CEE - Horizon Capital invests in FinComBank and MTB
Horizon Capital has acquired a 25% stake in Moldova-based FinComBank and a 31.5% stake in Belarus-based MTB, expanding its financial institution portfolio further.
FinComBank provides a wide range of financial services to local and foreign clients, including private individuals, small and medium businesses and large enterprises. FinComBank has 13 branches and 21 offices located in Chisinau and Moldovan regions, enabling the bank to service 70,000 clients. As of June 30, 2007 the Bank's total assets were equal to $100m and equity totaled $14.7m. MTB services small and medium enterprises and private clients. The Bank has five branches, three of which are in Minsk, and 15 point of sales or service centers located both in Minsk and in other cities of Belarus. As of June 30, 2007, the Bank’s total assets were equal to $94m and equity totaled $19m.
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