Dear shareholders, customers, partners, colleagues and prospective investors!

 

2025 was a year of sustainable growth, major achievements and important strategic changes for Otbasy Bank. These developments strengthened our position as Kazakhstan’s leading housing savings institution and laid a solid foundation for further growth.

The year’s key achievement was not only record performance, but also a further strengthening of the trust that millions of Kazakhstanis place in our business model. Over the year, more than 1 million new deposit accounts were opened with Otbasy Bank, an all-time record for the housing construction savings system. By comparison, approximately 600,000 new accounts were opened annually in previous years.

Today, 3.7 million Kazakhstanis entrust us with their savings and plan to purchase their own homes with Otbasy Bank. To us, this figure means much more than growth in the customer base. It confirms the resilience of our funding model, the long-term nature of our customer relationships and the high level of public trust that remains one of the Bank’s key competitive advantages.

Customer trust is the foundation of our resilience. It enables the Bank to steadily expand lending, maintain a high level of liquidity and create long-term value for all stakeholders.

For 77,000 families, 2025 was the year in which one of life’s most important goals became a reality: owning a home. It is especially meaningful that one in three borrowers became a homeowner for the first time. We are proud to support our customers over many years, from their first savings to receiving the keys to their own home.

Over almost a quarter of a century, Otbasy Bank has established a unique continuity across generations. Many young Kazakhstanis now open their first deposit accounts with the Bank, following the example of their parents, who once purchased homes through the housing construction savings system. This long-term bond with our customers is one of the Bank’s core values and further confirms the resilience of our business model.

An important area of our work continues to be the implementation of government initiatives aimed at making housing more affordable. In 2025, the Nauryz programme, implemented on the instruction of the Head of State, continued its successful development. It has already enabled nearly 17,000 people to improve their housing conditions. The programme promotes a culture of long-term saving and financial responsibility, fully aligned with Otbasy Bank’s philosophy.

Particular attention during the year was given to supporting working people. In the Year of Working Professions, we launched the new Nauryz Zhumysker programme, which enabled more than 3,000 employees of industrial enterprises to purchase their own homes. Additional support was also provided to participants in corporate housing programmes implemented jointly with employers.

Alongside fulfilling our social mission, we continue to strengthen the Bank’s financial resilience.

At year-end 2025, Otbasy Bank’s share of the housing lending market reached 58%, while loans issued totalled KZT 1.6 trillion. At the same time, the quality of the loan portfolio remained among the best in Kazakhstan’s banking sector: non-performing loans (NPLs) stood at just 0.12%, compared with the banking system average of 3.74%.

The Bank’s net profit reached KZT 126.4 billion for the year, reflecting the effectiveness of our business model, prudent risk management and a disciplined approach to business development.

During the year, we continued to strengthen the Bank’s position as one of Kazakhstan’s leaders in sustainable finance. Otbasy Bank was recognised as the KASE ESG bond market leader, while the volume of social bonds issued approached KZT 500 billion. Sustainable Fitch upgraded the Bank’s ESG rating from 55 to 60, affirming its level 3 rating. We regard sustainable development principles as an integral part of the Bank’s long-term strategy and an important factor in strengthening the confidence of customers, partners and investors.

2025 was also an important stage in our digital transformation. Already 76% of all transactions are conducted remotely, and customers used the Bank’s digital services more than 4 million times. We continue to build a modern financial services ecosystem that combines technology, convenience and a high level of personalised service.

At the same time, the Bank is expanding its role in government initiatives to develop human capital. In 2025, Otbasy Bank became one of the operators of Keleshek, the voluntary funded education savings system. The first 7,340 children have already received initial education capital totalling KZT 1.7 billion, representing an important investment in Kazakhstan’s future generations.

Today, 35.4% of the country’s economically active population participates in the housing construction savings system. This means that nearly one in three working Kazakhstanis relies on Otbasy Bank to help address their housing needs. For us, this trust is not only a strong endorsement of our work, but also a significant responsibility.

We believe the Bank’s long-term success is determined by more than financial results. It is built on responsible corporate governance, effective risk management, transparency, technological progress and the ability to adapt promptly to the changing needs of society and the economy.

In 2026, we will continue to implement our sustainable growth strategy, develop digital services, improve customer experience, strengthen the corporate governance framework and further enhance business efficiency. We are confident that these steps will enable the Bank to reinforce its leadership position and create long-term value for customers, the state, partners and prospective shareholders.

I thank our customers for their trust, our employees for their professionalism and dedication, our partners for their productive cooperation, and our shareholder for supporting the Bank’s strategic development.

Our mission remains unchanged: to foster a stronger sense of belonging to the Homeland by helping families own their homes and build long-term prosperity. This mission guides our decisions today and lays the foundation for our future development.