OREANDA-NEWS. December 15, 2011. Kazkommertsbank, one of the largest banks in Kazakhstan and Central Asia, announces today that the Board of Directors of the Bank has appointed Mr. Rustam Nabirov as a new member of the Management Board responsible for risk management, reported the press-centre of Kazkommertsbank.

Rustam Nabirov, 34, graduated from Kazakh State University n.a. Al-Farabi with a degree in international economic relations. He received his MBA from Emory University in USA. In 2001-2004 Mr. Nabirov worked as credit analyst in ABN Amro Kazakhstan. He joined Kazkommertsbank in 2004, since then he held various senior positions in corporate banking. In 2010 Mr. Nabirov was appointed as a Director of Risk Management Department.

The Bank will apply to the regulator for all necessary approvals for new member to the Management Board in accordance with the established procedures and existing legislation.

About Kazkommertsbank
Kazkommertsbank (KKB) is one of the largest banks in Kazakhstan and Central Asia with total assets of KZT 2,673.8 billion (USD 18.1 billion equivalent) at 30 September 2011.

In addition to its core banking business (retail and corporate) KKB has subsidiaries active in pension fund management, asset management, insurance and brokerage. KKB also has foreign subsidiaries in the Russian Federation, Kyrgyzstan and Tajikistan.

Major shareholders of Kazkommertsbank include Central Asian Investment Company and Chairman of the Board Mr. Nurzhan Subkhanberdin, Alnair Capital Holding, the Kazakh Government through the Samruk-Kazyna National Welfare Fund and the European Bank for Reconstruction and Development.

KKB’s predecessor, Medeu Bank, was founded in July 1990, and re-registered as Kazkommertsbank in October 1991. KKB completed an IPO in GDR form on the London Stock Exchange in November 2006, the first CIS bank to do so, in a deal totaling USD 845 million. The Bank’s shares are listed on the Kazakhstan Stock Exchange.

Further information can be found at http://en.kkb.kz.