Kazkommertsbank Introduces JCB Japanese Payment Cards Service

Kazkommertsbank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated July 5, 2017: quote JSC Kazkommertsbank (hereafter – "KKB") hereby announces on completion of transactions whereby by JSC Halyk Bank (hereafter – "Halyk Bank") acquires common shares of Kazkommertsbank held by Mr. Kenges Rakishev and JSC Sovereign Wealth Fund Samruk-Kazyna subject to the terms of the sale and purchase agreements signed on 15 June 2017. As a result as of 5 July 2017 Halyk Bank holds 96.81% ordinary shares in Kazkommertsbank.

Kazkommertsbank (Almaty, Bank), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with a press release to announce that “in the run-up to the World Winter Universiade to be held in Kazakhstan, Kazkommertsbank (Qazkom) and JCB Co. being the largest Japanese payment card issuer and acquirer
introduced the JCB payment card service in Kazakhstan”, reports KazWorld.info with reference to the website KASE.

Kazkommertsbank presented its updated retail brand QAZKOM Oct. 21 to mark its 25th anniversary. Qazkom is one of the largest banks in Kazakhstan and Central Asia. Bank’s shares are listed on Kazakhstan Stock Exchange (KASE). Global depositary receipts, the basic asset of which is the bank’s shares (GDRs) are listed on the London Stock Exchange (LSE).

KKB is controlled by local businessman Kenges Rakishev, a son-in-law of Nazarbayev’s long-time confidant, Deputy Prime Minister Imangali Tasmagambetov. Rakishev gained a foothold in Kazkom in 2014 when it bought BTA Bank, a twice-defaulted nationalized lender. Over the past year he built a 71 percent stake as founder Nurzhan Subkhanberdin reduced his position.

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