Message from the Chairman of the Board of Directors

29 June 2017

To all our Stakeholders, Employees and Clients,

On behalf of the Board of Directors of Kompanion Bank CJSC, it is with deep regret that I announce that Ulanbek Termechikov, our Chief Executive Officer, has made a decision to resign. Ulanbek has served with distinction and dedication as our CEO for the last 8 years, guiding the bank through challenging periods to unsurpassed growth and profitability. During his tenure, the bank has more than doubled its asset size from $41 million in 2009, to $93 million currently, and has grown its capital to over $20 million. Under his able leadership, the bank has expanded its geographic presence and has increased the branch network from 82 to its current level of 112, with nearly 100,000 clients served across Kyrgyzstan by over 1,000 Kompanion employees. Ulanbek was instrumental in transitioning the bank from a microfinance institution into a fully-fledged licensed commercial bank offering a wide array of MSME lending, deposit, cash management and development services and products.

Beyond his intuitive skills as a bank manager, Ulanbek demonstrated a passion to lead his team forward, successfully surmounting difficult obstacles. He always demonstrated a concern for those he worked with, and continues to exhibit a deep love for the Kompanion. 

Until such time as a permanent CEO is named, our Chief Operating Officer, Erkinbek Jumabaev, will serve as the acting CEO. 

Best regards, 

Steve Mitchell

Chairman of the Board of Directors 

Kompanion Bank

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