Jusan Sells Its Quant Mobile Bank in Russia

Jusan has sold 100% shares of its Quant Mobile Bank in Russia to Pioneer Capital Invest, according to KASE.

As the stock exchange noted among major stakeholders of JusanBank are First Heartland Securities (78.33% of shares) and Galymzhan Esenov (19.67%). Pioneer Capital Invest owns 95.24% shares of Jysan Technologies LTD which in turn owns 94.4% shares of First Heartland Securities. The final beneficiaries of Pioneer Capital Invest are Nazarbayev Foundation, Nazarbayev University and Nazarbayev Intellectual Schools.

Currently, Jusan Bank and ATFBank are in the middle of merging. On September 3, 2021, stakeholders of these banks approved the act of transfer which now serves as a basis for referral of ATFBank’s property, rights and liabilities to Jusan Bank.

The next step in the process of cessation of the bank’s business will be a termination of its banking license. As a result of this merging, Jusan Bank should be ranked in the top three commercial banks in Kazakhstan with a total number of assets of $7 billion or 10% of the country’s banking sector.