World of Privilege

History

2023: Sentro Group bought control at World of Privileges Bank

In early October 2023, it became known that the Indian group Sentro Group bought a controlling stake in the Russian bank World of Privileges. We are talking about 50.001% of capital.

The deal came after Sentro announced its plans to simplify transactions between India and Russia. The amount of the transaction was not disclosed.

Sentro Group bought a controlling stake in the Russian bank "World of Privileges"

The group's chairman Naveen Rao said the bank wants to take advantage of the ruble and rupee when making payments between India and Russia. He mentioned that Sentro Group seeks to cooperate with Indian banks, and also uses a brokerage license aimed at retail investors from Russia to invest in the Indian market.

Experts referenced by the Press Trust of India. believe that the deal will lead to an improvement in the quality of support for Russians visiting India and citizens India staying in Russia. rubles Transfers in and rupees will become available to them. is engaged in servicing citizens of the CIS countries and plans to expand in India, the CIS, and. Saudi Arabia UAE

The Sentro Group website states that the group is widely represented in India, the UAE, Russia and Uzbekistan. The company does business in aviation, logistics, real estate, investment and pharmaceuticals.

As for the "World of Privileges," then, according to RAS reporting for the second quarter of 2023, the bank's assets amounted to 8.6 billion rubles, liabilities - 7.5 billion rubles. The bank has one main and one additional office, all of them are located in Moscow. The structure of the owners of the credit institution by the beginning of October 2023 was not disclosed, as well as the names of the managers.^[1]

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