Establishment and development milestones

1997	December Foundation of the Company. Registered as a state organization “The economic and social development Fund of Akmolinskaya special economic zone”
1998	April The Company was incorporated. The Company was registered as the Closed JSC «The Fund Akmola"- non-bank financial organization, implementing some of bank financial operations. The sole proprietor of  the Closed JSC  "The Fund Akmola"- The Administrative Council of Free Economic Zone of Astana city. July The Company obtains the state license of the National Bank of the Republic of Kazakhstan to perform bank operations in national currency of tenge.   October The Company obtains the state license No. 25 of the National Bank of the Republic of Kazakhstan to perform bank operations in foreign currency
1999	February The Company obtains the state license of the Agency on registration of property and business entities of the Ministry of Justice of the Republic of Kazakhstan  № 0000058 to implement the activity related to the  valuation of property May The Company became the member of Association of financiers  of the Republic of Kazakhstan August Re-registration of the Company into JSC “Astana Finance”
2000	January The Company stocks were listed in KASE under the category  "В" June The shareholders of the Company were over  500 people 1998-2000  The auditing company is Closed JSC "Arthur Andersen"
2001	May The Company made a repayment of the non-state foreign debt attracted under the state guarantee of the Republic of Kazakhstan in amount of USD 8 000 000 (Eight million). May The Company’s stocks were listed under the "А" category at KASE. June The National Commission on securities of the Republic of Kazakhstan had registered the first issue of Notes of JSC “Astana Finance”. The issue at the nominal value of $100 was $10000000. Maturity is 2 years. July The decision of the Management Board of KASE based on the decision of the Stock Exchange Council the registered coupon bonds of JSC “Astana Finance”" of the first issue and included into the listing of KASE under "А" category. July In Atyrau city the subsidiary of the Company has been established and the affiliated company  JSC “Atyrau Nedvizhimost” which undertakes the functions of The General Construction Company  under the State Mortgage Lending and Residential Construction Program. October  Moodys Investor Service Agency announced the rating of JSC “Astana Finance” Ва3 (stable outlook). A underlined by the Moodys, the rating is based on the important role that  JSC “Astana Finance” brings into development of new capital of Kazakhstan, Astana.
2002	July Confirmation of Ва3 rating (stable outlook) by the Moodys Investor Service. December The Decision  №518 of the Management Board of the National Bank of the Republic of Kazakhstan JSC “Astana Finance” was recognized as the first class issuer of bills and listed among the high class issuers of bills for the period of one calendar year.
2003	April The credit agreement with Saxon Bank for the project “Construction of a brick producing facility amounted to 4 million euros. May The start of the project on the leasing of agricultural machines and equipment. The credit agreements with the German Bank "Bankgesellschaft Berlin" at the total sum of 8 520 thousand euros. July The Company become a member of the automobile consortium "Kazakhstan-KAMAZ", the main purpose of which was development of production and sale of "KAMAZ" automobiles in the Republic of Kazakhstan. July The Company at full capacity has fulfilled its obligations on repayment of the first issue of registered coupon bonds at the amount of USD 10 million. December Rediscounting exposure of bills was increased to 350 million tenge. December The beginning of placement the mortgage securities of the Company at the amount of 1 billion tenge.
2004	March Open JSC “Astana Finance” in accordance with the law  "About joint stock companies" dated 13 May 2003 № 415-II amended and revised dated 29 November 2003 № 500-II has been re-registered to the JSC “Astana Finance”. May Issue of corporate bonds at the amount of KZT 2,0 billion. September The agreement with the Closed JSC "The guarantee (insurance) of mortgage loans". September The Company branches were opened in Karaganda, Kokshetau September Commissioning the plant on production of aerated concrete construction materials   September Under the decision of the International Fund’s Management Board (Switzerland, Geneva) the Company was awarded the gold medal "For high quality of business". October Under the decision of the "Aquarius Earth maker" Company (Malta), JSC “Astana Finance” nominated as  "The leader of business". December The increase by the National Bank of the Republic of Kazakhstan for rediscounting the bill limit to KZT 400 million. December The decision of the shareholder’s Meeting to increase shares by 1,5 million pieces.
2005	January The registration  in the State Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organizations of the first issue of notes by JSC “Astana Finance” January JSC “Astana Finance” has become one of the founders of LLP «NEOBUS", the main business of which would be production of passenger vehicles with large and small carrying capacity using “KAMAZ” chassis.    January Bonds of the firth issue were listed in the official listing at KASE under category "А" in accordance with a simplified procedure of listing under the code ASFIb5. February The Company registered the firth issue of bonds in the State Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organizations. February The Company became a member of LLP “The first credit bureau”. February The Company acquired 100% share in LLP "The horse-sport club "Kulagher". March The Company acquired a share in JSC "AREK" in amount of KZT 50,4 million. April The second issue of corporate bonds were redeemed.   May Dividends were paid off as a result of the year. June The issue of subordinated bonds was implemented under the second bonds issue program in amount of KZT 8 billion.   September The third program of bonds issue placed in amount of KZT 10 billion.   September The share in equity of JSC “Atyrau-Nedvizhimost” acquired October The decision of the Management Board of the National Bank of the Republic of Kazakhstan №129 dated 18.10.2005 the rediscounting limit of bills had been increased from KZT 400 million to KZT 1 billion. December The rediscounting limit of bills had been increased from 1 billion to 2 billion tenge.

