OREANDA-NEWS. On June 29, 2007 shareholders of Kyrgyz Investment and Credit Bank (KICB) and Habib Bank Limited, Pakistan (HBL) signed a new Shareholders Agreement for capital increase of KICB by USD 3 million and accepting HBL as new strategic shareholder of KICB, reported the press-centre of KICB.

Based on this new Shareholders Agreement, paid-in capital of KICB will be increased from USD 7 million to USD 10 million through subscription to new shares by existing shareholders and HBL.
 
Since its establishment in 2001, KICB has become a leading bank in providing medium to long term loans and working capital loans to  private companies and entrepreneurs. The bank has also started providing residential mortgage loans since 2006 under very competitive conditions.
 
“The increase in capital of the bank will allow KICB to attract at least USD 10 million additional credit lines from its shareholders at very reasonable condition which will, in turn, be utilized as resources for its investment loans to private sector of Kyrgyz economy and long term residential mortgage loans,” said Mr. Shahid Loan, Chairman of the Board of Directors of KICB. He also added: “We expect additional lending resources will contribute to further economic development in the Kyrgyz Republic.” The Chairman also said that the bank was very keen to participate in the development of the tourism sector and in this regards, the bank initiated a dialogue with the IFIs to structure long term funding arrangements.
 
According to the Secretary of the State Committee for State Property, Mr. Almazbek Imanaliev: “The signing of Shareholders Agreement of KICB demonstrates that foreign investors are comfortable with the current investment climate and future prospect of the Kyrgyz Republic”.

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Habib Bank LTD is the biggest commercial bank in Pakistan with leading positions in fields of corporate and small and medium enterprise lending. Habib Bank has over 50 branches overseas.
 
A large capital of a bank is the main indictor of customers'deposits safety and a reliable base for growth.