The Board of Directors of JSC «Nurbank» has appointed Gulnara Musataeva as chairman of the bank's executive board. She replaced Eldar Sarsenov, who recently became a major shareholder of Nurbank by acquiring a 100% stake in JP Finance Group, the majority shareholder of the financial institution.
Gulnara Musataeva graduated from Karaganda State University in 1990 with a degree in law. She then worked at the National Bank of the Republic of Kazakhstan, Halyk Bank. From 2008 to 2011, she was the head of department, deputy director of the Agency of the Republic of Kazakhstan for regulation and supervision of the financial market and financial organizations. From 2011 to 2020, she was a managing director and a board member of JSC «Nurbank».
From December 2, 2020, until now, she held the position of deputy chairman of the executive board of JSC «Nurbank».
Gulnara Musataeva oversaw legal matters, and under her management were: the bank's collateral service, the claims and litigation department, advertising and public relations management, personnel management, administrative and economic service, as well as the divisions involved in retail and card business.
“I want to express my gratitude to the shareholders and the board of directors for their trust. Nurbank has been on the market for almost 30 years. The bank is growing and holds its stable position in the financial market. We have significant plans for its further qualitative development, confident growth of the loan portfolio in the retail, corporate sector, and SME, expansion of our services and products using advanced technologies,” commented chairman Gulnara Musataeva on her appointment.
JSC «Nurbank» was established in 1992. The bank has 17 branches and 77 offices across all major regions of the country.
In the “Kazakhstan Banks Rating-2021”, Nurbank ranks 20th. Nurbank's assets at the end of 2020 amounted to 427.75 billion tenge, equity capital – 40.9 billion, which is 41% less than 68.95 billion in 2019. The bank ended the year with a loss of 48.3 billion tenge compared to a profit of 3.67 billion tenge the previous year.
S&P Global Ratings evaluates the long-term and short-term credit ratings of “Nurbank” at the level of “B-/B” and the bank’s long-term national scale rating at “kzBB-”. The outlook is “Stable”.
Source: Forbes