Kazkommertsbank AO : Online operations with deposits are turning to a trend

10.02.2017

Almaty, 10 February, 2017 - According to Y2016 results, the new services such as opening of deposits via Internet and Online 24-hour operations on deposits of individuals have demonstrated the largest growth dynamics compared to other Qazkom products. The number of new deposits opened in the Bank's Internet portal (Homebank.kz) have been doubled, and the number of transactions on replenishment and withdrawal of funds from the deposits has demonstrated an 18 times increase by the Y2016 end compared to January of 2016 and equaled about 203 thousand.

The Bank has estimated a three times increase in such operations for the current year as Qazkom depositors can replenish and withdraw their funds from the deposit in a 24/7 mode starting from October of 2016.

Nurlan Zhagiuparov, a Qazkom Managing Director said: «Managing own funds online is turning to a trend. We can see the melting queues in the Bank offices. People often need money on weekends or during off hours, when the banks are closed. Thus, the possibility to withdraw or replenish the deposit in the 24/7 mode has almost immediately become popular among the transactions performed through Homebank.kz».

As soon as the 24/7 mode was implemented on operations with the deposits performed via Homebank.kz, the number of replenishments/withdrawals has immediately increased by half - up to 27 577 transactions in December, where 15 392 of these transactions are the deposit replenishments, and 12 150 of the transactions relate to partial withdrawals.

Mr. Zhagiparov added: «For its part, the Bank is trying to provide its clients with security and comfort when controlling their savings, and keep them away from potential fraudulent activities. Now, it is important for us to determine the optimal convenience and risk ratio, and develop relevant banking procedures».

Currently, the Bank clients can withdraw cash from their deposits via Homebank.kz with the prior nonrecurring authorization via ATM - up to KZT 1 mln. within 24 hours, without any authorization - up to KZT 300 ths. within 24 hours.

The Online operations related to opening and replenishing of deposits totaled KZT 9,5 bn. during December of 2016; the fund withdrawals from deposits via Internet banking - KZT 2,2 bn. In January of 2017 these indexes have been KZT 6 bn. and KZT 2,5 bn. accordingly.
For now, this service is available only in Qazkom. The Bank has launched it within the framework of the new business strategy, which was announced in May of 2016 by

Kenes Rakishev, the Principal Shareholder and targeted at increasing convenience, high quality and speed when providing services to clients. Most routine banking operations can be performed by Qazkom clients remotely, via Internet and Mobile banking, as well as via the extended network of ATMs and POS-terminals. Implementation of this strategy has resulted to deep qualitative modifications in the level of providing services to Qazkom clients, which seriously decreased the time required for providing services to clients and queues in the Bank offices (maximum waiting time - 7 minutes).

For enquiries:
Larissa Kokovinets, PR Director, Kazkommertsbank JSC
[phone]
e-mail: [e-mail]