Nazarbayev Bank reports record profits.
A Russian bank, overseen by a fund linked to Nursultan Nazarbayev, has reported record-high profits for 2024, according to Orda.kz.
https://orda.kz/bank-nazarbaeva-otchitalsja-o-rekordnoj-pribyli-397682/2025-02-04 07:31:32
The bank's interest income exceeded 31.2 billion rubles (162.4 billion tenge). ATB's profit reached a record high, increasing by 15.54% over the last month. In total, over the past three years, during which the bank has been owned by the Nazarbayev Fund, it has earned 19.88 billion rubles (over 103 billion tenge).
ATB came under the control of the former president of Kazakhstan after the Russian Central Bank put the financial institution up for sale in 2021. The buyer was "Pioneer Capital Invest," a limited liability company owned by the "Nazarbayev Fund" and other entities associated with the former president of Kazakhstan.
Last year, we reported that the company, established at Nazarbayev's initiative, came under French control.