Business news

MINSK, 12 June (BelTA) – Bank Moscow-Minsk is ready to consider proposals of Chinese companies concerning capital raising, BelTA learned from Artem Korbut, Head of the bank’s Marketing Office.

The executive said: “We are happy to work together not only with Chinese companies but other investors, too. Indeed, we met with top executives of Xinrongji Holding Group and DRex Food Group on 9 June. During the meeting we discussed the matter of attracting Chinese investments. The sides expressed interest in continuing this cooperation but we have not received any concrete proposals yet.”

Speaking about pre-privatization preparations, Artem Korbut stressed that the bank is working together with the European Bank for Reconstruction and Development (EBRD) within the framework of the pre-sale procedures. “There is an interest in our bank,” stated the executive.

BelTA reported earlier that Bank Moscow-Minsk is going through a pre-privatization period assisted by the European Bank for Reconstruction and Development. The National Bank of the Republic of Belarus and the EBRD signed a memorandum of understanding on privatizing Bank Moscow-Minsk on 28 September 2016. There are plans to sell the controlling interest to an acceptable strategic investor by 1 January 2020.

President of Xinrongji Holding Group Nian Yunan mentioned the intention to invest in Bank Moscow-Minsk on 12 June.