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KazakhExport JSC’s equity increased by 82% in 2019

The audit report of KazakhExport Export Insurance Company JSC for the past year was published.

As the report shows, as of January 1, 2019, assets of KazakhExport Export Insurance Company JSC as compared to 2018 increased from 48.7 billion KZT to 88.2 billion KZT.

Also, KazakhExport’s net profit increased almost 1.5 times. If at the end of 2018, the Company earned almost 1.6 billion KZT, in 2019 – almost 2.4 billion KZT (an increase of 48.5%). Moreover, the main income of the Company was insurance premiums.

According to the results of 2019, 100% of the Company’s net profit is planned to be directed to the payment of dividends.

All this ultimately led to an increase in equity: a year earlier it amounted to 43.3 billion KZT, and by the end of 2019 it grew to 79.2 billion KZT.

“The company worked fruitfully last year. To protect transactions from possible risks, our experts conduct continuous monitoring and regularly evaluate the solvency of our counterparties. In addition to the analysis of individual borrowers, an assessment of the investment portfolio as a whole is carried out in relation to the concentration of loans and market risks,” KazakhExport Export Insurance Company JSC noted.

For more information on audited financial statements, please visit our website at https://keg.kz/files/audirovannaya_otchetnost_2019g_rus.pdf

KazakhExport Export Insurance Company JSC (part of Baiterek NMH JSC) is a subordinate organization of the Ministry of Trade and Integration of the Republic of Kazakhstan to promote the export of non-primary goods and services. The mission of KazakhExport Export Insurance Company JSC is to support growth of export of non-primary goods, works, services in priority sectors of the economy and the formation of the practice of financial-insurance and non-financial support for Kazakhstani enterprises.