Although there is a trend of decline, the scale of this decrease does not seem significant.
For comparison: before the currency boom of 2022, banks' income from foreign currency operations rarely exceeded 6-7 billion soms. Thus, the current 32.5 billion remains 4-5 times above the normal level.
This indicates that the banking system continues to generate income from currency operations at a level comparable to record values, despite the initial shock from the redirection of trade flows from Russia through Kyrgyzstan having already subsided.
These results confirm the concerns expressed by financier Arslanbek Kenenbaev in 2023 that the expanded margin between buying and selling currency in banks has not returned to previous levels.
The main intrigue: change of leaders
The most noticeable changes occurred at the top of the ranking.
In the closed part of the review, a ranking of banks by profit from foreign currency operations is presented in the form of an interactive chart and data analysis.
