OREANDA-NEWS. March 18, 2010. Kazkommertsbank (the "Bank"), one of the largest banks in Kazakhstan and Central Asia, announces that it has increased the chartered capital of OJSC "Kazkommertsbank Kyrgyzstan" in accordance with its preemptive rights, reported the press-centre of KASE.

On 16 October 2009, at the General Shareholders Meeting of OJSC "Kazkommertsbank Kyrgyzstan", a decision was taken to increase the charter capital of the bank by issuing 66,036 new shares at KGS 500 per share. The issue was registered with the Financial Regulation Service of Kyrgyz Republic on 5 February 2010.

As a result, the chartered capital of Kazkommertsbank Kyrgyzstan increased by KGS 33,018,000 (USD 739,233).

The Board of Directors of Kazkommertsbank decided to purchase 62,500 shares in accordance with their preemptive rights. On 12 March 2010, Kazkommertsbank transferred KGS 31,250,000 as a payment for the shares. To purchase the shares Kazkommertsbank used the dividends paid by Kazkommertsbank Kyrgyzstan as required by law of the Kyrgyz Republic on joint stock companies.

Kazkommertsbank continues to own 94.64% of OJSC "Kazkommertsbank Kyrgyzstan"

About Kazkommertsbank Kyrgyzstan

In 2002 Kazkommertsbank became the major shareholder in joint-stock commercial bank "Kyrgyzautobank", which was renamed JSC Kazkommertsbank Kyrgyzstan. Kazkommertsbank Kyrgyzstan provides a wide range of banking services for corporate and retail clients. As of January 1 2010, the total assets of Kazkommertsbank Kyrgyzstan amounted to KGS 1,811 million, equity stood at KGS 616 million, and the loan portfolio totalled KGS 698 million.