Changes in the Board of Directors of JSC Nurbank

JSC Nurbank announces that the Chairman of the Board, Gulnara Musataeiva, has decided to leave her position due to personal reasons.

Gulnara Musataeiva has been with Nurbank since 2011. Over the years, she has held positions as Managing Director - Board Member and Deputy Chairman of the Board. Since September 29, 2021, she has led the bank's Board.

Her leadership period coincided with the bank's transformation and strengthening of its market positions. From 2021–2025, Nurbank showed stable dynamics in key financial metrics and implemented several strategic initiatives.

Key results include:

• the bank's net profit more than doubled, reaching 13.2 billion tenge;
• the loan portfolio grew at an accelerated pace (up to +35% in 2025), while the NPL level decreased from 8.33% to 5.15%;
• the deposit portfolio increased to 395 billion tenge;
• early repayment of state assistance under the recovery program was initiated;
• in 2024, S&P Global Ratings upgraded the credit rating to 'B' with a stable outlook;
• a new development strategy focusing on digital transformation, transactional business, and SME was implemented.

As part of the strategy, the bank strengthened its positions in the SME and transactional business, forming one of the broadest ranges of payment solutions in the market, as well as taking leading positions in digital tenge projects and the development of digital services.

The shareholder of the financial institution highly appreciated Gulnara Musataeiva's work as Chairman of the Board and her contribution to the development of Nurbank: "Gulnara Musataeiva's leadership period was a stage of qualitative transformation for Nurbank. The bank succeeded not only in strengthening financial stability but also in transitioning to a new development model based on digitalization and income diversification. Significant results have been achieved in profit growth, asset quality, and the development of new business directions. We thank Gulnara Musataeiva for her professional management, systematic approach, and contribution to the bank's long-term development."

"In recent years, the bank's team has implemented several important strategic tasks. Nurbank has reached a stage of further growth with a sustainable business model and a clear strategy. I am grateful to the team and shareholders for their trust and joint work. The decision to end my work is related to personal circumstances," noted Gulnara Musataeiva.

JSC Nurbank will continue to implement the approved development strategy. All current projects and the bank's operational activities are carried out in the normal course of business.

JSC Nurbank operates under license No. 1.2.15/193 dated February 3, 2020, issued by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market.