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

"... Kazkommertsbank (KKB, Bank), one of the largest banks in Kazakhstan and Central Asia, informs on voluntary resignation of three managing directors: Mr. Baurzhan Kuvatov, Mr. Askarbek Nabiyev and Mr. Rustam Nabirov.

Mr. Baurzhan Kuvatov who supervised security and IT security in KKB moved to a position of an Advisor to the Chairman of the Board of Directors of BTA Bank (BTA) where he will continue to work on problem assets which had been transferred to BTA.

Mr. Rustam Nabirov, Managing Director who supervised the risk management in KKB, was invited by Mr. Magzhan Auezov, new Chairman of the Board of the Association of Financiers of Kazakhstan (AFK), to join the AFK. Mr. Nabirov has extensive experience which is important in promoting joint interests of the financial sector to elaborate systemic decisions on further development of the sector and to provide recommendations on anti-crisis programme to the Government and the National Bank of Kazakhstan.

Mr. Askarbek Nabiyev whoCFO of KKB, is considering several job proposals.

The Board of Directors and the Management Board of the Bank express their gratitude to colleagues for their contribution to the development of Kazkommertsbank and wish them success in their future endeavours".