The President of the Kyrgyz Republic recognized Eldik Bank as the successor to Kyrgyzstan's savings culture.
According to Decree No. 302 of the President of the Kyrgyz Republic, Sadyr Japarov, dated October 30, 2025, Eldik Bank OJSC is officially recognized as the successor to the savings culture in Kyrgyzstan, which began in 1925.
The document enshrines Eldik Bank's special role in preserving and developing the traditions of thrift and trust formed over 100 years of savings history in the country. The main goal of the decision is to preserve the historical legacy and strengthen the culture of financial responsibility among the citizens of Kyrgyzstan.
Historical Heritage
The first Soviet savings banks in Kyrgyzstan appeared in 1925 in the city of Osh and the Jangi-Jol district. They marked the beginning of a rich, century-long history of savings in the country: here, one could not only store money but also make money transfers, issue loan certificates, and conduct transactions with interest-bearing and securities. In Bishkek (then Frunze), one of the first savings banks was located at the intersection of Sovetskaya and Frunze Streets. The building still stands, and a sign on the façade advertises the opportunity to deposit money.
During the Great Patriotic War, savings banks actively supported the Soviet Army, holding public lotteries to support the front.
In the post-war years, they became a symbol of citizens' trust in the state. People not only saved but also participated in the then-popular "deposit draws."
In 1963, savings banks were transferred to the State Bank of the USSR as a separate institution. They became an integral part of the lives of Kyrgyz citizens. They were trusted implicitly, and it was known that they could do more than just save money. During this period, savings banks provided a fairly wide range of services. In 1987, an important transformation took place: savings banks in the republic became the Kyrgyz Republican Bank of the USSR Savings Bank. It was no longer just a collection of cash desks, but a powerful financial institution familiar to every resident of the country.
Transformation Stages
1987 – Transformation into the Kyrgyz Republican Bank of the USSR Savings Bank;
1991 – Transformation into the Commercial "Kyrgyzbank";
1996 – Liquidation of "Kyrgyzbank";
1996 – Establishment of JSC "Settlement and Savings Company";
1997 – JSC "Settlement and Savings Company" was recognized as the agent of the Government of the Kyrgyz Republic for the restoration of citizens' savings deposited in "Kyrgyzbank";
- 2008 – OJSC "Settlement and Savings Company" was renamed OJSC "RSK Bank"; - 2024 – RSK Bank OJSC was renamed Eldik Bank OJSC.
Eldik Bank proudly continues the century-old tradition of savings in Kyrgyzstan, carefully preserving the experience of generations and the invaluable legacy of trust that leads us into the future.
"Recognizing Eldik Bank as the successor to the savings culture is not only a great honor but also a tremendous responsibility to the country and its people. We are the heirs to a century-long history of trust and thrift, and it is important for us not only to preserve this legacy but to enhance it through innovation, sustainable development, and support for our clients. In accordance with the Presidential Decree, Eldik Bank is implementing a large-scale program of events dedicated to the 100th anniversary of savings in Kyrgyzstan, including initiatives to improve financial literacy, develop a savings culture, and strengthen trust in the national banking system," emphasized Ulanbek Nogaev, Chairman of the Management Board of Eldik Bank.
