QAZKOM has launched the Western Union money transfers via Homebank. From now on, the Homebank users can easily send and receive the Western Union money transfers without any need to visit the Bank branches.
The Board of Directors of Halyk Bank of Kazakhstan JSC has approved a gradual integration of Halyk Bank with Kazkommertsbank, its subsidiary. The integration will be effected as soon as it is approved by regulatory bodies and the service and technological readiness, including synching of the product proposition, banking procedures and processes, integration of IT systems and banking infrastructure, of both financial institutions is ensured.
ALMEX Holding Group has purchased 25,05 % of QAZKOM common shares. As a result the Bank’s capital has increased by KZT 65,2 bn. This decision proves the ALMEX shareholders’ loyalty towards provision of the financial stability and future growth of QAZKOM within Halyk Group.
QAZKOM together with its Parent Bank (Halyk Bank) has launched the new consumer lending program. It consists of two components –
HomebankOrange, and enables acquisition of goods in installments by using credit cards of Halyk and QAZKOM.
QAZKOM and Visa have launched the
HomebankPay, mobile proximity payments solution, which is based on QR-technology. By using
HomebankPay the Bank clients will be able to pay for their purchases through scanning of QR-code, and merchants will start accepting mobile proximity payments without using POS-terminals, and it will make settlement procedures easier and less expensive.
Fitch has increased the long-term ratings of QAZKOM both in local and foreign currency up to «BB–», short-term ratings – up to «B», viability rating has been increased up to «b», support rating has been increased up to «3» level. The forecasts on the Bank’s both long-term and short-term ratings – «Stable». These rating activities have been followed by acquisition of 96,81% of QAZKOM common shares by Halyk Bank in July 2017 and increasing of the KKB capital by KZT 185 bn.
JSC Halyk Bank of Kazakhstan and QAZKOM have ensured viability of replenishing payment cards of their clients in the joint ATM network Halyk + QAZKOM for free.
QAZKOM has connected its Subsidiary Bank Moskommertsbank to the Faster money transfer system. The new service is available in six service points of Moskommertsbank - in Moscow, Saint-Petersburg and Kaliningrad. The Faster money transfers are accepted and paid via QAZKOM offices and its subsidiary banks, as well as via the network of partner banks servicing the “Golden Crown” and “Intel Express” money transfer systems.
As a result of the QAZKOM capital increase and joining to Halyk Group the S&P and Moody’s have increased its rating. The S&P has increased the long-term credit rating of QAZKOM up to «В+» from «B–», confirmed the short-term credit rating at the level of «В», and increased its rating on the national scale up to «kzBBB–» from «kzB+». The Moody’s has increased the credit rating of QAZKOM up to «B1» from «Caa2», and its deposit rating – up to «Ba2» from «B3».
The Halyk Bank of Kazakhstan JSC, the major shareholder of QAZKOM, has exercised its pre-emptive right and acquired 1 296 698 676 QAZKOM ordinary shares, pro rata with its share of 96,81%. By paying for the shares acquired, the Halyk Bank of Kazakhstan JSC has increased the QAZKOM capital by KZT 185 bn. The QAZKOM meets all NBRK capital adequacy ratio standards.
The Halyk Bank of Kazakhstan JSC and QAZKOM have started integration of their ATM networks: the additional cash withdrawal fees have been cancelled for cardholders of both banks in the ATM networks of both Halyk and QAZKOM starting from July 10. Now, there is no difference for both Halyk and QAZKOM clients when withdrawing cash from ATMs of both banks. As of 01.06.2017, the ATM network of Halyk Bank of Kazakhstan JSC had 2367 ATMs, and the ATM network of QAZKOM had 2292 ATMs.
Halyk Bank of Kazakhstan JSC has acquired the QAZKOM share packages owned by Mr. Rakishev K.Kh. and the National Welfare Fund “Samruk-Kazyna” JSC, and become the holder of 96,81% QAZKOM ordinary shares.
QAZKOM shareholders have decided to stop listing of the Bank GDR, which basic assets are the ordinary shares issued by the Bank at LSE, during the Extraordinary General Meeting of Shareholders and take all necessary measures for voluntary delisting.
