“Baiterek” NMH” JSC was established to optimize the system for development institutions, financial organizations management and national economy development based on the Decree No. 571 of the President of the Republic of Kazakhstan dated May 22, 2013.

The main objective of the Holding is management of national development institutes’, national companies’ and other legal entities’ blocks of shares (participation shares) that belong to it based on the ownership right and placed in trust.

The Holding includes 10 development institutes that were previously under the control of government bodies and “Samruk-Kazyna” National Welfare Fund” JSC.



The Holding became the operator of Nurly Zhol State Infrastructural Development Program for 2015-2019. Kazakhstan Infrastructure Fund was established within the Holding with the capitalization of 20 billion tenge allocated from the national budget in 2013 and 2014.

The Holding and “Kazakhstan PPP Center” JSC jointly established the “Public-Private Partnership Projects Support Center” LLP to facilitate the country’s infrastructural development.

Baiterek Venture Fund, a venture fund for investments in priority sectors of the economy, was established within the Holding’s structure.



The “Leaders of Competitiveness - National Champions” Program was initiated within the 62nd Step of the “Plan of the Nation - 100 Concrete Steps” aimed at promoting the dynamic growth of participating companies which can become competitive leaders in the Eurasian Economic Union.

“Baiterek” NMH” JSC was identified as one of the operators of the Regional Development Program until 2020 in regard to the implementation of housing construction.



The Holding continued implementation of state and government programs of “Nurly Zhol”, Industrial and Innovative Development for 2015-2019, “Business Roadmap - 2020”, Regional Development Program until 2020.

The Mortgage Loans Guarantee Fund was transformed into the “Housing Construction Guarantee Fund” JSC.

In September 2016, a decision was made to expand the mandate of the “PPP Projects Support Center” LLP for renaming it to “Kazakhstan Project Preparation Fund” LLP, the fund for financing and development of industrial and infrastructural projects documentation.



Since January 1, “Nurly Zher” State Housing Construction Program has been launched, within the framework of which the housing block of “Baiterek” NMH” JSC was determined as a single operator in its implementation.

The Development Strategy of “Baiterek” NMH” JSC for 2014-2023 was updated. The new edition of the Corporate Governance Code of “Baiterek” NMH” JSC was approved.

The Board approved the Digitalization Strategy of “Baiterek” NMH” JSC for 2018-2023. The information system of “Digital Baiterek Single Portal for Entrepreneurship Support” that provides comprehensive and customer-targeted business support was put into permanent (industrial) operation.

Subsidiary organizations of the Holding, “DBK” JSC and “KCM” JSC, created DBK EquityFund direct investment fund in the amount of 100 million US dollars to capitalize the projects of “DBK” JSC.

The Holding carried out procedures to optimize the structure, in particular, participation shares were sold in regard to 4 projects for a total amount of 337 million tenge within IFK. Participation share in “Technopark of K.I. Satpayev KazNTU" LLP was sold within “NATD” JSC.



The Board of Directors approved the restated Investment Policy of the Holding focusing on projects of the private sector of the economy to promote the sustainable socioeconomic development of the country.

In December 2018, the debut issue of tenge bonds was placed at Kazakhstan Stock Exchange JSC in the amount of KZT 77.7 bn with a maturity of 15 years.


The amount of KZT 34 bn was allocated to replenish the authorized capital of KazakhExport ESC JSC.

The transformation of activities of the National Agency for Technological Development JSC and its renaming into QazTech Ventures JSC, whose activities will be focused on the venture market development, business incubation and technological entrepreneurship, was completed.

The Holding placed at Kazakhstan Stock Exchange JSC two issues of tenge bonds with a maturity of 10 years: in the amount of KZT 40 bn at a rate of 9.5% per annum, and in the amount of KZT 25 bn at a rate of 9.75% per annum.


