Nurbank
Nurbank is a Kazakhstan-licensed universal commercial bank serving retail, SME, and corporate customers through branches across 18+ cities, the Nur24.kz mobile app, and the Nur Business corporate platform, offering loans, deposits, Visa debit cards, and eight international money-transfer rails.
- Company typePrivate
- Founded1992
- HeadquartersAlmaty, Kazakhstan
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Nurbank does
Nurbank (АҚ «Нұрбанк», JSC Nurbank) is a Kazakhstan-headquartered universal commercial bank operating under license No. 1.2.15/193 issued February 3, 2020 by the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market. The bank serves three primary segments — individual retail customers, small and medium enterprises, and larger corporate clients — through a hybrid of physical branches across 18+ Kazakh cities (centered on Almaty and Astana), the Nur24.kz mobile banking application for retail self-service, and the Nur Business internet-banking platform for corporate clients. Founded in 2005 under Kazakh law and claiming roughly 30 years of market presence, it employs between 1,001 and 5,000 people and is headquartered in Almaty.
The product portfolio spans retail lending (collateral loans up to 80% of property value / up to 10 years; unsecured loans of 500K–7M KZT / 12–60 months; internal and external refinancing), a multi-tier deposit franchise (Nur Altyn Optimal, Savings, On-Demand, AQYL education deposits) in KZT/USD/EUR, a tiered Visa debit-card lineup (Gold, Platinum, Infinite, Custom Design) with tokenization via Apple Pay and Google Pay and a 0.7%–5% cashback program, and a broad cross-border remittance stack covering MoneyGram (200+ countries), UPT (180 countries), Western Union, Zolotaya Korona, Ria, Kwikpay, SWIFT, MultiTransfer, and a proprietary NUR Express service. Corporate offerings include working-capital and investment-project loans up to 60 months, trade finance, and a dedicated SME suite (Biznes Onay, MSB Business, MSB Real Estate, MSB Auto, Green Finance, Biznes Khanym women-entrepreneur program).
Revenue is generated primarily through net interest income on the loan book (retail APRs of 23.5%–34%; corporate facilities up to 1B KZT), supplemented by transaction-based fees — international money-transfer commissions (MoneyGram from 0.5%, UPT from 0.1%), card fees (0.9%–1.5% on withdrawals/interbank transfers), loan arrangement fees (2%–4%), and miscellaneous fee-based banking services. Distribution relies on direct-to-consumer channels: branch-based sales, self-service digital via Nur24.kz, and third-party rails including Kazpost for no-commission loan repayment.
Nurbank firmographics
Firmographics- Name
- Nurbank
- Legal name
- АО «Нұрбанк» (JSC Nurbank)
- Website
- https://www.nurbank.kz/
- Company type
- Private
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Nurbank is a Kazakhstan-licensed universal commercial bank serving retail, SME, and corporate customers through branches across 18+ cities, the Nur24.kz mobile app, and the Nur Business corporate platform, offering loans, deposits, Visa debit cards, and eight international money-transfer rails.
- Ownership category
- akta.pro rank
Nurbank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (522110), Commercial Banking (52211)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- SME Sector/Specialty Banking (Vertical-focused: Healthcare, Agri, Tech, etc.) (FSABABAI)
Keywords
Where Nurbank is headquartered
LocationHeadquarters
- HQ city
- Almaty
- HQ country
- Kazakhstan
- HQ region
- Asia
Offices5 records
Markets served
Nurbank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain, Others
Revenue model
- Interest Income from Loans: The bank generates revenue primarily through interest earned on secured and unsecured loans to individuals and businesses, including collateral loans (up to 80% of deposit value, up to 10 years), unsecured loans (500,000 to 7,000,000 KZT, 12-60 months), and corporate lending facilities
- Deposit Interest: Interest paid to depositors on various deposit products including Nur Altin Optimal, demand deposits, and savings accounts in KZT, USD, and EUR
- Money Transfer Fees: Commission income from international money transfers via MoneyGram (0.5% fee), UPT, Western Union, Zolotaya Korona, Ria, and SWIFT systems
- Card Transaction Fees: Revenue from card operations including cash withdrawals (0.9% fee at other banks' ATMs from Dec 2024), interbank transfers (0.9%, min 250 KZT, max 750 KZT), and foreign ATM withdrawals (1.5%, min 1000 KZT)
- Corporate Banking Services: Business loans including revolving credit, investment financing, trade finance, overdraft facilities, and specialized SME programs with fees and interest income
- Fee-based Banking Services: Various fees including account maintenance, cash operations, currency exchange, safe deposit boxes, electronic money, merchant acquiring, and corporate services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Unsecured External Refinancing: 500,000 to 7,000,000 KZT, 12-60 months |
| Subscription | Monthly | Collateral Loan: Up to 80% of deposit value, max 70,000,000 KZT, up to 10 years |
| Transaction based/ take rate | Pay-as-you-go | MoneyGram International Transfers: Fee starting at 0.5% |
| Transaction based/ take rate | Pay-as-you-go | UPT International Transfers: 0.1% minimum tariff |
| Subscription | Monthly | Cashback Program: 0.7% to 5% cashback on card transactions |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels8 records
Nurbank product offering
Product offeringCore offering
Nurbank is a Kazakhstan-based second-tier commercial bank providing retail banking services (personal loans, deposits, payment cards, international money transfers) and corporate banking services (working capital loans, investment financing, trade finance, and SME lending programs) to individuals, small and medium enterprises, and large corporations. The bank distributes its products through a nationwide branch network, the Nur24.kz mobile banking app, the Nur Business corporate internet banking platform, and partner transfer networks including MoneyGram, UPT, Western Union, SWIFT, and others.
