Altyn Bank Receives Regulatory Order Over Risk Management Violations

The Agency for Regulation and Development of the Financial Market (ARDFM) has applied a supervisory measure to Altyn Bank in the form of a written order. This was reported by Qazaqyia.kz citing Kursiv Media.

The decision was made on July 2, 2026. According to information published on the regulator's website, the basis was deficiencies identified in the bank's activities regarding its risk management system.

The document states that the violations relate to the requirements of Articles 78 and 80 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities," as well as subparagraph 9) of paragraph 1 of Article 9 of the Law "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations."

The reference to subparagraph 9) of paragraph 1 of Article 9 suggests that the order may be related to issues concerning the bank's major shareholders. In particular, it may involve a situation where a major participant holding directly or indirectly 10% or more of voting shares appeared at the bank without the consent of the authorized body.

Another possible basis is the presence among major participants of a person registered in an offshore jurisdiction and not meeting the established credit rating requirements.

However, the ARDFM document itself does not disclose which of these circumstances led to the application of the supervisory measure. Neither the regulator nor Altyn Bank provided official explanations at the time of publication.

Altyn Bank was founded in 1998 as HSBC Bank Kazakhstan. In 2014, the bank came under the full control of Halyk Bank and changed its name.

Four years later, in 2018, Chinese investors – China Citic Bank Corporation Ltd. and China Shuangwei Investment Co., Ltd. – entered the bank's capital, jointly purchasing 60% of the shares. From that moment, the bank officially became a subsidiary of China Citic Bank Corporation Limited.

As of the end of 2025, the shareholder structure is as follows: 50.1% belongs to China Citic Bank Corporation Ltd., 40% to Halyk Bank, and 9.9% to China Shuangwei Investment Co. Ltd.

Read more about the composition of Altyn Bank's board of directors here.