Eldik Bank: A New Stage in the Development of the Country’s Digital Economy

A ceremonial event was held in Bishkek to mark the completion of a strategic transaction — OJSC Eldik Bank’s acquisition of 100% of the shares in Sky Mobile LLC (operating under the Beeline Kyrgyzstan brand). This transaction represents a landmark step toward strengthening digital sovereignty and advancing the national telecommunications and financial infrastructure.

The ceremony was attended by Chairman of the Cabinet of Ministers – Chief of Staff of the President of the Kyrgyz Republic Adylbek Kasymaliev, representatives of the Cabinet of Ministers, members of the Jogorku Kenesh, representatives of the National Bank of the Kyrgyz Republic, the banking sector, partner organizations, clients of Eldik Bank, and others.

In his address, Adylbek Kasymaliev emphasized that the acquisition of a strategic telecom asset by a state-owned bank is part of President Sadyr Japarov’s systemic policy aimed at protecting national interests, developing digital infrastructure, modernizing the economy, and expanding citizens’ access to modern services.

“It was the support of the Head of State that created the political will, institutional foundation, and investment environment that made this ambitious project possible. This transaction was carried out in full compliance with international M&A and corporate governance standards, underscoring our high level of readiness for cooperation with leading global companies and investors,” he said.

Chairman of the Management Board of OJSC Eldik Bank Ulanbek Nogaev stated: “Ahead of us lie significant stages of integration and modernization of Beeline, with the goal of transforming the company into a strong and modern digital operator that meets global standards. The combination of banking and telecommunications services will open unique opportunities for building an ecosystem that includes unified applications, new financial products, convenient electronic payments, and one-click access to government services.”

The acquisition of Beeline Kyrgyzstan will enable Eldik Bank to accelerate the country’s digital transformation, create an application that unites banking, telecommunications, and government services, introduce 5G and advanced communication technologies, expand access to digital services in the regions, and raise the level of financial and digital literacy among the population.

This transaction strengthens Kyrgyzstan’s position on the international investment map and demonstrates the country’s potential for large-scale strategic deals with leading global players. It is worth noting that the deal was structured under English law with the involvement of leading international legal and financial advisors, in full compliance with global M&A and corporate governance practices. In the near future, Eldik Bank and Beeline Kyrgyzstan will launch ambitious projects that will mark an important milestone in the development of both companies.

These initiatives open new prospects for growth and innovation, while also playing a key role in accelerating Kyrgyzstan’s economic progress.