About the bank

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Any state has its own strategic goals and objectives. For Kazakhstan one of the most important areas of social policy is to provide citizens with affordable and high-quality housing. Economic growth and social profile of the State are the basis for establishment of housing construction savings system (HCS) which is regulated by the Law of RK “On housing construction savings in RK” of “7” December 2000.     

"Otbasy bank" JSC is the only one bank in the country implementing housing construction savings system. HCS system is intended for improvement of housing conditions of people through attracting funds of depositors to housing construction deposits and granting them with housing loans.

In July 2003 "Otbasy bank" JSC acquired Certificate of State Registration of a Legal Entity. In September the same year the large scale works were carried out to develop the Bank’s branch network and attracting depositors to make housing construction deposits.

In 2005 the Bank managed to issue the first loan – this was an interim loan. In 2006 the Bank reached break-even operation level and issued the first housing loan. In 2007 the Bank was rated by Moody’s International Rating Agency. Also "Otbasy bank" JSC was the first of Kazakhstani banks to receive Quality Management System Certificate of Conformity ISO9001:2000. This Certificate is confirmed on annual basis by external independent certification body.  

Further extent of involvement of "Otbasy bank" JSC into state and branch programs has significantly extended. In addition the Bank started cooperation with private developers for selling housing through housing construction savings system.

Information on basic indicators

From 2016 and as of 01.06.2024 The bank was allocated loan funds in the amount of 461.64 billion tenge:

- from the National Fund (22 billion tenge);

- from the state budget in the amount of 439.64 billion tenge,

Of the allocated funds as of 01.06.2024 an amount of 420.8 billion tenge was disbursed.

In 2020-2021, NMH Baiterek JSC allocated a bond loan to the Bank totaling 210 billion tenge for the issuance of preliminary and intermediate housing loans to participants in the Nurly Zher housing construction program, the allocated amount was disbursed in full.

From 2017 and as of 01.06.2024 The Almaty city akimat allocated budget funds to the Bank:

- in the amount of 59.8 billion tenge for the issuance of preliminary and intermediate housing loans to participants in the Almaty Zhastary program. As of June 1, 2024, 59.2 billion tenge have been disbursed.

- in the amount of 8.8 billion tenge for the issuance of preliminary and intermediate housing loans to participants in the Bakytty Otbasy program. As of June 1, 2024, an amount of 7.5 billion tenge has been disbursed from the allocated funds.

From 2021 and as of 01.06.2024 The akimat of Astana city allocated budget funds to the Bank:

- in the amount of 80 million tenge for issuing preliminary housing loans. To date, the allocated amount has been spent in full.

- in the amount of 3.5 billion tenge for the issuance of preliminary housing loans within the framework of the “Elorda Zhastary” program. To date, the entire allocated amount has been spent.

As of June 1, 2024, as part of the implementation of regional youth programs, the following was allocated:

- for lending to participants in the Preferential Lending Program for Youth of the Zhambyl Region “Aulieata Zhastary” - 1.5 billion tenge, which have been disbursed in full.

- for lending to citizens under 35 years of age within the framework of the “Karagandy Zhastary” program - 2 billion tenge, which have been disbursed in full.

- for lending to orphans and children without parental care under the Corporate Program, the akimat of the city of Uralsk allocated 50 million tenge, which were disbursed in full.

- for lending to the youth of Atyrau under the “Corporate” program - 1 billion tenge, which were disbursed in full.

- 1 billion tenge was allocated for lending to medical workers in the city of Atyratsu and the Atyrau region, of which 537 million tenge were disbursed.

- for lending to socially vulnerable segments of the population of Atyrau and districts of the Atyrau region - 1.6 billion tenge, which were fully disbursed.

- for lending to citizens of the Republic of Kazakhstan, the akimat of the Burlinsky district of the West Kazakhstan region allocated 440 million tenge, of which 396 million tenge were disbursed.

- for lending to young specialists in Kostanay - 350 million tenge, which were disbursed in full.

- for lending to young specialists in the Almaty region - 495 million tenge, which were disbursed in full.

- for the youth of the city of Taldykorgan, who are registered to receive housing from the state housing stock, or housing rented by the local executive body in the private housing stock - 400 million tenge, of which 361 million tenge were disbursed.

- for lending to youth of the Aktobe region - 300 million tenge, which were disbursed in full.

- for lending to participants in the Bank’s Regional Program for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of local self-governments under the “Abai Zhastary” program - 573 million tenge, of which 569 million tenge were disbursed.

- for lending to employees of the RGU “Fire extinguishing and emergency rescue services of the Abay region Emergency Situations Ministry of the Republic of Kazakhstan” the akimat allocated 90 million tenge, which was disbursed in full.

