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Kazakh regulator allows CenterCredit Bank's former head to become shareholder

The National Bank of the Republic of Kazakhstan allowed Bank CenterCredit JSC's former management board Chairman Vladislav Lee to become a major shareholder at the bank, the regulator said Feb. 13 without disclosing further details.

The central bank's decision reflects the plans of the new shareholder to acquire a stake equal to, or higher than, 10% in the lender, Atameken Business Channel said Feb. 14 on its website.

Lee stepped down from the post of management board chairman at CenterCredit Bank in September 2017, and the lender said at the time he would continue to serve on its board of directors, overseeing the development strategy and cooperation with state authorities and the central bank.