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KNG Finance LLP., a banking and insurance holding, announces that audit company KPMG Audit LLP. has completed an audit inspection of its 2014 consolidated financial statements.

KNG Finance LLP., a banking and insurance holding, announces that audit company KPMG Audit LLP. has completed an audit inspection of its 2014 consolidated financial statements.
Consolidated financial statements have been prepared subject to the International Financial Reporting Standards (IFRS) and incorporates data of financial reporting of all subsidiaries of the Company.
2014 consolidated financial statements of the Company is released in the Yuridicheskaya Gazeta (Legal Newspaper) dated 14 October 2015 No. 152(2912)

KNG Finance LLP., a banking and insurance holding, announces that audit company KPMG Audit LLP. has completed an audit inspection of its 2013 consolidated financial statements.

KNG Finance LLP., a banking and insurance holding, announces that audit company KPMG Audit LLP. has completed an audit inspection of its 2013 consolidated financial statements.
Consolidated financial statements have been prepared subject to the International Financial Reporting Standards (IFRS) and incorporates data of financial reporting of all subsidiaries of the Company.
2013 consolidated financial statements of the Company is released in the Yuridicheskaya Gazeta (Legal Newspaper) dated 12 September 2014 No. 137(2705)

“Alliance – Life Insurance” Insurance Company JSC announces a change of its name

             On 31.03.2014 “Alliance – Life Insurance” Insurance Company JSC changed its name to Grandes Life Insurance Company JSC.This renaming decision was made by a sole shareholder of the Company – KNG Finance Ltd. – within its new strategy approved for 2014-2018.     The Company has defined its logo as “Protecting fragile side of life”. These words were not a random choice, they contain deep meaning and offer its client to opt for Grandes Life Insurance Company JSC as a reliable defender that values life as a fragile material.          “This new milestone in the development of the Company as a financial institute of the Republic of Kazakhstan is the first step towards the set goals. Our task  is  to  gain a  reputation  of a  sustainable and independent brand that provides financial protection for the whole family,” CEO Gulnara Alimgaziyeva has expressed her view.

KNG Finance Became the Only Shareholder of “Alliance Polis” IC” JSC

“KNG Finance” LLP announces it has purchased 11,8682 per cent of voting shares in “Alliance Polis” IC” JSC from “Finance Trading” LLP. The stake of “KNG Finance” LLP in “Alliance Polis” IC” JSC currently became 100 per cent. The increase of shares of KNG Finance in Alliance Polis up to 100 per cent is a part of company’s strategy to become one of the key players on the financial services market.

KNG Finance Became the Only Shareholder of “Alliance – Life” IC” JSCхование Жизни»

“KNG Finance” LLP announces it has purchased 6.8514 per cent of voting shares in “Alliance – Life” IC” JSC from “Finance Trading” LLP. The stake of “KNG Finance” LLP in “Alliance-Life” IC” JSC currently became 100 per cent. The increase of shares of KNG Finance in Alliance Polis up to 100 per cent is a part of company’s strategy to become one of the key players on the financial services market.

Announcement of Completion of Transaction on Purchase of ATFBank

KNG Finance and UniCredit Bank Austria announced they completed transaction on purchase of 99,75 per cent share in Kazakh ATFBank. The total cost of the transaction equals to the net equity of the ATF Group. The National Bank of Kazakhstan approved the transaction on 29 March 2013.

Mr. Romeo Collina, the CEO of ATFBank till 30 April 2013 noted that UniCredit took decision to sell its Kazakh subsidiary in line with its strategic plan to optimize business in Central and Eastern Europe.

“ATFBank is a stable financial institution reputable among clients. We are especially proud of assembling a very strong and highly professional team of managers who are the most valued asset of the Bank. We strongly believe that the new owner will strengthen the success of ATFBank and will both continue offering the same range of services as before and develop new products. The Bank will also continue to invest in new products and the whole team is fully committed to even improve the quality of customer care that clients have always enjoyed” – Mr. Collina said.

Mr. Anthony Espina, Member of Supervisory Board, thanked the management team for building an efficient organization.

“The corporate governance, transparency, policies and procedures of ATFBank are in compliance with best Western practice and the team is composed of highly-qualified managers and specialists. Today ATFBank is among Top-5 largest commercial banks in the country. We are committed to developing the Bank and financial services in Kazakhstan ultimately for the benefit of the country’s economy. ATFBank will keep and improve its strengths including staff, quality and attractiveness of products and services, network and technologies”, — Mr. Espina said.

Alliance Life Insurance Company Obtained Rating from Expert Kazakhstan Rating Agency

Expert RA Kazakhstan rating agency has assigned Alliance Life insurance company the reliability rating at the level A «High Level of Reliability».

Positive impact on the rating of the Company was caused by an active gain of number of clients on annuity insurance and obligatory insurance of the worker upon accidents at execution of labor (office) duties following the results of 2012, a small share of expenses on maintaining contracts of insurance and rather high reliability of reinsurance protection. In addition the
Company has a diversified portfolio of investment tools and its acceptable reliability and liquidity.

Among the factors constraining the level of the rating, there are low indicators of profitability, high concentration of the insurance portfolio on one type of insurance, weak diversification of reinsurance protection and channels of sales.

«The obtained rating confirms intention of the Company to pursue a transparent policy on the market of financial services, its openness and availability to each client. It should be noted that capital support at demanded level established by regulatory body, active work and professional team will allow developing of the Company’s business effectively». — the Chairman of the board of the company Gulnara Alimgaziyeva noted.