National Bank of Kazakhstan suspends Delta Bank’s license
"The NBK Management issued Order No. 78 dd. May 18, 2017 to suspend the license of Delta Bank JSC for taking deposits and opening accounts for persons and entities for the period from May 22 through June 15, 2017", the message says.
The National Bank made this decision in response to violation of the banking legislation requirements by the bank and the necessity to improve internal control as specified by Article 48 Kazakhstan Law "On banks banking activity in the Republic of Kazakhstan" in terms of systematic (for 3 or more times within 12 consecutive calendar months) inappropriate fulfillment of contractual obligations on payment and remittance operations and for systematic violation of prudential standards and (or) other mandatory standards and limits.
The suspended license refers to new deposits and new bank accounts but is not for servicing the current deposits and clients of the bank.
As of 1st May 2017, Delta Bank's deposit amounts of individuals and entities equal to KZT0.6bn and KZT115.7bn respectively. The share of the bank's deposit portfolio is 0.7 per cent of the total deposits of the banking system.