Product overview
Nurbank is a Kazakhstan-based commercial bank offering a comprehensive digital banking platform through its Nur24.kz mobile application and Nur Business corporate banking system. The product portfolio consists of retail banking services including secured and unsecured personal loans (Collateral Loan, Unsecured Loan), internal and external refinancing options, multiple deposit products (Nur Altyn Optimal, Nur Altyn Savings, On-Demand, AQYL Education), debit cards (VISA Gold, Platinum, Infinite, Custom Design), money transfer services (MoneyGram, UPT, Western Union, SWIFT, NUR Express, Card-to-Card, Phone Number Transfer), and a Cashback loyalty program. Corporate banking includes working capital loans, investment project financing, trade finance, and specialized SME programs (Business Onay, MSB Business, Green Finance, MSB Real Estate, MSB Auto, Business Khanym). The bank operates across Kazakhstan with branches, ATMs, and a full-featured mobile banking platform.
Differentiator
Problem solved
Functional benefit
Brands
- Nur24.kz: Mobile banking application for Nurbank customers, providing 24/7 access to accounts, transfers, and banking services.
Quantifiable outcome
- Transfer to 200+ countries with 470,000+ offices via MoneyGram
- +2 more outcomes
Companies that use Nurbank
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Nurbank technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration14 records
Feature3 records
Nurbank partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- MoneyGramcoreMoneyGram international money transfer partnership enabling Nurbank customers to send and receive transfers to over 200 countries with 470,000+ service points. Transfer fee starts at 0.5% with instant delivery options. Available via Nur24.kz mobile app and bank branches.
- UPT (Universal Payment Transfer)coreUPT international money transfer system partnership covering 180 countries worldwide with 400,000 offices. Transfers available in USD and EUR with 24/7 availability. Maximum transfer: USD 10,000 or EUR 8,000. Minimum tariff: 0.1% of transfer amount.
- Western UnioncoreWestern Union international money transfer service available at Nurbank branches for global money transfers
- Zolotaya KoronacoreZolotaya Korona money transfer system partnership available for transfers to Russia and CIS countries via bank branches and mobile app
- Ria Money TransfercoreRia Money Transfer international remittance service available at Nurbank for global money transfers
- KwikpaycoreKwikpay money transfer service for international remittances available at Nurbank branches and mobile app
- SWIFTcoreSWIFT international interbank transfer system for secure international wire transfers
- MultiTransfercoreMultiTransfer service for money transfers to CIS (Commonwealth of Independent States) countries via Nurbank
- NUR ExpresscoreNUR Express proprietary internal money transfer service for fast domestic and international transfers
- VisacoreVisa payment card partnership providing Visa Gold, Visa Platinum, Visa Infinite, and custom design cards with contactless payment capabilities
- Apple PaycoreApple Pay contactless payment integration allowing Nurbank cardholders to make payments using Apple devices
- Google PaycoreGoogle Pay contactless payment integration enabling Nurbank cardholders to make secure payments with Android devices
- FinGramotaminorFinancial literacy partnership with Kazakhstan's financial literacy initiative providing educational content on responsible banking, fraud prevention, and credit management
- KazpostcoreKazpost partnership enabling loan repayments at Kazpost branches across Kazakhstan with no commission charged to customers
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Nurbank competitors and assessment
Company assessmentDirect peers
- Halyk Bank: Kazakhstan's largest universal commercial bank offering retail deposits, consumer/SME lending, cards, payments, and remittances under the same banking license regime as Nurbank. The closest direct comparable on product mix, customer segments (retail + SME + corporate), and regulatory environment.