BTA Bank has repaid its debt to QAZKOM in the amount of KZT 2,4 trn. The outstanding debt in the amount of KZT 64,8 bn. has been written off by QAZKOM against the reserves created. The funds, which were received from repayment of the debt, have been directed by QAZKOM for: repayment of the loan to NBRK (KZT 625 bn.), acquisition of the government treasury securities of the Ministry of Finance of the Republic of Kazakhstan (KZT 1 trn.), repayment of obligations on REPO operations with securities (KZT 202 bn.). The liquidity balance in the amount of about KZT 570 bn. will enable Kazkommertsbank JSC to serve its liabilities as scheduled, support its operating activities, and recover lending of the economy, SME and individuals.
Mr. Rakishev K. Kh., the major QAZKOM shareholder has bought back QAZKOM ordinary shares from the «Qazaq Financial Group» JSC, Mr. Subkhanberdin N.S. and «Central-Asian Investment Company» JSC. As a result, the direct share of Mr. Rakishev K. Kh. in QAZKOM has increased from 43,23% up to 86,09%. The «Qazaq Financial Group» JSC, Mr. Subkhanberdin N.S. and «Central-Asian Investment Company» JSC have completely quitted the Bank shareholders.
The major QAZKOM shareholders – Mr. Rakishev К.Kh. and the NWF «Samruk-Kazyna» JSC – have signed separate purchase agreements with «Halyk Bank of Kazakhstan» JSC. Under those agreements, Mr. Rakishev К.Kh. and the NWF «Samruk-Kazyna» JSC shall sell the blocks of QAZKOM shares owned by them to «Halyk Bank of Kazakhstan» JSC at the price of KZT 1 per each block. As soon as the transaction is concluded the «Halyk Bank of Kazakhstan» JSC will become the principal QAZKOM shareholder by holding 96,8% of its shares.
QAZKOM, at its own cost and expense, has repaid the subordinated Eurobonds, which were issued in June 2007 with the initial placement of USD 250 mln.
QAZKOM has connected Kazkommertsbank-Tajikistan CJSC, its subsidiary bank to Faster international money transfers. Today, the Faster international money transfers jointly with the “Golden Crown” and “Intel Express” money transfers has over 49 thousand service outlets and operates in 37 countries of the far and near abroad.
QAZKOM signed the Framework Agreement with the Kazakhstan Government, the National Bank of the Republic of Kazakhstan, JSC “Sovereign Wealth Fund Samruk-Kazyna”, JSC “Problem Loans Fund”, JSC “Halyk Bank”, JSC “BTA Bank”, and Mr. K. Kh. Rakishev. This Agreement has determined the order of completing a transaction on sale of the QAZKOM equity stake. The Agreement provides for acquisition of certain assets and claims from BTA Bank by the Problem Loans Fund, and also redemption of BTA Bank’s loan owed to within 2,4 trillion tenge. In addition, this Agreement envisages acquisition by Halyk Bank of shares in QAZKOM owned by Mr. Rakishev and Samruk-Kazyna, with a potential subsequent capital injection into QAZKOM by Halyk Bank.
The group of Assist companies has successfully completed the technical integration with QAZKOM. Any E-commerce enterprise striving to accept online payments in Kazakhstan can use the Assist services and payment solutions now.
QAZKOM has been recognized the winner of «Global Banking & Finance Review Awards – 2016» International Contest in the following two categories: «The Best Corporate Bank of Kazakhstan – 2016» and «The Best Internet-Bank of Kazakhstan – 2016».
QAZKOM has entered into a non-binding Memorandum of Understanding with respect to a potential acquisition by JSC Halyk Bank of Kazakhstan of a controlling interest in QAZKOM. The parties to the Memorandum of Understanding include, amongst others, the Government of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan, JSC Halyk Bank of Kazakhstan, JSC BTA Bank and Mr. Kenges Rakishev (being a major shareholder in QAZKOM).
QAZKOM has repaid its Senior Unsecured Debt of almost 400 million Euros issued in February 2007. Initial amount of the issue was 750 million Euros which decreased due to regular buy-backs as a part of effective liquidity management.
QAZKOM, as the main operator of five new special programs of Damu Fund, proceeds to lending to small and medium entrepreneurs in Astana and Almaty. From the total amount of KZT 5 bn. allocated by Damu Fund for the implementation of these programs, QAZKOM customers will receive about KZT 3.7 bn. Borrowings provided to the bank for the 7-year period for a fee and return basis. A feature of these programs have become new areas of support - "start-ups", innovation, scientific and technological solutions, as well as projects in the priority areas of the largest metropolises - processing and food industry, services and infrastructure.
