Parex Bank is considering the sale of its Belarusian leasing
arm, according to Rietumu Banka, who made an offer to the Latvian
bank.
Rietumu Banka acquired a leasing company, WestLeasing, last May,
and is now looking to grow its portfolio through the acquisition of
Parex Bank’s Belarusian leasing arm.
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“We wish to overtake Parex’s leasing portfolio in Belarus and
our shareholders support this,” said Arkadijs Suhorenko, Rietumu
Banka’s deputy chairman.
He added that he is now expecting a reply from Parex Bank. “We
have extended a proposal, and now Parex Bank’s management is
revising it. Possibly they will not need it as they might want to
expand their own activities in Belarus.”
In December, Rietumu Banka announced that they were interested
in acquiring the leasing portfolio of the ailing Parex Bank not
only in Belarus, but in other countries as well, such as
Russia.
Parex Bank was hit hard by the credit crunch, and the Latvian
government took a controlling 51 percent stake in the bank.
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