Kazakhstani brokers report a 22% increase in assets

Kazakhstani brokerage companies reported a 22% increase in assets year-on-year from $978 million in February 2023 to $1.1 billion in February 2024, according to the National Bank of Kazakhstan.

At the same time, the companies also reported a 42% increase in their liabilities. For instance, those were equal to $312 million in February last year compared to $444 million now. The equity capital of the companies has increased by 12.7% from $667 million to $752 million.

However, both assets and liabilities of the companies decreased in January after growth in December month-on-month. For example, as of December 1, 2023, brokers possessed 568 billion tenge in assets, compared to 574 billion as of January 1, and 537 billion as of February 1.

According to the National Bank, some companies reported losses in January such as Halyk Finance ($29,017), First Heartland Capital ($649,540), Astana Invest, UD Capital, SkyBridge Invest, N1broker and Private Asset Management.

On the other hand, a few companies reported an increase in revenue in January 2024. Among them are NGDEM Finance (+$2.4 million), BCC Invest ($933,016), Jusan Invest ($828,107) and Freedom Finance (+$616,058).

It is unclear who the founders of NGDEM Finance are, although the company is headed by Daulet Zhakishev. NGDEM Finance was established in 1997 as the Accumulative Pension Fund Neftegas-Dem. In 2014, it switched to an investment and management business.

Last year, NGDEM reported $35.2 million in revenue, according to KASE. As of February 1, 2024, Freedom Finance was the market leader in terms of assets, liabilities and capital