Best bank: Mbank
Mbank is Kyrgyzstan’s best bank, driven by strong, well-balanced growth across retail, corporate and digital banking, and supported by consistent execution and scale.
The bank’s retail segment delivered a standout performance, with revenue increasing by approximately 38% during 2025. Customer numbers expanded by around 20%, while retail deposits grew by 63% and the loan portfolio surged by 94% in the same period, reflecting strong demand, high engagement and effective digital distribution.
In corporate and SME banking, Mbank also achieved robust expansion. Revenues rose by over 30%, while corporate deposits grew by approximately 116%, demonstrating its ability to capture client liquidity throughout 2025. Lending to SME and corporate clients increased by 79%, and the client base expanded by nearly 95% in the same period, supported by rapid digital onboarding and integrated financial solutions.
Investment banking contributed positively, with revenues showing a strong recovery and increasing by over 100% between interim and full-year periods, reflecting improved activity and diversification of income streams.
This growth is underpinned by market-leading innovation and digitalisation. Over 99% of retail products are originated digitally, with account opening reduced to around three minutes. Active mobile users grew by 26%, reinforcing scale and engagement.
In parallel, its mobile-first SME platform enables seamless onboarding, including large-scale digital account openings alongside embedded services such as payments, payroll and tax integration, positioning Mbank as a leading digital banking platform in Kyrgyzstan.
Best bank for SMEs: Mbank
Mbank has built its SME proposition around reducing the administrative work required to establish and operate a small business. MBusiness combines account management, payments and transaction monitoring in a mobile service designed for entrepreneurs, while customers can also open a business current account remotely. Sole traders who have not yet registered can obtain entrepreneur status through the bank’s digital channels without visiting the tax authorities.
MKassa extends that model from banking into business operations. Entrepreneurs can register for the service through a smartphone and begin accepting card and QR payments without visiting a branch. The package includes payment acceptance, outlet and cashier management, transaction analytics and an optional online fiscal cash register. A current account is opened automatically during registration for customers who do not already have one, and QR receipts can be credited on the same day.
Mbank has also digitised the management of surplus cash. Its daily deposit, introduced through MBusiness in April 2025, calculates and pays interest each day on the closing balance. Entrepreneurs can withdraw funds without losing interest already credited and manage the deposit through the application, making it suitable for businesses whose liquidity requirements change frequently.
Support for women-led businesses adds a more targeted element. Mbank and Visa launched the She’s Next programme in Kyrgyzstan in 2025, combining six online training modules with a business plan competition. Six winners shared $19,000 of grants, while qualifying finalists could apply for preferential financing, including unsecured loans of up to KGS500,000 ($5,718). Mbank also joined the EBRD-backed WE Finance Code and introduced a dedicated Business Women lending programme.
Mbank’s strength lies in linking formalisation, banking and payment acceptance within one digital journey. An entrepreneur can register a business, open an account, accept and fiscalise payments, manage cash and apply for finance without relying on a traditional branch relationship.
Best digital bank for consumers: DemirBank
DemirBank secured its position as Kyrgyzstan’s best digital bank for consumers through strong growth in digital adoption, customer acquisition and product innovation in 2025.
The bank reported a steady rise in digital engagement, with digital monthly active users increasing to 58% from 54% over the awards period, alongside a significant improvement in digital sales penetration to 65% from 49%. This reflects a successful shift towards digital-first distribution.
At the same time, onboarding efficiency improved markedly, with average digital current account opening time reduced from approximately five to two minutes, enhancing customer convenience.
Retail scale also expanded, with total retail customers growing to 690,893 from 606,924, supported by 83,777 new customer additions over the review period. The bank deepened customer relationships, increasing average products per customer to 2.4 from 1.2. This was complemented by growth in retail deposits of 23.5% and retail loans of 65.8%, alongside retail revenue increasing by 44.7% during the review period.
Digital innovation has been central to this performance. The bank introduced fully digital products such as an education loan with a seamless application process and direct payment functionality, as well as instant cross-border transfers via mobile channels. Its mobile ecosystem integrates payments, transfers, utilities and subscription management within a single platform, strengthening daily customer engagement.
Enhanced customer experience is supported by real-time notifications, robust security including multi-factor authentication and AML monitoring, and plans to deploy AI and robotic process automation to further improve service quality and operational efficiency.
Best for consumer lending: DemirBank
DemirBank has demonstrated strong performance in consumer lending, driven by a clear strategy focused on accessibility, digitalisation and partnerships. Its hybrid model combines digital lending with an extensive partner ecosystem, enabling broader access to credit across Kyrgyzstan.
Through its mobile application, customers can access loans of up to KGS200,000 ($2,287), while point-of-sale express zones provide fast lending solutions of up to KGS500,000, significantly improving convenience and speed of access.
The bank’s partnership-led approach has been central to growth. Collaborations with car dealers and property developers, alongside subsidised programmes offering 0% or reduced interest instalments, have expanded affordability and access to larger consumer loans.
In parallel, the Card Plus instalment product has strengthened everyday lending by allowing flexible repayment over 6, 9 or 12 months across a network of more than 450 partner merchants. By the end of 2025, the Card Plus portfolio reached $915,000, highlighting sustained product uptake and innovation.
Digital transformation has been a key growth driver. The bank’s active digital audience reached 300,000 users, with engagement rising by 50%, enhancing conversion rates and operational efficiency. Salary-based programmes across more than 800 organisations added 83,800 customers, building a stable and verifiable borrower base.
Performance metrics further underline this momentum. The retail customer base grew by 12% in 2025, following 9% growth in 2024, while the overall loan portfolio increased by 21% to $36.8 million.
Overall, DemirBank’s investments in digital infrastructure, partnerships and customer-centric product design have driven scalable, accessible and efficient growth, establishing its leadership in consumer lending in Kyrgyzstan.
