English

Onerbank sold, CredexBank renamed

US-blacklisted Onerbank has been sold and CredexBank (Credex), accused by the US Treasury Department of money laundering, has been renamed.

On January 22, a 100-percent stake in Onerbank was sold for €5.1 million, said the press office of the Belarusian Currency and Stock Exchange, adding that 15 million shares had been sold at 125.89 percent of their face value.

Onerbank had an authorized capital stock of 46,710 million rubels (more than €11.5 million) at the time of its registration in October 2009.

In August 2010, the US Treasury Department imposed sanctions against Onerbank and another Iranian-owned financial institution in Belarus, Trade Capital Bank, in an attempt to increase pressure over Tehran's controversial nuclear program and its alleged support for radical groups like Hezbollah and Hamas.

Also on Tuesday, the National Bank of Belarus announced that CredexBank would be called InterPayBank.

In May 2012, the US Treasury Department announced that it had identified Credex as "a financial institution of primary money-laundering concern."

The National Bank of Belarus later said that it had conducted a probe and found no evidence to support the accusations. //BelaPAN