OREANDA-NEWS. Kazkommertsbank (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release:

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JSC Kazkommertsbank (KKB, the "Bank"), one of the largest banks in Kazakhstan and Central Asia, announces further changes to the Management Board of the Bank. Mr. Sergey Yeltsov has been appointed as a Managing Director of the Bank, while Mr. Alen Shayakhmetov, Managing Director of the Bank, resigned from the Management Board effective from 30 May 2016.

Mr. Yeltsov will supervise legal, compliance and HR functions as well as corporate secretary service. Prior to KKB, Mr. Yeltsov held positions of CEO at JSC Investment Fund of Kazakhstan, Deputy CEO at JSC BTA Bank, Managing Director at JSC Alliance Bank, and other key management positions in a number of companies in financial and industrial sectors.

Mr. Abay Iskandirov, acting CEO of the Bank, commented:

"We invited Mr. Sergey Yeltsov to join our team to supervise KKB's legal function as well as to support initiatives of the Bank in the international area. I believe that Mr. Yeltsov will use his expertise in areas he has been entrusted with".

Mr. Iskandirov has also expressed gratitude to Mr. Alen Shayakhmetov for his contribution to the development of the Bank. Mr. Shayakhmetov will continue to work in KKB as an Advisor to CEO.

"We are glad that Mr. Shayakhmetov has accepted invitation to continue working with KKB, and we are confident that his extensive experience and expertise will be demanded in his new capacity".

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