Authorized capital of Guarantee Fund OJSC makes KGS 1.132 bln

Bishkek, July 29, 2019. /Kabar/. With the entry of the Kyrgyz National Bank into the number of shareholders of the Guarantee Fund OJSC, the authorized capital of the Fund amounted to KGS 1.132 billion, Malik-Aidar Abakirov, the Chairman of the Board of Directors of the Fund told during the press conference at Kabar News Agency.
According to his data, on July 19 the National Bank bought the Guarantee Fund’s equity issuance in the amount of KGS 550 million and became a shareholder with a stake of about 49%.
"The Guarantee Fund OJSC was established in 2016 with the authorized capital of KGS 282 million. In 2018, the Kyrgyz Government increased capitalization to KGS 582 million. In 2019, the capital amounted to KGS 1.132 billion. In comparison to bank’s indicators, the authorized capital of the Guarantee Fund ranks 8th, and in terms of equity capital - 12th among commercial banks in Kyrgyzstan, according to data as of July 1, 2019," Abakirov said.