- for lending to youth within the framework of the Bank’s Regional Program for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the local self-government organization “Ulytau Zhastary” - 500 million tenge, which were disbursed in full.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the local government by the Akimat of Temirtau - 350 million tenge, which was fully utilized.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the local government administration by the akimat of Shymkent - 3 billion tenge, of which 2,095 million tenge were disbursed

- for lending to citizens aged 18-34 years under the “Kostanay Zhastary” program of the Republic of Kazakhstan within the framework of the social policy of the local government administration of the Kostanay region - 1,050 million tenge, which was disbursed in full.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the LEB Akim’s Office of the city of Ekibastuz – 100 million tenge.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the local government by the akimat of the Kyzylorda region - 1,200 million tenge, of which 990 million tenge were disbursed.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the local government by the akimat of the Pavlodar region - 345.5 million tenge, of which 340 million tenge were disbursed.

- for lending to the youth of Aksu “Ertis Zhastary” - 54.5 million tenge, of which 45 million tenge were disbursed.

- for lending to the youth of the Mangistau region “Mangystau Zhastary” - 500 million tenge, of which 446 million tenge were disbursed.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the local government administration by the akimat of the city of Taraz - 100 million tenge, of which 34 million tenge were disbursed.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the LEB Akim's Office of Taldykorgan - 500 million tenge, of which 90 million tenge were disbursed.

- for lending to citizens of the Republic of Kazakhstan within the framework of the social policy of the LEB Akim’s Office of the Ayagoz district of the Abay region - 81 million tenge, of which 27 million tenge were disbursed.

Over the course of its entire activity "Otbasy bank" JSC constantly works on improvement of services and their quality. By terms of savings deposit programs of the Bank vary from 3 to 15 years, whereas terms for granting of housing loans vary from 6 to 25 years. It should be noticed that the State provides financial support for housing construction savings system via paying bonuses to depositors by deposits in "Otbasy bank" JSC. Annual bonus granted by the State is 20% of the total amount of incentive deposit (but not more than 200 minimum calculation indexes).

"Otbasy bank" JSC strives to ensure wide coverage of economically active people in the country to involve them into housing construction savings system, keeping principles of reliability, trust, transparency and high quality in mutual relations with clients and partners.   

Bank organizational structure includes Headquarters in Almaty city and 17 regional subsidiaries.  

MISSION

Providing the own housing for Kazakhstani families and increasing the sense of Homeland

STRATEGIC VISION

In 2023 we are stable, high-tech, client-oriented, socially important bank, developing principles of housing construction savings (HCS) system and actively involved in execution of State programmes, focused on development of housing construction in order to provide housing to general public.

The Sole Shareholder of "House Construction Savings Bank of Kazakhstan" JSC is JSC "Baiterek National Management Holding".

JSC "Baiterek National Management Holding" was founded in 2013.

The Holding’s major objective is management of share packages (participatory interests) of national development institutions, national companies and other legal entities owned by the Bank on the right of ownership and transferred for trust management. The Holding is created in pursuance of optimizing management system of  development institutions, financial organizations and development of the National Economy by the Decree No. 571of the President of the Republic of Kazakhstan of “22” May of 2013. As of the end of 2014 the Holding united 11 daughter organizations under its management.

One of key objectives of “Baiterek” Holding is to ensure effective and mutually supportive functioning of Holding corporate group.

www.baiterek.gov.kz  — official site of JSC "Baiterek National Management Holding".

Ratings of the Bank

Currently the international rating agencies assigned to the Bank the following ratings.

In accordance with Fitch Ratings credit opinion dated 01.03.2022

Long-term rating of issuer's default in the national currency	BBB	Forecast – “Stable”
Short-term rating of issuer's default in the national currency	F2

In accordance with Moody's credit opinion dated 01.11.2023

Long-term rating in regard to deposits in the national currency	Baa2	Forecast – “Positive”
Short-term rating in regard to deposits in the national currency	P-2	Forecast – “Positive”
Baseline credit assessment	Ba2	Forecast – “Positive”

Member in international organizations 

European Federation of Building Societies (EFBS)

International Union for Housing Finance (IUHF)

Memorandum on Cooperation

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Audit

The audit company PricewaterhouseCoopers LLP audits the financial statements of the Bank for 2019-2021, the total value of the Agreement is 75,500,000 KZT tenge, excluding VAT.

The audit company PricewaterhouseCoopers LLP audits the financial statements of the Bank for 2024-2026, the total value of the Agreement is 254,000,000 KZT tenge, excluding VAT.

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Licenses 

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Statistics

Review of the results of independent diagnostics of corporate governance

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Organizational structure

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Report on the sustainable development
of Otbasy Bank JSC for 2020

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