In our daily practice, we strive to adhere to high standards of corporate governance and continuously work on improvements in this area, using the best international experience.

According to the corporate governance Code of JSC "Development Bank of Kazakhstan" corporate governance in the Bank is based on the principles of:

  • separation of powers;
  • protection of the rights and interests of the sole shareholder;
  • effective management of the Bank by the Board of Directors and the management Board;
  • sustainable development;
  • risk management, internal control and internal audit;
  • regulation of corporate conflicts and conflicts of interest;
  • transparency and objectivity of information disclosure on the Bank's activities.

Along with the unconditional priority of observing the rights and interests of shareholders, the corporate governance system in the Bank ensures protection of the rights and interests of clients, investors, the public and all persons interested in the Bank's activities.

The Board of Directors of the Bank ensures the implementation of interests and protection of shareholders' rights, achievement of the Bank's strategic objectives. Following the generally accepted principles of corporate governance, two members of the Board of Directors of the Bank are independent Directors nominated by the sole shareholder of JSC "NUH "Baiterek". In 2022, 15 in-person and 8 in-absentia meetings of the Board of Directors of the Bank were held, at which decisions were made considered on 147 issues.

The Bank also built an effective system of external and internal control, implemented by the Bank’s Internal Audit Service, by regular audits by independent audit companies of the Bank’s financial statements for compliance with International Financial Reporting Standards (IFRS).

In order to ensure maximum transparency and validity of management decisions, the Bank adheres to the policy of improving the availability and quality of information on the activities of the Bank, which is reflected on the website of the Bank, domestic and foreign media.

A high level of corporate governance invariably demonstrates the effectiveness of the activities of any company. That is why the Development Bank is making every effort to further improve corporate and implement internationally recognized approaches in this area.

An independent diagnostic (assessment) of corporate governance at Development Bank of Kazakhstan JSC (hereinafter – the Bank) was conducted by KPMG Tax and Advisory LLP (hereinafter – KPMG) in the 2-3 quarters of 2023.

The assessment of the effectiveness of the corporate governance system at the Bank was conducted by KPMG in accordance with the current methodology for diagnosing corporate governance at the Bank, as well as according to the principles of corporate governance of the OECD.

Based on the results of the KPMG assessment, the overall indicator of compliance of the Bank’s corporate governance level with the requirements of best practice was 93.1%, the KPMG report was approved by the decision of the Bank’s Board of Directors dated October 6, 2023. (minutes No. 318-2023-16).

The previous diagnostic of corporate governance was conducted by the Bank's Internal Audit Service in 2021 (89.4%).

Internal regulations