In 2024–2025, the Bank placed social bonds totaling 491.9 billion KZT (in nominal terms) on the Kazakhstan Stock Exchange (KASE) platform. These bonds were offered to an unrestricted circle of investors to fund the "Nauryz" program, which was developed pursuant to the directive of the President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, as part of a major state plan for economic growth. The bonds were issued at market rates within a yield range of 14.25%–18.00% per annum.

The table below presents the report on bonds placed to implement the "Nauryz" Program: 

The "Nauryz" program was open to citizens of the country who did not own residential property and had no real estate transactions within the last 5 years. This included employees of public sector organizations, military personnel, and staff of specialized state authorities, as well as representatives of socially vulnerable segments of the population: citizens on the housing waitlist, individuals with Group 1 and 2 disabilities, housing applicants under the "orphans" category, large families, families raising children with disabilities, and single-parent families.

All participants undergo a competitive selection process based on a points-scoring system. Youth and socially vulnerable segments of the population are awarded additional points, increasing their chances of participating in the program. For the convenience of citizens, an online application system was developed via video banking and the Bank's real estate portal "Baspana Market". This setup makes the loan acquisition process comfortable and accessible, enabling residents of remote regions to receive services without visiting the Bank’s branches.

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According to mortgage market data analysis, average mortgage interest rates at second-tier banks range between 20% and 24% per annum. In contrast, the borrowing rate under the "Nauryz" program for the end borrower is set at 9% (with an Effective Interest Rate (EIR) ranging from 9.4% to 13%). Furthermore, for citizens classified as socially vulnerable segments of the population under Article 68 of the Law of the Republic of Kazakhstan “On Housing Relations", the borrowing rate is lowered to 7% (EIR from 7.1% to 9.6%). The down payment requirements are exceptionally accessible: just 10% of the loan amount when purchasing primary housing with final (turnkey) finishes, and 20% when purchasing primary housing in shell condition or secondary market properties. Consequently, the "Nauryz" program serves as an effective mechanism for socially vulnerable groups, young families, and regional residents by providing deeply preferential terms. Supported by stable funding via bonds and subsidies, program rates are held at these low levels, remaining accessible to a broad demographic.

In 2026, the Bank will continue the roll-out of the "Nauryz" program. To secure sustainable financing, the Bank plans to execute further social bond placements, opening a reliable and attractive financial instrument to all investor classes, including retail individuals. 

In 2025, the Bank obtained its first independent external review for its inaugural social bond issuance. The Second-Party Opinion (SPO), prepared by the Green Investment Group branch at the Astana International Financial Centre (AIFC), confirmed that the Bank's Social Bond Framework fully aligns with international principles and best practices in the sustainable finance market. This external evaluation validated the transparency of the Bank’s approaches to project selection, the allocation and tracking of proceeds, and comprehensive information disclosure, reinforcing its corporate commitment to responsibility and accountability in sustainable development.

Based on its 2025 performance, Otbasy Bank was honored for the second consecutive year by the Kazakhstan Stock Exchange (KASE) as the "ESG Bond Market Leader." The Bank's social bonds, strictly dedicated to funding social housing initiatives, solidify its market position, validate its long-term corporate strategy, and demonstrate a high level of trust among institutional investors and partners.

Please refer to the attached PDF file for information on the loans issued