reported on Friday, August 8 The Board of Directors of the Bank of Moscow decided to withdraw from the capital of its Belarusian subsidiary, Bank Moscow-Minsk, Interfax .

As the press service of the credit institution informed the agency, the Moscow-Minsk bank will be sold “as part of optimizing the presence of the VTB Group.” “The strategy of the Bank of Moscow provides for work on the territory of Russia; we do not plan to develop subsidiary banks outside the country,” the bank clarified. The buyer's name and transaction amount are not disclosed.

Initially, VTB, which gained control of the Bank of Moscow in 2011, planned to merge the Belarusian asset into the VTB Belarus bank, but subsequently began negotiations on the sale of the Moscow-Minsk bank.

In 2012, the Belarusian authorities announced their plans to buy out this bank. The head of the Belarusian National Bank, Nadezhda Ermakova, allowed the bank to merge with Belinvestbank after the deal was concluded. In June 2014, VTB representatives reported significant progress in discussing the details of the transaction.

At the moment, the Bank of Moscow is also looking for a buyer for its Ukrainian subsidiary, BM Bank JSC. At the same time, he allows for the option of joining VTB Ukraine.

Bank of Moscow decided to sell its Belarusian subsidiary