Changes in the Board of Directors of JSC 'Nurbank'

JSC 'Nurbank' announces that the Chairperson of the Board, Gulnara Musataeva, has decided to resign from her position due to personal reasons.

Gulnara Musataeva has been with Nurbank since 2011. Over the years, she held positions as Managing Director – Board Member and Deputy Chairperson 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. In 2021–2025, Nurbank demonstrated stable dynamics in key financial indicators and implemented a number of strategic initiatives.

Key outcomes included:

• 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 aid under the rehabilitation program commenced;
• In 2024, the credit rating by S&P Global Ratings was upgraded to 'B' with a stable outlook;
• A new development strategy focused on digital transformation, transactional business, and SMEs was implemented.

As part of the strategy, the bank strengthened its positions in SMBs and transactional business, forming one of the most comprehensive payment solutions lines on the market and taking a leading position in digital tenge projects and the development of digital services.

The shareholder of the financial institution highly appreciated Gulnara Abayevna's work as Chairperson of the Board and her contribution to the development of Nurbank: 'Gulnara Musataeva's period of leadership marked a stage of qualitative transformation for Nurbank. The bank managed not only to strengthen its financial stability but also to transition to a new development model based on digitalization and revenue diversification. Significant results were achieved in profit growth, asset quality, and the development of new business directions. We thank Gulnara Abayevna for her professional management, systematic approach, and contribution to the bank's long-term development.'

'In recent years, the bank team has implemented a number of important strategic tasks. Nurbank has approached a stage of further growth with a stable business model and a clear strategy. I am grateful to the team and shareholders for their trust and cooperation. The decision to step down is related to personal circumstances,' noted Gulnara Musataeva.

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

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