August 10, 2017 / 1:05 PM / 10 months ago

Kazakh cenbank to inject up to $3.0 bln in local lenders' capital

ALMATY, Aug 10 (Reuters) - Kazakhstan’s central bank said on Thursday it would inject 0.6-1.0 trillion tenge ($1.8-3.0 billion) into capital of local banks to help them write off bad loans if the banks’ shareholders also help to bail out their lenders.

For every tenge injected by shareholders, the central bank would provide twice as much by purchasing banks’ subordinated bonds, Olzhas Kizatov, head of the banking sector supervision department at the Kazakh central bank, told reporters. (Reporting by Mariya Gordeyeva; Writing by Olzhas Auyezov; Editing by Andrey Ostroukh)

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