JSC "Nurbank" did not pay the Unified Accumulative Pension Fund (UAPF) dividends in the amount of 240.8 million tenge.
According to MIA "Kazinform", the Agency for Regulation and Development of the Financial Market (ARDFM) reported that the UAPF is the owner of 120,398 preference shares of "Nurbank".
"Every year, the fund received dividends in the amount of 120,398,000 tenge, which is 1,000 tenge per share. However, in 2023, the bank did not pay dividends for 2022. As a reason, the bank cited restrictions established by Resolution No. 21 of the Agency for Regulation and Development of the Financial Market, concerning dividend payments. This is explained by the fact that the bank is a participant in the programme for ensuring the financial stability of the banking sector of the Republic of Kazakhstan", the statement said.
As a result, the UAPF filed a lawsuit against the bank, demanding the payment of dividends in the amount of 240.8 million tenge, as well as 25.8 million tenge as a penalty for late payment. It became known that the legal proceedings lasted from November 2024 to February 2025.
"The Specialised Inter-District Economic Court of Almaty partially satisfied the fund's claims, citing the existence of restrictions on dividend payments established by Resolution No. 21 of the Agency for Regulation and Development of the Financial Market. The court ordered the bank to pay the full amount of dividends of 120.4 million tenge for 2022 in favour of the Unified Accumulative Pension Fund. The remaining part of the claim was dismissed by the court", the fund reported.
As clarified in the official statement, the recovered amount will be transferred to the accounts of depositors.
"In accordance with current legislation, dividends on preference shares received from JSC "Nurbank" in favour of the Unified Accumulative Pension Fund in the amount of 120,398,000 tenge will be recognised as income and credited to the accounts of depositors", the statement explained.
It is worth recalling that in January, the ARDFM identified violations in the activities of JSC "Nurbank". It was reported at the time that "Nurbank" had not provided the Agency for Financial Monitoring (AFM) with data subject to mandatory monitoring. For this, the bank was fined 14.4 million tenge.