B. Nugymanov appointed CEO of AsiaCredit Bank (Kazakhstan)

/KASE, April 27, 11/ - AsiaCredit Bank (Almaty), a member of Kazakhstan Stock Exchange (KASE), has provided KASE with the following communique: quote Following a decision of AsiaCredit Bank's Board of Directors, Bauyrzhan Nugymanov is appointed the chief of the executive body, effective from April 19, 2011. Before his appointment as CEO, Mr. Nugymanov was Deputy Chairman of Board at Astana-Finance. He has extensive experience after working in Kazakhstan's major banks, such as BTA Bank and Nurbank. Shareholders and the Board of Directors are confident that Mr. Nugymanov's successful background as a bank professional will promote the Bank's further development and will facilitate the implementation of set goals. Aldaniyar Sundetov, the former CEO of AsiaCredit Bank (until 2009), was released from his position due to his move to another occupation. AsiaCredit Bank takes the 27th rank regarding assets among commercial banks in the Republic of Kazakhstan. The Bank's assets made up KZT13.7 bn as of 1st quarter 2011. International rating agency Standard&Poor's rated the Bank at B/Stable/В for the short-term and long-term run. unquote [2011-04-27]