PRESS RELEASE
Almaty
15.02.12
At a recent meeting of the Board of Directors of JSC 'Nurbank', Mukhtar Uzakhbayevich Idrisov was elected as the new Chairman of the Management Board, who officially took office on February 13, 2012.
Mr. Idrisov expressed gratitude to the Board of Directors for their trust and noted that the principles of Nurbank's operations would remain unchanged and based on the Bank's mission and values: transparency, openness, and professionalism.
Currently, Nurbank continues to adhere to a moderately conservative development policy, focusing on internal funding sources, moderate asset growth, and investing in the development of quality products and services for its clients.
At present, the Bank does not have large external loans, and the share of external borrowings in the Bank's funding base is one of the lowest among the 10 largest banks in Kazakhstan. In 2011, JSC 'Nurbank', whose shares and bonds are listed on the official list of the Kazakhstan Stock Exchange (KASE) in category 'A', completed the full planned redemption of five-year Eurobonds issued in 2006 for an amount of 150 million US dollars with a semi-annual coupon payment of 9.375% per annum. This redemption was made from the Bank's own funds.
According to consolidated financial statements, as of the end of the first half of 2011, net profit amounted to 794.7 million tenge. Assets as of July 1, 2011, amounted to 308.8 billion tenge, and equity was 71.2 billion tenge.
Nurbank has 16 branches and 54 universal banking service centers and additional branch offices in all regional centers of the republic
Background:
Before joining 'Nurbank', Mr. Idrisov held the position of Deputy Chairman of the Management Board of OJSC 'Moskommertsbank', (Moscow), as well as Deputy Chairman of the Management Board of OJSC 'Halyk Bank of Kazakhstan'.
In addition, he worked as a financial expert at LLP 'ALMEX', was a Member of the Board of Directors of JSC 'Almaty International Airport', and an independent director of JSC 'Kazkommertspolis', JSC 'Kazkommerts Life'.
Mr. Idrisov graduated from St. Petersburg State University and holds a Ph.D. in Economics.