Banking and Finance sector
“Demir Kyrgyz International Bank” CJSC (DKIB) is the first international commercial bank in the Kyrgyz Republic. Demir Bank was established in Bishkek in accordance with the legislation of the Kyrgyz Republic. And it received all the necessary licenses to conduct banking activities in the Kyrgyz Republic on May 2, 1997. The official opening ceremony of the Bank was held on May 28, 1997 with the participation of the President of the Kyrgyz Republic and representatives of all shareholders. Authorized share capital is 132,540,000 soms. 15 years ago, when Kyrgyzstan carried out a series of measures to create a favorable environment for attracting foreign capital into the country’s economy, the foundation of Demir Bank was a significant event, as it was the first commercial bank with 100% authorized capital composed of foreign investments. During the period of its formation DKIB had quite a difficult path: survived the Russian crisis of 1998, the Turkish crisis of 2000, but, despite all the difficulties, the Bank not only did not lost its position in the banking market of Kyrgyzstan, but also to strengthened it. Today Demir Bank – is a modern financial institution, which has achieved significant results in the banking market and currently is among the top five commercial banks of Kyrgyzstan in terms of assets, equity and profit. Bank significantly contributes to the development of Kyrgyzstan’s economy in general and to the banking sector in particular, and has a great impact on improving the state of the banking system.