OREANDA-NEWS  On 11 November was announced, that JSC BTA Bank, Kazakhstan’s largest bank, upped it participation in the authorized capital of CJSC BTA Bank (Belarus) from 48.94% to 99.29% by acquiring shares previously owned by other shareholders. As a result, BTA Bank has now assumed full control of BTA Bank (Belarus).

"We view Belarus as one of the most attractive markets in the CIS. Its advantageous location, dynamic macroeconomic improvement and vibrant consumer market point to a great future for banking in that country. The Belarussian bank’s consolidation into the BTA group is a major step in this direction", said BTA Bank (Kazakhstan)’s Chairman of the Management Board Roman Solodchenko.

As a result of the acquisition, CJSC BTA Bank (Belarus) has now become a BTA Bank subsidiary. The deal was part of the consolidation plan and one of the principal steps in the implementation of Strategy 2015, which foresees BTA claiming up to 5% of the Belarussian banking services market.