BNK Commercial Bank injects 4.7 billion tenge amid regulatory pressure
BNK Commercial Bank in Kazakhstan is set to increase its capital by 4.7 billion tenge. The decision follows a directive from the financial regulator regarding the bank's losses. The bank remains the only loss-making institution in the country.
Capital Injection Details
BNK Commercial Bank plans to issue 468,889 shares at 10,000 tenge each, as per corporate disclosures. The capital increase will be executed within 30 days of the application. The sole shareholder will purchase the shares through preemptive rights.
Regulatory Concerns
The Agency for Regulation and Development of Financial Market (ARDFM) highlighted the bank's 1.7 billion tenge loss over 11 months. BNK's capital was 314 million tenge below the required 10 billion tenge threshold. Despite not mandating recapitalization, ARDFM stressed the need for compliance.
What's Next
The recapitalization process is expected to conclude within a month. It remains uncertain if BNK will achieve compliance with capital requirements.
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BNK Commercial Bank injects 4.7 billion tenge amid regulatory pressure
