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ALMATY, Sept 11 (Reuters) - Tsesnabank, Kazakhstan’s second-biggest lender by assets, said its shareholders would increase the bank’s capital by 40 billion tenge ($105 million) after it turned to the central bank for liquidity support.
The lender said it was observing regulatory requirements, and was considering engaging Kazakhstan’s state-owned bad loan fund designed to purchase non-performing loans from local banks.
Tsesnabank, which has total assets worth around $6 billion said it was considering extending some of its loans to agricultural companies to reduce their debt.
The bank said this month it had taken out a short-term, 150 billion tenge ($405 million) loan from the central bank to boost liquidity.
The bank, which last month warned of a sharp drop in liquidity in the second quarter, said it has repaid 100 billion tenge and would pay the remainder as soon as it had a “sufficient amount of liquid assets”.
Tsesnabank is controlled by the family of Adilbek Zhaksybekov, who until this week served as President Nursultan Nazarbayev’s chief of staff.
Nazarbayev dismissed Zhaksybekov, 64, on Monday, saying he has reached retirement age. The same day, Zhaksybekov was named chairman of Corporation Tsesna, through which his family owns stakes in Tsesnabank and other businesses. (Reporting by Olzhas Auyezov Writing by Tom Balmforth Editing by Polina Devitt and Louise Heavens)