Subsidiaries at 21 July 2009

21.07.2009

The Bank’s principal domestic subsidiaries and affiliates include:

Pension fund
		JSC Grantum APF. The Bank purchased its 80 per cent stake in JSC Grantum APF from ABN AMRO in 2005. JSC Grantum APF’s primary business is pension assets operations, including collection of payment contributions and ultimate payments. For further details, please, visit: www.grantum.kz.
Asset management company
		JSC OCOPAIM Grantum Asset Management is a 100 per cent subsidiary of the Bank, which is licensed to carry out pension fund investment management, investment portfolio management and broker dealer activities on the securities market.
Insurance companies
		JSC SK Kazkommerts-Policy. The Bank owns 100 per cent stake in JSC SK Kazkommerts-Policy, which primarily underwrites property and casualty insurance policies for retail and commercial clients while providing cross-selling opportunities for the Bank. For further information, please, visit: www.kkp.kz.
		JSC SK Kazkommerts Life is a 100 per cent subsidiary of the Bank. It was established in 2006 to provide life and annuity insurance. For further information, please, visit: www.kklife.kz.
Brokerage house
		JSC Kazkommerts Securities is a 100 per cent subsidiary of the Bank. JSC Kazkommerts Securities is engaged in investment banking and brokerage operations and is one of the major underwriters of corporate domestic bonds in Kazakhstan. For further information, please, visit: www.kazks.kz.
		East Kommerts Investment Company. Kazkommertsbank acquired 50 per cent stake in OOO “IC (Investment Company) East Capital” in 2007, which later changed its name to OOO “IG (Investment Group) East Kommerts”. OOO “IG East Kommerts” is a professional player on securities market, and is included into Top 10 investment companies of Russian Federation by the size of equity capital. For further information, please, visit: www.eastcom.ru.
Technical support companies
		LLP Processing Company. The Bank established 100 per cent subsidiary – LLP Processing Company in 2004, to provide clearing and settlement of payment card transactions.
Foreign bank subsidiaries
		LLP Moskommertsbank. The Bank owns 100 per cent stake in LLP Moskommertsbank. Though serving mostly corporate clients, LLP Moskommertsbank has a retail license, and in addition to its current presence in Moscow and St. Petersburg it has brancjes other cities in Russia such as. For further information, please, visit: www.moskb.ru.
		OJSC Kazkommertsbank Kyrgyzstan. Kazkommertsbank owns 93.58 per cent stake in OJSC Kazkommertsbank Kyrgyzstan, which offers both retail and corporate banking services. While initially focused on servicing the Bank’s clients doing business in Kyrgyzstan, in 2006, OJSC Kazkommertsbank Kyrgyzstan refocused on the domestic retail and SME segments. For further information, please, visit: kg.kkb.kz.
		CJSC Kazkommertsbank Tajikistan a commercial bank headquartered in Dushanbe and registered in December, 2007 as a 100 per cent subsidiary of Kazkommertsbank with chartered capital of US$ 10 million. In January 2008 Kazkommertsbank Tajikistan obtained the licenses for banking operations in national and foreign currencies issued by the National Bank of Tajikistan to the Kazkommertsbank’s subsidiary. Via its subsidiary in Tajikistan Kazkommertsbank will offer its clients in the country a wide range of services, gradually introducing a fully comprehensive product line subject to compliance with the requirements and regulations in the Republic of Tajikistan.
Finance subsidiaries
		Kazkommerts International B.V is a Dutch finance subsidiary 100 per centowned by the Bank, which since 1998, raised approximately US$3.05 billion through international loans and debt instruments.
		Kazkommerts Finance II B.V. is a 100 per cent Dutch finance subsidiary of the Bank. In November 2005 Kazkommerts Finance II B.V. raised US$100 million through the issue of perpetual notes in the international capital markets. In 2006 raised US$200 million subordinated Eurobonds due 2016.
		Kazkommerts Capital II B.V. is a 100 per centowned Dutch finance subsidiary of the Bank, established to raise additional funding for the Bank group.