Jusan Bank announces leadership changes

10th August 2023 (KASE: TSBN): On 10th August 2023, First Heartland Jusan Bank JSC (Jusan Bank) held an Extraordinary Shareholders Meeting (EGM), in which a new Board of Directors was elected, and executive management appointed.

Galimzhan Yessenov was elected as Chairman of the Board of Directors. He will be joined on the board by Independent Directors Zharkynbek Azbekov and Sanzhar Zhamalov, who remains in place.

The Management Board consists of Irina Merzlyakova (acting CEO), Askar Khamidullin and Galiya Makhanova. Other Management Board members will be appointed in due course.

In addition, the Bank and the shareholders have approved a settlement, between Galimzhan Yessenov and British entity Jusan Technologies Ltd (JTL). Under the settlement, JTL’s assets were returned under the jurisdiction of the Republic of Kazakhstan. Following the settlement, judicial proceedings in Kazakhstan, the US and the UK involving the Republic of Kazakhstan, Jusan Technologies Ltd and Yessenov are being closed with no admission of guilt, liability or wrongdoing.  

About Jusan Bank:

- Jusan Bank is one of the leading banks in Kazakhstan, and the 6th largest in the country in terms of assets under management. The Bank counts over KZT 1.2tn (US$2.6bn) in liquid assets and is Kazakhstan’s one of the leading banks in terms of liquidity ratios. In 2022, the Bank recorded an audited profit of KZ 89bn (~$195m).

-  Jusan Bank is one of the available STBs of the Republic of Kazakhstan in terms of the financial health of the bank, in terms of liquidity ratios and equity capital adequacy. In December 2022, Moody’s upgraded the Bank’s longterm rating for deposits in national and foreign currencies to B1, outlook positive.

- Jusan Bank has over 118 branches in 43 cities of Kazakhstan, over 3 million clients and 6 thousand employees.