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Kazakh regulator reinstates Delta Bank's license

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Kazakh regulator reinstates Delta Bank's license

The National Bank of the Republic of Kazakhstan fully reinstated JSC Delta Bank's license after the lender introduced a number of measures to improve the quality of its assets as well as risk management and internal control systems.

The regulator also said on Dec. 29 that Delta's shareholders committed to supporting liquidity and recapitalizing the lender.

The central bank suspended the licenses of Delta Bank and Kazinvestbank JSC at the end of October for three months, citing violations of banking legislation and the lenders' need to improve internal control systems, news website reported Dec. 29. The banks were banned at the time from raising new deposits and opening new bank accounts for individuals. Kazinvestbank's license was revoked earlier in December.