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Belarusian bank to attract investor on favourable terms

One of Belarusian banks will attract an investor on advantageous terms by the end of 2009, chairman of the board of the National Bank of Belarus, told a press conference on 29 July. 

“We want our banks to develop rapidly. This requires substantial resources. This is why Belpromstroibank, Belinvestbank and Paritetbank will be sold to strategic investors,” Piotr Prokopovich said. “I think we will see the results of this work in 2009 already. A strategic investor will be attracted to at least one of these banks on our conditions. The work on the remaining banks might be complete in 2010,” he said. 

Our major condition was a presentation of a development programme of a bank for the coming four or five years after the acquisition, Piotr Prokopovich specified. The key point is how the bank is going to develop after the privatization, how many resources will be invested in it. 

The two leading state-run banks, Belarusbank and Belagroprombank, will not be privatized in the near future.

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