Aiyl Bank completed conversion of dollar loans into KGS for the farmers

«Presently Aiyl Bank received many requests from farmers for conversion of loan debts from foreign currency into Kyrgyz som. Since our bank's mission is support of agrarian sector the Bank made decision to make conversion of currencies, Erkin Asanaliev, Bank Board Chair, told in his interview.

We have developed the new product - «Transformation-Leasing» under favorable conditions: term is similar to leasing, interest rate is 20% per annum min national currency. We must note interest rate on leasing in foreign currency is only 15-17% per annum. Foreign exchange risks on loan received from China's State Development Bank will be covered by Aiyl Bank. Farmers have to apply to the nearest China's State Development Bank branch office for leasing currency formalization procedures.

Aiyl Bank has reached significant results for the last years: as of 01.01.2016 Bank assets are 17,2 bln.som and increased more than 1,5 times comparing to similar period of last year. Loan portfolio is 10,2 bln.som and increased more than 1,3 times comparing to similar period of 2015. At the same time loan repayment rate is over 99%.