ADVERTISEMENT

Rietumu Group acquires brokerage company in Ukraine

Deals

Latvia’s Rietumu Bank’s subsidiary brokerage company IBS RB Securities has completed a buyout deal with the Ukrainian brokerage company Oschadna Companya (“Savings Company”), BC learned from the bank’s head of public relations, publicity and marketing department Sergejs Grodnikovs.

As a result of the deal, Rietumu Bank has become the owner of 67% of the Savings Company, the rest 33% of company’s share capital are owned by Ukrainian partner.

Rietumu Group inform that the acquisition of the Savings Company is “subsequent logical landmark in Rietumu Group’s enlargement and development of financial and investment services” and that “regional and international growth coupled with geographic diversification of the business has always been and remain one of the Group’s core priorities”.

At present, Rietumu Group efficiently works with customers not only in the Baltics, but also in the CIS and European Union countries, amongst others. The Bank has a wide network of branches outside Latvia, including offices in Moscow, St. Petersburg, Minsk, Vilnius, Alma-Ata, Prague, Bucharest and in Ukraine’s capital city – Kiev. Acquisition of the Ukrainian brokerage company is to become a successive milestone towards strengthening Rietumu Group’s presence in Ukraine. (The Baltic Course)

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.