OREANDA-NEWS. June 27, 2012. Belarusian retailer Eurotorg Ltd (Evroopt trademark) has purchased a 92.55% stake in Belarus-based OJSC International Reserve Bank for as much as 4.7 million euros, the bank posted on its web site.

Thus, the remaining stake belongs to two Cyprus-based companies: Exxes Investments Lld. (5.5%), Sotrano Sservices Ltd (1.9%).

As previously reported, Belarusian retailer Eurotorg Ltd purchased Belarus-based OJSC International Reserve Bank to optimize expenditures. Eurotorg Ltd says they are currently developing the TechnoPlus household electronics network, where 80% of transactions require credit support. With a bank of its own, the retailer plans to promote credit products.

International Reserve Bank was registered on February 25, 2002.

The bank’s assets stood at Br42.51 billion (USD 5.1m) as of April 1, 2012. The bank’s regulatory capital stood at Br31.534 billion (USD 3.8m) as of May 1, 2012.

Eurotorg Ltd is a large retail network in Belarus with over 80 outlets all over the country.