The National Bank suspended the license to accept deposits from individuals, the opening of bank accounts of individuals of Qazaq Banki for the period until September 28, 2018 including

/KASE, July 31, 2018/ – The National Bank of the Republic of Kazakhstan (National Bank) published on July 31, 2018 on its website a press release with the following content: quote By the Resolution of the Board of the National Bank of the Republic of Kazakhstan No.150 of July 30, 2018, as of July 31, 2018, the license for accepting deposits from individuals, opening bank accounts of individuals of Qazaq Banki (hereinafter - the Bank) was suspended until September 28, 2018 including. This decision was taken by the National Bank within the supervisory response to certain violations by the Bank of the requirements of banking legislation on the bases provided for by subparagraphs c) and d) of paragraph 1 of Article 48 of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan" for a systematic (three or more times during twelve consecutive calendar months) improper performance of contractual obligations for payment and transfer operations and systematic (three or more times within twelve and consecutive calendar months) violation of prudential standards and (or) other mandatory norms and limits. The license is suspended for attracting new deposits and opening new bank accounts of individuals and does not concern servicing of existing deposits and customers of the Bank. As of July 1, 2018, the volume of deposits of individuals of the Bank is KZT22 bn., The share of the deposit portfolio of individuals of the Bank is 0.3% of the total volume of deposits of individuals of the banking system. unquote [2018-07-31]