Open Joint Stock Company “Halyk Bank Kyrgyzstan” was established after the acquisition of 100 percent of shares of Kairat Bank OJSC, one of the leaders of the banking market of the Republic of Kazakhstan, JSC “Halyk Bank of Kazakhstan” (Certificate of State Re-registration of Legal Entity No. 076929 series GPR dated December 23, 2004).

Open Joint Stock Company “Halyk Bank Kyrgyzstan” before renaming was named as Joint Stock Company of open type “Kairat Bank”, and was established by the National Bank of the Kyrgyz Republic on April 16, 1999, by restructuring of JSCB “Maksat” - one of the pioneers in the formation of commercial banks in the Kyrgyz Republic. Since March 2001, according to the Resolution of the Government of the Kyrgyz Republic No. 87 dated March 9, 2001, the Government of the Kyrgyz Republic became the sole shareholder of Kairat Bank OJSC and further transferred to the State Committee of the Kyrgyz Republic on State Property Management.

In early 2004, the Government of the Kyrgyz Republic made a decision to privatize Kairat Bank OJSC. The main purpose of privatization of Kairat Bank OJSC was to attract strategic investors who could ensure further development of the bank, which would bring the latest technologies and experience of effective management to banking activities. After the tender, Halyk Bank of Kazakhstan JSC was announced the winner.

In connection with the acquisition of 100 percent of shares of Kairat Bank OJSC by Halyk Bank of Kazakhstan JSC, one of the leaders of the banking market of the Republic of Kazakhstan, the Bank made the state re-registration of the legal entity in the Ministry of Justice of the Kyrgyz Republic (Certificate on state re-registration of the legal entity No. 076929 series GPR dated December 23, 2004) and from that moment it became known as Halyk Bank Kyrgyzstan OJSC.

Halyk Bank Kyrgyzstan OJSC is the first commercial bank in the Kyrgyz Republic to become a member of the S.W.I.F.T. community.