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Board of Baiterek Holding considers implementation of President’s instructions

Monday, 19 July 2021, 21:23:59

Prime Minister Askar Mamin chaired a meeting of the Board of Directors of Baiterek National Management Holding JSC.

At the meeting, the terms of bonded loans as part of the implementation of the instructions of the Head of State Kassym-Jomart Tokayev to extend the Employment Roadmap and additional financing of this program for a total of 200 billion tenge were discussed.

The funds will be used to finance the agro-industrial complex, infrastructure and business through subsidiaries — Kazakhstan Housing Company JSC, Agrarian Credit Corporation JSC, Development Bank of Kazakhstan JSC and Kazyna Capital Management JSC.

The Board of Directors approved the 2020 Annual Report and the revised Development Plan until 2023. The consolidated assets of the Holding for 2020 increased by 23.4%, amounting to 6 trillion 813 billion tenge. At the same time, the net profit of the Baiterek Holding group amounted to 73.1 billion tenge, having increased by 42% compared to 2019. The share of loan and investment portfolios reached 78.5%, and the volume of attracted funding for the year amounted to 1 trillion 596 billion tenge. Mortgage loans were issued in the amount of 609.4 billion tenge or 58% of the total volume of mortgage loans in the republic.

The meeting participants also discussed the results of the activities of the Holding's subsidiary, Export Insurance Company KazakhExport. In 2020, the company assumed insurance obligations for 134.6 billion tenge, which is 37.6 billion tenge more than in 2019. Despite the introduction of strict restrictions against the background of the spread of the epidemic, insurance support was provided to 91 exporters, incl. 40 exporters received support for the first time. The company's assets amounted to 122.9 billion tenge, equity capital — 109.4 billion tenge.

Additionally, the report on the sustainable development of the Holding for the last year and the attraction of financing for the implementation of two largest investment projects for the organization of tire production in the Karaganda region and the production of transmissions for the leading axles of trucks in the Kostanay region were considered. The implementation of these projects will increase the export of non-primary products by 925 billion tenge and create 1,479 new jobs.


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