A SUPPLEMENT TO EUROMONEY - April 1997Founded in 1991 as a 100% private commercial bank, Kazkommertsbank has, within a short period of time, grown into one of leading banks in Kazakhstan. Kazkommertsbank is active in foreign trade, corporate finance and privatization consulting and advisory businesses. The bank's mission is to provide banking services at an international standard and local financial expertise to foreign partners. Kazkommertsbank's network of 15 branches covers Almaty and several regional centres. The bank has stakes in a number of Kazakhstan's joint venture banks including ABN-Amro Bank Kazakhstan and KZI Bank. Kazkommertsbank is also a financial operator and a primary bank for Air Kazakhstan National Airlines, Kazak National Railways and Kazatomprom, the state uranium monopoly. Additionally, Kazkommertsbank is a loan administrator for the EBRD, the World Bank and the Asian Development Bank in Kazakhstan. The bank is connected to SWIFT and Reuters and is a member of Europay/MasterCard and Visa International. Like the Republic of Kazakhstan, Kazkommertsbank was assigned a B-minus long-term international debt rating by Thomson BankWatch - BREE. Banking in KazakhstanLast year was one of macroeconomic stabilization and modest economic growth for Kazakhstan. |