Research Update: Kyrgyzstan-Based Aiyl Bank OJSC Assigned 'B+/B' Ratings; Outlook Stable

Open joint stock commercial (OJSC) bank Aiyl Bank OJSC is the largest bank in Kyrgyzstan (B+/Stable/B) with a market share of about 20% of system-wide assets and deposits. In our view, since the bank is fully owned by Kyrgyzstan's government, it will continue to benefit from on-going government support while providing banking services to companies and workers in the agribusiness sector. We assigned our 'B+/B' long- and short-term issuer credit ratings on Aiyl Bank. The stable outlook on Aiyl Bank mirrors that on the sovereign and reflects our view that adequate capital buffers and strong links with the government will help the bank maintain its creditworthiness over the next 12 months. On April 25, 2025, S&P Global Ratings assigned its

...- Open joint stock commercial (OJSC) bank Aiyl Bank OJSC is the largest bank in Kyrgyzstan (B+/Stable/B) with a market share of about 20% of system-wide assets and deposits. - In our view, since the bank is fully owned by Kyrgyzstan's government, it will continue to benefit from on-going government support while providing banking services to companies and workers in the agribusiness sector. - We assigned our 'B+/B' long- and short-term issuer credit ratings on Aiyl Bank. - The stable outlook on Aiyl Bank mirrors that on the sovereign and reflects our view that adequate capital buffers and strong links with the government will help the bank maintain its creditworthiness over the next 12 months....

Research Update