Within the framework of the contest «Success has been guaranteed» arranged by Damu among the banks-participants of the guarantee program, QAZKOM became the winner in a special category «Breakthrough of the year» by demonstrating a three times increase in projects with the guarantees according to Y2016 vs. Y2015. Only during the last three months the Bank has issued more guarantees to small and medium sized entrepreneurs vs. the last three years.
Kazkommertsbank JSC has launched the joint project with Kazpost JSC within the framework of the «QAZKOM – open bank» concept. Now QAZKOM clients can open free “Svoboda” (Freedom), “Lutshi” (Best), «Pension» KZT deposits, and replenish their current, card and deposit accounts in 2688 regional Kazpost offices as well.
JSC Kazkommertsbank and Mr. Kenges Rakishev have entered into the preliminary negotiations with JSC Halyk Bank of Kazakhstan with respect to the potential transaction between KKB and Halyk Bank.
In the run up to the Worldwide Winter Universiade in Kazakhstan, QAZKOM started acceptance of JCB payment cards. Addition of JCB into the acquiring network of QAZKOM brings new sales opportunities both for QAZKOM and Japanese payment system by enabling payments in Kazakhstan for over 95, 6 million JCB card members. All JCB cards issued in 21 countries and territories will be accepted within QAZKOM’s network via the Discover Global Network throughout Kazakhstan.
QAZKOM has repaid its Senior Unsecured Debt issued in November 2006 for the original amount of US$ 500 million. The source of repayment was accumulated liquidity of the Bank without additional borrowing.
The International business edition BNE IntelliNews called QAZKOM "the most profitable bank in Kazakhstan" as of the end of 1H2016.According to the estimates of BNE IntelliNews analysts, QAZKOM by the results of the first half of this year shows the best rate of return on equity (ROE) - 27,11% - among the largest banks in the country.
Kazkommertsbank on the day of its 25th anniversary presented an updated retail brand QAZKOM. Three former variants of spelling of the name of the bank’s brand: Kazakh - Қазком, Russian - Казком, English - Kazkom – will be replaced by a single Latin graph embodiment in Kazakh language - QAZKOM. Also new format of the bank’s office was introduced, which will be the standard of quality and ease of customer service under the QAZKOM brand.
Standard&Poor's upgraded the long-term credit rating of Kazkommertsbank to "B-" from "CCC +" due to the improvement of its prospects. National scale rating upgraded to «kzB +» from «kzB-». The short-term rating of the bank was affirmed at 'C'. Improving of long-term credit rating of the bank associated with improved performance of its capitalization, which is due to a positive value of net profit received by the bank in the 1H2016
Kazkommertsbank and Diners Club launched franchise in Kazakhstan. Kazkommertsbank became the exclusive acquirer of Diners Club cards in Kazakhstan, as well as all of the cards issued by a global network of Discover Global Network, including the Discover Network card, Diners Club and PULSE. The bank will be also the exclusive issuer of Diners Club in Kazakhstan and start producing cards in 2016.
Kazkommertsbank in cooperation with Diebold first in Kazakhstan began installing ATMs with a full cycle of receiving and withdrawal of cash that allows a fully automated and closed circulation of cash in the ATM network of QAZKOM.
Kazkommertsbank has released the first in Kazakhstan electronic bank guarantee for participation in public procurement in the framework of the declared strategy of expanding innovative services for its customers. The service is available to customers through branches and remote banking system of legal entities - Onlinebank.kz.
Corporate Edition of Kazkommertsbank - KazkommertsNews recognized as best client magazine in 2016 on the basis of the IX Central Asian contest of corporate media, conducted as part of the XII International PR-forum.
The main shareholder and chairman of the Board of Directors of Kazkommertsbank Kenes Rakishev presented an updated strategy for the bank. Its key component is a large-scale reform of client service model, which should be maximally focused on customer needs, providing the most simple, convenient and fast service. The strategy also provides for an increase in the profitability of the core business and the transfer of the focus from corporate sector to servicing of small and medium-sized businesses and retail customers.
Kazkommertsbank launched a money transfer service through its own ATM network. Now the bank's customers can send money from their card account to any individual, even to those who do not have a bank card.
Kazkommertsbank and Kazpost agreed on a joint project to install postamates of Kazpost in the offices of Kazkommertsbank, where is organized twenty-four hours self-service area.
Visa and Kazkommertsbank for the first time in Kazakhstan launched a contactless payment service using the Android-smartphones with a chip. The project is based on technology Host Card Emulation (HCE), which allows with a special mobile application to create a digital copy of a payment card (or several cards) and to use NFC-smartphone antenna for contactless payments.
