Today in Astana, the regular meeting of the Board of Directors of JSC National Managing Holding Baiterek took place, during which the Holding's annual report for 2016 was approved.

The annual report reflects key events and main results of the Holding's and its subsidiaries' activities for 2016, the results of operating and financial activities for the reporting period, strategic tasks and ways to achieve them.

According to the report, by the end of 2016, the ownership capital of the Baiterek Holding amounted to 943.4 billion tenge, assets reached 4.103 billion tenge, credit and investment portfolios – 2.908 billion tenge. The Holding's contribution to long-term crediting of non-resource-based sectors of the economy is 57%. 13.2 thousand SME projects worth 606 billion tenge have been supported. The share of total SME lending amounted to 30.5%. The provided business support measures allowed to create 19.4 thousand new jobs and save 76.3 thousand jobs.

Subsidiary organizations of the Holding have put into operation 456.5 thousand square meters of housing and provided 15.3 thousand families with housing. In the total volume of mortgage loans issued in 2016, the share of NMH Baiterek JSC was 67%.

During the meeting of the Board of Directors, a decision was made to submit a draft of the Corporate Governance Code of JSC NMH Baiterek to the sole shareholder. The new version of the code was developed to ensure that the corporate management of the Baiterek Holding complies with the established OECD standards. In particular, the Code specifies in detail the rights of a single shareholder, the principles of dividend policy, the principles of fulfilling the functional duties of members of the Board of Directors and must be introduced in subsidiaries.

In addition, the Board of Directors approved a report on the implementation of the Development Strategy of JSC NMH Baiterek for 2014-2023 based on the results of 2014-2016. According to the report, following the results of 2016 compared to 2013, assets grew 2.2 times, loan portfolio grew 3 times, and profits grew 1.5 times. The implementation of the Development Strategy for the reporting period was recognized as effective.

The meeting also approved the introduction of a change in the Code of Business Ethics of JSC NMH Baiterek, related to the formation of the Compliance Service of the Holding and approved a report on the overall performance of the head of the internal audit service in the III-IV quarters of 2016.