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Russia’s Sberbank Aimed At Belarus Expansion
Russia’s biggest saving bank, Sberbank, will soon consider the possibility of launching a new bank or acquiring the existing bank in Belarus, Sberbank CEO German Gref told reporters on Tuesday in Minsk after meeting with Belarus’ President Alexander Lukashenko, Interfax reported.
“We are proceeding to the active work with the National Bank to determine the method to enter the market of Belarus. It will be either the launch of a new bank or the purchase of existing one,” Gref said Tuesday.
According to Gref, Sberbank is aimed at the mutually beneficial presence in Belarus that will last for at least 10 to 20 years.
With the financial markets jolting worldwide, Sberbank’s arrival on the market of any country will be a significant event, Gref pointed out. “In CIS, the market of Belarus is one of the highest priorities and of greatest interest,” the banker said. “We have received today the approval for our future potential presence in Belarus. The president has expressed interest in it… We have got a vital signal that the investment climate in Belarus is very positive.”
www.kommersant.com
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