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Several Kazakh banks punished for inaccuracies in advertising services

29.10.2020 26326
The Agency for regulation and development of the financial market in September this year, based on the results of the monitoring of advertising materials, took measures against four commercial banks.

Thus, Halyk Bank of Kazakhstan JSC and Bank CenterCredit JSC did not indicate the bank's license number and the name of the body that issued the license in the advertisement about banking services. Recommendation measures of supervisory response were applied to the second-tier bank.

SB Alfa-Bank JSC - failed to fulfill the obligation to indicate the interest rate in reliable, annual, effective, comparable terms, for which it was brought to administrative responsibility

SB Sberbank JSC - posted advertising material that did not correspond to reality on the day of its publication. The bank was brought to administrative responsibility.

The agency conducted the monitoring on the basis of documents and information submitted by financial institutions. It also took into account requests from individuals, legal entities and government agencies. In addition, it checked websites, social networks and mobile applications of banks, tracked advertisements on television and radio channels, public transport, periodicals, as well as outdoor signs," - said in the message.

Source: kazpravda.kz

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