On March 16, 2021 the joint general shareholders meeting of Jusan Bank and ATFBank decided to join ATFBank to Jusan Bank.
Following the joining Jusan Bank will become one of the three largest banks in Kazakhstan by assets and capital. Thus, the total volume of assets of Jusan Bank after completion of the merger will be about 3 trillion tenge.
“We are creating a reliable and modern bank with a strong financial position and convenient digital services”, Mr. Shigeo Katsu, Chairman of the Board of Directors of Jusan Bank commented. “Due to the integration of the customer base of the two institutions, and introduction of advanced digital technologies, we are confident in the further active growth of our market share, which after the merger will exceed 10%”.
The combined bank will have one of the largest ATM networks in Kazakhstan with more than 1,100 ATMs and 180 outlets throughout the country. The merger of ATFBank into Jusan Bank is scheduled to be completed by the end of this year.
“We plan to strengthen our position in the retail and SME segments by providing unique online services and loan products, including sales of goods on installment plans, as well as exciting products for current and saving deposits, as well as for investments”, Mr. Aibek Kayip, Chairman of the Management Board of Jusan Bank noted. “We are glad to welcome all clients of ATFBank, and we are positive that they will appreciate all the advantages of the Jusan digital ecosystem".
Relevant documents for obtaining the regulatory permit to merge ATFBank with Jusan Bank will be submitted to the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market within the timeframe established by the law.
“We will make every effort to make the upcoming integration processes as comfortable as possible for each of our clients. In the course of merging the two banks, all branches and services of ATFBank will continue to work normally, during and, of course after their transfer to Jusan Bank is completed,” Ms. Galiya Makhanova, Chairperson of the Management Board of ATFBank commented.