Veshtorgbank plans to purchase Azeri bank
Veshtorgbank of Russia is planning to purchase banks in Kazakhstan, Azerbaijan, Byelorussia by the end of 2006, reportedly said Andrey Kostin, chairman of Board, VTB.
Speaking of Kazakhstan, he said various proposals are being studied now, and in Azerbaijan and Byelorussia alike one or two banks are suggested to purchase.
Kostin said these are the most promising CIS countries that the bank does not operate in yet.
VTBs senior banker Vasily Titov told journalists that the bank to be purchased should have an experience in enterprise and retail business and significantly cover the area of the country. Based on these criteria we are working to select at least two banks in each country, he added.