This was reported to Forbes Kazakhstan by the bank
Chairman of the Board of Nurbank, Gulnara Musatayeva, is leaving her position. This decision is due to personal reasons, as reported to Forbes Kazakhstan by the financial institution.
Aleksey Mazhuga will act as the interim chairman. He is a member of the board, deputy chairman of the financial institution. He has been working with Nurbank since 2008 and has held his current position since February 17, 2022, overseeing the corporate and SME sectors. Whether Mazhuga will eventually lead the bank, Nurbank has not commented as of yet.
Gulnara Musatayeva joined Nurbank in 2011. Over the years, she has been managing director, a member of the board, and deputy chairman. She took over the helm of the bank on September 29, 2021.
The bank noted that during her leadership, the financial institution's net profit more than doubled, reaching 13.2 billion tenge, and the loan portfolio grew by 35% by 2025, with the NPL ratio dropping from 8.33% to 5.15%. The deposit portfolio expanded to 395 billion tenge.
"Nurbank will continue with the implementation of its approved development strategy. All current projects and the bank's operational activities will continue as usual," the bank added.
Nurbank ranks 17th in assets among the 23 second-tier banks in Kazakhstan, with a figure of 571.4 billion tenge as of May 1.
A major shareholder in Nurbank is LLP "JP Finance Group," which owns 77.88% of the common stocks as of April 1, 2026. The sole founder of the company is Eldar Sarsenov, ranked 39th in the list of the 50 most influential businessmen (October 2025). The Sarsenov family is among the 75 wealthiest businessmen in Kazakhstan, ranking 10th as of May 2026 with a fortune of $972 million.
In June 2025, a new shareholder joined Nurbank - Marko Blanusa. He acquired 9.98%, or 1.4 million common shares, reducing the main shareholder's stake by the same amount. The bank explained that the deal took place in June 2025, with JP Finance Group selling 9.98% of the common stocks to a foreign investor. The transaction amount and reasons were not disclosed by the press service.
Source:
https://forbes.kz/articles/v-nurbanke-menyaetsya-predsedatel-pravleniya-9b2870