Appointment of the new Chairman of the Management Board of Nurbank JSC
PRESS - RELEASE
The Board of Directors of “Nurbank” JSC has appointed Mr. Idrissov Mukhtar Uzakbaevich as a new Chairman of the Management Board starting from February 13, 2012.
Mr. Idrissov expressed his gratitude to the Board of Directors for their trust, and mentioned that Nurbank's principles of work will remain unchanged and will be based on the Bank's mission and values — transparency, openness and professionalism.
At the present time Nurbank continues to follow a moderately conservative policy of development, with a focus on internal sources of funding, a moderate increase of assets, investments in the development of high-quality products and services to their customers.
Currently, the Bank does not have large external loans, and the share of external borrowings in the Bank's funding base is one of the lowest among the 10 largest Kazakh banks. In 2011 Nurbank repaid in full on the due date 5-year Eurobonds issued in 2006 for the total amount of USD 150 million with a coupon yield 9,375% per annum. The Eurobonds were repaid from the Bank's own funds. The Bank's shares and bonds are traded in the official list of Kazakhstan Stock Exchange (KASE) under category “A”.
According to the consolidated financial statements for the first half of 2011, net income amounted to KZT 794,7 million. As of July 1, 2011 total assets reached KZT 308,8 billion, shareholder's equity – KZT 71,2 billion.
Nurbank has 16 branches and 54 outlets in all regional centers of the Republic of Kazakhstan.
Prior to joining Nurbank Mr. Idrissov was a Deputy Chairman of the Management Board of “Moscommerzbank” OJSC (Moscow), as well as a Deputy Chairman of the Management Board of “Halyk Bank of Kazakhstan” OJSC.
In addition, Mr.Idrissov worked as a financial expert at “Firm ALMEX” LLP, was a Member of the Board of Directors of “Almaty International Airport” JSC, as well as the independent director of “Kazkommerzpolicy” JSC and “Кazkommerzlife” JSC.
Mr. Idrissov graduated from the St. Petersburg State University, is a candidate of economic sciences.