Kazkommertsbank and Visa organized the first Hackathon in Kazakhstan, devoted to technological projects in the area of banking services. Participated more than 50 teams of independent programmers and students of universities. Winners HackTeam, which proposed the use of project iBeacon technology for car lending and carrying automatic scoring. The prize was a trip to the USA with a trip to the Google offices, Facebook, Twitter, Stanford University and the University of California.
Kazakh-British Chamber of Commerce awarded Kazkommertsbank with the prize "Best M & A transaction in 2015 in the CIS market and successful integration of market-leading banks" for the high level of integration with BTA Bank.
In November QAZKOM became an exclusive partner bank of the EXPO-2017 exhibition which will take place in Astana. QAZKOM will create acquiring infrastructure and will open settlement and cash department in the territory of an exhibition, joint banking products will also be started.
In October QAZKOM started servicing through own network of POS terminals – the contactless payments registered by means of smartphones of the Apple company through a special application of ApplePay.
In September the updated version of Internet banking Homebank.kz, the number of the registered users d reached 600 thousand. QAZKOM became the exclusive Kazakhstan partner of the Booking.com company – the leading world service of online seat booking of accommodation.
In June of QAZKOM and BTA finished process of exchange of assets. BTA Bank handed over the license for implementation of banking activity. Banks announced a deconsolidation, thus the transaction, unprecedented in the history of Kazakhstan, on merging of two financial institutions was complete. QAZKOM became the largest bank of the country.
Кенес Ракишев стал крупным акционером QAZKOM.
31 марта Совет директоров QAZKOM принял решения по избранию новых руководителей Совета директоров и Правления.
QAZKOM и UnionPay International вышли на уровень стратегического партнёрства. Начато обслуживание карт китайской платёжной системы в сети банкоматов и POS-терминалов QAZKOM.
By December the mobile application of Internet banking QAZKOM Homebank.kz for Android was installed on the smartphones by over 100 thousand users. In general on the end of the year half a million users of service are registered.
In May Nurzhan Subkhanberdin, the chairman of the board of directors and the large shareholder of QAZKOM redeemed a packet in the amount of 9.77% of the placed common shares from the European Bank for Reconstruction and Development.
The number of the registered users of the Homebank.kz portal reached 500 thousand.
QAZKOM received the status of the basic member of an international payment system of UnionPay International.
The bank the first in the region started contactless payments by means of mobile phones together with an international payment system of MasterCard and began release of cards stickers for the bystrykh of contactless payments.
2014. In February consortium QAZKOM and Kenes Rakishev reached the final arrangement on acquisition of BTA of Bank, having created the largest universal bank in the region and having begun process of integration of two banks.
In August, 2013 QAZKOM provided the advanced and economic decision for acceptance by entrepreneurs for payment of payment cards – the mobile miniPOS POS terminal.
In July of the same year QAZKOM began the mass payment card issue of Visa Gold and MasterCard Gold equipped with function of contactless payments payWave and PayPass, respectively.
In June, 2013 QAZKOM and Visa announced the beginning of release of the Kazakhstan's first cards equipped with technology of contactless payments payWave.
In May, 2013 QAZKOM started the service Mobilebank for individual entrepreneurs and legal entities which allows to have to the access to accounts and transactions by means of the mobile phone.
At the beginning of 2013 the Bank successfully finished security audit of card payment systems and confirmed the compliance to the standard of information security of PCI DSS v.2.0 accepted by Visa Inc international payment systems., MasterCard, American Express.
Since 2012 Go credit cards! Card began to be equipped with technology of contactless payments MasterCard PayPass. Payment cards of Bank were noted by Visa as the most reliable for use abroad. QAZKOM was awarded by a cup of "Global Service Quality Highest International Approval Rate" which is awarded to the banks providing the best service and the smallest number of refusals when carrying out transactions with the Visa payment cards abroad.
Kazakhstan became one of the first countries where in 2012 Kazkommertsbank released debit payment cards of American Express Rewards Card. The corporate QAZKOM edition was acknowledged as the Best corporate newspaper of 2012 in Kazakhstan following the results of the V Competition of corporate editions held within the VIII International PR-forum.
The pilot group for implementation of proximity payment cards in the mass address is created, the first payment by means of the smartphone with use of NFC technology is made.
At the end of 2011 QAZKOM started the Homebank.kz mobile application for Android and iOS.
