Jusan Bank

What Jusan Bank does

Jusan Bank, now operating as Alatau City Bank following a 2025 rebrand, is a Kazakhstan-based commercial bank founded in 1992 and headquartered in Almaty. The bank is publicly listed on the Kazakhstan Stock Exchange (KASE: TSBNP) and operates with 1,001-5,000 employees under a banking license (No. 1.1.35, dated 18.07.2025) and a securities market license (No. 3.3.259/48, dated 03.07.2025) issued by the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan.

The bank's core technology is a digital banking platform comprising a retail mobile application, a business mobile application, internet banking, a business portal, and a Business API that supports programmatic integration into merchant systems. Underlying proprietary features include the Alatau City Bank QR payment system (integration-interoperability with Kaspi QR), POS terminals supporting QR, Visa, Mastercard, and Crypto Pay with 4G/Wi-Fi connectivity, online lending rails, custody and commercial paper issuance, and same-day POS terminal deployment for qualifying merchants. Two sub-brands extend the platform: JusanInvest (investment products, IPO access, IPIF funds, pension assets) and ACGarant (auto, property, accident, and travel insurance).

The business model is a diversified bank spread across retail, SMB, and private banking segments in Kazakhstan. Revenue is generated primarily through net interest income from lending (personal, mortgage, refinancing, and business credit products), deposit spreads (Baytaq, Comfort, Savings, Overnight deposits), transaction-based merchant acquiring (commissions starting at 0.8% for QR, 1.2%-1.5% for cards), card issuance and transaction fees, custody and guarantees (transaction-fee based), safe-deposit box rentals, and affiliate referral economics on JusanInvest and ACGarant products. Distribution is hybrid: branch network for in-person sales, mobile and internet banking for self-serve retail, the business portal and Business API for SMB and enterprise onboarding, and partner channels (ACGarant, JusanInvest) for cross-sell.

Name

Jusan Bank

Legal name

Alatau City Bank

Website

https://jusan.kz

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Jusan Bank (rebranded as Alatau City Bank) is a Kazakhstan-based commercial bank serving retail, SMB, and private clients with deposit products, lending, payment cards, merchant acquiring, and integrated investment and insurance sub-brands.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Credit Intermediation and Related Activities (522)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Retail banking services
• Merchant acquiring services
• Business lending products
• Deposit products
• Digital banking platform

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income from Lending: The bank provides various credit products including personal loans, business loans, mortgages, and refinancing options. Revenue is generated through interest charged on outstanding loan balances.
2. Merchant Acquiring (Trade Acquiring): Transaction fees collected from merchants for processing card and QR payments through POS terminals. Commission rates start from 0.8% for QR payments, with higher rates for card transactions.
3. Deposit Taking: Accepts customer deposits including savings accounts, term deposits, and specialized deposit products like Baytaq deposit. Banks earn spread income by lending deposits at higher rates.
4. Card Services: Debit card issuance and maintenance, including Pay card and other card products. Revenue from card transaction fees and potentially annual maintenance charges.
5. Insurance Distribution: Partnership with insurance providers (ACGarant) to offer insurance products including auto, property, travel, and accident insurance through the bank.
6. Investment Products: Partnership with JusanInvest for investment product distribution including IPO access, online trading, investment funds (IPIF), investment academy, and pension assets.
7. Custody Services: Custodial services for securities and assets held on behalf of business customers.
8. Commercial Papers: Issuance and management of commercial paper instruments for business customers.
9. Banking Guarantees: Issuance of guarantees including tender guarantees and property-backed guarantees for business customers.
10. Safe Deposit Boxes: Secure storage services for customer valuables and documents in safe deposit boxes.

Pricing tiers

Distribution channels8 records

Marketing channels6 records

Core offering

Alatau City Bank (formerly Jusan Bank) is a full-service Kazakhstani commercial bank providing retail, business and private banking products. Its core offerings include deposit accounts (such as the Baytaq deposit), personal and business credit products (Online Express Credit, Business Light, Business Standard, Business Money, refinancing), debit cards (Pay card), merchant acquiring (POS terminals, online/e-commerce acquiring, Crypto Pay), custody services, bank guarantees, commercial papers, salary project management, safe deposit boxes, currency exchange, and a customer bonus program. The bank also distributes insurance products via ACGarant and investment products via JusanInvest.

