Address of the Chair
of the Board of Directors
Dear ladies and gentlemen, customers and partners!
The implementation of ESG standards plays a key role in ensuring the sustainable development of companies, and Kazakhstan is among the regional leaders in this process across Central Asia. The rapid advancement of the regulatory framework in the field of sustainable development has become one of the major drivers supporting the active promotion of ESG principles in our country.
Environmental responsibility, social impact, and the quality of corporate governance increasingly influence decision-making, investment attraction, and the strengthening of the reputation of local companies.
Otbasу Bank JSC (hereinafter referred to as Otbasy Bank or the Bank) has been consistently expanding the integration of ESG practices into its operations year after year, which are becoming increasingly familiar to the people of Kazakhstan. This is confirmed by a public opinion survey conducted in 2024 to assess the Bank’s reputation. The majority of respondents recognized Otbasy Bank as a socially responsible financial institution that shows care for people, the environment, and society. Additionally, 69.9 % of respondents acknowledged that Otbasy Bank ensures access to financial services for those in need of improved housing conditions, thus supporting financial inclusion for socially vulnerable groups. Two-thirds of respondents agreed that Otbasy Bank upholds ethical standards and is free from corruption. These results clearly demonstrate that the Bank is developing a strong, positive image among key stakeholders and the general public in such ESG dimensions as Social and Governance.
Otbasy Bank remains the only bank in Kazakhstan implementing the Housing Construction Savings System. It plays a vital role in addressing the country’s housing challenges. By the end of 2024, 55 % of all mortgage loans in Kazakhstan were issued by our Bank. Today, our product line includes a variety of in-demand solutions for every segment of the population, including those with low incomes or no down payment available for loans.
The Bank has actively promoted its green mortgage product, contributing to environmental preservation and healthier living. In 2023 and 2024, a total of 1,255 loans were issued under the Green Mortgage program, amounting to KZT 31.4 billion.
In addition to social projects, over the past two years, the Bank has actively promoted its green mortgage product, contributing to environmental preservation and healthier living. In 2023 and 2024, a total of 1,255 loans were issued under the Green Mortgage program, amounting to KZT 31.4 billion.
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.
The Bank has adopted a new 10-year development strategy, with ESG transformation defined as a core strategic direction. ESG management is now fully integrated into all levels of the Bank’s organizational structure.
Otbasy Bank aims to become the leading financial institution in the country by applying ESG principles to build customer trust and contribute to the development of a sustainable and prosperous society in Kazakhstan.