OREANDA-NEWS. On July 25, 2008 Bank CenterCredit JSC (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the copy of Resolution # 109 of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) of  July 18, 2008 (Resolution), reported the press-centre of KASE.

According to the Resolution Kookmin Bank (Republic of Korea) was assigned the Bank CenterCredit JSC banking holding status and the status of the large participant of Accumulative Pension Fund Capital - Subsidiary of Bank CenterCredit JSC.

Resolution will be put into effect from the day of its signing.

We remind that on March 17, 2008, Bank CenterCredit JSC announced on acquisition of 30% stake in its capital by South Korea Kookmin Bank with further perspective of increase of its participation up to 50,1% or over.
 
According to the bank's information the initial investment will make up about KZT76 m. through combined purchasing of shares in existing shareholders and the issue of new shares to support further bank growth. In addition, it was assumed that after the initial acquisition, Kookmin Bank will increase its stake up to the control level (50,1% or over), or through purchasing additional shares, further investments (new issues), or through other combinations of such options.