Alatau City Bank (formerly Susan Bank)

History

2025

Name change to Alatau City Bank

First Heartland Susan Bank JSC changed its name to Alatau City Bank JSC. The relevant amendments to the bank's charter were made by the decision of the General Meeting of Shareholders in May 2025. Legally, the name of the bank will change from the day of state re-registration. The change of name symbolizes the renewal of the bank, its commitment to further development and modernization. The bank is one of the leading banks in Kazakhstan, is in the top 6 in the country in terms of assets and ranks 3rd in terms of equity.^[1]

Kaspi.kz beneficiary Vyacheslav Kim announced the purchase of Susan Bank

In February 2025, the co-owner of the Kaspi.kz, Vyacheslav Kim, filed an application with the Agency for Regulation and Development of the Financial Market (ARRFR) for the acquisition of 97.5% of the shares of Susan Bank, which are owned by businessman Galimzhan Esenov. Yesenov directly owns 19.67% of the shares, and 77.86% through First Heartland Securities. According to him, it is expected that the regulator will make a decision after a detailed study of the application. The ARRFR reported that the transaction between citizens refers to commercial secrets.^[2]

2023: Susan Bank buys 9% stake in Kazakhtelecom

On September 13, 2023, First Heartland Jusan Bank JSC (brand of Jusan Bank) announced acquisition of a 9% stake in Kazakhtelecom, one of the largest operators of the national data transmission network in Kazakhstan. The securities were bought at open trading on Kazakhstan Stock Exchange (KASE). Read more here.

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