Kazakh Kazkommertsbank to buy Belarusian bank

Kazakh Kazkommertsbank will purchase 50 percent of the ordinary shares in Belarusian BTA Bank.

Kazakhstan’s antimonopoly committee granted its permission for the purchase deal, Kazakh Economy Ministry said July 22.

The deal should be completed within one year from the date of issuance of the antimonopoly committee’s permission.

Belarusian BTA Bank will transfer its shares to Kazkommertsbank as part of repayment of its debts.

BTA Bank, which has offices in Belarusian cities of Minsk, Brest, Mogilev, Vitebsk and Gomel, is a subsidiary of Kazakh BTA Bank.

/By Trend/