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Alfa-Bank (Belarus) acquired the Home Credit Group's entity

June 20, 2018. TAG: Financial Services

ABH Holdings S.A., which indirectly owns 99,9% shares in Alfa-Bank (Belarus), and the International Group "Home Credit" announced closing of the deal to purchase 100% of shares in Open Joint Stock Company Non-banking Credit and Financial Organization "Home Credit".

This deal was previously approved by the National Bank of the Republic of Belarus and the Ministry of Antimonopoly Regulation and Trade of the Republic of Belarus.

In fact, this is the only M&A deal in the banking sector of the Republic of Belarus over the past few years. It is noteworthy that the deal was closed within 3 months.

The deal confirms ambitions of the Alfa Banking Group for the further growth of its banking business in Belarus. In 2016-2017, Alfa-Bank's active client base doubled, and this deal would give a significant impulse to its further growth.

Rafal Juszczak, CEO of Alfa-Bank (Belarus), noted: “This deal is an example of excellent Alfa-Bank's team work. We could not do it without a fast and efficient cooperation between Alfa-Bank, Home Credit, and the National Bank of the Republic of Belarus. We are sure that this M&A transaction is really a “win-win”: Home Credit could not go on with the same business model in Belarus, and we were happy to continue the banking journey of their customers with Alfa-Bank. This M&A will not change the strategic focus of Alfa-Bank in Belarus – we will continue our expansion in retail and mass business with a particular focus on mobile banking”.

Alfa-Bank (Belarus)

ABH Holdings S.A. (ABHH) is a privately owned Luxembourg-based investment holding company investing into several banking groups in the CIS and Europe. ABHH includes Alfa-Bank (Russia), Alfa-Bank (Ukraine), Ukrsotsbank (Ukraine), Alfa-Bank (Belarus), Alfa-Bank (Kazakhstan) and Amsterdam Trade Bank N.V.

Alfa-Bank (Belarus), headquartered in Minsk, has 38 branches in all regions of Belarus. Alfa-Bank (Belarus) is one of the leading private banks in Belarus.