Jusan Indicators Increased 9-fold in 2022 Thanks to Loan Portfolio Diversification and Online Service Expansion
• Net profit of Jusan raised 9-fold and comprised KZT 88.6B following 2022
• Assets exceeded KZT 2.8T at the year end
• Number of clients gained 52% and reached 3M
• 2022 return on equity (ROE) made up 18.5%
• The Management Board and the Board of Directors of the Bank proposed neither to pay nor to distribute the 2022 dividends, which was supported by decision of the General Meeting of Shareholders dated May 02, 2023.
Following 2022, Jusan demonstrated a substantial growth of key operational performance indicators: the net profit increased 9-fold vs 2021 and amounted to KZT 88.6B by improving and diversifying the loan portfolio quality through the client and SME lending expansion. The consolidated net profit made up KZT 111.6B and exceeded the 2021 indicators by 2.3 times.
The bank net interest income increased by almost 6 times within the year and reached KZT 134.9B. The net commission income almost doubled and comprised KZT 14B.
The aggregate loan portfolio with the provisions factored in gained 10% at the year end and amounted to KZT 917B. The bank keeps a conservative lending approach with due regard to the macroeconomic environment and the need to secure depositors and borrowers.
The profit gain boosted the bank return on assets and equity: ROA from 0.5% to 3.3%, and ROE from 2.6% to 18.5%, enabling the bank to ensure adequate provisions and plough back into further ecosystem evolution.
That said, the Management Board and the Board of Directors of the Bank once again proposed the General Meeting of Shareholders not to pay the 2022 dividends, which was supported by the General Meeting of Shareholders on May 02, 2023.
‘Despite all the challenges we faced in 2022, we improved markedly our performance owing to the technological transformation of the bank, active client involvement and well-advised corporate governance. We managed to sustain high growth rates: the number of our clients gained 52% and reached 3M+, and the growth was noted both among legal entities and retail clients. The bank continued its active investments into digital technologies and online service expansion as part of the Jusan Business and Jusan ecosystem. Our mobile apps not only meet banking needs of our clients, but also address routine non-financial issues. The number of monthly active users (MAU) of our two mobile apps keeps growing. Lifestyle services are in strong demand — last year the purchase volume at our online shop increased by 255%, while the number of retail investors grew 11-fold. Our Jusan Travel service was ranked second among the banks by the number of air and railway tickets sold. All these indicators are accomplishment of tight-knit and professional team of Jusan Bank. The bank team went to great lengths to ensure high-quality business growth and our positioning as an advancing technology company’ said Nurdaulet Aidossov, CEO at Jusan Bank, commenting the financial performance.
2022 was marked by increase in the number of entrepreneur clients by 42%, reaching 190K. At the same time, businessmen make a good use of Jusan Business mobile banking: last year the monthly active users gained 136% and made up 114K. Simplifying interaction with the bank is still a critical objective in dealing with the Kazakhstani business, that is why all bank services and products enable entrepreneurs to trim their expenses and boost their business growth.
The SME loan portfolio got bigger by 15% and comprised KZT 531B following 2022. Responsible entrepreneurs created 175K new jobs thanks to funding by the bank. The bank is an active participant in the state business support programmes. In 2022, Jusan Bank became 3rd among the RoK STBs by the number of loans granted as part of the National Entrepreneurship Development Project.
25K SME clients got to Jusan Mart marketplace so far and are now enjoying a good online outlet to sell their products and services. The last year the marketplace purchase volume soared by 255%, making it No. 2 on the Kazakhstani market. The gross merchandising value (GMV) of goods sold through Jusan Mart exceeded KZT 13.5B. And this pace will accelerate further.
Jusan Retail also surged dramatically in the reporting period. The ecosystem accounted for about 2.5M users by the end of 2022. 1.2M+ unique users (MAU) use the Jusan App every month, which is 52% more vs 2021.
Payments and transfers via the Jusan ecosystems in 2022 boosted by 46% as compared with 2021. The active card base increased by 18% and went beyond 700K; the bank digital cards advance rapidly too.
The retail loan portfolio grew by 26% to KZT 343B vs 2021 thanks to considerable increase in the number of merchants.
KZT 520B+ savings of clients are kept safe on deposits with the bank and secured with high-quality assets.
Enhancing the Jusan ecosystem with non-financial services allows for reaching and attracting clients. They can use the Jusan App to get air and railway tickets, go to a cinema, theatre and musical performances. They can access an investment platform and learn stock trading. This service appeared to be in high demand: the client base increased 11-fold in the last year and totalled 336K+ private investors as of January 1, 2023.
Experts note an impressive Jusan ecosystem transformation, which was marked by a number of awards: Best Bank — Kazakhstan 2022 and For Outstanding Contribution to Diversification of the Kazakhstan Economy 2022; the bank mobile app was recognised among the best in Kazakhstan; furthermore, KPMG Caspian ranked Jusan second to none in terms of cybersecurity among all RoK banks following the independent digital security study.
Jusan Bank is one of the most sound financial institutions in Kazakhstan that meets the regulatory requirements by far exceeding the prudential rations. The bank equity reached KZT 751.5B by the year end. The bank is first among the largest domestic banks by the capital-asset ratio. The k1 capital adequacy comprises 29.9%, while k2 — 47.4% with the prudential ratios of 8.5% and 10%, respectively.
The bank proceeded implementing the ESG strategy in 2022 aimed at introducing the best sustainable banking practices as driven by the UN Sustainable Development Goals. Jusan Bank was one of the first domestic STBs to be ESG rated by S&P Global under the Corporate Sustainability Assessment.
Fair, transparent and socially responsible business are the top priorities in the bank operations.
This year the bank commenced delivering a new three-year development strategy powered by a business model built with a focus on up-to-date client-centric philosophy. It consists in making Jusan genuinely innovative and high-technology bank of top-tier service and scale that meets high client demands.
Jusan Bank expresses gratitude to its partners and clients for cooperation and trust and assures that it will stick to its mission of enhancing the quality of life for its clients by participating in humanitarian, educational and socially-significant initiatives of Kazakhstanis alongside opening up financial opportunities for achieving their potential.
Jusan Bank Corporate Communications Service
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