The state-owned mortgage company of Kyrgyzstan will adopt experience of House Construction Savings Bank of Kazakhstan
25 May 2018
JSC House Construction Savings Bank of Kazakhstan (the affiliated organization of Bayterek holding) signed the memorandum of a cooperation with the Kyrgyz partner - JSC State-owned Mortgage Company. This agreement will contribute not only to experience exchange and the development of the mortgage market, but also will make a contribution to formation and development of system of housing construction savings in the Kyrgyz Republic.
- Three years ago, in 2015, in order to increase the availability of housing in the country the “Affordable Housing of 2015-2020 Program” was adopted. Within this program the special representative body in the sphere of housing crediting - JSC State-owned Mortgage Company was created. During this time, we could provide with housing our more than 3 000 citizens. In the long term development and implementation of mechanisms, new to our country. And now experience of the Kazakhstan colleagues who already successfully realize the system of housing construction savings for 15 years which is based on the German “Baushparkasse” model in Kazakhstan is interesting to us. This model is a cornerstone on providing citizens with mortgage housing with the average and low level of income.
For us it is important to learn features of work of this system, to borrow skills that our citizens could also purchase housing on the most optimum conditions, - the chairman of the board explained at a ceremony of signing of the memorandum City Elections Commission Baktybek Shamkeev.
At the moment House Construction Savings Bank – the financial institution, unique in the former Soviet Union, which adopted experience of the European colleagues and began implementation of system of housing construction savings. It assumes accumulation of means on a deposit and the subsequent issue of loans on improvement of housing conditions on a low rate of remuneration – from 3,5 to 5%.
House Construction Savings Bank - the only one bank in Kazakhstan in which the state helps the investors to save for the housing. The state annually charges an award on deposits of Kazakhstan citizens in the amount of 20%. The bonus from the state encourages the deposit amount which isn't exceeding 200 monthly settlement indicators or 481 000 tenges. Following the results of 2018 clients of bank will be able to get an award in the amount up to 96 200 tenges. Thus, in total with remuneration of bank and an award of the state, deposits in House Construction Savings Bank bring to investors profitability of 13,3% per annum.
Such support of the state and available conditions of provision of housing cause trust in Kazakhstan citizens more and more. Now 1 million 100 people trust the system of housing construction savings, and these are 12,8% of an economically active population of the country. The amount of a deposit base of clients with the amount of 598 billion tenges allows to keep the first place in the market of long-term deposits of the population among banks of the second level for several years.
- For House Construction Savings Bank it is a great honor to impart the accumulated experience, especially with our closest neighbors. Today the share of bank in the market of mortgage lending of Kazakhstan constitutes 35%. Annually, House Construction Savings Bank finances purchase of housing on average on the amount of 170 billion tenges. In 2017, the bank issued loans 243 billion tenges, that constituted three quarters of all mortgage of the country. For the entire period of the activities, House Construction Savings Bank helped to improve housing conditions to more than 140 thousand citizens of Kazakhstan, having issued to loans about 850 billion tenges, - the chairman of the board of House Construction Savings Bank Lyazzat Ibragimova told.
She noted that House Construction Savings Bank from the moment of the basis takes active part in all state housing programs. At the moment it is an operator of the state program of housing construction of "Nurly Zher". Within this program since the beginning of 2017 (for 1 year and 4 months) through House Construction Savings Bank more than 7,5 thousand apartments are already realized. It is put into operation of 5,7 thousand more apartments across all Kazakhstan and all of them are on distribution among bank depositors. Also until the end of 2018, it is planned to construct and put into operation even more than 14 thousand apartments.
All objects which are implemented through House Construction Savings Bank are placed on the special baspana.kz portal. There the applicant for affordable housing can choose the city in which he wants to purchase the apartment and to look what objects are under construction whether reception of applications is conducted, to choose the pleasant apartment, to submit the application for participation in a bullet of buyers of housing.
The memorandum of a cooperation was signed:
From JSC House Construction Savings Bank of Kazakhstan: Lyazzat Ibragimov is Chairman of the board
From JSC State-owned Mortgage Company: Baktybek Shamkeev is Chairman of the board
Also participated in a signing ceremony:
Oleg Pankratov is the Minister of Economic Affairs of the Kyrgyz Republic.
Anwar Abdrayev is the president of OYuL "Union of Banks of Kyrgyzstan".
Vice chairmen of the board of JSC House Construction Savings Bank of Kazakhstan Zhanar Zhubaniyazova and Adlet Kozhanbayev.
