Kazkommertsbank: Notification On Utilization Of Credit Line

Kazakhstan: Banking System Undermined by Expensive Credit

13 February 2017, Almaty, Kazakhstan. JSC Kazkommertsbank hereby notifies that on February 9, 2017, it has raised a loan for KZT 200 billion from the National Bank of Kazakhstan. The loan has been provided by the National Bank for general corporate purposes on standard market terms as part of the standby credit line.

JSC Kazkommertsbank (the Bank), one of the largest banks in Kazakhstan and Central Asia, has announced today the repayment of its Senior Unsecured Debt issued in February 2007 for the original amount of 750 million euro.

“Despite of the uncertain situation on international markets and continuing challenges in banking sector of Kazakhstan Kazkommertsbank following its policy on timely servicing of external debt repaid Eurobonds in the amount about 400 million Euros. Initial amount of the issue was 750 million Euros which decreased due to regular buy-backs as a part of effective liquidity management” – said First deputy CEO Mr. Abay Iskandirov.
JSC Kazkommertsbank (KKB) is one of the largest banks in Kazakhstan and Central Asia with total assets of KZT 5,094 billion at 31 December 2015.

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

Major shareholders of Kazkommertsbank include Mr. Kenges Rakishev, Central Asian Investment Company and Mr. Nurzhan Subkhanberdin, Qazaq Financial Group, 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.

Contact details:

Alma Buirakulova, Investor Relations
Tel.: +7 (727) 258-51-25
E-mail: investor_relations@kkb.kz

Larissa Kokovinets, Director, Public Relations
Tel.: +7 (727) 258-54-56
E-mail: pr@kkb.kz