BELARUS NEWS AND ANALYSIS

DATE:

11/03/2009

Sberbank mulls buying Belarus bank

RBC, 11.03.2009, Moscow 16:44:36.Sberbank is currently looking into the possibility of buying a 100-percent stake in Belarus' Belpromstroibank (BPS-Bank), Deputy Chairman of Sberbank's board Ilkka Salonen told a press conference today. He pointed out that negotiations on the purchase were only just beginning, adding that Sberbank would closely examine the bank's balance sheet. Salonen also stressed that it would not be feasible for Sberbank to buy anything less than 100 percent of BPS-Bank's shares.

Commenting on the potential acquisition of Kazakhstan's BTA Bank, Salonen indicated that such talks were also at the initial stage, noting that Sberbank was interested in gaining control over the bank and thus becoming its strategic investor.

Sberbank also plans to open its office in China and a subsidiary in India before August 2009, Salonen stated, noting that these projects are substantial for the bank's development strategy.

Source:

http://www.rbcnews.com/free/20090311164436.shtml

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