“Currently, there are six banks that have participated in the financial stability program. This program has been approved by the National Bank in 2017. Then losses were revealed (for banks), a large level of distressed assets on the balance sheets of banks,” Abylkassymova said on the sidelines of parliament.
She noted that in order to create provisions for these problem loans, to recapitalize these banks, a financial stability program was adopted.
“The National Bank provided subordinated bonds. One-third was to be recapitalized by the shareholders. These bonds are now kept on the balance sheets of these banks: Eurasian Bank, Bank CenterCredit, Nurbank, RBC Bank, ATF Bank, and Tsesna Bank, which were merged with Jusan Bank. In addition, state support funds remain on the balance sheet of Halyk Bank, as a result of the transaction that took place on the acquisition of Kazkommertsbank,” reads the message.
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