Effective January 2026, Timur Ibragimov has been appointed Chairman of the Management Board of Bakai Bank OJSC. In his new role, he will focus on executing the bank’s growth strategy, accelerating digital transformation, and strengthening Bakai Bank’s competitive position in the market. The appointment reflects the bank’s strategic commitment to enhancing operational leadership and advancing technological development.

At the same time, Sergei Ibragimov will join the Board of Directors, ensuring continuity of strategy and providing shareholder-level oversight. This governance structure establishes a balanced model in which strategic vision and control are complemented by professional executive management.

The transition to the new governance structure represents a deliberate move toward international best practices. In global banking, the appointment of an independent Chairman of the Management Board, separate from the role of a major shareholder, is widely regarded as the gold standard of corporate governance.

This model ensures:

• objective and unbiased management decisions made solely in the interests of the bank’s financial stability and its clients
• transparent and effective oversight by the Board of Directors
• increased confidence among partners, investors, and regulators.

Client trust is a foundation built over many years. By consciously separating ownership and management functions, the bank ensures that every decision is driven by professionalism, accountability, and operational effectiveness. This approach forms the basis for sustainable, long-term growth.

The updated governance structure, effective January 2026, establishes a strong legal and managerial framework. For clients, this means what matters most - reliability, transparency, and confidence that their funds are managed by an independent team of professionals committed to security and technological leadership.