/KASE, November 18, 08/ - Kaspi Bank (Almaty), securities of which are traded
in the official list of Kazakhstan Stock Exchange (KASE), provided KASE with the
press release informing on introduction of a new brand:
Quotation start
The new image of kaspi bank may be easily named the most innovative not only
in Kazakhstan, but among the CIS as well. The new name is based on the name
of the bank in Kazakh - Kaspiy Banki. Now, the new name - kaspi bank - is easy
to read and pronounce in Kazakh, Russian and English.
Change of image and name - is a logical step in the exceeding 15 years history
of Kaspi Bank. Two years ago international investors in person of the leading
international fund for direct investment Baring Vostok Capital Partners invested
in the bank, a new management team was shaped, the best technologies were
implemented, over USD400 m. was invested and raised, a new business model
and unique products for population were developed. These happened within the
frames and under name of Caspian Bank. After thorough study of perception of
the former brand by bank clients, a decision on creation of an innovative and
dynamical brand aiming at clients and rooting from the former name, combining
deep country traditions and fundamental human values was made.
- Our investors and management believe in the prospect of business
development and see Kazakhstan financial sector as very attractive, - announced
head of the bank Mikhail Lomtadze. - We think there is no better time than now
to invest in business, as rivals can not afford it. During the last two years, we
have invested more than USD10 m. in modernization of bank technologies and
development of new products. Alongside with the brand we are launching a unit
established in accordance with our new standard using last developments and
technologies. Next week we are launching a unique innovative product - mass
revolving credit card. One of the most important qualities of the product is a
flexible maturity schedule and small monthly payment. This feature of the product
is especially important for our clients amidst the current situation.
Quotation end
The full version of the Kaspi Bank press release is available at the KASE website
at:
http://www.kase.kz/files/emitters/CSBN/csbn_reliz_181108.pdf
[2008-11-18]