The National Bank of the Republic of Kazakhstan extended the suspension of JSC Delta Bank's license to open new accounts and raise new deposits from individuals and corporate clients through Nov. 1.

The ban does not apply to servicing current deposits held at the lender, Delta said.

The regulator first suspended Delta's license in May after the bank failed to fulfill contractual obligations on payment and transfer operations and breached regulatory ratios several times over the previous 12 months. The suspension was later extended in June through Aug. 2.

As of July 1, the value of retail and corporate deposits held at the bank amounted to around 250 million Kazakh tenge and 85.6 billion tenge, respectively, with the bank's deposit portfolio constituting 0.5% of all deposits in the Kazakh banking sector.

Delta Bank said Aug. 1 that its board of directors acknowledged that the offering of its 3,350,000 ordinary shares to shareholders had failed. The bank wanted to sell the shares at 1,500 tenge apiece, hoping to raise 5.02 billion tenge.

As of Aug. 3, US$1 was equivalent to 335.14 Kazakh tenge.