Based on the audited consolidated financial statements prepared under IFRS

THE PRESS RELEASE
Almaty
May 12, 2010

In 2009, Nurbank has been performing its medium-term strategy, pursuing the aim of becoming one of the leaders of Kazakhstan's banking system. The Bank has been adhering to the conservative policy, giving preference to the investments in development of high quality products and services for own Clientele. As of 1 January, 2010, the assets of JSC “Nurbank” contained KZT 295 bln, shareholders equity - KZT 45 bln, net profit amounted to KZT 762 mln.

In comparison with the results of the same period of previous year, net profit has increased by KZT 633 mln.

The management of JSC “Nurbank” considers continuation of credits offering to the population and business-structures of the Republic, in spite of common tendency towards decreasing scales of crediting on the banking services market, as one of the most significant achievements of Bank’s activity. Thus, in the late summer 2009, the Bank has started its own mortgage program “Nur Zhausyn”; the representatives of SME-sector had been being actively credited in the frames of Entrepreneurship Development Fund "Damu" line. As of 1 January, 2010, credit portfolio of the Bank contained KZT 261 bln. In this regards, it is worth underlining that "Damu" share has been grown from KZT 5 to 13,5 bln within a year.

It is important to mention the fact of depositary portfolio equation: in 2009, the quantity of termless customers deposits has increased by 50% and, at present, proportion of term and termless deposits equaled to 56% and 44% accordingly.

Due to the pre-term repayment of syndicated loan for the amount of USD 100 mln in April, 2009,  JSC “Nurbank” has almost fully performed its foreign obligations and, for the present time, has one of the most attractive funding structures: deposits - 61%; equity - 15% 8% of eurobonds, KZT-bonds and interbank loans accordingly. For the period, trade finance obligations before the banks and organizations, carrying out certain types of banking operations, have been duly repaid for the amount of KZT 7,5 bln; loans from financial institutions – for the amount of KZT 110,2 mln; documentary settlements – for KZT 8,7 bln.  

In 2009, JSC “Nurbank” has been actively developing business relations with Islamic Development Bank and its daughter organizations. The total amount of the attracted funds on Islamic financing equaled USD 15 mln, containing USD 5 mln from Islamic Trade Financial Corporation and USD 10 mln from Islamic Development Bank.

JSC ”Nurbank” is still actively investing in payment cards business development. Thus, the number of ATMs has increased over the year by 35% and equaled 290 ATM; the number of issued payment cards has been increased by 20% and achieved 275 ths. The number of companies serviced on salary projects has increased by 200 points.

During the previous year, JSC ”Nurbank” has started providing of new services: Internet banking for individuals Open24, services on SMS-notification, Bank Clients have gained an opportunity to fulfill the payments for mobile operator services K-cell, Active, Beeline through ATM. Additionally, in July, 2009,  JSC “Nurbank” has joined the State Program on mortgage refinancing by concluding agreement with NWF “Samruk-Kazyna”.

Last year JSC ”Nurbank” announced creation of Nurgroup, which would be a universal player in Kazakhstani financial market, presenting banking, insurance, brokerage and dealing, leasing services, pension fund and assets management services. Main purpose of Nurgroup creation was providing of applicable convenient conditions for its Clientele – individuals, representatives of the corporate and SME sectors. Net profit of Nurgroup as of January 1, 2010 equaled KZT 275 mln. In comparison with the results of the same period of previous year, net profit amount has increased by KZT 1,7 bln.

Commenting on results of the financial year, Chairman of JSC “Nurbank” Mr.Marat Zairov underlined: “Our Bank is striving for quality development. We will actively invest in high technology services, creating maximum level of convenience and reliability for our customers.”

It is not accidental that JSC “Nurbank” was the first bank among Kazakhstani banks, which has passed PCI DSS v.1.2. certification of compliance with international standards of payment cards security. It is a serious challenge for leadership in payment cards business that demonstrates our focusing on final results – achieving of leading position in banking services market of the Republic”.