Total revenues of the financial sector of Kyrgyzstan for January-September amounted to 115.1 billion KGS, which is 26% or almost 24 billion KGS more compared to the same period of 2023.

Despite the fact that 619 organizations operate in the sector, of which 581 are non-banking institutions, 21 commercial banks account for 85.8% of all revenues of the sector.

During the reporting period, commercial banks' revenues reached 98.7 billion KGS, increasing by 19.8 billion KGS or 25.1% year-on-year. Such growth was the key driver of the increase in financial performance of the entire industry.

Other market participants - pawnshops, microcredit organizations, credit unions and insurance companies - also demonstrated an increase in revenues, but their contribution remains significantly smaller compared to commercial banks.

Along with the growth of revenues of the banking sector, its expenditures have also increased. For nine months, commercial banks spent 68.96 billion KGS. This is by 19.2 billion KGS more than in the same period last year.

As a result, the net profit of the banking sector amounted to 29.74 billion KGS, which is only by 548 million KGS more than last year's figure. Thus, a significant part of additional income of banks was absorbed by the growth of expenses.