Kazakh holding Baiterek intends to increase its assets by 2.2 times
Astana, Kazakhstan, May 26
By Daniyar Mukhtarov - Trend:
Kazakh National Managing Holding Baiterek intends to increase the assets of the group of companies included in the holding from 1.9 trillion tenge to 4.1 trillion tenge (182.74 tenge = $ 1) or by 2.2 times by 2018.
This is envisaged by the plan of developing a group of companies of the holding for five years, which was approved at a regular meeting of the board of directors of the holding on Monday.
A share of the loan and investment portfolios in 2014-2018 in the assets of the group of companies of the holding will increase from 47 percent to 77 percent.
The consolidated development plan of the holding for 2014-2018 testifies to the fact that the revenues will hit 168 billion tenge in 2014 and increase to 272 billion tenge or 62 percent by 2018.
The total consolidated net profit is projected at 9.9 billion tenge in 2014, 68 billion tenge in 2018, which is a six-fold increase for five years.
Return on equity will increase from 1.4 percent in 2014 to 6.1 percent in 2018. The return on assets will increase from 0.5 percent to 1.7 percent.
Kazakh National Managing Holding Baiterek was established in accordance with the decree of the President of Kazakhstan dated May 22, 2013.
The purpose of the holding establishment is to promote the development and diversification of the economy, drawing investments, the development of clusters and the improvement of corporate governance system in its subsidiaries.
The holding's trust management includes such state financial institutions as the Development Bank of Kazakhstan, Housing Construction Savings Bank of Kazakhstan, KazExportGarant, DAMU Entrepreneurship Development Fund, National Agency for Technological Development, Investment Fund of Kazakhstan, Kazyna Capital Management, Distressed Assets Fund, Kazakhstan Mortgage Guarantee Fund and Kazakhstan Mortgage Company.
edited by CN