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Wednesday, June 28, 2017

Belarus sets up consortium to sell minority stake in Belarusbank

The government of Belarus has set up a consortium to help develop Belarusbank's programs and sell minority stake in the bank.

The consortium consists of KPMG Tanacsado from Hungary, KPMG Belarus, Hungarian law firm Oppenheim and Belarusian law firm Stepanovski, Papakul and Partners.

The project will create a strategy for the bank for the next several years and sell up to 25 percent of the bank's shares to a foreign investor.

Last year, an independent assessment helped the bank sustain operations. Other recommendations put in place since 2015 have also helped the bank.

The new strategies are expected to maximize profits on bank shares.

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