OREANDA-NEWS. July 03, 2015. Kazkommertsbank JSC (Almaty), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release: JSC Kazkommertsbank ("the Bank" or "KKB"), one of the largest banks in Kazakhstan and Central Asia, today announces that it has transferred its controlling stake in BTA to KKB's major shareholders following the transfer of assets between the two banks and the revocation of BTA's banking licence.

As a result, BTA will not be consolidated in KKB's financial statements. Ms. N. Zhussupova, a member of KKB's Board of Directors, has resigned from BTA's Board of Directors, while representatives of KKB – Mr. A. Nabiyev, Ms. L. Satiyeva and Ms. A. Zhaparova – have left the Management Board of BTA.

In addition, other KKB employees serving on BTA's Management Board committees have left their respective positions.