Tuesday, November 27, 2012

Belarus/Russia – SocGen’s Rosbank to sell Belrosbank to Alfa-Bank


On 26 November the commercial bank Rosbank (ОАО АКБ «Росбанк»), a member of the Société Generale Group, announced that on 23 November it had reached an agreement with Alfa-Bank (ОАО «Альфа-Банк»), the largest privately-owned bank in Russia, for the latter to acquire Belrosbank, with the transaction expected to be completed before the end of the year.  Belrosbank (ЗАО «АКБ «Белросбанк»), a major bank in Belarus, is owned 99.99% by Rosbank, which in turn is owned 82.4% by Société Generale S.A.

Sources:


Mark Pleas
Eastern Europe Banking & Deposits Consultant