Alfa-Bank sells its subsidiary in Kazakhstan to another domestic bank

11:03 - 21.04.2022

April 21, Fineko/abc.az. The Kazakh subsidiary of Alfa-Bank, which has been sanctioned, will be sold to another bank operating in this country - CenterCredit.

ABC.AZ reports that the press service of Alfa-Bank of Kazakhstan announced the achievement of a relevant agreement between Russian Alfa-Bank and CenterCredit.

Thus, 100% of the shares of Alfa-Bank's subsidiary will be sold to CenterCredit, while the Russian bank will completely withdraw from the shareholders and withdraw its representatives from the Board of Directors.

Earlier, it was also reported that Kazakhstan's Halyk Bank acquired part of the loan portfolio of a local subsidiary of Sberbank.