ASTANA, Kazakhstan, May 29. The net profit of Kazakhstan's Baiterek (national holding) amounted to 121 billion tenge (about $273.1 million) from January through March 2024, said Deputy Chairman of the Board of the holding Zhandos Shaikhy, Trend reports.
"The holding's net profit for the first quarter, according to preliminary data, amounted to 121 billion tenge, which is 9 percent more than the previous year," he said.
According to Shaiky, in the first quarter, 14 export operations and 8 investment projects were financed for a total of 153.5 billion tenge (about $346 million).
In support of the agro-industrial complex, financing was provided to 3,461 entities in the amount of 178 billion tenge (about $401 million), 36 exporters were also supported for a total amount of 210.7 billion tenge (about $475 million).
A subsidiary of Otbasy Bank granted 248.6 billion tenge (approximately $561 million) in loans to the people in the first quarter, up 35.7 percent over the same period the previous year.
Meanwhile, the net profit of the Baiterek holding exceeded 400 billion tenge in 2023, which is 7 percent more than in 2022. Last year, assets also grew by 12 percent, and the group's investment and loan portfolios increased by 10 percent.
Baiterek exceeded expected indicators for financing big projects and leasing transactions by two percent and for micro, small, and medium company projects by 42 percent as part of real sector development.
In addition, 554.7 billion tenge (about $1.23 billion) were invested in the agro-industrial complex, which is 11 percent higher than the planned volume. Also in 2023, through subsidiaries, assistance was provided to 1,100 farmers affected by drought in the amount of 48 billion tenge (about $106 million).
Moreover, over 317.6 billion tenges were invested in the housing sector.
Meanwhile, Baiterek implements Kazakhstan's strategic policies for economic diversification and development in three key sectors: SMEs and export-oriented processing industries; affordable housing; and lending and leasing services to agricultural businesses.
