OREANDA-NEWS. December 10, 2010. BPS-Bank, a member of Sberbank of Russia Group since last year, and Deutsche Bank Russia, a member of Deutsche Bank Group, announced the intention to co-operate in corporate and investment banking transactions in the Republic of Belarus.

The co-operation between the banks will be focused on corporate finance, capital markets and structured trade and export finance.

The Memorandum of Understanding between BPS-Bank and Deutsche Bank Russia was signed at the Belarusian Investment Forum in Frankfurt-am-Main in the Euro Finance Week taking place on November 15-19, 2010.

The document stipulates close interaction between the banks in order to meet financial and advisory demands of the rapidly growing economy of the Republic of Belarus with its large-scale investment plans. Both banks recognize the potential synergies in their strengths and wish to leverage off them where appropriate.

"The Belarusian economy undergoes considerable growth at the moment, and BPS-Bank, being one of the systemically important banks of the country, contributes to growth and development of the national economy in general. Together with Deutsche Bank we shall seek and implement favourable opportunities in the sphere of corporate finance and advisory, work on placement of securities in capital markets, and structure export and import transactions in the Belarusian market," says Vasili S. Matyushevski, Chairman of the Board of BPS-Bank.

Joerg Bongartz, Chairman of the Board of Deutsche Bank Ltd. in Russia, commented: “We are pleased to have such a significant partner in Belarus as BPS-Bank. We are confident that our deep expertise in the region and the new investment opportunities offered by Belarus today will create a profitable partnership which allows foreign investment streams to Belarus and giving local companies access to global markets. While our joint efforts will benefit both organizations, the real winners will be BPS-Bank’s and Deutsche Bank’s clients”.