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Belarus’ Onerbank sold for €5.1m

The authorized fund of the Belarusian Onerbank with the Iranian capital has been sold for €5.1 million. The transaction was registered by the Belarusian Currency and Stock Exchange on 22 January, BelTA has learnt.

A total of 15 million of the company’s shares were sold. The shares were bought at the price exceeding their principle value by 25.9%.

Onerbank was founded by Bank Refah Kargaran, Bank Saderat Iran, Bank Toseeh Saderat Iran/Export Development Bank of Iran in October 2009. The bank served investment projects of the Iranian business in Belarus and specialized in interbank transactions. As of 1 October 2012 Onerbank assets totaled Br160.1 billion, its authorized fund equaled to Br46.71 billion, regulatory capital – Br94.6 billion.

In 2010 the U.S. Department of the Treasury imposed sanctions on Onerbank, suspecting it in financing the Iranian nuclear program. The sanctions were also imposed on another Belarusian bank founded in cooperation with Iran – Trade Capital Bank. Its main founder is Iranian Bank Tejarat who holds a 99.89% stake in the company.