OREANDA-NEWS. On February 25, 2008 press service of Kazkommertsbank JSC (Almaty) that is a company, listed on Kazakhstan stock exchange's (KASE), provided KASE with the press-release of next contention, reported the press-centre of KASE:

Kazkommertsbank Kyrgyzstan OJSC, being a daughter company of Kazkommertsbank has disclosed some results of its activity over year 2007. Thus, growth of bank's assets made 30,7% over the last year, the shareholders' equity increased by 81,9%, and profit exceeded the similar indicator of 2006 by 148,2%.

At present time, the prevalent direction of activities of Kazkommertsbank Kyrgyzstan is crediting of small- and middle-sized business. Thus, 63% of all loan portfolio of the bank falls at small-sized business, that makes USD32.4 m. as of January 1 of 2008, 32% falls at corporate loans and 5% - at retail business. At that, growth rate of loan portfolio for small-sized business over 2007 totaled 78%.

As it is noted by Beybit Apsenbetov, a member of Board of directors of Kazkommertsbank Kyrgyzstan OJSC and executive director of Kazkommertsbank JSC, "competition in the banking sector of the republic is strengthening visibly as more and more new foreign players who have the opportunities to allocate the additional resources in their local daughter companies enter the market. Offering of a broad range of products and high quality system of risk management are also the factors of no small importance in the competition."

In addition to crediting, another banking product that is one of most in demand product in Kyrgyzstan is a charge card. And here, Kazkommertsbank Kyrgyzstan is an absolute leader, having a market stake equal to 69% by a number of issued cards. Furthermore, its stake on the market of merchants who service the cards totals 60%, and on the ATM market, it is 39% (all data as of the beginning of 2008).