British edition The Banker first placed Kazakhstan bank among thousand largest banks of the world

/INTERFAX-KAZAKHSTAN, August 8, 03/ - Kazakhstan commercial "Kazkommertsbank" (KKB) has been included into the list of 1000 largest banks of the world, which is made every year in July by British journal The Banker. "The journal calls it memorable that several countries, including Kazakhstan, which in the person of "Kazkommertsbank" has first been included into the list, in the list "Top 1000 World Banks" that is the significant achievement for the whole banking system of the country", - notes the message, which was spread today by the press-service of KKB. It says that classification of the world banks was made judging on the size of core capital in compliance with Basel agreement standards, and also such indexes of banks as the size of assets, yield of capital and assets, adequacy of capital, profit and its real growth. According to estimations of The Banker, size of KKB's core capital by the end of 2002 was $156 m., assets - $1.7 bn. The bank's press-service explained to "Interfax-Kazakhstan" that KKB took the 48 place by yield of assets, by the size of assets - 946th, by the volume of shareholders equity of the 1 level - 989th. "We are among 1000 largest banks of the world not because we are known more than other Kazakhstan banks or loved abroad, but because of objective indicators - our sizes have grown, we have increased assets, we are stably developing", - managing director of KKB Andrey Timchenko said. "Kazkommertsbank" is the largest Kazakhstan bank. Founded in 1990 KKB is present today in all business centers of Kazakhstan. The bank has daughter bank in Kirgizia and is getting ready to buy Russian Moskommertsbank. European bank for reconstruction and development is among KKB's shareholders, it has 15-% stake of common voting shares. Assets of KKB as of July 1 of 2003 were equal to $2.4 bn. that was one fourth of the country's banking system. Stake of KKB in total capital of banks and in credit portfolio is equal correspondingly to 21.5% and 24.2%, or $267.6 m. and $1.3 bn. KKB with it volume of liabilities before clients, which is $1.08 bn. is leading at deposit market, its stake is 21.1%. [2003-08-08]