PRESS RELEASE
Almaty, December 9, 2021.
The international rating agency "S&P Global Ratings" published a report on the activities of JSC "Nurbank" regarding its financial condition at the end of 2020, including the indicators of the third quarter of 2021.
According to S&P analysts, Nurbank’s funding and liquidity indicators are similar to those of comparable Kazakhstani banks. Client trust remained stable in the first nine months of 2021, and the bank has established a sufficient liquidity buffer, which is a positive factor in the current macroeconomic situation.
"The 'Stable' outlook on Nurbank’s ratings reflects our expectation that the bank will gradually improve asset quality and maintain capital buffers in amounts sufficient for planned business development. We believe the bank will maintain a stable funding portfolio and adequate liquidity reserves," - S&P analysts noted.
In turn, according to the Chairman of the Bank's Management Board, Gulnara Musataeva, the Bank is currently in a phase of sustainable growth, and we expect further improvement in the loan portfolio quality and an increase in profitability indicators.
"The dynamics of the banking sector in the previous year indicate its increased resilience and growing ability to finance the economy. I am convinced that JSC "Nurbank" has a solid foundation for increasing its potential and possesses all the capabilities for enhancing its resilience and profitability. This financial condition report of Nurbank speaks of the bank's effective strategy, prudent fund management, as well as the trust from clients and partners of the bank," said G. Musataeva.
Main activity outcomes for the 11 months of 2021:
- The bank's assets amounted to 451.2 billion tenge;
- The loan portfolio growth since the beginning of the year amounted to 8.7%;
- The deposit portfolio grew by 12.2% since the beginning of the year and amounted to 312.0 billion tenge;
- The bank's net interest income increased 1.5 times.
As of December 1, 2021, the bank operates 17 branches and 98 banking service centers in Kazakhstan. In addition, the bank has an extensive alternative sales network. The number of ATMs and POS terminals reached 346 and 1889, respectively.
In the near future, the bank intends to implement strategic objectives for further business development, specifically:
- Expanding the volume of loans to individuals;
- Increasing market share in servicing retail and SME sectors;
- Enhancing the quality of the loan and deposit portfolios;
- Developing multichannel sales;
- Automating customer service processes.
Press Service of JSC "Nurbank"
media@nurbank.kz
