Belgazprombank attracts subordinated loan from Gazprombank

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December 27, 2011 – Belgazprombank attracted a long-term subordinated loan in the amount of USD 40 mln from its parent Gazprombank. The attraction of this subordinated loan and the inclusion of the respective amounts into the calculation of Tier 2 capital are the first step towards the implementation of the shareholders’ decision on the recovery of the Bank’s capitalization, which has reduced due to the devaluation processes in the Republic of Belarus.

Belgazprombank attracts subordinated loan from Gazprombank

«The attraction of such an impressive amount in an adverse macroeconomic environment is a remarkable event for the Belarusian banking system», - said the Chairman of Belgazprombank’s Board, Viktor Babariko, - «We highly appreciate that our shareholders understand the strategic importance of the Bank’s development as currently we face very ambitious tasks not only on maintaining of the Bank’s competitive positions in the market, but also on extension of the scope of its business aimed at becoming a bank for energy sector which is in line with the activities of Gazprom and Gazprombank in Belarus. The latter is becoming a very topical issue after the purchase by Gazprom of 50% of Beltransgaz’s shares which had been held by the Belarusian government. The expected transfer of the majority of financial operation performed by this leader of the Belarusian economy to Belgazprombank requires forming of new relationship with this largest customer, creation of the necessary financial infrastructure and, of course, the availability of adequate capitalization».

This subordinated loan has become the latest in a series of joint projects of Belgazprombank and Gazprombank in 2011.

In the first half of 2011 within the efforts aimed at strengthening of the Bank’s financial soundness, including the measures mitigating the risks of possible outflow of customer funds due to macroeconomic instability, Gazprombank established a special stand-by liquidity facility in the amount of USD 30 mln. The anti-crisis programme on mitigation of credit and market risks developed by Belgazprombank allowed to avoid the utilization of this facility, however, the timely establishment of this limit evidences the high willingness of shareholders to support their subsidiary bank.

The cooperation in the field of SME finance has been continued: the Bank attracted its next SME loan from Gazprombank in September 2011.

A very significant event was that in November, 2011 Gazprombank practically doubled trade finance limit in favour of Belgazprombank from USD 40 to 90 mln. While many sources and instruments of trade finance have become inaccessible for Belarusian companies, Belgazprombank has obtained an opportunity to support foreign economic activities of its customers all over the world.

The total amount of Belgazprombank’s and Gazprombank’s joint projects implemented in 2011 amounts to USD 125 mln. «Support of shareholders, strengthening and development of cooperation with them allow us not only to increase Belgazprombank’s financial stability, but also to promote integration processes within the Common Free Market Zone of Belarus, Russia and Kazakhstan, allowing the Belarusian enterprises to use their integrational potential more effectively», - notes Viktor Babariko.

The international festival “Theater week with Belgazprombank has triumphantly ended with the play "We are fine" of the legendary Polish director Gjegorz Yazhin.

Press office.

On the 7th of October the International forum of theatre art «ТЕАRТ» started in Minsk within the week of Theatre with «Belgazprombank».

Belgazprombank was recognized by the International Finance Corporation (IFC) as the Most Active GTFP Issuing Bank in Europe and Central Asia for Energy Efficiency. The recognition was awarded on May 25, 2011 at IFC’s Annual GTFP Bank Partners Meeting held in Istanbul. 

The contribution of Gazprom OAO and its affiliates to the authorized capitals of the companies in the banking and financial sectors efficiently facilitate the implementation of production and financial tasks of the concern.

Shareholders from Russia and Belarus met in the hotel “Europe to resume the work in 2010 and to approve the directions of bank development in 2011. These are the representatives of such well-known companies as OJSC “Gazprom, “Gazprombank (OJSC), OJSC “Beltransgaz, JV OJSC “Brestgazoapparat.

Press office.

March, 2011 - Fitch Ratings has affirmed Belgazprombank’s (BGPB) “B Long-Term and Short-Term IDRs, “D/E Individual Rating and “4 Support Rating and revised the Outlook to Negative from Stable.

Minsk, February 23, 2011 – Eurasian Development Bank (EDB) and Belgazprombank signed the the framework agreement for financing of export and import operations performed by Belgazprombank’s customers. The amount of the credit facility is USD 20 mln.

Press office.

Belgazprombank is the winner of the professional competition “The Brand of the Year in the nomination “Socially Responsible Brand (Category “Active Social Position). The solemn awarding ceremony took place on January 21st in the National History Museum.

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