Jalal-Abad, Kyrgyz Republic, April 28, 2015. Today KICB new office premises of Jalal-Abad branch was officially opened in presence of the Authorized representative of the Government in Jalal-Abad oblast – Ms. Dzhumagul Egamberdieva, Mayor of Talas city – Mr. Salaidin Avazov and Members of KICB Board of Directors. The opening ceremony was attended by over 200 guests, including officials from Jalal-Abad city parliament, National Bank of Kyrgyz Republic and bank's customers and partners.

Located right in the center of Jalal-Abad, at the intersection of Lenina and Erkindik streets, the new modern Jalal-Abad branch premises occupies four floors with a gross area of 722 square meters and is equipped with modern banking facilities and a strong security system, which will further improve the quality of service of the Bank and increase its efficiency. The new building houses a number of operational units and can accommodate over 30 staff.

“We believe new KICB Jalal-Abad premises demonstrate strong commitment of our shareholders to the citizens of Jalal-Abad city and the oblast” – said Mr. Kwang Young Choi, Chief Executive Officer of KICB.

“Jalal-Abad as very important region of Kyrgyzstan, where KICB started its operations in April 2007 by opening a small branch in rented premises. Since 2007 Jalal-Abad branch of KICB bank has been growing in parallel with the way of economic development of the Jalal-Abad region”, said Mr. Zakir Mahmood – Chairman of the Board of Directors of KICB. “I would like to assure”, he continued, “that Board of Directors of KICB are fully committed to support and develop KICB further and we expect that KICB will grow up as a bank which will continue playing key role for the economic development of the country while increasing its social responsibility”.

Construction of a new building of KICB Jalal-Abad branch started in July 2012 and was completed in February 2015. When preparing the design of the building, the main priority was given to safety of the branch operations and comfort and friendly environment for the bank’s customers. Number of operations and cash counters was increased and now more bank’s customers can be served simultaneously with separate areas for corporate customers. The building is equipped with all necessary infrastructures for un-interrupted bank services. It also has very spacious safe deposit boxes area.

Apart from opening of new Jalal-Abad branch premises with bigger capacity for customer service, KICB is actively promoting its new product – ELSOM. Product was introduced not only in Kyrgyzstan but also in Central Asia. Through ELSOM mobile banking services can be provided as in the big cities as well in all small towns and villages of Kyrgyzstan.

For reference:

CJSC "Kyrgyz Investment and Credit Bank” (KICB) was established in 2001. The authorized capital of the Bank as of 01.01.2015 totaled 17.5 million. US dollars. The Bank has the highest authorized capital among the commercial banks of Kyrgyzstan. The Bank has a network of 16 branches and 22 offices across the country, providing a full range of banking services. The shareholders of the bank are the Kyrgyz Republic (10%) and the world-renowned financial institutions (90%). The international shareholders include the Aga-Khan Fund for Economic Development (AKFED) - 21%, the Habib Bank Limited (HBL) -18%, the German Development Bank (DEG) -17%, the European Bank for Reconstruction and Development (EBRD) -17% and the International Finance Corporation (IFC) - a member of the World Bank Group - 17%.