Oct. 25 (Bloomberg) -- OAO Sberbank has spent $750 million to boost resources of its Belarusian unit, BPS-Sberbank, this year, Vasili Matiushevsky, the subsidiary’s chairman, said at a press conference in Minsk today.
Moscow-based Sberbank owns 93.27 of the unit, the third- largest commercial lender in Belarus by assets. BPS-Sberbank had its credit grade cut to B- from B with a negative outlook by Standard & Poor’s on Oct. 3, a week after the rating service downgraded Belarus to the same level.
--Editors: Balazs Penz, Douglas Lytle
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