Representatives of Government office of the Kyrgyz Republic, Fund for management of a state-owned property, National bank of the Kyrgyz Republic and partners of JSC State-owned Mortgage Company.
- Three years ago, in 2015, in order to increase the availability of housing in the country the “Affordable Housing of 2015-2020 Program” was adopted. Within this program the special representative body in the sphere of housing crediting - JSC State-owned Mortgage Company was created. During this time, we could provide with housing our more than 3 000 citizens. In the long term development and implementation of mechanisms, new to our country. And now experience of the Kazakhstan colleagues who already successfully realize the system of housing construction savings for 15 years which is based on the German “Baushparkasse” model in Kazakhstan is interesting to us. This model is a cornerstone on providing citizens with mortgage housing with the average and low level of income.
For us it is important to learn features of work of this system, to borrow skills that our citizens could also purchase housing on the most optimum conditions, - the chairman of the board explained at a ceremony of signing of the memorandum City Elections Commission Baktybek Shamkeev.
At the moment House Construction Savings Bank – the financial institution, unique in the former Soviet Union, which adopted experience of the European colleagues and began implementation of system of housing construction savings. It assumes accumulation of means on a deposit and the subsequent issue of loans on improvement of housing conditions on a low rate of remuneration – from 3,5 to 5%.
House Construction Savings Bank - the only one bank in Kazakhstan in which the state helps the investors to save for the housing. The state annually charges an award on deposits of Kazakhstan citizens in the amount of 20%. The bonus from the state encourages the deposit amount which isn't exceeding 200 monthly settlement indicators or 481 000 tenges. Following the results of 2018 clients of bank will be able to get an award in the amount up to 96 200 tenges. Thus, in total with remuneration of bank and an award of the state, deposits in House Construction Savings Bank bring to investors profitability of 13,3% per annum.
Such support of the state and available conditions of provision of housing cause trust in Kazakhstan citizens more and more. Now 1 million 100 people trust the system of housing construction savings, and these are 12,8% of an economically active population of the country. The amount of a deposit base of clients with the amount of 598 billion tenges allows to keep the first place in the market of long-term deposits of the population among banks of the second level for several years.
- For House Construction Savings Bank it is a great honor to impart the accumulated experience, especially with our closest neighbors. Today the share of bank in the market of mortgage lending of Kazakhstan constitutes 35%. Annually, House Construction Savings Bank finances purchase of housing on average on the amount of 170 billion tenges. In 2017, the bank issued loans 243 billion tenges, that constituted three quarters of all mortgage of the country. For the entire period of the activities, House Construction Savings Bank helped to improve housing conditions to more than 140 thousand citizens of Kazakhstan, having issued to loans about 850 billion tenges, - the chairman of the board of House Construction Savings Bank Lyazzat Ibragimova told.
She noted that House Construction Savings Bank from the moment of the basis takes active part in all state housing programs. At the moment it is an operator of the state program of housing construction of "Nurly Zher". Within this program since the beginning of 2017 (for 1 year and 4 months) through House Construction Savings Bank more than 7,5 thousand apartments are already realized. It is put into operation of 5,7 thousand more apartments across all Kazakhstan and all of them are on distribution among bank depositors. Also until the end of 2018, it is planned to construct and put into operation even more than 14 thousand apartments.
All objects which are implemented through House Construction Savings Bank are placed on the special baspana.kz portal. There the applicant for affordable housing can choose the city in which he wants to purchase the apartment and to look what objects are under construction whether reception of applications is conducted, to choose the pleasant apartment, to submit the application for participation in a bullet of buyers of housing.
The memorandum of a cooperation was signed:
From JSC House Construction Savings Bank of Kazakhstan: Lyazzat Ibragimov is Chairman of the board
From JSC State-owned Mortgage Company: Baktybek Shamkeev is Chairman of the board
Also participated in a signing ceremony:
Oleg Pankratov is the Minister of Economic Affairs of the Kyrgyz Republic.
Anwar Abdrayev is the president of OYuL "Union of Banks of Kyrgyzstan".
Vice chairmen of the board of JSC House Construction Savings Bank of Kazakhstan Zhanar Zhubaniyazova and Adlet Kozhanbayev.
Representatives of Government office of the Kyrgyz Republic, Fund for management of a state-owned property, National bank of the Kyrgyz Republic and partners of JSC State-owned Mortgage Company.
