First Heartland Securities JSC, an investment unit of the financial holding company of the autonomous educational organizations group Nazarbayev University, Nazarbayev Intellectual Schools and Nazarbayev Fund, announces the acquisition of 99.5% of ordinary shares of Tsesnabank JSC.

The transaction was carried out under the Sale and Purchase Agreement and in accordance with the Framework Agreement approved by the Government and the National Bank of the Republic of Kazakhstan. To fulfill its obligations, First Heartland Securities JSC (hereinafter referred to as FHS), after fulfilling the preconditions, will make additional capitalization of the Bank in the amount of 70 billion tenge.

The measures taken by the National Bank of the Republic of Kazakhstan, the Government and the new shareholder will contribute to the recovery of the bank and the resumption of lending to the real sector when the bank fulfills all the necessary prudential standards and requirements of the National Bank of the Republic of Kazakhstan. In addition, the measures taken will allow Tsesnabank to fulfill all its obligations to its customers as before and to ensure the reliability and safety of depositors’ funds.

“Tsesnabank JSC is one of the leaders of the Kazakhstan financial market in terms of lending to the real sector of the economy, including small and medium-sized businesses and individual entrepreneurship” says Erke Nurkenov, Chairman of the Board of First Heartland Securities JSC. FHS will continue to develop Tsesnabank and strengthen its position in the SME segment and working with individuals, primarily focusing on improving the quality and accessibility of services, he added.

With the purchase of Tsesnabank JSC, FHS will be able to diversify its banking business and cover the SME, retail and insurance segments, in addition to investment, corporate and private banking

About First Heartland Securities

“First Heartland Securities” JSC is a Kazakhstani brokerage company that is part of the investment holding of autonomous educational organizations “Nazarbayev University”, “Nazarbayev Intellectual Schools” and “Nazarbayev Fund”.

FHS is part of the First Heartland Group, which includes the commercial bank First Heartland Bank and the asset management company First Heartland Capital.

FHS has 10 years of experience in the securities market. The company provides investment financial, as well as banking services through a subsidiary bank of FHB group of companies “Nazarbayev University”, “Nazarbayev Intellectual Schools”, their employees and large clients of the private sector.

FHS adheres to a conservative low-risk credit and investment strategy, uses advanced technologies in the preparation of investment decisions, and provides a high level of personal service.

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Media Contact:

Vyacheslav Balykov

Number: +7 727 258 1505 internal 11082

E-mail: vyacheslav.balykov@fhb.kz