Press release

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”.

Additional information:

Alfa-Bank (Belarus) is a Belarusian commercial bank with the international capital, being a part of the Luxembourg-based private investment holding company ABH Holdings S.A., which also has investments in a number of banking groups operating in Europe and the CIS, specifically in Ukraine, Belarus, Kazakhstan, Russia, and the Netherlands. Official website of Alfa-Bank (Belarus): www.alfabank.by

"Home Credit" is a subsidiary of the international Home Credit Group, which entered the Belarusian market in 2006. In July 2016, "Home Credit" became a Non-banking Credit and Financial Organization as the result of policy on transforming the business model in Belarus. Official website of the Home Credit Group: www.homecredit.net