Latvia gave up a profit of millions for 100$, says Belarusian Parex
The Belarusian branch of Parex Leasing, which was sold by the State of Latvia to Rietumu Banka for $100, is worth more, says the former head of Parex Leasing in Minsk Anton Andrenko in an interview with the LNT television.According to website mixnews.lv, Mr. Andrenko insists that the company could have been sold for much larger amount.
"The deal is done virtually on onerous terms. The company is profitable, the 2009 tax return form, filed in the Belarusian tax authorities, showed that the net profit of more than 1 million euro was recorded," - said Andrenko.
As it was previously reported, the president of Rietumu Banka Alexander Kalinowski is pleased with the transaction. According to Kalinowski, this is not the first nor the last step in the implementation of the bank's strategy aimed at acquiring high-quality assets. In his turn, Latvian Economy Minister Artis Kampars argues that the sale Belarusian Parex was profitable for Latvia.
According to experts, the entire deal can be viewed as a clear conflict of interests.
It should be reminded that the sale of the Parex bank leasing company in Belarus was defined by the deputies of the “Center of consent" as a flagrant example of the actual waste of public assets.
Publication date: 03.06.2010
