HCSB is going to develop a new loan product

A subsidiary of “Baiterek” Holding – Housing Construction Savings Bank – has entered into an agreement with the International Finance Corporation (IFC) on the development of a new loan product for the population of the country.

Its development will be finished by the end of 2019. IFC will analyze the current activity of the bank, and then do the segmentation of the existing customer base. To understand the needs of customers, international experts will examine their field of activity, income level and geographical location. On the basis of these data, the existing product line and business processes of the HCSB will be improved and a new loan product developed.

- We believe that a developed housing sector is crucial for the sustainable development of Kazakhstan. HCSB is the perfect partner in our efforts to strengthen the competitiveness of the banking sector and ensure financial inclusion in Kazakhstan - said Cassandra Colbert, IFC Regional Manager for Central Asia.

- To date, the system of housing construction savings is the most affordable way to purchase housing in Kazakhstan. More than 1.2 million Kazakhstan people trust it. To make new residence among the depositors of HCSB even more, the bank goes to the international level. This will attract additional investments and help to introduce new tools to solve the housing issues - said Lyazzat Ibragimova, Chairman of the Management Board of “Housing Construction Savings Bank of Kazakhstan” JSC.

During the signing ceremony, important figures were announced:

- The system of housing construction savings today involves 13.1% share of the economically active population of Kazakhstan.

- HCSB helped to improve the living conditions of 165 thousand Kazakhstan people.

- Only in October of the current year, 4.5 thousand people celebrated housewarming - this is a historic record for the housing sector.

- During the online-transfer of deposits, more than 2.1 thousand deposits were used. The total amount of transferred savings amounted to 4 billion KZT.

- More than 800 freelance consultants work in HCSB, who have opened 360 thousand deposits in less than two years. The total number of new contracts amounted to 637.5 thousand.