Address of the Chair
of the Management Board
Dear ladies and gentlemen, customers and partners!
Otbasy Bank JSC is the only bank in Kazakhstan that implements the Housing Construction Savings System. This system was introduced in our country through a state initiative aimed at helping ordinary citizens accumulate funds for the future purchase of their own homes. Today, it serves as an effective tool for the government in implementing its social policy by providing citizens with access to affordable and quality housing.
Accordingly, Otbasy Bank plays a significant role in the economic development of the country.
The Bank’s mission is: “We strengthen the sense of homeland by providing families with their own housing and improving long-term well-being.” This mission defines the Bank’s priorities in the area of sustainable development, with a strong emphasis on social impact. Moreover, Otbasy Bank acts as the authorized operator for the targeted use of pension savings accumulated by the population, particularly for housing improvements and medical expenses.
The Bank’s Sustainable Development Policy demonstrates its commitment to various international standards, including the United Nations Global Compact (UNGC) and ISO 26000:2010. This policy sets forth the principles and approaches for sustainable development and its governance within the Bank.
In addition to its social programs, over the past two years the Bank has actively promoted its green mortgage product. A total of 1,255 loans amounting to KZT 31.4 billion were issued under the green mortgage program during this period.
This year, the Bank will continue expanding its green project portfolio. On 1 November 2024, Otbasy Bank and the Asian Development Bank signed a Memorandum of Understanding for the Inclusive and Green Housing Finance Project in the Republic of Kazakhstan.
n 2024, Otbasy Bank received its first ESG rating from Sustainable Fitch, confirming its adherence to sustainability principles and commitment to socially significant goals such as housing accessibility and support for vulnerable groups.
By the end of 2024, Otbasy Bank accounted for 55 % of all mortgage lending in Kazakhstan. The Bank serves over 29.8 % of the economically active population. It is ranked fourth among second-tier banks in terms of total assets and equity, with a total loan portfolio of KZT 3.5 trillion. Loans with a targeted social impact accounted for 39 % of the Bank’s overall loan portfolio at the end of 2024.
Otbasy Bank plays a significant role in the economic development of the country.
These include preferential loans for low-income and socially vulnerable citizens of Kazakhstan.
These and other initiatives play a critical role in achieving the United Nations Sustainable Development Goals (SDGs), including the eradication of poverty, improvement of living standards, economic growth, reduction of inequality, and the development of sustainable cities and communities by addressing housing shortages and improving living conditions for vulnerable groups.
Additionally, Otbasy Bank actively works to minimize its environmental impact by raising awareness among employees about the importance of sustainable practices, managing resource consumption, and organizing environmental campaigns.
Kazakhstan today serves as a model in the ESG space, demonstrating a shift from extensive to sustainable development. A key milestone in advancing the ESG agenda was the Presidential Decree of February 2023 adopting the strategy for achieving carbon neutrality in the Republic of Kazakhstan by 2060 and updating the country’s Nationally Determined Contribution (NDC) under the Paris Agreement to address climate change.
As a major and the only bank in Kazakhstan implementing the Housing Construction Savings System and addressing housing issues for socially vulnerable groups, Otbasy Bank is actively developing in line with the ESG agenda. The Bank is deeply involved in various social initiatives and carries out projects in both environmental and socially significant areas.