Jusan Bank: Best Bank Kazakhstan 2021
Jusan Bank is one of the largest and most dynamically developing banks in Kazakhstan. It is continuously enhancing digital technologies to improve the quality and accessibility of services, expanding the product-line, and assisting clients to achieve their financial goals. After the shareholder change and subsequent rebranding from Tsesna Bank in 2019, the Jusan management team has been successfully implementing a new development strategy and stabilisation programme. As a result, Jusan Bank has achieved impressive financial results in a short period. The turnaround over the past two years has been remarkable, with its corporate business and SME deposit portfolio doubling to the equivalent of $2.1bn. The retail client portfolio grew to around 2.5m accounts by October 2021. This growth was largely due to the launch of innovative new products such as a mobile application Jusan, which is actively used by more than 700,000 private customers. A brand-new internet banking system Jusan Business for SMEs that launched last year has already attracted more than 41,000 users.
Advanced functionality means that the Jusan is a truly super app. Today, financial services available on the mobile application range across banking products, investment, and insurance. There is also a line of non-financial services, such as a digital mobile operator Jusan Mobile, and a marketplace with an assortment of goods and services presently covering more than 456,000 items (which can be purchased in instalments over a two-year period). Furthermore, Jusan is the only bank to offer investment services via an application. It is also worth noting that Jusan Bank is not only systematically developing its ecosystem of digital services but is also generally expanding its spheres of influence.
In early September 2021, Jusan Bank completed the merger of Kazakhstani ATFBank, which was bought out last year. Total volume of assets reached the equivalent of some $6.5bn. In the same month, the Jusan group acquired 100 percent of the Russian Asia-Pacific Bank – and went on to acquire a non-controlling interest in Kcell, the leading mobile operator in Kazakhstan. All this creates a highly attractive proposition for clients and fosters increasing trust in the financial institution amongst corporates and the general population. The CFI.co judging panel recognises this outstanding transformation and presents Jusan Bank with the 2021 award for Best Bank (Kazakhstan).
