Qazak Banki suspended its license to accept deposits from the population

28 April, 2018, 15:38 526
Qazak Banki suspended its license to accept deposits from the population

It does not include servicing the current deposits and clients of Qazaq Banki, they said in the National Bank.

JSC Qazaq Banki suspended its license to accept deposits for individuals and open bank accounts of individuals. The decision was taken by the National Bank of the Republic of Kazakhstan.

The license was suspended from April 28 to July 27, 2018 inclusively.  

“The decision was taken by the National Bank as part of reaction to the violation of the requirements of the banking legislation on grounds specified in the sub-items в) and г) of the unit 1 of Article 48 of the law of the Republic of Kazakhstan “On banks and banking activity in the Republic of Kazakhstan” by the bank because of systematic (three and more times within 12 subsequent calendar months) improper fulfillment of contractual obligations on payments and transfer operations and systematic (three or more times within 12 subsequent calendar months) violation of prudential norms and (or) other obligations to observe norms and limits,” says the press release.  

The license to accept new deposits and to open new bank accounts of individuals and does not relate to servicing the current deposits and clients of Qazaq Banki was suspended, they said in the National Bank.

As of April 1, 2018, the volume of the deposits of the bank’s individuals accepted is 41 billion tenge. The share of individuals’ deposit portfolio of Qazaq Banki is 0.5% of the total volume of individuals’ deposits of the banking system.

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