The Bai-Tushum and Partners Closed Joint-Stock Company Microfinance Bank has over 12 years of successful work experience as a microfinance organization in the market of the Kyrgyz Republic. The organization’s development history begins from 1997, when as part of the Food for Progress ... Read more
The Bai-Tushum and Partners Closed Joint-Stock Company Microfinance Bank has over 12 years of successful work experience as a microfinance organization in the market of the Kyrgyz Republic. The organization’s development history begins from 1997, when as part of the Food for Progress monetization program, the US Department of Agriculture provided funds to a USAID project to create loan funds for farmers of the Kyrgyz Republic.
In 2002, with the adoption of the Law on Microfinance Organizations in the Kyrgyz Republic, the Foundation was reregistered as “Bai-Tushum Financial Foundation” Microcredit Agency and received the certificate of the National Bank of the Kyrgyz Republic to carry out microcredit activities.
The organization has experienced transformation from Microcredit Agency to the Closed Joint-Stock Microfinance Bank Bai-Tushum and Partners with total assets of 112 million US dollars. Total amount of loans disbursed over 12 years of work is USD 267 773 894 or 140 730 clients.
On November 13, 2012 Bai-Tushum and Partners became the first microfinance institution in Central Asia by receiving a full banking license from the National Bank of the Kyrgyz Republic. Transformation of the Bai-Tushum and Partners into a Bank was a consistent step in implementation of the institutional development strategy for sustainable growth of the organization.
And on December 25, 2012, Bai-Tushum and Partners Microfinance Bank CJSC was included in the register of banks participating in the Deposit Protection System of the Kyrgyz Republic as N23/12 based on the Order #17 of the Deposit Protection Agency of the Kyrgyz Republic.
In 12 years of operation, the Bai-Tushum and Partners Microfinance Bank entered the banking sector as a dynamically developing institution with an impeccable reputation, well-prepared strategy for 2013-2016 and a clear-cut achievement plan, which in many respects determine the successful implementation of the strategic objectives.
The 2012 results show that the Bai-Tushum and Partners Bank took the following positions in the banking sector:
• 5th place in terms of authorized capital or 6% of the banking sector capital
• 6th place in terms of assets or 5% of the banking sector assets
• 6th place in terms of attracted funds or 6%
• 7th place in terms loan portfolio or 7%
• serving about 30,000 clients
• wide branch network: 63 points of service Hide