Eurasian Financial Company JSC, the sole shareholder of Eurasian Bank JSC, resolved to refuse to pay dividends for 2020. Instead, the shareholder will direct the Bank’s net profit in the amount of 4 billion 157 million tenge to the development of its platform and service.

“At the end of 2020, the Bank achieved impressive profit growth, however, as in previous years, we decided to abandon the payment of dividends and leave all the profits at the disposal of the Bank — for its further development and strengthening,” commented Shukhrat Ibragimov, a Member of the Board of Directors of the Bank. “After the pandemic shock, Kazakhstan banking market and demand for loans are beginning to recover. Therefore, we are confident that a sufficient capital reserve will allow the Bank to confidently increase lending and accelerate the upgrade of the technological platform with the transfer of most products and services to a mobile digital format.”

In 2021, Eurasian Bank adopted a new strategy for digital transformation of the technology platform, organizational structure and service model. The focus of this large-scale work will be on customer experience enhancement through analysis of current and identification of new customer needs, personalization of banking services and expansion of remote service channels.

Earlier it was reported that at the 2020 year end, unconsolidated profit almost 2 times exceeded the 2019 year result, increasing from 2,747 million tenge to 4,157 million tenge.