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Owner Of "Tabakerka" Oligarch Aleksin Bought Idea Bank

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Owner Of "Tabakerka" Oligarch Aleksin Bought Idea Bank
PHOTO: INFOBANK.BY

Its name will be changed.

MTBank has conducted one of the largest recent transactions in the banking sector, buying out 99.999% stake in Idea Bank, previously owned by the Polish holding company Getin, The Village Belarus writes.

MTBank belongs to the family of businessman Aliaksei Aleksin. They also own a tobacco factory, the chain "Tabakerka," a transit transport monitoring operator, a logistics company and other structures.

The purchase price amounted to Br50 million. The National Bank approved the deal. The permission was granted on December 30, 2021.

As of April 2, the process of joining Idea Bank to MTBank will be launched, but so far Idea will operate as a separate entity. The final joining will take place before the end of 2021. As a result, the new bank will be operating under the brand of MTBank.

Idea Bank clients were assured that during the transition period, all products will remain the same, accounts will be available, deposits will not be closed, and mobile and internet banking and the call center will continue to work.

In November 2020, Polish holding Getin signed a letter of intent with MTBank on selling its shareholding in Idea Bank. At that time, the deal was expected to take place in January 2021. The purpose of the deal was to optimize the structure of Getin Holding.

Idea Bank was founded in 2004. The Bank was involved in retail business, as well as crediting small and medium business. Today, it ranks 17th in the banking system in terms of assets.

MTBank was founded in 1994. The bank has 100% national capital. It ranks 10th in the banking system by volume of assets. MTBank finances both retail and corporate clients, including international companies.

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