BELARUS NEWS AND ANALYSIS
DATE:
03/12/2008
Russia's Sberbank Could Open New or Buy Existing Bank in Belarus - Gref
MINSK. Dec 2 (Interfax) - Russia's Sberbank will soon consider opening a new bank or buying an existing one in Belarus, Sberbank chairman German Gref told journalists in Minsk on Tuesday after meeting with President Alexander Lukashenko.
"We are beginning active work with the National Bank to determine a way of entering the Belarusian market. It will be either the opening of a new bank or the acquisition of an already existing one," said Gref.
Russian Sberbank wants "to be present in Belarus on mutually beneficial terms for at least ten or 20 years," Gref said.
The meeting with the Belarusian president "focused on an issue that is very important for implementing Sberbank's strategy," Gref said. "At the time when global financial markets are being shaken, our arrival to any country's market is a significant event," he said.
"Among the CIS countries, Belarus is one of the most prioritized and most interesting markets," he said. "Today we have received an approval of our future possible presence in Belarus, the president has shown his interest in it," the Sberbank chief said.
"We have received an important signal that the Belarusian investment climate is very positive," the banker said.
Source:
http://www.istockanalyst.com/article/viewiStockNews+articleid_2849051.html
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