The state-run VNESHTORGBANK (VTB) is to take over banks in Kazakhstan, Azerbaijan and Belarus, said VTB President and CEO Andrei Kostin. The bank plans to finalize a buying process before this year ends. VTB is contemplating two options in Belarus. Two Azerbaijani banks are under due diligence investigation, while in Kazakhstan the bank has just begun discussing a possible purchase, Kostin pointed out. In these countries, VTB is interested in banks with a ramified branch network, an experience working with corporate clients and an extensive coverage area.
Source: BANKIR.RU, May 25, 2006
