About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
Bank of Georgia Buys Belarus Bank
Civil Georgia, Tbilisi / 13 May.'08 / 14:55

Bank of Georgia (BOG) said on May 13 it had bought 70% equity interest in Belarusky Narodny Bank (BNB) for USD 34.2 million.

According to the agreement BOG has an option to acquire the remaining 30% equity interest in BNB over the next three years.

According to the BOG, Minsk-based BNB had total assets of USD 48.9 million and total equity of USD 24.6 million as of December 2007. BNB has four branches and service centers and over 100 employees, BOG said in a statement.

“This acquisition marks our entry into the Belarusian market and represents another step towards the implementation of our international expansion strategy. We are excited to be one of the earlier international entrants into the promising Belarusian banking market,” Nikoloz Enukidze, BOG board chairman, said. “With this transaction our international acquisition objectives for 2008 are achieved and we will now focus our management resources on the integration of our subsidiaries in Belarus and Ukraine into Bank of Georgia group.”

BOG bought Universal Bank of Development & Partnership (UBDP) in Ukraine for USD 81.7 million last October.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2021, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.