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News / IBC Members and Partners news /
Kompanion Bank won the International Innovation Award

January 3, 2018

Kompanion Bank continues to contribute to the development of communities, receiving a high international recognition for its activities. In December 2017 the Kompanion Bank won the Innovation Award of the Microfinance Center for Innovation Achievements. The world community highly appreciated the bank's project that provides remote access to financial services through the introduction of special designed system for collecting, storing and analyzing geographic data in agribusiness development services.

The Innovation Award helps to identify new trends in optimizing business processes through the use of modern technologies since 2016. In addition to general recognition, the winner of the Prize received a license for software and 20 tablets from Software Group.

The official awarding will take place at the annual conference of Microfinance centre in 2018.

"Our community development services through established agronomists and veterinarians are integrated with financial products. We not only provide financial services, but also accompany clients with consulting support for the development of agribusiness. Such a high international recognition indicates that the Kompanion's efforts to develop agriculture and livestock are in the right direction. Introduction of accessible innovative tools will allow optimizing and simplifying the process of using banking services for residents of rural and remote regions, "said Erkinbek Jumabaev, Chairman of the Executive Management Board of Kompanion CJSC.

Kompanion Bank has been operating in the financial market of Kyrgyzstan since 2004. The bank offers a holistic range of financial products and services for the development of agribusiness. Since 2011 the technical support staff of the bank, consisting of 32 agronomists and veterinarians, provides an opportunity for vulnerable communities in remote regions to complete annual training in agronomy and livestock. Applying this knowledge and skills, households improve the quality of the crop and increase the productivity of livestock, which leads to increased incomes. At the end of 2016, 63% of families that completed yearly training increased their income compared to 2015.

About:

Kompanion Bank CJSC was established in 2004. Since the foundation of the Kompanion has passed all stages of institutional development and significantly expanded its presence in the market of Kyrgyzstan. The bank with assets of 6.3 billion soms and an authorized capital of more than 1 billion som serves 93 thousand customers and has 115 branches throughout the country. The Bank's shareholders are the international non-governmental organization Mercy Corps, the Dutch Development Bank (FMO) and the European Investment funds Triodos Investment Management.