Industry

Banks of Kyrgyzstan generate record high profits in 10M2022

BAKU, Azerbaijan, The Banks of Kyrgyzstan generated a record high amount of net profits from January through October 2022, Trend reports referring to the National Bank of Kyrgyzstan.

 

According to the preliminary data, the net profits of commercial banks of Kyrgyzstan in 10 months of this year amounted to 19.7 billion soms ($233.6 million), which is more than a fivefold increase over the same period in 2021 (3.5 billion soms, or $41.7 million).

 

Meanwhile, the total net profits of Kyrgyz banks in 2020 amounted to 2.3 billion soms ($27.2 million), in 2019 – 3 billion soms ($35.5 million).

 

As of November 19, 2022, the official exchange rate set by the National Bank of Kyrgyzstan is KGS 84,44/1USD.

 

Source: TREND News Agency