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Business news

17 Dec 2015

Belarus’ Development Bank branches out to London

MINSK, 17 December (BelTA) – OAO Development Bank of the Republic of Belarus (DBRB) has opened its branch in London, BelTA learnt from the bank.

“Choosing London for our overseas representation is a matter of common knowledge. The City’s Square Mile has financial business even in its air. Belarus is becoming an object of close attention from international investment banks, funds and companies. The interest in our state is on the rise and we feel it. Therefore, the Development Bank, as one of Belarus’ crucial financial institutions, is ready to keep abreast with all these processes,” Chairman of the Board of the Development Bank of Belarus Sergei Rumas said.

According to the press service, the permanent transformation of the global financial market has pushed the Bank to use a form of mobile presence, in which the head of the London office is directly integrated into the system of the bank’s international business. Depending on goals, the DBRB office will be able to hold events of any format, including private talks, big forums and presentations, and use the corresponding level of necessary services. For this, the operator of the business center where the office will be located will provide the whole range of modern technological, communication, administrative and other associated solutions.

Apart from that, the Development Bank of Belarus gets access to the relevant services provided in other prestigious international business locations in New York, Sidney, Paris, Tokyo, Hong Kong, Singapore, Doha, Dubai, Beijing and others. The office in London will be the main venue for the bank’s work in the international financial market. This approach will help streamline operating costs on doing business abroad in comparison with opening a traditional representative office.

“We will pay for the volume of services we need in a certain period of time. We will conduct large-scale activities when business volumes will be on the rise and wind down our presence to the minimum during the period of stagnation. It will considerably enhance the elasticity of doing business opportunities and reduce running costs,” Sergei Rumas said.

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