Baku, Azerbaijan, Nov. 3
By Ali Mustafayev – Trend:
The National Bank of Kazakhstan revoked Delta Bank's license to conduct banking and other transactions and carry out activities in the securities market, the National Bank's press service said in a message Nov. 3.
The decision was based on Delta Bank's inadequate execution of contractual obligations in payment and transfer operations, as well as systematic violation of prudential standards and other restrictions.
The National Bank of Kazakhstan appointed an interim administration in Delta Bank, which will function until the appointment of a liquidation commission by the court.
Delta Bank was founded on Sept. 1, 1993 in the Aktau City of Kazakhstan, initiated by large oil and gas companies in Western Kazakhstan.
The bank had 11 branches in Western Kazakhstan and a number of regional partners, including Sberbank, Svyaz-Bank, Raiffeisenbank and UniCredit Bank.