Farewell Post from the Chairman of the Management Board of BCC: Five Years in Review
Translated from Russian with the help of AI. Original: Russian version
The outgoing Chairman of the Management Board of Bank CenterCredit reviews his five years in office, the bank's results, his team, and the change in corporate culture.
My mission at JSC Bank CenterCredit has come to an end. I served as Chairman of the Management Board for more than five years. During that time we faced many challenges, and I believe we met them with distinction: the buyout of the stake in JSC Tsesnabank; the provisioning obligations under the state program; the AQR, under which we recapitalized the bank and met all provisioning requirements; and the bank's technological transformation.
We then carried out an organic rebranding, which few people noticed.
We completely changed the structure of our portfolio. It is now dominated by retail and SME lending (more than 70%), which gives the institution greater resilience. We introduced numerous innovations and unique products.
By assets, we rank third among second-tier banks. We are the country's third-largest bank by deposits of both individuals and legal entities, the bank of first choice for mortgages and car loans, and in September we moved into first place in SME lending.
We bought JSC Subsidiary Bank Alfa-Bank in 3 weeks, removed it from sanctions in 2 months, and carried out the fastest integration of two banks in Kazakhstan's market. Only 3 months passed from the decision to merge to the combination of the balance sheets. In terms of profitability, the bank is now among the top 5 banks in the country (profit of KZT 140 billion is expected this year).
Our capital now stands at KZT 270 billion (five years ago it was KZT 100 billion), and we have no outstanding obligations under the state program or the AQR.
Of course, much work remains to be done to live up to the status of the country's best bank, and I am confident that the new management has all the resources to do it.
I would like to thank my team. Thanks to our joint efforts, over five years we have radically changed the corporate culture inside the bank, which now allows for more freedom and creativity.