Nazarbayev Fund-Controlled Russian Bank Reports Record Profits for 2024

The Russian bank controlled by Nursultan Nazarbayev's fund has reported record-high profits for 2024, reports Orda.kz.

The Asian-Pacific Bank (ATB), which came under the control of the "Nazarbayev Fund" in 2021, presented its financial results.

According to data posted on the Russian Central Bank's website, ATB earned more than 11.3 billion rubles in net profit last year.

The bank's interest income exceeded 31.2 billion rubles.

ATB's profit increased by 15.54% in the last month alone. During the three years under Nazarbayev fund's ownership, it has earned 19.88 billion rubles.

ATB came under the former Kazakh President's control after the Russian Central Bank put the financial institution up for auction in 2021. The buyer was Pioneer Capital Invest LLP, owned by the "Nazarbayev Fund" and other structures linked to Nazarbayev.

Last year, we reported that a company created on Nazarbayev's initiative came under French control.

Original Author: Nikita Drobny