License withdrawn from AsiaCredit Bank
In accordance with the resolution of the Agency's board dated February 11, 2021, No. 22, AsiaCredit Bank was deprived of the license to conduct banking and other operations and activities in the securities market," reads the statement.
The license was revoked due to systematic violation of prudential standards and failure to comply with supervisory response measures, failure of a large bank participant to comply with the requirements of the authorized body for additional capitalization.
As of the date of revocation of the license, AsiaCredit Bank's assets amounted to T45bn, loan portfolio - T45bn, including T32bn, or 70% of the bank's loan portfolio is represented by non-performing loans overdue for more than 90 days. The size of the bank's liquid assets is KZT75 mln, and unfulfilled customer payments exceed KZT8 bln.
Source: KazTAG
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