By the resolution of the Board of the Agency for the Regulation and Supervision of the Financial Market and Financial Organizations of Kazakhstan, Eldar Sarsenov has been granted approval to acquire the status of a major (indirect) participant of JSC "Nurbank". This was reported by the business information center Kapital.kz with reference to the Agency for the Regulation and Development of the Financial Market of Kazakhstan.
This status grants the right to acquire 100% of participation in LLP "JP Finance Group" and thus indirectly acquire 87.87% of the number of outstanding (excluding preferred and redeemed) shares and (or) voting shares of the bank.
From the moment Eldar Sarsenov actually acquires participation in LLP "JP Finance Group" and accordingly assumes the status of an indirect major bank participant, he must leave the position of Chairman of the Board of JSC "Nurbank".
In September 2021, the international agency S&P Global Ratings affirmed Nurbank's long-term and short-term credit ratings at "B-/B" and long-term national scale rating at "kzBB-". The outlook is "Stable". S&P Global Ratings experts noted that the decision is based on the gradual improvement in the bank's asset quality supported by the state and owner. This forecast reflects S&P Global Ratings' expectations that the bank will gradually enhance asset quality and maintain capital reserves sufficient for planned business development. The rating agency expects the bank will also maintain a stable funding profile and adequate liquidity reserves.
As of September 1, 2021, Nurbank complies with all standards set for second-tier banks. There are no violations of banking laws in the bank's actions. In March 2020, the bank became a participant in the state program to enhance the financial stability of the banking sector. Under the program, the bank's capital was increased by 20 billion tenge by the shareholder.
By the results of the first 8 months of 2021, Nurbank's operations are profitable. Assets amounted to 448.2 billion tenge, which is 4.8% more compared to the same period last year.
Source: Kapital