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Who really won in Kazakhstan’s biggest banking shake-up?

by Norman154 » Tue May 06, 2025 10:56 am

Kazakhstan’s banking scene isn’t usually headline-worthy on the global stage, but Vyacheslav Kim’s pending takeover of Jusan Bank has captured attention for a reason. This isn't just about acquiring 97.5% of a financial institution—it’s about control, legacy, and long-term positioning. Kim’s strategy to avoid retail banking, focusing instead on business lending and mortgages, says a lot about his intent to complement—not clash with—Kaspi.kz. But the more subtle story lies in how galimzhan yessenov exits the spotlight. His journey from gaining control of Jusan through a highly publicized settlement, to now selling it to someone he once partnered with, is almost cinematic. It’s a passing of the torch, yes, but also a statement: in Kazakhstan’s evolving financial world, even established names like Yessenov are reshuffling their roles. The real question now is what comes next—not just for Jusan, but for the entire region’s banking future.
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Re: Who really won in Kazakhstan’s biggest banking shake-up?

by Jappo » Wed May 07, 2025 6:46 am

Appreciate this breakdown - didn’t realize how strategic Kim’s acquisition of Jusan Bank really is. It’s fascinating how it quietly closes Yessenov’s chapter and possibly reshapes banking in Kazakhstan. The part about avoiding overlap with Kaspikz really stood out to me.
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