The administration of the President of Belarus has sent all the documents required for the acquisition of the Ukrainian subsidiary of Sberbank by the Belarussian state-owned Paritetbank. The Belarussian bank’s press-service said this.
The decision to acquire Sberbank Ukraine was approved by the supervisory board of Paritetbank following the results of an analysis of the possible opportunities for future development.
According to Article 34 of the law on banks and banking operations, the relevant documents will remain under consideration of the central bank for up to three months after the full package has been received.
Sberbank Ukraine was founded in 2001 and is owned solely by Sberbank of Russia. It currently operates over $1.45 billion in assets, which ranks it ninth in Ukraine in terms of assets.
Paritetbank was established in 1991 and is currently ranked 15th in Belarus in terms of assets. Republic of Belarus is its principal shareholder with 99.83% of the shares, while the remaining 0.17% of the shares are owned by over 2500 private entities. The state-owned bank currently operates 25 branches throughout Belarus and employs more than 400 individuals