Kazkommertsbank Named As EXPO 2017’s Official Banking Partner

Top Kazakh Bank on the Block for Under $1 May Need $738 Million

One of Kazakhstan’s major banks Kazkommertsbank has become the Official Banking Partner of the upcoming International specialized exhibition EXPO 2017, Kazinform has learnt from the bank’s press service.

“National Company “Astana EXPO 2017” JSC and “Kazkommertsbank” JSC signed the memorandum of cooperation granting the bank the exclusive status of the official banking partner of the exhibition. CEO of “NC “Astana EXPO 2017” Akhmetzhan Yessimov and CEO of Kazkommertsbank Magzhan Auezov put their signatures to the document.

The bank will provide various services for guests of the EXPO event in Astana, including contactless payment and payment solutions to buy tickets and make purchases at EXPO 2017.

“The theme of the exhibition is relevant not only for Kazakhstan, but for the entire world,” Mr Auezov stressed after the signing ceremony.

EXPO 2017 logo will be featured on Kazkommertsbank’s plastic cards and ATM machines.

Remind that recently Kazkommertsbank almost brought down the entire banking system of the country. The regulator was forced to allocate funds for its maintenance.

January 20 Halyk Bank of Kazakhstan has confirmed merger talks with Kazkommertsbank.

About Kazkommertsbank

Kazkommertsbank (KKB) is one of the largest banks in Kazakhstan and Central Asia with total assets of KZT 5,139 billion at 30 September 2016.

In addition to its core banking business (retail and corporate) KKB has subsidiaries active in asset management, insurance and brokerage. KKB also has foreign subsidiaries in the Russian Federation and Tajikistan.

Major shareholders of Kazkommertsbank include Mr. Kenges Rakishev, Qazaq Financial Group, Central Asian Investment Company, Mr. Nurzhan Subkhanberdin and the Kazakh Government through the Samruk-Kazyna National Welfare Fund.

KKB completed an IPO in GDR form on the London Stock Exchange in November 2006, the first CIS bank to do so, in a deal totalling US$845 million. The Bank’s shares are listed on the Kazakhstan Stock Exchange.

 

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