KAZAKHSTAN ENERGY WEEK - 2025
BCC Invest: Your Trusted Partner in the World of Investments
Arman Kusainov
Today, BCC Invest is one of the leading investment companies in the country. Since beginning its operations in 1998, the company has accumulated extensive experience in underwriting, asset management, and brokerage services. Despite the challenging geopolitical and economic environment worldwide, BCC Invest continues to deliver strong financial performance and remains a reliable partner for its clients in the capital markets.
In recent years, BCC Invest has undergone significant changes and a profound transformation—both in terms of its development strategy and across all internal processes. Combined with the latest trends in the securities market and the high professionalism of its team, these efforts have resulted in a substantial improvement in financial performance.
According to audited financial statements, the company’s assets in 2024 increased by 75.6%, from KZT 59.5 billion to KZT 104.6 billion. Equity capital grew by 59.1% to KZT 52.1 billion, while net profit rose by 164.5% to KZT 9.2 billion (Figure 1). Assets under management amounted to more than KZT 93.3 billion.
As of July 31, 2025, the company’s assets amounted to KZT 136,021,618 thousand, equity capital stood at KZT 62,212,940 thousand, and net profit since the beginning of the year increased by KZT 5,143,911 thousand.
BCC Invest Company is part of the Bank CenterCredit financial group, which continues to strengthen its presence across various sectors of the economy, including insurance, investment services, and leasing.
In May of this year, BCC Invest celebrated its 27th anniversary. The company remains a trusted partner for its clients, providing brokerage services, granting access to both local and international capital markets, as well as asset management services, including pension savings and mutual investment funds.
Figure 1. Dynamics of Assets, Equity, and Net Profit of BCC Invest for 2022-2025*, KZT billion
Mutual Investment Funds
BCC Invest manages four mutual investment funds (MIFs), all of which have demonstrated strong returns.
As of September 1, 2025, the return of the “CenterCredit – Razumnyi balans” fund over the past 12 months amounted to 25.44% per annum (including paid dividends). The return of the “CenterCredit – Valutnyi” fund over the same period was 19.08% per annum, also including paid dividends. The return of the BCC Elite fund over the same period amounted to 16.08% per annum.
Table 1. Returns of BCC Invest Mutual Investment Funds for 2023-2025
Moody’s Rating
A major achievement in 2024 was the assignment of an international long-term corporate rating of “Ba3” by Moody’s, which is comparable to a “BB-” rating from other agencies.
Foreign Exchange License
Last year, BCC Invest obtained a foreign exchange license. This license is an official authorization granted by the Agency for Regulation and Development of the Financial Market. It entitles professional securities market participants to conduct transactions in non-cash foreign currencies. With this license, BCC Invest gained the ability to operate on par with the largest banks, while maintaining flexibility and a personalized approach.
The license allows not only the purchase and sale of foreign currencies on behalf of clients but also the provision of more advanced solutions—such as currency risk hedging, optimization of settlements under foreign trade contracts, and integration of FX operations into investment strategies. Clients benefit from more favorable exchange rates, prompt execution of transactions, and a wide range of instruments for effective currency management. For clients involved in the international economy – for example, those investing in bonds of foreign issuers – the foreign exchange license represents a significant competitive advantage. For clients focused on the domestic market, the license provides additional opportunities for capital management and investment diversification.
Underwriting and Financial Advisory
In the first half of 2025, BCC Invest successfully participated in a number of landmark transactions. Among them was the placement of Kaspi.kz eurobonds (a “unicorn” company and financial platform ecosystem) on the Astana International Exchange (AIX) in March 2025. The issue had a five-year maturity and carried a coupon rate of 6.25% per annum. Also in March 2025, Kazakhstan Utility Systems LLP (KKS), one of the leaders in Kazakhstan’s energy sector, successfully placed debut three-year bonds on AIX totaling KZT 17 billion with an annual coupon rate of 19%.
In the second half of the year, BCC Invest plans several major placements, although much will depend on the dynamics of the base rate and the national currency exchange rate. The company expects quasi-sovereign entities to remain active in the market in order to meet borrowing needs. Furthermore, the development of green and social bonds is set to continue, supported by government initiatives.
Digitalization and New Products
One of BCC Invest’s key priorities is business digitalization and synergy with Bank CenterCredit, with the goal of creating a one-stop service model and significantly simplifying the client journey.
Already today, every client can use the Bank’s mobile application (bcc.kz) to purchase or redeem units of the “Valutnyi” and “Razumnyi balans” mutual funds in just a few minutes. In the near future, the app will also provide options for opening a brokerage account with BCC Invest, displaying an investment portfolio, and purchasing high-yield bonds and other securities underwritten by BCC Invest.
In spring of this year, BCC Invest launched a new mobile application for retail clients. A platform for corporate clients had already been rolled out in December of the previous year.
The integration with Bank CenterCredit and the new mobile application are expected to positively influence Kazakhstan’s savings culture, equipping users with new investment tools.
In March of this year, BCC Invest launched the Wardat Al Hayat mutual investment fund, which operates in accordance with the principles of Islamic finance. The fund was listed on the Kazakhstan Stock Exchange (KASE), making its units available to a wide range of local investors.
In addition, the company’s strategy includes the development of project financing and asset securitization services. These two areas have not yet been developed in Kazakhstan, but the BCC Invest team is actively exploring this market and plans to execute its first transactions in the coming year.
The company is also prepared to support SMEs by offering various types of financing, including through the establishment of a private equity fund.
Kazakhstan’s capital market is now sufficiently mature, and the BCC Invest team stands ready to support businesses, act as a key partner in the securities market, facilitate liquidity raising, and contribute to the prosperity and growth of its clients.
* State license of the NB RK No. 3.2.235/12 dated 10/07/2018 for carrying out activities on the securities market.