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Commerzbank offers its Russian subsidiary to Belarusbank

Commerzbank suggested Belarusbank acquiring its subsidiary in , Nadezhda Ermakova, chairperson of the board of Belarusbank, told reporters on 7 July. 

“Commerzbank has made us an offer to purchase its subsidiary,” she said. 

Belarusbank earlier announced its intention to acquire a small bank in . “Despite the crisis we have not given up on this idea,” Nadezhda Ermakova said. 

The final choice has not been made yet. Belarusbank is looking into several variants. “This should be a clean, transparent bank, without bad assets. We are thoroughly examining every loan of the potential bank. We hope to find the bank which will suit our requirements,” she said. 

Belarusbank is looking to purchase a bank in to service the flows of Belarusian trading houses in and domestic companies working on that market, she said. Many Russian citizens would like to have their assets kept in Belarusbank too, she said. 

The deal is expected within $5-10 million. “The owner of Belarusbank has already given its approval,” said Nadezhda Ermakova.

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