OREANDA-NEWS. December 13, 2013. CJSC “Kyrgyz Investment and Credit Bank” (KICB) received one of the most prestigious awards “Bank of the Year 2013” from the Banker magazine under the Financial Times.

“Bank of the Year” award from “The Banker” is awarded to banks in different countries, which proved to be successful and efficiently operating financial institutions that provide high quality services to individuals and businesses, as well as ensure high profitability for its shareholders.

In its publication “The Banker” notes that KICB has won the award “Bank of the Year 2013 in Kyrgyzstan” in the field of insurance, mobile banking and initiatives in the bond market that have distinguished KICB from its competitors, as well as increased profits.

“We strive to be a sustainable bank providing innovative products for financial involvement of a large number of unbanked population. The mobile banking is one of our key strategic products in the coming year. Furthermore, KICB is exploring the possibility to position itself as a regional bank in Central Asia” says Kwang Young Choi, KICB’s Chief Executive Officer.

KICB was awarded as “Bank of the Year 2013” for constant work on new banking services. In 2013, the bank acquired an insurance company CJSC "Jubilee Kyrgyzstan Insurance Company", which currently provides general insurance of business. The authorized capital of "Jubilee Kyrgyzstan Insurance Company" in early 2014 will increase to 77 million soms, "which will make it an insurance company with the highest capital in Kyrgyzstan" - said "The Banker". Another innovative initiative was the issue of the bank's corporate bonds in local currency. Bonds were successfully sold prematurely. ”The Banker” believes that the "success of KICB will allow other institutions to use local currency funds, thereby obtaining money that can be given to their business customers, allowing them to avoid currency risks".