On the instructions of the  Head of State Kassym-Zhomart Tokayev, the optimization of the housing block of Baiterek NMH JSC was carried out, as a result of which Baiterek Development JSC (October 2020) and Housing Construction Guarantee Fund JSC (November 2020) were joined to MO KMC JSC. In addition, a developers subsidizing instrument will be transferred to MO KMC JSC, which is provided through Damu Fund JSC. Subsidiary of Baiterek NMH  JSC  – Housing Construction Saving Bank of Kazakhstan  JSC was renamed into Housing Construction Saving Bank Otbasy Bank  JSC (abbreviated as Otbasy Bank JSC).

On November 11, 2020, KZT bonds in the  amount of 50 billion KZT were placed on the Kazakhstan Stock Exchange at a rate of 11.3 % per annum with a maturity of 10 years; December 9, 2020 – two issues of KZT bonds for a total of 100 billion KZT at a rate of 11.3 % per annum with a maturity of 7 and 10 years, respectively.

Baiterek NMH JSC within the framework of the Nurly Zher and the 2020–2021 Employment Roadmap programs attracted bond loans from the  subsidiary of the  National Bank of the  Republic of Kazakhstan, Kazakhstan Sustainability Fund  JSC, totaling 970 billion KZT.

In 2020, Export Insurance Company KazakhExport JSC carried out capitalization in the  amount of 29 billion KZT.


On 26 January 2021, ‘Kazakhstan Mortgage Company’ Mortgage Organization JSC was renamed into Kazakhstan Housing Company JSC.

In accordance with the instructions of the Head of the State, K. Tokayev, as part of the message to the people of the Republic of Kazakhstan dated 1 September 2020 “Kazakhstan in a new reality: time for action”, in March 2021, the work was completed to join ‘KazAgro’ NMH JSC to ‘Baiterek’ NMH JSC.

In March  2021, an issue of  the  tenge bonds in the amount of 50 billion tenge with a maturity of 10 years was placed on the Kazakhstan Stock Exchange.

In May 2021, activities were completed to place the functionality and assets of the subsidiaries – QazTech Ventures JSC and Kazakhstan Project Preparation Fund LLP – under the management of Kazyna Capital Management JSC as separate funds.

In pursuance of the Comprehensive Privatization Plan for 2021–2025, in August 2021, 100 % of the shares in Kazakhstan Investment Fund JSC were sold.

In September 2021, as part of the implementation of the Roadmap for the implementation of the Election Program of  the Nur Otan Party “The path of changes: a decent life for everyone!” the Public Council was established under ‘Baiterek’ NMH JSC.

In November 2021, the Development Plan of ‘Baiterek’ NMH JSC for 2014–2023 was updated.

In December 2021, Agriculture Financial Support Fund  JSC was reorganized by merging with Agrarian Credit Corporation JSC.

In December 2021, an issue of the tenge bonds in the amount of 55 billion tenge with a maturity of 10 years was placed on the Kazakhstan Stock Exchange.

‘Baiterek’ NMH JSC, as part of the implementation of the Nurly Zher and the Employment Roadmap for 2020–2021 programs, obtained the bonded loans from the subsidiary of the National Bank of the Republic of Kazakhstan – Kazakhstan Sustainability Fund JSC – totalling 220 billion tenge.

In 2021, ‘KazakhExport’ EIC JSC capitalized in the amount of 5 billion tenge.


In compliance with the presidential directive, Baiterek Holding has transferred 100% of the shares of KazAgroFinance JSC to Agricultural Credit Corporation JSC. KazAgroFinance continues its primary function of leasing agricultural machinery and equipment.

In accordance with the directives of the Government of Kazakhstan, Baiterek Holding completed the acquisition of a 99.99% stake in Sberbank JSC from PJSC Sberbank of Russia on September 1, 2022. After the acquisition, Sberbank JSC underwent re-registration and a change of name to Bereke Bank JSC. Additionally, in November 2022, Baiterek Holding purchased 248 voting shares from the minority shareholders of Bereke Bank JSC.

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