State of corporate governance in JSC “People’s bank of Kazakhstan”

Abstract

High-quality corporate governance is a prerequisite for the success of the bank in the competitive market. In its turn, an efficiently built corporate governance system helps the company increase profits, build the right development vector, as corporate governance provides the basis for setting goals for the company, as well as identifying tools for their achievement and control. Banks that plan to increase their competitiveness over western competitors need to deal closely with corporate governance issues. On the one hand, to strengthen the corporate governance system or build an effective management system, as well as to establish the selection of reliable counterparties. JSC “People’s bank of Kazakhstan” implements a similar corporate governance practice also in other Halyk Group organizations, and believes that this contributes to the improvement and uniform understanding of corporate governance principles throughout the group. The topic of corporate governance is of interest to both companies in the real sector of the economy and their partners and contractors to increase capitalization. The corporate governance principles are designed to achieve economic goals, improving investor confidence, the correct distribution of capital of companies.