Licenses of two banks suspended in Kazakhstan
Baku, Azerbaijan, Nov. 8
By Elena Kosolapova – Trend:
Kazakh National Bank suspended the licenses of two commercial banks for attraction of individuals’ deposits and opening of individuals’ accounts, said the bank’s message.
The licenses were withdrawn from KazInvestBank and Delta Bank for a period of 3 months.
The decision to suspend the licenses was made following violations of banking legislation requirements by these banks, and the need to improve their internal control systems.
The suspension of licenses will not affect the maintenance of existing deposits. The banks are also allowed to attract new deposits from legal entities.
The volume of individuals' deposits in KazInvestBank hit 16.4 billion tenge (339.99 tenge = $1) as of October 1, 2016. The volume of individuals’ deposits of Delta Bank hit 11.5 billion tenge.
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