04/26/2024
- Who We Are
Today, Baiterek Holding hosted a strategic session, during which the Agrarian Credit Corporation and KazAgroFinance reported their work results to Philip Yeo, Thomas Mirow, and Klaus Mangold (the Holding’s independent directors). The subsidiaries focused mostly on the financing of the agro-industrial complex over the past year. The meeting was also attended by members of the Holding’s Management Board.
Almat Ashirbekov, Chairman of the Board of the Agrarian Credit Corporation, stated that the company was showing good results in 2021.
– The ACC's assets amounted to 821 billion tenge, the equity capital was 283 billion tenge, and total loan portfolio was 818 billion tenge. In 2021, we financed 76.5 thousand agricultural manufacturers with 323 billion tenge, – he said.
According to Almat Ashirbekov, last year the Agrarian Credit Corporation financed 69 projects with 53.1 billion tenge. The funded projects were implemented in 11 branches of agriculture: animal husbandry, crop production, crop storage and processing, etc.
He also reported on the results of the merger of the Fund for Financial Support of Agriculture and the Agrarian Credit Corporation in 2021. The number of employees was reduced by 184 people.
– This year, we plan to merge KazAgroFinance and the Agrarian Credit Corporation. We also intend to implement the one-stop-shop principle in the financing of agro-industrial complex and create loan programs suitable for all borrowers, – stated Almat Ashirbekov.
Aidar Prashev, Chairman of the Board of KazAgroFinance, stated that the company occupied 86% of the leasing market in the agro-industrial complex.
– 50-77% of all Kazakhstan-produced agricultural machinery is leased through KazAgroFinance. Last year, the demand for agricultural machinery did not decrease. At the end of 2021, we leased 141.6 billion tenge worth of equipment. It’s 28.7% more than in 2020. KazAgroFinance has leased an unprecedented 7,276 units of equipment, – he said.
In addition, the heads of the subsidiaries spoke about the implementation of ESG principles, risk management, and digitalization of their services.
At the end of the meeting, members of the Board of Directors and independent directors discussed pressing issues in agriculture and suggested to improve the process of issuing microloans. The meeting participants also agreed to make financial support more accessible to agribusinesses, taking into account risks and inflation.
