The Banker names Kazkommertsbank "The Bank of the year in Kazakhstan" for the fourth time

/Kazakhstan today, September 16, 03/ - International financial magazine The Banker names Kazakommertsbank as "the Bank of the year in Kazakhstan" for the fourth time. For the fourth time, The Banker magazine has named Kazkommertsbank as the Bank of the Year in Kazakhstan. "Excellent financial performance combined with continued dynamic expansion have made Kazkommertsbank a certainty for this year's award" said The Banker. The magazine calls the bank's performance in 2002 as "not far short of stunning". The net profit increased by 36,5% to $51,3 million while ROE reached 27,6% whereas the cost-to-income ratio slipped to 45,4% Kazkommertsbank acquired a bank in Kyrgyzstan and is planning to complete acquisition of a Russian bank in Moscow. "In the domestic market, it is the undisputed leader as measured by assets, lending portfolio and deposits". Last year, Kazkommertsbank issued $200 million eurobonds due 2007. In April, it placed further $500 million 10-year eurobonds at 8,5%. This is the largest and longest deal in Kazakhstan to date. For the first time in history, KKB was included in the list of published by The Banker Top 1000 world banks as a Kazakhstan financial institution. Since 1995 authoritative international financial periodicals Euromoney, The Banker, Central European Magazine, Global Finance award Kazkommertsbank with the name of the best bank of the country. KKB has the highest credit ratings among corporations and banks across (Ba1/BB-/BB). The bank's shareholders include IFC and EBRD. [2003-09-16]