Eurasian Bank selected as bank agent for payment
of guaranteed compensation to Bank of Astana depositors
Press Release, ALMATY, January 10, 2019
The Kazakhstan Deposit Insurance Fund selected Eurasian Bank (hereinafter — the Bank) as agent for payment of guaranteed compensation by deposits, current and card accounts of natural persons and individual entrepreneurs, placed with Bank of Astana under liquidation.
Euraisan Bank is amongst top ten Kazakhstan second-tier banks by amounts of assets and equity, the largest player in the retail lending market: the 4th one in terms of the retail loan portfolio. In November 2018, the Standard & Poor’s Global Ratings international credit-rating agency confirmed the B/B long-term and short-term ratings of Eurasian Bank. The Bank branches are located in all the regions of the country; at present, the Bank network has 126 branches and outlets throughout Kazakhstan.
«We are grateful to the Kazakhstan Deposit Insurance Fund for the confidence and confirmation that Eurasian Bank meets the criteria set by the KDIF agents: a stable financial position, no violations of prudential standards, presence of a developed branch network in the country. For our part, we pledge to do everything possible for the convenience of customers, and offer them several options for the refund”, noted Mr. Pavel Loginov, CEO of Eurasian Bank.
Natural persons and individual entrepreneurs shall be entitled to reimbursement of money placed on deposits, current and card accounts with Bank of Astana. Reimbursement will be paid within the amount of the accounts balance, but not more than the maximum guaranteed amount:
- 10 million tenge — by deposits in tenge,
- 5 million tenge — by deposits in foreign currency.
The cumulative compensation of up to 15 million tenge shall be paid under one depositor’s multicurrency deposit placed with Bank of Astana simultaneously in tenge and foreign currency, at that under the deposit in foreign currency — not more than equivalent of 5 million tenge.
The Kazakhstan Deposit Insurance Fund using the special reserve funds will fully provide Eurasian Bank with money to pay compensation to Bank of Astana depositors.
Please note that the amount of compensation is determined by the liquidation commission of Bank of Astana and is agreed by the Kazakhstan Deposit Insurance Fund, taking into account the maximum guaranteed amount and the depositor’s loan obligations.
Acceptance of applications from Bank of Astana depositors shall start on January 26, 2019 and last until July 26, 2019. Until this date, Eurasian Bank is not entitled to accept applications and pay guaranteed compensation.
The detailed information about the terms of payment of compensation will be published by the Bank later, closer to the beginning of payment of compensation.
About the Bank
Eurasian Bank is a socially important commercial banks of Kazakhstan with a 24-year history of development. The financial institution occupies a leading position in the retail banking business and provides a wide range of services to corporate and SME clients. The Bank is actively developing auto lending, POS-lending, payment card channel, mobile banking and payroll projects.
Eurasian Bank PR Service:
+7 (727) 259-95-99, Ext. 3453
eubank.kz