The Fund of Problem Loans JSC was established in 2012 to assist banks in the process of reducing the NPL on their balance sheets in order to fulfill the strategic objective of improving the quality of the loan portfolio in the banking system. From 2012 to 2017, the Fund was managed by the National Bank of the Republic of Kazakhstan. In 2017, the Fund was transferred to the management of the Ministry of Finance of the Republic of Kazakhstan. The sole shareholder of the Fund is the Government of the Republic of Kazakhstan.

Mission of the Fund

Contributing to the recovery of the national economy through:
Improving the quality of loan portfolios of second-tier banks through the purchase of non-performing assets; Involving non-performing assets in the economic turnover through their rehabilitation and sale.

Strategic directions

By 2027, we are to be a professional management company and a national competence center in the field of financial institutions' loan portfolio recovery, asset restructuring and distressed portfolio management. The Fund is guided by the Principles that ensure the transparency of the decision-making process and the return of allocated funds. The activities of the Fund are the rehabilitation of the banking sector and the involvement of redeemed non-performing loans into the economic circulation. The Fund’s strategy in the field of asset management is aimed at the prompt and targeted return of assets to economic circulation while maintaining a constant and systematic cash flow from the sale of assets.
Первым стратегическим направлением деятельности Фонда является оздоровление банковского сектора в обеспечении стабильного функционирования финансовой системы путем выработки и использования эффективных мер для очистки балансов банков второго уровня от «неработающих» займов.
Вторым стратегическим направлением деятельности Фонда является вовлечение в экономический оборот выкупленных неработающих займов путем оздоровления выкупленных активов (реструктуризация, привлечение инвесторов, досудебная/судебная реализация, банкротство), реализация девелоперских проектов, а также реализации имущества Фонда и дочерних организаций.

Membership in international organizations

The Problem Loan Fund is a member of the International Public Asset Management Company Forum (IPAF). IPAF is an international platform for the exchange of successful strategies and knowledge, as well as cooperation. IPAF was organized by 7 (seven) Asian state-owned asset management companies:

- China Asset Management Company (AMC) Cinda Co., Ltd. (PRC)
- China AMC Great Wall (PRC)
- China AMC Huarong Co., Ltd. (PRC)
- Korea Asset Management Corporation (KAMCO)
- Thailand Asset Management Company Sukhumvit Co., Ltd.
- Vietnam Debt and Asset Trading Company (DATC)
- Problem Loan Fund (Kazakhstan)

IPAF began operations in 2013 and has 13 active members including the Fund. During the period of work, IPAF has held 4 summits and 6 training seminars.

Memorandum of Understanding with KAMCO

In 2018, a Memorandum of Understanding was signed between the Fund and the Korea Asset Management Corporation (KAMCO). KAMCO was established in 1962 as a subordinate entity of the Development Bank of Korea to manage its distressed assets. Subsequently, KAMCO was reorganized and was empowered to repurchase and rehabilitate non-performing loans of financial institutions.