Business · Companies · 1 hr ago
JB Financial to acquire two Kyrgyzstan finance companies
South Korea's JB Financial has agreed to buy two Kyrgyz finance companies, through its subsidiary JB Woori Capital.
The firms, Korky Credit and Korky Leasing, are owned by a holding company called Epoke, whose shares JB Woori Capital has agreed to acquire in full.
The deal would give JB Financial its first base in Central Asia and its fifth overseas market; it already operates in Cambodia, Myanmar and Vietnam, and is expanding in Indonesia.
JB Financial is drawn to Kyrgyzstan's young population and economic growth, though the International Monetary Fund expects growth to slow from 11.1% last year to 6.1% this year.
JB Woori Capital plans to make used-car lending and leasing a core business, using its experience in auto finance alongside the local firms' customer networks.
The strategy is intended to broaden JB Financial's income sources and build on established local operations rather than starting from scratch.
The acquisition still needs approval and registration from Kyrgyz authorities, and the group plans to complete it by the end of the year.
JB Financial Group has agreed to acquire 100% of the parent company of Kyrgyzstan finance firms Korky Credit and Korky Leasing.
The deal would mark the South Korean group’s first move into Central Asia and its fifth overseas base.
Its subsidiary JB Woori Capital plans to build its business around auto finance, including car loans and leasing.
The acquisition is subject to local regulatory approval and registration, with completion planned by the end of 2026.
- Who
- JB Financial Group, through subsidiary JB Woori Capital, and Kyrgyzstan-based Korky Credit and Korky Leasing.
- What
- JB Woori Capital signed an agreement to acquire 100% of the firms’ parent company, Epoch.
- When
- The agreement was announced on October 22, 2026. Completion is planned by the end of the year, subject to approvals.
- Where
- Kyrgyzstan.
- Why
- JB Financial aims to expand its overseas business into Central Asia and develop auto finance in response to rising local demand for used cars.
This story does not have two clearly opposing sides.
JB Financial Group announced that JB Woori Capital had signed the acquisition agreement.
The group plans to complete the acquisition after local regulatory approval and registration.
- Companies
- Korky Credit and Korky Leasing
- Buyer
- JB Woori Capital, a subsidiary of JB Financial Group
- Stake
- 100% of Epoch, the firms’ parent company
- Planned completion
- By the end of 2026, subject to local approvals
- Planned focus
- Auto finance, including car loans and leasing
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What people are saying
This acquisition is a strategic decision to expand our financial network beyond Southeast Asia into Central Asia.