In October, 2011 the Bank celebrated the 20 anniversary. In 20 years of the activities of QAZKOM turned from small bank into one of the largest financial institutions in Kazakhstan and Central Asia.
May, 2011 was marked by the fact that, QAZKOM one of the first among the Kazakhstan banks performed the debut transaction in the post-crisis market of the debt equity on release of eurobonds on the amount of 300 million US dollars. The consulting company Brand Finance together with the The Banker magazine estimated the QAZKOM brand at 389 million dollars, thus, it became the most expensive brand among all Kazakhstan banks and took the 280th place in the rating of the most expensive bank brands of the world.
QAZKOM with the assistance of IBM corporation started the data-processing center constructed based on the server IBM Power Systems platform in Almaty. The new data-center is the first of three, located in more than 1200 kilometers from each other which are united in the katastrofoustoychivy decision and allow to work to information systems of Bank even in the conditions of natural disasters.
In 2009 the Alnair Capital Holding investment fund increased the share fraction of QAZKOM to 28,6%. Same year the Bank began project implementation on release of the proximity PayPass payment cards together with MasterCard and underwent the international certification. The number of the registered users of the Homebank.kz portal reached 200 thousand. The SMS banking service allowing clients to control the accounts by means of the mobile phone is started.
QAZKOM and its major shareholders signed with NWF of Samruk-Kazyna a packet of documents on implementation of the Memorandum of understanding reflecting the main conditions of participation of bank in the State stabilization program on maintenance of real production sector. In May, 2009 the NWF of Samruk-Kazyna acquired 21,2% of shares of QAZKOM within the State stabilization program.
The bank begins release of the Kazakhstan's first payment card "Unique as you!", which design her holders can independently choose. In December, 2008 QAZKOM began with the first of banks of the CIS issue of the elite MasterCard Platinum Diamond payment cards inlaid with diamonds and covered with gold.
In October QAZKOM was chosen by the Government of RK as the strategic partner for implementation of measures for maintenance of real production sector of the country. In 2008 QAZKOM brings the participation in Moskommertsbank to 100%. The private Arab investment fund Alnair Capital Holding becomes the large shareholder of bank.
In 2008 the bank begins release of the digital signature (DS), a digital analog of the sign manual. With the EDS clients got access to an expanded range of services of the financial portals Homebank.kz and Onlinebank.kz, namely to banking activities which require by the current legislation of the sign manual.
In December, 2007 opening of new Head office of QAZKOM near a complex of buildings of the Almaty financial center at which there was a head of state took place
In February, 2007 Kazkommertsbank acquires 52,11% of shares of Moskommertsbank, and in December of year in the Ministry of Justice of the Republic of Tajikistan the QAZKOM subsidiary bank with the authorized capital in US$10 million is registered. Next year it obtained licenses for implementation of banking activity in the territory of Tajikistan.
In 2007 the number of the registered users of the Homebank.kz portal reached 100 thousand people. As the exclusive partner and the issuer of American Express in the territory of Kazakhstan, the Bank started release and promotion in the Kazakhstan market of the bonus credit cards American Express Gold and The Platinum Credit Card from American Express, and further and the new credit cards Blue from American Express.
Kazkommertsbank starts new trademark – KAZKOM, having become closer and more clear to retail clients.
In 2006. The bank starts Internet banking for legal entities of Onlinebank.kz. Today the number of registered companies exceeds 14 thousand.
In November, 2006 QAZKOM became the first bank in the CIS which successfully finished primary public placement in the form of GDR on 845 million $ on the London stock exchange (LSE).
Completion of 2006 was marked by 15-year QAZKOM. The Bank celebrated the anniversary the concert of the legendary rock group Deep Purple which took place in Almaty.
2006. QAZKOM wins the eighth year in a row the nominations "Against the best bank in emerging markets: Kazakhstan", "The best bank in trade financing" and "The best bank in the foreign exchange market" following the results of an annual research of the international magazine Global Finance. QAZKOM also received a rank "The Best Bank of Kazakhstan" and from other world financial editions – Euromoney and The Banker.
In the end of the year of QAZKOM signed the agreement on a syndicated loan in 1,3 billion dollars, having imprisoned the largest among similar transactions not only in Kazakhstan, but also in all region of Central and Eastern Europe and the CIS. The authoritative international Trade Finance and Global Trade Review editions at the same time called it "the transaction of 2005".
