Kazkommertsbank will open a branch in Cyprus

/REUTERS, Almaty, December 18, 03/ - The largest in Kazakhstan Kazkommertsbank plans to open a branch in Cyprus and has already obtained a corresponding certificate from Central bank of Cyprus. "Kazkommertsbank thinks that the key customers of Cyprus branch will be Russian companies with partners in Kazakhstan", - the announcement of the bank states. Kazkommertsbank's assets as of October 1 equaled to $2.7 bn, capital $295 mn. Kazkommertsbank is headed by its Management Board . European bank for Reconstruction and Development possesses 15% of shares. [2003-12-18]