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Bulat Utemuratov

About Bulat Utemuratov

Bulat Utemuratov is a leading businessman and philanthropist. He is the key investor in the projects managed by Verny Capital Investment Group and oversees the activities of the registered Bulat Utemuratov Foundation. He is also the President of the Kazakhstan Tennis Federation and Vice President of the World Tennis.  
Bulat Utemuratov
Bulat Utemuratov

About Bulat Utemuratov

Bulat Utemuratov is a leading businessman and philanthropist. He is the key investor in the projects managed by Verny Capital Investment Group and oversees the activities of the registered Bulat Utemuratov Foundation. He is also the President of the Kazakhstan Tennis Federation and Vice President of the World Tennis.  

Gallery

Early Career

Bulat Utemuratov, an Economics graduate from Almaty Institute for National Economy (Narxoz University), started his career against the backdrop of a difficult economic environment. At that time, the Government of Kazakhstan, having recently regained independence, faced a range of challenges. These included a shortage of hard currency and the absence of a well-functioning banking system, as well as declining industrial output and a lack of an adequate legislative framework and trained specialists to form a new cadre.

At that time, Mr Utemuratov was rapidly advancing in his career, rising from a lecturer at his alma mater to head of department at the Ministry of Foreign Economic Relations. A turning point came when the government established the Kazakhstan Trading House in Austria.

1986
Since
9
Countries
36
Years of expertise
Bulat Utemuratov

Launch of business career

In 1995, Bulat Utemuratov, together with a group of partners, set up Almaty Trade and Finance Bank CJSC (ATF Bank), and by 2007, he had become its sole controlling shareholder. During this period, ATF Bank evolved from a small financial institution into a leading player in the banking market.

In 2007, Bulat Utemuratov, together with minority shareholders, sold the bank to the Italian UniCredit Group for USD$2.2 billion, a deal that experts at the time regarded as the largest transaction in the CIS banking sector.

The entrepreneur used the proceeds from the sale to develop his asset portfolio, becoming the key financier in projects under the management of Verny Capital Investment Company. Today, Verny Capital is one of the largest investment groups in Kazakhstan, specializing in direct investment. The group’s portfolio includes projects and assets spanning the transport and logistics, real estate, hospitality, telecommunications, and financial sectors.

All Verny Capital’s projects, undertaken with international partners, are marked by transparency and high standards of corporate management.

European chapter

As head of the Trading House, the 34-year-old Bulat Utemuratov had a unique opportunity to help Kazakhstan, build a good network across Europe, and develop trade and economic relations between Austria and Kazakhstan. In 1996, following his successful posting in Austria, Mr Utemuratov received a new appointment, as Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan, as well as Permanent Representative to the United Nations in Switzerland.

Mr Utemuratov served as the Special Representative of the President of the Republic of Kazakhstan to Kyrgyzstan.

Bulat Utemuratov
sport
Bulat Utemuratov
ART
Bulat Utemuratov
Urban development
Bulat Utemuratov
Education
Bulat Utemuratov
SPORT

Philanthropy

A dedicated philanthropist, Mr Utemuratov carefully studied international best practices in delivering assistance and implementing systemic solutions. In 2014, he established the Bulat Utemuratov Foundation and is personally involved in its activities covering healthcare, education, environment, disaster relief, sport, culture and urban development.

The total value of projects implemented by the Foundation is over USD$250 million.

Health

The Foundation’s first major initiative was the establishment of autism centers in major cities across Kazakhstan, providing families of children with autism spectrum disorders with access to professional care and support. The Foundation allocated over USD$16 million to implement its flagship program, “Autism. One World for All”. Over the past ten years, more than 20,000 children with autism spectrum disorder (ASD) have benefited from the 13 Asyl Miras Autism Centers.

Urban development and social infrastructure projects

The Bulat Utemuratov Foundation plays an active role in supporting urban development.

In 2020, the Foundation completed reconstruction of the Almaty Botanical Garden, a popular public space in the city. Over USD$15 million was invested in the project.

