Kazkommertsbank Clarifies Current Situation On Bank’s Financial Position

Kazkommertsbank Reports 1st Half 2017 Financial Results

Kazkommertsbank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release:

“In response to recent active discussions on the Bank’s financial situation, JSC
Kazkommertsbank (Qazkom) hereby informs all stakeholders on the current
situation in the Bank.

Last week, Bloomberg with reference to anonymous sources commented that
the Bank has been granted an emergency loan, which has been assumed as a
first step of the special government-sponsored KZT 1.5 trillion rescue program
being discussed between the Management of the Bank and the National Bank
of Kazakhstan.

The Bank hereby officially states that it is not in any negotiations with the
National Bank and the Government on bailout. On December 14, 2016 the Bank
applied for the loan from the National Bank in amount of KZT 400.8 billion
under the standard procedures on provision of short-term liquidity to the
second-tier banks. The loan has been extended at market terms and conditions
for a fixed period with interest being accrued and paid.”

The full press release on the site of Kazakhstan Stock Exchange (KASE)

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