swaps, debit and credit cards, new channels of access to banking services. Management of the FINCA Bank has intention to introduce new technologies and propose innovative products for its own customers in consistent way.

By words of Margarita Cherikbaeva, the Chair of the Board of the CJSC “FINCA Bank”: “Transformation of FINCA-Kyrgyzstan into commercial bank is next phase in development of our company, which is a part of FINCA International global network composed of the banks and microfinancial institutions in 23 countries of the world.  During twenty years, we were offering services of crediting and achieved significant successes; at moment of transformation we are leaders in this area. Time passed, and business and needs of our clients in financial instruments were growing. We are confident that now, with provision of banking services, our contribution in development of local communities, in which our branches are presented, will be increased”.