OREANDA-NEWS. May 17, 2010. In 2009 Nurbank continued to abide by its mid-term strategy pursuing leadership in the Kazakhstan banking system. The bank is following a moderate conservative policy, with preference to invest into quality products and services. Bank assets as on January 1, 2010 reached KZT295 bn, own capital - KZT45 bn, net profit reached KZT762 m. with an increase of KZT633 m on year-to-year basis, reported the press-centre of KASE.

The bank management sees a big achievement as the bank continued to issue loans to population and businesses, despite of the general credit volume  declining trend. In the end of summer 2009 the bank launched its own mortgage program "Nur Zhausyn", the bank issued loans to businesses through a line of the Damu fund. Loan portfolio as on January 1, 2010 is KZT261 bn with the Damu's share increasing from KZT5 bn to KZT13.5 bn.

The bank has a balanced deposit portfolio: in 2009 the number of termless deposits increased by 50 %, and currently the ratio of term and termless deposits is 56% and 44% accordingly.

The bank managed to redeem ahead of schedule a USD100 m syndicated loan in April 2009, thus, having paid almost all foreign debt. At the time being, the  bank has an attractive funding structure with 61% in deposits, 15% of capital, 8% for Eurobonds, tenge bonds and interbank loans each. The bank redeemed loans from banks and companies engaged in banking transactions for a total of KZT7.5 bn; loans from international financial organizations for a total of KZT110.2 m, and documentary receipts for a total of KZT8.7 bn.

In 2009 the bank was developing relations with the Islamic Development Bank and its subsidiaries. The bank raised a total of USD15 m on the basis of Islamic financing, including USD5 m from International Islamic Trading Corporation and USD10 m from Islamic Development Bank.

The bank is investing in payment cards, which resulted in ATMs increase by 35% and reaching 290 ATMs; the bank issued 20% more payment cards, thus, reaching a total of 275,000 issued cards. 200 more companies are paying salaries and wages through the bank cards.

The bank launched a number of services: Internet-banking for individuals Open24, SMS-notification service, bank clients now can pay for K-cell, Active, Beeline services through the bank. Besides, in July 2009 Nurbank joined a state program for refinancing of mortgage loans after signing an agreement with National welfare fund Samruk-Kazyna.

The bank established financial group Nurgroup, which is a universal player on the Kazakhstan financial market providing banking, insurance, brokerage, leasing, pension funds and asset management services. The establishment of the Nurgroup aimed at creating comfort conditions for its clients. Nurgroup's net profit as on January 1, 2010 reached KZT275 m increasing KZT1.7 bn on year-to-year basis.

Nurbank's chairman Marat Zairiov commented on Y2009 highlights: "Our bank is pursuing a quality development course. We will aggressively invest into high-tech services able to provide our clients with the best of comfort and reliability. We are the first Kazakhstan bank to obtain a PCI DSS v.1.2 international security payment card certificate. And this is a good credit for leadership in the payment card business, evidencing we are oriented on the result - a top position on the Kazakhstan banking services market".