February 6, 2019 / 9:51 AM / 9 days ago

Kazakh brokerage FHS takes over Tsesnabank - central bank

ALMATY, Feb 6 (Reuters) - Kazakh brokerage First Heartland Securities has bought a controlling stake in Tsesnabank , Kazakhstan’s central bank said on Wednesday.

The takeover was part of a package of measures aimed at supporting Tsesnabank which also included a $1.6 billion purchase of Tsesnabank’s loans by a state-run “bad bank”, the central bank said in a statement. (Reporting by Olzhas Auyezov; editing by Maria Kiselyova)

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