On May 22, 2020, a Major Shareholder completed the capitalization of JSC 'Nurbank' for a total of 20.038 billion tenge using own funds.
Thus, the obligations within participating in the Program for Enhancing Financial Stability following the asset quality review (AQR) were fulfilled.
As noted by the Chairman of the Board of JSC 'Nurbank', Eldar Sarsenov: 'The conducted bank capitalization increases the reliability and financial stability of the bank, helps to withstand ongoing crisis phenomena, and enables the bank's further growth according to our chosen strategy.'
The raised funds will be directed towards increasing the 'safety cushion' for the bank's creditors and depositors, as well as lending to the real sector of the economy and financing small and medium-sized enterprises.
'The high capitalization and liquidity of JSC 'Nurbank' allowed the bank to endure during this challenging time, maintaining client services at a proper high level. We continued to fulfill all obligations to clients, providing over 20 thousand credit deferrals in a relatively short time.
Currently, Nurbank is actively expanding its ATM network; in the first quarter, 50 new ATMs were acquired. In the coming months, we are completing the project of implementing the new automated banking system 'Colvir', which will allow us to organize our business processes more effectively in all directions,' added Eldar Sarsenov.
Reference:
As of the beginning of the year, the capital adequacy level of JSC 'Nurbank' with a standard of 10% was 19%, and the current liquidity with a standard of 0.3 was 1.7. The volume of issued loans significantly increased. From January to April of this year, disbursements exceeded last year's level by 16.5%.
From the beginning of 2020, interest income increased by 9% compared to the same period last year. In corporate business, this indicator grew by 10%.
The deposit portfolio grew by 3.5 billion tenge or 1.3% since the beginning of the year.
Income from dealing operations increased significantly, more than 2.5 times compared to the same period last year, amounting to 2.6 billion tenge.
Press Service of JSC 'Nurbank'