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.
Don’t just follow the news—understand it.
The IntelliNews PRO service includes access to reports, exclusive market data, and more news that decision-makers care about. Stay ahead of the market with IntelliNews PRO.
Sign Up NowRelated Articles
Eurasian Development Bank redeems €286mn Eurobond
The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more
#BREAKING: US lifts sanctions on Belarusian Belavia airline
The United States has lifted sanctions against the Belarusian airline Belavia. This was stated by US Presidential Representative John Cole at a meeting with Belarusian President Alexander Lukashenko ... more
Belarusian tractors drive diplomacy in Africa
Belarusian Foreign Minister Maksim Ryzhenkov arrived in Zimbabwe on 15 April for a working visit aimed at deepening trade and technological cooperation with the African nation, Belta reported on ... more