Alfa Bank

Russian Alfa Bank, controlled by billionaire Mikhail Fridman, announced on Monday that its Belarusian subsidiary, Alfa Bank (Belarus), will acquire Belrosbank from Russian Rosbank, controlled by Société Générale. The move followed by failed negotiations with the Belarusian authorities to buy state-owned Belinvestbank.

The transaction is expected to be completed before the end of 2012, Alfa Bank said in a statement, but the bank did not disclose the price of the deal. Read more

Mikhail Fridman, chief executive TNK-BPThe influence of Russia in Belarus’ banking sector is easily spotted. All of Russia’s major banks have subsidiaries in the country and provide them with support.

Russian finance could be set to increase further: Alfa Bank, controlled by billionaire Mikhail Fridman (pictured), is discussing the possible acquisition of another Belarusian lender. But the target, although rumoured, is still unconfirmed. Read more