BCC-TSB merger may take 2 years
11:56, 23 May 2017
ASTANA. KAZINFORM CEO of the JSC BankCenterCredit Vladislav Li met on Tuesday with directors of the BCC branches and informed them about the Bank's intentions after the change of shareholders.
“The process of possible merger is long enough and it may take up to two years after the current change of shareholders,” a press release from BCC reads.
Prior to this, both the BCC and Tsesnabank will function as two separate financial institutions.
In April 2017, Korean Kookmin Bank sold its shares in BCC to Bakhytbek Baiseitov, JSC Tsesnabank and Tsesna Holding.
Upon conclusion the deal, Baiseitov’s share in BCC increased to 44.5%. Tsesnabank acquired 29.9% of voting shares of the bank and Tsesna Holding purchased 13.42% of privileged shares.