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Wednesday, June 28, 2017

Consortium to optimize Belarusbank, sell minority stake

A consortium consisting of KPMG Tanacsado, KPMG Belarus, the Hungarian law firm Oppenheim and Belarusian law firm Stepanovski, Papakul and Partners has been formed to sell minority stake in Belarusbank and help set up a plan for the next few years.

The consortium was commissioned by the Belarus government.

The full project entails creating a development strategy for the bank for the next three years and selling up to 25 percent of the bank's shares to a foreign investor.

The bank has been cooperating with international advisory companies. Last year, consultants made an assessment of the bank's assets, allowing it to enhance its operational sustainability. Other recommendations have been put in place by the bank.

KPMG's plan is expected to maximize the value of every share in the bank.

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