trending Market Intelligence /marketintelligence/en/news-insights/trending/o_RK8DrhI9h6ZFSF3qs1Wg2 content esgSubNav
In This List

Kazakh regulator revokes Kazinvestbank's license

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Kazakh regulator revokes Kazinvestbank's license

The National Bank of the Republic of Kazakhstan revoked the license of JSC Kazinvestbank because of problems with the settlement of payments and money transfers.

The lender was placed under provisional administration until the appointment of a liquidation committee. The Kazakh Deposit Insurance Fund will pay out compensation for Kazinvestbank deposit holders of up to 10 million Kazakh tenge per person on local-currency deposits and up to 5 million tenge for foreign-currency deposits.

The central bank noted that the revocation of the lender's license will not threaten the stability of the Kazakh financial system given that Kazinvestbank's assets and liabilities amounted to 0.7% of the total in the country's banking sector, news agency Kazinform reported Dec. 27.

As of Dec. 27, US$1 was equivalent to 333.63 Kazakh tenge.