2006                           2007

January Registration of a subsidiary Astana Finance B.V. in Netherlands. February Debut of JSC “Astana Finance” at the international stock market and the first issue of Euro notes of USD 125 million. March License for broker and dealer operations at the market of securities with a right to manage the client accounts as a nominal holder. April License for investment portfolio management.   August License for bank operations. JSC “Astana Finance” is the member of KASE. September Registration of the first closed shared risk investment fund “Astana Finance Altyn". November Registration of a subsidiary company JSC "Brokerage Company "Astana Finance" in the Regional Financial center of Almaty city. November Registration of a share fund "Astana Finance Bereke". November The Agreement for acquisition of the majority stake in JSC “Alfa Bank Bashkortostan”, Ufa, Russian Federation. November The Issue of euro notes at the amount of USD175 million. December Acquisition of stake in equity of JSC “Astana Gas Service”, LLP “Kumis Kaskyr”, JSC “Akzhayk-Nedvizhimost”.        January  JSC «Brokerage Company «Astana Finance» licensed to brokerage and dealer business at the stock market.  February The decision of the Expert Council at the special trading floor of the Regional financial center of Almaty city (RFCA) dated 22 February 2007, stocks and bonds of JSC “Astana Finance” were listed in RFCA. February  The Board of Directors approved the market management strategy, and also the Concept of promotion the umbrella brand in all spheres of the financial services.  March The awarding ceremony by the «Euromoney» magazine in nomination «Leading institute in corporate management».  March  JSC “Astana Finance” was nominated to the 2d position in the «The fast growing investment bank» and «The domestic market of bonds as per the underwriting of Kazakhstan issuers of bonds» under the conference of the «CbondS» Information Agency, based on the volume of the issued bonds and its placement in the domestic market.    March Notes placed by   JSC “Astana Finance” in the US market:  8,5 billion Japanese yen; 10 million euro; USD 70 million.  May  JSC “Astana Finance” has possessed 99,84% shares of JSC  « Alfa Bank Bashkortostan », for that reason the bank was renamed to «AF Bank».  June   JSC “Astana Finance” had completed its placement of euro notes under the Global Medium Term Note in amount of 300 million euros with maturity of 3 years. December JSC “Astana Finance” celebrated it’s the 10 year anniversary financial business founded as the first financial institute for development of social infrastructure of the capital city. December JSC “Astana Finance” was awarded the people’s quality distinction award «The Company of immaculate business». The League of consumers of Kazakhstan nominated this award to attract people’s attention to creation of transparent and reliable market.