The Banker listed Kazkommertsbank among 25 largest banks of Central and Eastern Europe

/IRBIS, Assel Omarova, July 6, 04/ - According to well-know financial magazine, The Banker, Kazkommertsbank JSC (Almaty) has increased its rating position by 269 points in The Banker's rating and took 718 place in the list of 1000 largest banks in the world. The size of first level shareholders equity was taken as evaluation criterion for the listing Kazkommertsbank noted in the press release distributed today. The press release also stated that the Bank has been included in the list of 25 largest banks in Central and Eastern Europe. Managing Director of the bank, Andrey Timchenko noted that such progress is well grounded. Noticeable growth of equity capital was caused by sale of 15% stake to European Bank for Reconstruction and Development in August 2004 as well as because of capitalization of profits. The rating displays the bank's efforts to support adequate capital growth and corresponding financial stability noted A. Timchenko. [2004-07-06]