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Tsesnabank divests entire stake in Bank CenterCredit

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Tsesnabank divests entire stake in Bank CenterCredit

Tsesnabank JSC and Tsesna Financial Holding JSC sold their entire stake in Bank CenterCredit JSC, comprising 29.56% of the lender's ordinary shares and 90.28% of its preferred shares, Tsesnabank said March 15.

The ordinary shares were purchased by CenterBank shareholders Bakhitbek Bayseitov and Vladislav Lee, as well as a group of minority shareholders, while the preferred shares were acquired by the bank itself.

Following the transaction, Bayseitov holds a 48.07% stake in CenterCredit, while Lee owns 10.05% of its shares, CenterCredit Bank noted.

Financial details of the transaction were not disclosed.

Both banks are based in Kazakhstan.