The bank also addressed the question of why Marko Blanushi acquired a 10% stake.
Nurbank does not rule out the possibility of changing its name in the near future. Gulnara Musataeva, the chairwoman of the financial institution, told Forbes Kazakhstan about this.
“We are indeed considering rebranding. Although we like the current name and it has a strong reputation, we are at a new stage of development today. Our strategy goes beyond the domestic market, so it is logical to think about how we will be perceived outside Kazakhstan as well,” she noted.
Moreover, Musataeva clarified that the discussion concerns the essence of positioning rather than external details. “It’s not just about changing signs or logos. It is a matter of strategic vision. We are moving towards a more modern, technological model and want the brand to reflect this direction. Currently, the transactional business strategy through 2025–2027 is in the final stage of approval, and rebranding, if it occurs, will be its logical continuation,” emphasized the head of Nurbank.
Specific deadlines and possible new name options are not being disclosed yet. “We are not rushing to make announcements. It should be a conscious decision that reflects not only visual but also substantive changes in the bank,” she added.
In mid-2025, a new participant joined Nurbank's shareholders — Marko Blanushi, who acquired 9.98% of common shares from the majority shareholder — LLP “JP Finance Group” (ultimately owned by businessman Eldar Sarsenov).
Musataeva confirms that the new shareholder joined in the second quarter of this year, but this did not lead to any management rearrangements. “He is not a major shareholder, and his arrival did not change the bank's management structure,” she clarified.
When asked why the new shareholder is interested in a bank that has not been paying dividends, the chairwoman replied: “I cannot speak for him, but I think this is a long-term investment. Today, there are not many banks on the market with a sustainable history, a clean reputation, and growth potential. Perhaps he saw the prospect in us. After all, Nurbank has been on the market for over 30 years and is currently undergoing a deep transformation. This is an investment in the future,” concluded Musataeva.
Amid discussions on the consolidation of Kazakhstan's banking sector, Musataeva assured that no deals for the sale or merger of Nurbank are planned.
“We do not expect any sales or mergers. These issues are not even being discussed. The bank is stable, financially sound, and consistently implementing its development strategy,” she asserts.
At the same time, Nurbank is considering partnership opportunities with fintech companies. “Now no bank can exist without fintech. We are working in this direction and may enter projects on the AIFC platform. Discussions are ongoing at the working group level, but this is a logical step within the framework of the new strategy,” shared the head of the financial institution.
The strategy presented by Nurbank this year focuses on digital transformation, the development of transactional business, and support for small and medium-sized enterprises.
“With the new strategy, we strengthen our focus on SMEs. While the corporate business share used to be about 60%, we are now shifting the emphasis to supporting entrepreneurs,” she noted.
By the end of the nine months of 2025, Nurbank's net profit amounted to about 11.3 billion tenge, at the level of the previous year. “The market is challenging, but we are showing stable dynamics. We have gone through a difficult path: cleaned up the balance sheet, strengthened positions, transitioned to new management standards. We are not paying dividends, as we participate in government programs and allocate resources for development. This is a conscious policy,” explained Musataeva.
According to her, Nurbank is looking for an opportunity for the early repayment of government debt. However, the head of the financial institution has not yet specified the exact timing.
Recall that as part of the program to increase the financial stability of the banking sector, Nurbank was among six banks that received state support by redeeming their subordinated bonds for 46.8 billion tenge.
Source: https://forbes.kz/articles/nurbank-rassmatrivaet-vozmozhnost-rebrendinga-06b808