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05/16/2024 15:16:00

Baiterek Holding engages in the 40th Berlin Eurasian Club meeting

31.01.2024

President holds discussion with Nurlan Baibazarov, Baiterek Holding’s Chairman of the Board

President holds discussion with Nurlan Baibazarov, Baiterek Holding’s Chairman of the Board

President Kassym-Jomart Tokayev received a comprehensive report on Baiterek Holding's achievements in 2023, encompassing its efforts to bolster entrepreneurship, support the agricultural sector, and address housing needs.

Highlights of the report included a 12% increase in the holding's assets, a 10% growth in investment and loan portfolios, and a 7% rise in net profit, surpassing 400 billion tenge.

Nurlan Baibazarov highlighted the exceeding of planned targets for financing large projects and leasing transactions by 24%, and micro, small, and medium business projects by 42%. Notably, a record disbursement of 1.061 trillion tenge was channeled through the Development Bank of Kazakhstan and the Industrial Development Fund for 300 projects and leasing transactions. Additionally, 554.7 billion tenge was invested in the agro-industrial complex, with assistance extended to 1.1 thousand farmers affected by adverse weather conditions.

In the housing sector, over 2 million square meters of housing were commissioned through the holding in 2023, with 317.6 billion tenge invested. Otbasy Bank's mortgage products facilitated loans exceeding 1 trillion tenge.

Looking ahead to 2024, Baiterek unveiled plans to invest 370 billion tenge in agricultural projects. Initiatives include financing programs for manufacturing and tourism industries, constructing waste processing and sorting plants, and introducing the 9-20-25 mortgage program.

Nurlan Baibazarov stated that the successful execution of these initiatives would result in Baiterek Holding doubling its contribution to the country's economic growth by the year's end, compared to 2022.

The Head of State underscored the imperative of launching new programs and adopting an integrated approach to drive economic prosperity and enhance citizens' quality of life. Furthermore, he issued directives to reinforce Baiterek's efforts in diversifying the economy and nurturing strategically important industries.

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