Head of Belarus' largest bank dismissed amidst corruption scandal

By bne IntelliNews December 22, 2016

Sergei Pisarik has been dismissed from his post of chairman of the board at the largest bank in Belarus, state-owned Belarusbank, the lender's media office reported on December 21.

According to the bank's statement, the supervisory board of Belarusbank terminated the employment of Pisarik as chairman "by mutual agreement of the parties" on December 19. Alexander Palivka, deputy chairman of the board, was assigned to serve as the lender's acting president.

"The change in the leadership will not affect the activities of the bank and the implementation by the bank of all its plans and obligations," the statement reads.

The move followed arrests of at least two senior executives of Belarusbank, including the lender's Executive Director Anatoliy Bagovik, earlier this year, local media reported. The arrests are allegedly linked to an investigation against the bank's first deputy chairman Gennadiy Gospodarik, who was arrested in June. He was caught red-handed while taking a bribe of $14,000, the KGB security service said.

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