Otbasу Bank and IFC Agree on Strategic Cooperation in Housing Finance

On May 30, within the framework of the Astana International Forum, a consulting services agreement was signed between Otbasу Bank, a subsidiary of ‘Baiterek’ National Managing Holding, and the International Finance Corporation (IFC), a member of the World Bank Group. The agreement was signed with the participation of Zhandos Shaikhi, Deputy Chairman of the Management Board of the Holding.

The signing ceremony was attended by Lazzat Ibragimova, Chairwoman of the Management Board of Otbasу Bank, and Wiebke Schloemer, IFC Director for Turkey and Central Asia.

The agreement aims to support the bank's strategic transformation, enhance its operational efficiency, introduce market-based sustainable financing mechanisms, and attract external capital to reduce dependence on budgetary resources.

“The cooperation between Otbasу Bank and IFC reflects the strategic course of the Holding to develop sustainable, market-oriented institutions. We consistently support initiatives aimed at strengthening the financial independence of our subsidiaries, implementing advanced management tools, and enhancing their role in the market. I am confident that this agreement will become a key milestone in the institutional development of the housing finance system in our country,” said Zhandos Shaikhi.

According to the agreement, IFC will provide advisory support for developing a detailed implementation plan for the bank’s medium-term development strategy, including the introduction of new products, enhancing competitiveness, and increasing the role of the private sector in housing finance.

“The signing of the agreement with IFC is an important step in our strategic transformation. We aim not only to remain the leader in housing finance, but also to set a new standard of trust and sustainability in the market. We are proud to have helped hundreds of thousands of families acquire their own homes. Cooperation with IFC will open up new opportunities for us. We plan to introduce innovations, expand our range of services, and improve efficiency so that even more citizens can fulfill their dream of homeownership,” emphasized Lazzat Ibragimova.

Baiterek Holding, as the sole shareholder of Otbasу Bank, continues its systematic efforts to improve the efficiency of development institutions and reduce the share of direct government involvement in economic financing. The signed agreement with IFC aligns with the Holding’s long-term strategy to transform the national financial architecture through international cooperation.