INVESTMENTS IN FINANCIAL AND INSURANCE ACTIVITIES REACHED ALL-TIME HIGH IN KAZAKHSTAN
Capital investments in financial and insurance activities exceeded 60 billion tenge in three quarters. Of these, 63% fall on Almaty, a financial center of Kazakhstan. Over 99% of investment injections are secured by own funds of the business, Finprom.kz reports.
For 9 months of this year, the volume of investments in fixed assets in financial and insurance activities amounted to 60.2 billion tenge, which is an all-time record indicator, increasing by 38.7% compared to January-September 2018. In 2018 alone overall investments in financial and insurance activities equalled 65.6 billion tenge – 9.1% more than in 2017.
More than 99% of all capital investments attracted to the segment of financial and insurance activities are own funds of the business: 59.7 billion tenge, an increase of 39.3% within the year.
Other sources of financing include bank loans with an increase of 2.6% within the year, to 432.8 million tenge. While funding from other borrowed funds decreased by 32.6%, to 112.8 million tenge.
Almaty, which is a financial hub of the country, represents 63.3% of all investments in fixed assets in financial and insurance activities: 38.1 billion tenge, a 29.6% increase within the year. However, the megalopolis’s share has reduced from 67.7% to 63.3%.
Nur-Sultan is second, where investments have increased by 49%, up to 8.5 billion tenge. Its share has increased from 13.1% to 14.1% within the year.
Mangystau region has made the significant growth in capital investment in financial and insurance activities, increasing by 5.6 times, up to 1.9 billion tenge. The region’s share has risen from 0.8% to 3.1%. Turkestan region has also performed well with a 6.4-time increase within the year, up to 78.9 million tenge, which is the lowest indicator among the regions of the country.
Source: Kazakhtan 2050