BELARUS NEWS AND ANALYSIS

DATE:

25/08/2006

Rosbank has increased its share in subsidiary Belrosbank to 73.08% from 57.69% shares

Rosbank AKB OJSC has increased its share in its subsidiary Belrosbank to 73.08% from 57.69% shares, as Rosbank informs. The number of shares was raised from 3.75 mln to 4.75 mln.

Belrosbank CJSC was registered in 2003; its authorized capital totals 17.88 Belarusian rubles. The Bank specializes in crediting enterprises of the real sector of the economy and the power sector, including Belarusian power plants. Power Machines OJSC and SP IPK Yarovit (Belarus) were the co-founders of Belrosbank too at the point of its registration.

Rosbank was founded in 1993. 97.26% of the Bank's shares are held by the Cyprian KM Technologies (Overseas) Ltd. that represents Interros' interests. In June, Societe Generale became the holder of 10% shares of the Bank, having paid $317 mln for them.

Rosbank is one of the ten largest Russian banks. As to July 1, 2006, Rosbank's assets totaled RUB 209.22 bn, its owned capital - RUB 21.16 bn. Rosbank currently comprises about 800 branches, 69 of them operate in most of Russian regions.

Source:

http://www.akm.ru/eng/news/2006/august/25/ns1766694.htm

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