- Kaspi.kz: Kazakhstan's leading super-app combining marketplace, payments, and consumer finance/banking. Direct competitor to Nurbank on consumer lending, payments, and digital banking distribution, and the dominant force shaping customer expectations in the Kazakh market.
- Bank CenterCredit: Top-3 Kazakh commercial bank serving retail, SME, and corporate clients with a similar full-service banking license model. Closely comparable in branch footprint, SME lending focus, and corporate banking services to Nurbank.
- ForteBank: Mid-to-large Kazakh universal bank with retail, SME, and corporate offerings including deposits, consumer loans, and money transfers. Comparable to Nurbank in product breadth and target segments within the same regulatory framework.
- Eurasian Bank: Kazakhstani universal commercial bank providing retail deposits, consumer and SME lending, card products, and remittances — directly overlapping Nurbank's product set and customer base.
- ATFBank: Universal Kazakh bank competing in retail deposits, consumer credit, SME lending, and card services with a comparable national branch and digital footprint.
- Altyn Bank: Kazakh universal commercial bank (China-linked ownership) with retail deposits, consumer/SME lending, and card services — directly comparable on banking license, segment focus, and product mix.
Emerging players
- Home Credit Bank Kazakhstan: Kazakhstani subsidiary focused on point-of-sale consumer finance and digital lending. Overlaps with Nurbank in unsecured personal lending and digital channels, but narrower in scope.
Broad incumbents
- Tinkoff Bank (T-Bank, Russia): Large digital-first bank whose product, UX, and mobile-app playbook directly shapes competitive expectations in the CIS banking market. Comparable as a benchmark for where Nurbank's Nur24.kz is heading on digital maturity.
Others
- Visa Inc. Card-network partner issuing the Visa-branded debit cards (Gold, Platinum, Infinite, Custom Design) that Nurbank distributes. Adjacent ecosystem participant, not a direct competitor, but key infrastructure for Nurbank's card and payments revenue.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Nurbank social profiles
Digital presenceNurbank compliance and trust
Trust signalCompliance2 records
Nurbank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nurbank leadership team
Management profileNumber of profiles
Nurbank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nurbank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nurbank
What does Nurbank do?
Nurbank is a Kazakhstan-based second-tier commercial bank providing retail banking services (personal loans, deposits, payment cards, international money transfers) and corporate banking services (working capital loans, investment financing, trade finance, and SME lending programs) to individuals, small and medium enterprises, and large corporations. The bank distributes its products through a nationwide branch network, the Nur24.kz mobile banking app, the Nur Business corporate internet banking platform, and partner transfer networks including MoneyGram, UPT, Western Union, SWIFT, and others.
Is Nurbank a public or private company?
Nurbank is a private company. It is classified as public and is currently operating.
When was Nurbank founded?
Nurbank was founded in 1992. It employs 1,001 to 5,000 people.
Where is Nurbank based?
Nurbank is headquartered in Almaty, Kazakhstan, in the Asia region.
How does Nurbank make money?
Six revenue lines are on record. Interest Income from Loans are the primary driver. The others are deposit Interest, money Transfer Fees, card Transaction Fees, corporate Banking Services and fee-based Banking Services.
Who are Nurbank's main competitors?
Direct peers on record are Halyk Bank, Kaspi.kz, Bank CenterCredit, ForteBank, Eurasian Bank, ATFBank and Altyn Bank. Home Credit Bank Kazakhstan is listed as an emerging player. Tinkoff Bank (T-Bank, Russia) is listed as a broad incumbent. Visa Inc. is listed as an others.
Does Nurbank have an API?
No public API is recorded for Nurbank.
What industry is Nurbank in?
Nurbank's product category is Commercial Banking. Its primary akta.pro industry code is FSABABAI, SME Sector/Specialty Banking (Vertical-focused: Healthcare, Agri, Tech, etc.). Its NAICS code is 522110 and its SIC code is 6021.