Central Bank of India on Thursday announced that it sold its entire stake in Credit Information Bureau of India (Cibil) to Transunion International Inc after due approval.

Cibil is a credit information provider that collects, compiles and maintains records of an individual's payments of loans and credit cards. Banks and other lenders submit records to Cibil on a monthly basis.

The state-owned lender said in a BSE filing, "Central Bank of India has informed BSE that after due approval, Central Bank of India has sold its entire stake in Credit Information Bureau of India Limited (Cibil) to Transunion International Inc."

Central Bank of India had a 5 per cent stake in Cibil for which it was the initial sponsor to US-based Transunion International Inc.

A day earlier, on Wednesday, Punjab National Bank (PNB) had also offloaded its 5 per cent stake to Transunion International Inc for an undisclosed amount.

With 37.5 per cent stake, Transunion International Inc is the majority shareholder in Cibil. The list of other stake holders in the company includes Bank of Baroda, Indian Overseas Bank, Bank of India, Union Bank, Citicorp Finance
(India), HSBC, Standard Chartered Bank, and HDFC Ltd.

Stock in Central Bank gained 1.79 per cent to close at Rs 45.55 a share on Thursday on the Bombay stock Exchange.