Product overview

Alatau City Bank (formerly Jusan Bank) operates as a full-service Kazakhstani bank offering a comprehensive digital banking platform with integrated financial services. The product portfolio consists of a unified digital banking platform supplemented by specialized sub-brands: Jusan Invest for investment services and ACGarant for insurance products. Core banking products include retail and business credit services (express online loans, business credits, refinancing), deposit products (Baytaq, Comfort, Savings, Overnight for retail and business), payment cards (Pay card, business cards), and merchant acquiring services (POS terminals, e-commerce, Crypto Pay). The bank also provides custody services, guarantees, commercial papers, salary project management, and currency exchange. The digital-first approach is evident through Business API offerings for programmatic integration and comprehensive mobile/web banking channels.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Express Credit Online credit product that allows retail customers to obtain loans electronically without visiting a branch.
• Baytaq Deposit Retail savings deposit offering with competitive interest rates for individuals.
• Pay Card Debit card product offering used for everyday banking transactions and payments.
• Credit Refinancing Loan refinancing service that allows customers to restructure existing debt under improved terms.
• Safe Deposit Box Secure storage service at bank vaults for valuables and important documents.
• Commercial Papers Short-term debt securities product for businesses and individuals to issue and trade.
• Salary Project Corporate payroll service managing employee salary disbursements for businesses.
• Currency Exchange Foreign currency exchange services providing live exchange rates for customers.
• POS Terminal Acquiring Merchant acquiring service providing POS terminals for card and QR payments with commission from 0.8% and free installation for qualifying merchants.
• Online Acquiring Online payment acceptance service for e-commerce businesses enabling internet-based transactions.
• Crypto Pay Cryptocurrency payment acceptance service enabling merchants to receive digital currency payments.
• Business Credits Comprehensive business lending suite including online credit for individual entrepreneurs and LLCs, Business Light, Business Standard, Business Money, refinancing, letters of credit, and overdraft facilities.
• Business Deposits Business deposit products including Comfort, Savings, Overnight, Nedra, and Turyk UY deposits for cash management.
• Business API API enabling businesses to integrate and automate Alatau City Bank financial services, including payments and account management, into their own systems.
• Bank Guarantees Guarantee services for business clients covering tender guarantees and property-backed guarantees.
• Custody Services Custodial services for securities and assets on behalf of institutional and corporate clients.
• Self-Service Terminal (SED) Self-service payment terminal enabling automated banking transactions for businesses and customers.
• Bonus Program Customer loyalty program offering rewards and benefits for using Alatau City Bank products and cards.
• Money Transfers Domestic and cross-border money transfer services offered through the bank's mobile, internet and branch channels.
• Kaspi QR Payments QR-based payment product supporting Kaspi QR codes so customers can pay merchants through the Alatau City Bank mobile application.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• ACGarant (Insurance)coreChannel Partner/ Reseller/ DistributorPartnership for insurance product distribution. Alatau City Bank offers ACGarant insurance products through its banking channels including auto insurance (MTPL, comprehensive), accident insurance, property insurance, carrier liability insurance, and travel insurance for customers traveling abroad.
• JusanInvestcoreChannel Partner/ Reseller/ DistributorPartnership for investment product distribution. Alatau City Bank offers JusanInvest products including IPO access to national companies, online trading platform, investment funds (IPIF), investment academy, pension assets management, and social investor network.

Recent moves7 records

Expansion highlights6 records

Direct peers

• ForteBank: ForteBank is a top-tier Kazakh universal bank with retail, SME, and corporate banking plus digital channels, competing head-to-head with Jusan Bank for retail deposits, consumer loans, and merchant acquiring share.
• Eurasian Bank: Eurasian Bank is a Kazakhstan-focused universal bank offering retail deposits, consumer credit, cards, and SME services, directly competing with Jusan Bank in the same domestic customer segments.
• Halyk Bank: Halyk Bank is Kazakhstan's largest universal bank offering retail deposits, consumer and SME lending, cards, merchant acquiring, and brokerage services — directly overlapping Jusan Bank's full-service product mix across all three customer segments.
• Bank CenterCredit: Bank CenterCredit is a Kazakhstan-based universal bank serving retail, SME, and corporate clients with deposits, lending, cards, and trade finance — a close competitor to Jusan Bank in mass-market and SME banking.
• Bereke Bank: Bereke Bank is a Kazakhstan-based universal bank offering retail and corporate deposits, lending, cards, and trade finance, directly comparable to Jusan Bank's full-service domestic banking footprint.
• Home Credit Bank Kazakhstan: Home Credit Bank Kazakhstan specializes in consumer point-of-sale lending, credit cards, and deposits, competing with Jusan Bank's retail credit and Pay Card offerings.
• Kaspi.kz: Kaspi.kz operates Kazakhstan's dominant payments super-app combined with a marketplace and banking services, directly competing with Jusan Bank on QR payments, merchant acquiring, cards, consumer credit, and deposits. Its scale and ecosystem integration make it the most direct peer.

Regional players

• Tinkoff / T-Bank: Tinkoff/T-Bank is a leading digital-first Russian neobank serving retail and SME customers with mobile-led deposits, cards, and merchant acquiring; relevant as a regional peer for digital banking and CRM-led acquisition model benchmarks, though not operating in Kazakhstan.

Broad incumbents

• Sberbank Kazakhstan: Sberbank Kazakhstan is the local subsidiary of a major international banking group offering retail, SME, and corporate banking; it competes broadly with Jusan Bank in Kazakhstan with deeper corporate finance capability.

Emerging players

• Freedom Holding Corp / Freedom Bank: Freedom Bank Kazakhstan provides retail and SME banking alongside Freedom Finance's brokerage, comparable to Jusan's pairing of core banking with JusanInvest distribution — overlapping in deposit and brokerage-adjacent products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/bankjusan

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jusan Bank