Almaty, September 22, 2021. A member of the Board of Directors and Chairman of the Management Board of JSC 'Nurbank', Eldar Sarsenov, received written consent to acquire the status of a major (indirect) shareholder of JSC 'Nurbank'.
All necessary activities related to the change of a major (indirect) shareholder in JSC 'Nurbank' are currently underway.
One of the main priorities of 'Nurbank' is to form a universal financial and credit institution with a high level of customer service and a comprehensive approach to selling quality banking products and services, improving its products, and implementing new ones.
As of September 1, 2021, the bank has earned a profit of 1,207 million tenge. The liquidity ratio, showing the bank's ability to timely fulfill its obligations to customers, has a significant reserve and exceeds the regulatory limit by 7 times. In the first 8 months of 2021, the bank issued loans of 70.5 billion tenge (an increase of more than 1.3 times compared to the same period in 2020). Of these, the share of SMEs is 38%, with a year-on-year growth of 26%. The bank's assets amounted to 448.2 billion tenge, 4.8% higher than the same period in 2020.
In August this year, the international agency S&P Global Ratings affirmed the long-term and short-term credit ratings of 'Nurbank' at 'B-/B' and the long-term national scale rating at 'kzBB-'. The outlook is 'Stable'. According to experts from S&P Global Ratings, the decision is based on the gradual improvement of the bank's asset quality thanks to support from the state and owners. Analysts conducted a thorough analysis of the bank's adherence to all measures taken under the financial stability program following the AQR results, noting that the 'Stable' outlook on 'Nurbank's ratings reflects analysts' expectations for a gradual improvement in asset quality and maintenance of capital reserves sufficient for the planned business development.
It should be noted that Eldar Sarsenov began his career at JSC 'Nurbank' in 2012. Before taking the position of Chairman of the Management Board, Mr. Sarsenov served as a Managing Director at JSC 'Nurbank' for three years, overseeing card business, IT, marketing, HR development, advertising, and service quality. In November 2015, he was appointed Chairman of the bank's Management Board.
Note: JSC 'Nurbank' was established in 1992 and is one of the largest second-tier banks in the Republic of Kazakhstan. The bank has 17 branches and 77 service centers across all major regions of the country.