Zee Beam News

26.02.2006 - MosNews - Russian banks plan to buy old and create new banks in the European Union, said on Sunday, Feb. 26, head of Association of Russian Banks Garegin Tosunyan. He was speaking in Vilnius, Lithuania. "There are plans not only to acquire, but also to establish new banks in the European zone," Tosunyan said, quoted by the Interfax agency. "Many banks have such plans, and in the next few years we'll see examples of this happening. Most likely, it will happen in Czech republic." The head of the Association also forecasted that Russian banks will become more active in Lithuania. "Lithuania interests our banks, first of all, because there is a minimal language barrier, and well-preserved warm relations which eliminate all barriers for the business. I am convinced that in the next few years we'll see new banks that will come to Lithuania," Tosunyan said.