The Russian Sberbank will complete the purchase of the Belarusian BPS Bank in early December, it was learnt from Sergei Dubkov, Head of the Central Banking Supervision Department, and a member of the Board of Directors of the National Bank.

According to him, the sides have reached an agreement on the procedure and price of the deal alongside with the investment agreement. The two banks are currently carrying out the necessary domestic procedures.

Chairman of the Board of the National Bank Piotr Prokopovich had previously said that this deal would help the Belarusian bank solve a number of problems. In two or three years, the BPS Bank will be infused with the cutting-edge technologies that are unknown to any other Belarusian bank; it will get additional fundraising opportunities to implement investment projects in Belarus.

The expected volume of the transaction is $300 million.

As one of the major Belarusian banks BPS Bank provides a full range of lending services both in Belarusian rubles and in foreign currency. It is one the leading Belarusian banks that finances foreign trade.

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