First Heartland Securities controlled by Galimzhan Yessenov, a son-in-law of Akhmedjan Essimov, former mayor of Almaty, announced that it has decided to conduct the delisting of its shares from the Kazakhstan Stock Exchange (KASE), the exchange said in a statement. This decision was made by the sole shareholder of the…
While President Kassym-Jomart Tokayev was delivering his address to the nation, he said that it is necessary to spur corporate lending and justly noted that banks aren’t active enough in contributing to the economic growth of Kazakhstan. Сorporate loans to the GDP ratio has been declining since 2014. As a…
Over the period from January to April this year, Kazakhstan received more revenue from exports to Russia than over the same period last year. According to the Bureau of National Statistics (BNS), the amount of these exports reached $3.2 billion in terms of money. Such a significant increase in exports…
KASE index, the key stock market index in Kazakhstan, reported a 1.9% decline in May after a 6.2% surge in April. Over the past three years, this is the first time the index has decreased. According to the platform’s data, six companies on the index have shown negative results. Kazatomprom…
Clients of the United Accumulative Pension Fund (UAPF) will be able to transfer 50% of their pension savings to any investment company they want starting from July 1, 2023, according to the Ministry of Labor and Social Protection of the Population. Even though people had the right to use their…
The government of Kazakhstan is going to extend the amount of fixed capital investments (FCI) to $41.5 billion in 2023. Last year, this rate was only about $3.1 billion, according to Prime Minister Alikhan Smailov, who chaired the meeting of an inter-agency board on investments. As National Economy Minister Alibek…
Kyrgyzstan is going to close its eyes on revenues obtained from undisclosed sources. Kyrgyzstan is preparing for capital amnesty, the fourth such amnesty in the country’s history. Kyrgyz parliament has already approved a law on voluntary legalization and amnesty of assets of individuals. Once the law is signed by President…
Bank CenteCredit (BCC) acquired Alfa Bank for $111 million, according to the bank’s financial statement for 2022 published by KASE. As a result of the deal, the bank gained $187 million in revenue. The deal was closed on May 5, 2022, although no details of the deal were disclosed at…
In March, the Astana International Exchange (AIX) reported 638,200 accounts, a 3.8fold increase over the same period last year. Individuals from Kazakhstan account for the vast majority of these accounts. As of the end of March, there were 636,300 such accounts. The number of foreign citizens who have decided to…
According to the London Stock Exchange (LSE), the value of Kaspi.kz shares rose by 3.1% to $73.40 on Monday, thanks to the news about dividend payouts. On April 17, the fintech company notified KASE that its shareholders decided to pay $1.33 per common share as dividends for the year 2022.…
Analysts from Freedom Broker have improved their recommendation for KazMunayGas shares from «wait» to «buy,» according to a daily report by Freedom Broker. The target price for the shares remains at $24.24 per share, although the market value of the stock declined by 0.1% to $22.73 on Monday and by…
In March, the number of brokerage accounts in Kazakhstan rose by 23.4% since the beginning of the year and reached 1.19 million, according to the Central Securities Depository (KCSD). As the KCSD reported, there are 680,000 sub-accounts and 508,000 brokerage accounts registered through omnibus accounts in the country. This year,…
According to Madina Abylkasymova, head of the Agency for Regulation and Development of the Financial Market (ARDFM) in Kazakhstan, the government is looking for buyers for its Bereke Bank. «On March 8, 2023, the bank was removed from the SDN list. Currently, it is performing quite well. For instance, its…
Kaspi.kz, a Kazakhstani fintech company, is launching a four-month buyback program. Kaspi has allocated $100 million to buy its global depository receipts (GDR) in the broad market, according to the Kazakhstan Stock Exchange (KASE). During three previous buyback programs, the company bought GDR for $180 million. Kaspi.kz will buy GDR…
Halyk Bank has reported losses associated with the selling of its subsidiaries in Russia and Tajikistan: Moskommertsbank and Halyk Bank Tajikistan, according to data published on the Kazakhstan Stock Exchange (KASE) website. KASE data shows that the bank estimated its losses associated with the selling of Moskommertsbank at $41.1 million.…
As of March 2, 2023, the exchange rate of the tenge against the U.S. dollar grew by 6.1 tenge and reached 435.5 tenge per dollar, which is a nine-month record. According to experts, there are several reasons for this increase. Dollar sale-off Kazakhstan’s National Bank data shows that the regulator…
In January 2023, the aggravated number of client accounts on Astana International Exchange (AIX) reached 551,100, which is a threefold increase over the year before, according to the trading platform’s data. Accounts of individuals from Kazakhstan account for the vast majority of these accounts (99.7% or 549,400 accounts in general).…
The KASE index, which includes nine companies, rose by 1.2% to 3,338.9 points in February, according to Kazakhstan Stock Exchange (KASE). The key index in Kazakhstan has demonstrated a positive dynamic over three months in a row thanks to five stocks in the index. Best-performing growth stocks The leader of…
In 2022, the combined capacity of renewable energy power stations in Kazakhstan rose by 4.5% and reached 2.5 gigawatts. Last year, Kazakhstan’s power stations produced 112.8 billion kilowatt-hours in total. About 5.1 billion kilowatt-hours were generated by renewable sources like solar and wind power stations, small hydroelectric power stations and…
The Bostandyk district court in Almaty has arrested common and privileged shares of Jusan Bank that belong to First Heartland Securities, the majority stakeholder of the bank, according to the Kazakhstan Stock Exchange (KASE). The court arrested 131.3 million common and privileged shares belonging to First Heartland Securities – the…
As the Kursiv edition came to know, business structures affiliated with the Russian Sinara Group have become the new owner of Moskommertsbank, a former subsidiary of Halyk Bank. Sinara, which is based in Yekaterinburg, previously was controlled by Russian billionaire Dmitry Pumpyansky. He also owned TMK, a metallurgic company that…
According to Lyazzat Satiyeva, head of the Kazakhstani Eurasian Bank, the Central Bank of the Republic of Uzbekistan has given the bank preliminary permission to open a subsidiary in the country. The official noted that Eurasian Bank filed its application to the Central Bank in December 2022. Earlier last year,…
According to Olzhas Kizatov, deputy head of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan (ARDFM), about seven banks might be affected by new restrictions the agency is going to impose on dividend payout policy. All these banks have received financial support from…
Despite the deficit of top-class warehouses in Kazakhstan, professional warehouse developers aren’t keen to invest in new projects. They prefer building warehouses for big lessees. There is a small circle of clients, so such warehouses are rarely seen in the broader market. As a result, retailers have to invest in…