In December, 2005 QAZKOM opened the Kazakhstan's first round-the-clock Center of bank self-service allowing his clients to operate with the money without participation of bank workers in Almaty.
In October, 2005 QAZKOM became the Kazakhstan's first commercial bank with versions of the website, equivalent on filling and functionality, in the state (Kazakh) language and in the main language of international communication (Russian).
In July, 2005 QAZKOM and ABN AMRO reached the agreement on sale to the company on management of pension assets and 80.01% of share in accumulation pension fund "ABN AMRO of Kaspiymunaygaz" (nowadays – JSC GRANTUM NPF).
In June, 2005 the EBRD delegated to QAZKOM all powers independently to direct process of financing of small and medium business within the special program of the EBRD. In June, 2005 the chairman of the board of QAZKOM Nina Zhusupova is awarded from the EBRD and Emerging Markets magazine of one of three awards "Woman in business and the government" in the region of Central and Eastern Europe and the CIS countries.
In May, 2005 QAZKOM received 60,04% of shares in the authorized capital of Moskommertsbank in trust management. Same month Kazkommertsbank issued the Kazakhstan's first international credit card with a possibility of accumulating of bonus bonuses – Go!Card.
In April QAZKOM became the first bank in the territory of the CIS which entered the new Dow Jones index for emerging markets (Dow Jones CDX.EM Diversified Index).
In January QAZKOM the first in Kazakhstan brought into operation ATMs (multibanks) possessing functions of acceptance of money (Cash-in), and also wire transfer of money between customer accounts and payment of accounts of providers of various services (municipal, communications, etc.).
Since July, 2003 the corporate QAZKOM "Kazkommertsnews" edition is monthly published. It leaves with a circulation of 35-40 thousand copies in the Russian and Kazakh languages, is distributed in all branches and departments QAZKOM across Kazakhstan and in large shopping centers of the republic for free.
Process of the international certification of cards of Bank for servicing in ATMs is complete. QAZKOM – the first in Kazakhstan – received the certificate of Visa on carrying out safe payments in electronic commerce (3-D Secure). One year later the similar certificate of MasterCard (SecureCode) was received. Today QAZKOM controls over 90% of the market of Internet acquiring in Kazakhstan.
2003. The EBRD signed with QAZKOM the Contribution agreement in capital stock and in subsequent redeemed 15% of the issued common shares of Bank.
In May, 2002 QAZKOM the first in Eastern Europe and the CIS began release and use of multifunction chip cards of the EMV standard.
From same year CB Moskommertsbank (LLC) (the former Interregional development bank of an entrepreneurship) acts as the authorized representative and the strategic partner of QAZKOM in the Russian Federation.
The bank the first in the country directly (without government guarantee) attracted a long-term loan for 7 years from German bank DEG, the international financial institution.
Same year release of the first virtual payment cards intended for payment of goods and services on the Internet is begun.
2000. The system of Internet acquiring E-pay is started. QAZKOM became the unique Kazakhstan commercial bank capable to accept and process transactions on payment cards of three largest international payment systems Visa, MasterCard and American Express of any bank on the Internet by means of the payment server.
Same year Homebank.kz Internet banking was started.
In May the Bank the first of the Kazakhstan corporate issuers issued eurobonds on the amount of 100 million US dollars and for a period of 3 years.
In 1997 QAZKOM was approved as the borrower by the German state-owned export insurance company "Hermes" which recognized as the borrower only the Government of RK before. In the same 1997. The bank attracted the first international syndicated loan.
In April QAZKOM began with the first of the Kazakhstan banks implementation of the tweening program financed by the EBRD and aimed at the accelerated institutional development which came to the end by 1999. The program passed with assistance of the French bank CCF (Credit Commerciale de France).
For the first time it has issued depositary receipts of Kazakhstan issuers - Kazkommertsbank. Raised funds in the amount of $ 50 million. Allowed to double the capital of the bank. Today QAZKOM - one of the best capitalized financial institutions in the country.
QAZKOM became one of the first Kazakhstan banks which received a complete international audit opinion from «Deloitte & Touche». Same year the Thomson BankWatch-BREE agency assigned to QAZKOM the international score – to the first of banks of Central Asia.
QAZKOM took active part in process of restructuring and privatization of the entities of an oil and gas industry of Kazakhstan as the official consultant of the Government of RK.
In April the Bank united with other Kazakhstan commercial bank – Astana Holding and found the branch network in all the main business and inhabited centers of the country now consisting of 152 operational departments in 23 branches.