Kazakhstan’s central bank has decided to revoke the licence of troubled lender Delta Bank and initiate the bank’s liquidation, the regulator said on November 3.
The central bank attributed the decision to Delta Bank’s repeated failure to make timely payments as well as its breach of regulatory ratios. Previously, the bank had its deposit licence stripped in May.
Delta is Kazakhstan's 14th largest bank. The bank’s assets amount to approximately $760mn.
S&P has downgraded Delta Bank’s long-term and short-term credit ratings from ‘CC/C’ to ‘D/D’ due to its failure to meet deadlines on payments.
The assets of the International Bank of Azerbaijan (IBA), the largest lender in the country, contracted by 28.9% y/y to AZN8.7bn ($5.1bn) in 2017, the state-controlled bank reported on January 10. ... ... more
Iran’s economy is starting to recover more rapidly from years of international sanctions but the country urgently needs to shore up its banks, a senior International Monetary Fund official told ... more
Kazakhstan’s Bank of Astana (Astana Banki) plans to conduct a secondary offering of shares (SPO) on the Moscow Stock Exchange, RNS news agency reported last week. Bidding will begin on December 14. ... more