For comparison, at the end of January 2025, the profit amounted to 2 billion 136.4 million soms.
And at the end of January 2024, this figure reached 2 billion 265.8 million soms, as indicated in the data.
As of November 30, 2025, banks reported a net profit of 29 billion 973 million soms. At the same time, as of October 31, the profit was 26 billion 398.9 million soms, and as of September 30, it was 23 billion 146.8 million soms.
Analysis covering the period from 2015 to 2018 shows that the net profit of commercial banks in Kyrgyzstan reached a historical record of 33 billion soms by the end of 2025. Over the past seven years—from 2018 to 2025—the sector's profit increased 11 times: from 3 billion to 33 billion soms, according to the reports of the banking regulator.
Profit increased by 6%, but the growth rate is slowing down.
Comparison with 2024 (31.1 billion soms) shows that profit grew by 1.9 billion soms, or by 6.2%. This is the smallest increase in the last four years: for comparison, in 2024 the growth was 28%, in 2023 it was 4.7%, and in 2022 profit increased by 545%—from 3.6 to 23.2 billion soms.
Annual dynamics of net profit:
- 2018 — 3 billion soms
- 2019 — 2.9 billion soms (−3.9%)
- 2020 — 2.3 billion soms (−20.4%, COVID-19)
- 2021 — 3.6 billion soms (+56.2%, recovery)
- 2022 — 23.2 billion soms (+545%, turning point)
- 2023 — 24.2 billion soms (+4.7%)
- 2024 — 31.1 billion soms (+28.3%)
- 2025 — 33 billion soms (+6.2%)
Factors contributing to record bank profits
Interest income, which is the main source of bank revenue, increased to 88.8 billion soms in 2025, which is 4.2 times higher than the level in 2018 (21.3 billion soms). This is due to a sharp increase in the loan portfolio, which grew from 127 to 506 billion soms during the same period—almost 4 times.
Net interest income, calculated as the difference between interest income and expenses, amounted to 56.1 billion soms—this is also a record figure. However, it is worth noting that the cost of attracted resources is growing faster than income: banks' interest expenses increased by 49% (from 21.9 to 32.6 billion soms), while income grew by 39%.
Non-interest income, including foreign exchange operations, fees, and other sources, reached 249.4 billion soms, which corresponds to a growth of 167% over the year. This segment accounts for almost 73.7% of all bank revenues, highlighting their high dependence on foreign exchange and commission operations.
Income before tax — 37 billion soms
Income before tax amounted to 37 billion soms, with an effective corporate tax rate of 10.8% (corporate tax — 4 billion soms). For comparison, in 2019, before the pandemic, this rate was at 15.4%.
Loan portfolio: achievements and risks
The total loan portfolio of banks grew to 506.4 billion soms (+49% over the year). However, the volume of problem loans reached 53.1 billion soms—this is 5.5 times more than in 2018, with the share of problem loans amounting to 10.5% of the total portfolio.
Particularly concerning is the growth of substandard loans: over two years, their volume increased from 7.6 to 36.9 billion soms (an increase of 4.8 times). In response, banks increased reserves for problem loan obligations to 6.1 billion soms.