In 2022, the Foundation initiated several social infrastructure projects across different regions of the country. The total value of these projects exceeded USD$100 million. All were transferred to the government at no cost upon completion.

In September 2023, a new school, funded by the Foundation, was opened in the city of Kosshy. It is the first school in the country to comply with the requirements of the new “Comfortable School” national standard. In September 2024, two more schools of the same type were opened in the Almaty region.

In November 2024, a new passenger terminal at Kyzylorda Airport, covering 7,500 square meters, was launched. It increased the airport’s capacity sevenfold, to 2 million passengers per year. 

In March 2025, a new public and cultural center opened in Kosshy. With a capacity of over 1,000 people and a total area of 8,500 square meters, the center combines sports, educational, and leisure facilities. Furthermore, in 2026, the Foundation transferred the modern Shabyt Youth Development Center, with a total area of 2,600 square meters, to the city of Zhezkazgan.

Disaster Management

In addition to providing local relief, in 2023 the Foundation donated USD$5 million to help Turkey recover from the devastating earthquake, and USD$1 million to support the families of miners who lost their lives in the Kostenko mine explosion in October 2023. 

In 2024, the Foundation allocated over USD$26 million to eliminate the consequences of large-scale floods in Kazakhstan. These funds were used to provide essential aid to flood victims and housing for more than 500 families in the Aktobe and Akmola regions.

Sport

Bulat Utemuratov

Bulat Utemuratov is a passionate supporter of tennis. He has been President of the Kazakhstan Tennis Federation (KTF) since 2007 and a Vice President of the World Tennis. In 2017, Mr Utemuratov’s efforts for tennis development were recognised with awards from the International Tennis Federation and the Asian Tennis Federation “for outstanding achievements in tennis development in Kazakhstan”. 

One of Mr Utemuratov’s key priorities is the promotion of sport in Kazakhstan. To date, Mr Utemuratov and his Group of companies have invested about USD$250 million into the development of sport in Kazakhstan, with funds directed towards launching tennis training programs for children and establishing Team Kazakhstan academies and developing national teams.

The Federation operates tennis centers in all major cities across Kazakhstan. As a result, tennis lessons are now significantly more affordable than in the past, with a month of training currently costing what a single hour did two decades ago. All revenues generated by the tennis centers of the Federation are reinvested into their continued development. These efforts have proven very successful: Kazakhstan’s men’s and women’s national tennis teams are now among the strongest in the world, and the sport enjoys greater popularity across the country than ever before.

As of 2020, Astana hosts an annual ATP 250 tournament. In 2022, the tournament received a one-off upgrade to ATP 500 status. In 2024, the ATP approved the relocation of the ATP 250 tournament from Astana to Almaty.

The Almaty Open received top ratings from players, ranking among the top three tournaments of the year 2024 across more than 30 criteria, including court quality, locker room comfort, spectator support, atmosphere, and more.

Art

With the support of Bulat Utemuratov, the Forte Bank Kulanshi Art Space regularly hosts exhibitions by the Kulanshi Center for Contemporary Art. With the support of the Foundation, the exhibition “Kazakhstan: Treasures of the Great Steppe” was held in 2024 at the Musée Guimet in Paris.

The Foundation has also supported projects to preserve the literary legacy of Olzhas Suleimenov and the musical legacy of Batyrkhan Shukenov. With the support of the Foundation, works including “AZ and I”, “Ambassador of My Land” and “Book of Poems” were republished to mark the 90th anniversary of Olzhas Suleimenov. Shamshi 100 is another project recently launched by the Foundation, aiming to preserve the works of Shamshi Kaldayakov, a key figure in Kazakhstani music and the composer of the national anthem, and promote them among international audiences. The project covers the creation a digital archive of the works of the Kazakh composer, the translation of 20 of his compositions into English and Spanish and the publication of the “Eternal Songs of Love” international anthology.

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