buying Parex Bank’s leasing portfolios in Belarus and Russia, a
representative from Rietumu has confirmed.
Sergejs Grodnikovs said that Rietumu would like its Belarusian
subsidiary, WestLeasing, to purchase the Parex Leasing portfolio in
Belarus.
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“According to our information, the size of the portfolio is
worth tens of millions of US dollars.” he said. “It is too early to
talk about the details of a possible deal, as it is necessary to
carry out an analysis of the assets they have, but if the quality
of Parex Leasing Belarus’ portfolio proves good enough, we will be
ready to buy the entire portfolio.”
“The possible acquisition of the Parex Leasing portfolio would
substantially increase our leasing company’s share in this country,
and rank it among the market’s leaders,” he added.
In addition, Grodnikovs confirmed the bank has been looking closely
at acquiring Parex Bank’s assets in Russia, too.
WestLeasing’s portfolio is expected to grow by 10 percent this
year, and its net profit is likely to triple compared to 2007, the
company said.
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