Kompanion Bank offers special conditions on loans for business development and group loans only from March 1 through March 31 of this year under special spring offer. Interest rates on loans for small and medium-sized businesses in KGS have been decreased by 4%. In addition, during the promotion period, new customers can get a group loan without additional interest.

“We are continuing to create new bank products and improve the lending conditions for small and medium-sized businesses. It should be noted that, Kompanion Bank provides personalized service for each customer. We offer flexible repayment schedule and free consultations of the bank’s agronomists and veterinarians, which helps to support entrepreneurs,”- noted Ulanbek Termechikov, CEO of Kompanion Bank CJSC.

Detailed information can be obtained from the offices of Kompanion Bank CJSC, www.kompanion.kg site, as well as by contacting the contact center: 0 (312) 33-88-00, 88 00 (for mobile calls).

About Bank:

Kompanion Bank CJSC, established in 2004, has passed all the stages of institutional development and significantly expanded its presence in the market of Kyrgyzstan. The Bank with assets of 6.5 billion KGS and equity of 1 billion and 700 thousand KGS has 109 offices throughout the country, and provides services for more than 96 000 clients. Mercy Corps, the Dutch Development Bank FMO, and European investment fund Triodos Investment Management are the shareholders of the Bank.

To celebrate 12^th Anniversary, Kompanion Bank launched discount event for business loans in USD currency.  Now businesses and entrepreneurs can get loans by discounted fixed rate 12 % annually. Intended use of loan: to increase operating assets and for operating capital investments.  Discount loan will be active until end of 2016.

“We are continuing to develop and implement new bank products for our clients. Financing SME businesses is still priority for the Kompanion Bank. Anniversary discount loan event will make loans for our entrepreneurs more attractive and accessible”-said Ulanbek Termechikov, CEO Kompanion Bank

To get more detailed information call 0 312 33 88 00  or visit any branches or bank outlets.

On October 12^th, Kompanion Bank celebrated its 12^th birthday.

Kompanion was founded by Mercy Corps, an international non-governmental organization, through the consolidation of assets of five microcredit agencies. In 12 years, Kompanion Bank has passed all stages of institutional development and today it is a sustainable community development financial institution with assets of KGS 7 billion. Among 25 Kyrgyz banks, Kompanion ranks eighth by equity and ninth by loan portfolio.

From the day of its establishment, Kompanion Bank has significantly expanded its presence in the market of Kyrgyzstan. Today, more than 1,000 Bank employees serve 98,000 clients in 109 outlets throughout the country. Bank’s shareholders are represented by Mercy Corps, Dutch development bank (FMO) and European investment funds of Triodos Bank.

In its operations, Bank pays particular attention to building long-term partnership relations with clients based on mutual trust, respect and integrity. Aiming for highest service standards, Kompanion adheres to client protection principles adopted in financial sector globally. In April 2014 Kompanion became the first organization in Central Asia that was certified by the Smart Campaign, which means that Kompanion Bank is committed to standards of socially responsible lending.

It’s worth mentioning that Kompanion is the only bank in Kyrgyzstan that has a development team of 30 highly qualified agronomists and veterinarians. Kompanion Bank’s unique integrated approach that involves provision of financial products and business development services allows clients to apply an ethno-ecological approach to management of natural resources and their business assets. In five years, Bank’s agronomists and veterinarians have conducted 12,300 free trainings attended by more than 31,000 households from 725 villages of Kyrgyzstan. Households apply received knowledge and skills and increase their crop yields and livestock productivity, which results in higher income for the population.

“We’d like to thank our clients for their trust, partners for reliable cooperation, and our staff for their commitment to work and priceless contribution to the development of Bank. We appreciate our long-term experience. We are proud of our history and continue to follow our mission by offering best financial solutions to the population of Kyrgyzstan,” noted Ulanbek Termechikov, CEO of Kompanion Bank.

On September 26, 2016, the Board of the National Bank of the Kyrgyz Republic decided to keep the monetary policy rate unchanged at 6.00 percent. The decision becomes effective as of September 27, 2016.  

In the current period in the Kyrgyz Republic deflationary processes are recorded. Overall price level in annual terms has decreased by 0.4 percent (as of September 16). This decrease was due to previously taken monetary policy decisions and supply factors of food production at the foreign markets (favorable situation in the grain markets of Kazakhstan and Russia and the world’s major food markets) as well as at the domestic markets (growth of production in agriculture). Decrease in domestic consumption still constraints consumer prices in the country. 

Economic activity in the country shows recovery. In January-August 2016, real GDP increased by 0.4 percent, compared to decrease by 1.2 percent in January-July 2016. Significant drop in the manufacturing industry, mainly due to decline in production of the “Kumtor” gold-mining enterprises, and weak demand for domestic products still restrain economic growth. Excluding “Kumtor”, the economy grew by 2.1 percent. For the monetary policy formulation and analysis, the indicator of real GDP growth without “Kumtor” is more relevant. 

The exchange rate policy of the National Bank aimed at smoothing sharp exchange rate fluctuations. Since the beginning of the year (as of September 23) the Kyrgyz Som appreciated by 9.4 percent. At the domestic foreign exchange market the situation is stable.  

According to the forecasts of the National Bank, in the next few months a low inflationary environment remains. Under a low inflationary risks environment and in order to retain economic recovery, maintaining the current policy rate unchanged will allow neutralizing deflation. Thus, annual inflation rate will return to the target in the forecasting horizon.  

National Bank continues to assess external and internal factors influencing inflation and conducts relevant monetary policy aimed at keeping inflation rate within the 5-7 percent band in the medium term, as determined in the Main monetary policy guidelines. 

Information note: 

The next meeting of the Board of the National Bank of the Kyrgyz Republic on the monetary policy rate is scheduled for November 28, 2016. 

Based on the data analysis of 2,400 households received within the framework of the study “Life in Kyrgyzstan“ for 2013, the author has come to conclusion that the level of income and accumulated wealth, availability of a credit, as well as the shocks faced by a household largely determine whether it will save or not. The marital status of the household head and the place where the family lives have also a significant influence on the probability of savings. Besides, the households with equal economic, social and geographic characteristics differ in the saving behavior depending on the gender identity of the household head. 

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