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)