Question 1

What is Tolubay Bank?

Accepted Answer

Tolubay Bank is a commercial bank operating in the Kyrgyz Republic. It is a closed joint-stock company (CJSC) that provides a comprehensive range of banking services to both retail and corporate clients throughout Kyrgyzstan.

The bank is named after Tolubay Synchy, a legendary Kyrgyz sage and advisor who lived in the 14th-15th centuries and was known for his wisdom, eloquence, and expertise in evaluating horses. As a systemically important bank in Kyrgyzstan's financial sector, Tolubay Bank has established itself as a reliable partner for individuals, small and medium-sized businesses, and large enterprises.

Question 2

When was Tolubay Bank founded?

Accepted Answer

Tolubay Bank was founded on January 24, 1996, by 14 young university graduates with an initial authorized capital of 5 million soms. The bank was established as a joint-stock company during the early years of Kyrgyzstan's independence when the country was developing its commercial banking sector.

Since its founding, the bank has demonstrated consistent growth. Over its operational history, Tolubay Bank has increased its authorized capital from the initial 5 million soms to 700 million soms (as of 2022), reflecting both additional shareholder investments and the bank's successful performance in navigating Kyrgyzstan's evolving financial landscape.

Question 3

Where is Tolubay Bank headquartered?

Accepted Answer

Tolubay Bank is headquartered in Bishkek, the capital city of Kyrgyzstan. The head office is located at 105 Umetalieva Street, Bishkek.

The bank's main contact numbers are +996 (312) 902-902 and +996 (312) 392-392. The head office serves as the central hub for the bank's operations and strategic management across the country.

Question 4

Where does Tolubay Bank operate?

Accepted Answer

Tolubay Bank operates throughout the Kyrgyz Republic with a network of branches and sub-branches. As of 2020, the bank maintained 2 branches in addition to its head office in Bishkek.

The bank has expanded its geographic presence to provide access to banking services for residents of smaller cities and towns across Kyrgyzstan. The bank also operates a network of ATMs and POS terminals throughout the country to enhance customer convenience and accessibility to banking services.

Question 5

What services does Tolubay Bank offer?

Accepted Answer

Tolubay Bank offers a full spectrum of banking services for both retail and corporate clients:

Lending Services: Consumer loans (secured and unsecured), mortgage lending, business development financing, and loans secured by both immovable and movable property. The bank is particularly known for its efficient credit processing, with loan approval and disbursement typically completed within 1-2 days when all documentation is in order.

Deposit Products: Term deposits in both national and foreign currencies, including specialized products such as the "Gold" deposit, "Live Rich" deposit, "For Children" deposit, "My Wealth" deposit, and special deposits for World War II veterans and home front workers.

Payment Cards: Issuance and servicing of payment cards exclusively through the national payment system "Elcard" for both retail customers (including specialized cards for pensioners) and corporate salary projects.

Digital Banking: Free internet banking with 24/7 account access, and a mobile banking application launched in September 2022 available on both Google Play Store and Apple App Store. The mobile app enables account management, loan repayment, utility payments, currency exchange, transfers to other Kyrgyz banks, and electronic wallet top-ups.

Other Services: Currency exchange operations, money transfers (including Zolotaya Korona system), safe deposit boxes, securities operations, trade finance, and account opening and maintenance for both individuals and legal entities.

Question 6

What makes Tolubay Bank unique?

Accepted Answer

Tolubay Bank distinguishes itself through several key characteristics:

Exceptional Lending Capability: The bank has built a strong reputation for its consumer and SME lending programs, offering flexible terms and rapid processing times. Creditworthiness assessment and loan disbursement can be completed within 1-2 days, demonstrating operational efficiency.

Resilient Performance: Having operated for nearly three decades, Tolubay Bank has successfully weathered various economic challenges in Kyrgyzstan's post-independence era. The bank grew its authorized capital from 5 million to 700 million soms, demonstrating financial stability and stakeholder confidence.

Personal Approach: The bank emphasizes building partnerships with clients through an individual approach, serving everyone from small entrepreneurs to large corporations and government structures. This flexibility in client relationships has been a cornerstone of the bank's business strategy.

Cultural Significance: The bank's unique name honors Tolubay Synchy, a 14th-15th century Kyrgyz sage celebrated in the poem "Tolubay Synchy" by renowned Kyrgyz poet Alykul Osmonov. This connection to Kyrgyz cultural heritage reflects the bank's deep roots in the local community.

Question 7

What type of financial institution is Tolubay Bank?

Accepted Answer

Tolubay Bank is a commercial bank structured as a Closed Joint-Stock Company (CJSC JSCB "Tolubay"). It holds banking license numbers 032 and 032/1 issued by the National Bank of the Kyrgyz Republic.

As a commercial bank, Tolubay Bank is authorized to conduct the full range of banking operations permitted under Kyrgyz banking regulations. This includes deposit-taking, lending, payment services, currency operations, and other financial services for both retail and corporate clients. The bank operates under the supervision and regulatory framework established by the National Bank of the Kyrgyz Republic, the country's central bank and primary banking regulator.

Tolubay Bank

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About Tolubay Bank in Kyrgyzstan