Rysgal Joint-Stock Commercial Bank, Ashgabat, Turkmenistan (Photo: Güneşli Watan ES)

The balance on loans of Turkmenistan’s Rysgal Joint-Stock Commercial Bank in January 2021 amounted to 5.75 billion manats, increasing by 47.8% compared to the same period last year, Ashgabat-based Rysgal newspaper reported on Monday.

The volume of funds of the Rysgal bank attracted from the population and clients increased by 109.5% to 3.097 billion manats. The bank’s assets are growing steadily as a result of financing a number of large projects in the country, according to the report.

More than 90% of the bank clients’ payment transactions are carried through the bank’s Internet banking system. Rysgal bank also provides QR code payment system, which is widely used in banks around the world.

In order to improve the quality of its services, Rysgal Bank, together with Mastercard International, has launched 4 types of contactless payment cards – Platinum, Gold, Standard and Maestro cards.

The bank has issued over 48 thousand plastic cards last year and increases this figure day by day. As a result, the amount of non-cash payments through the bank's card system increased almost 3 times compared to last year and amounted to more than 755.6 million manats.

This year, Rysgal JSCB has decided to increase its authorized capital to 200 million manats.

Business Turkmenistan