Fitch Affirms Belgazprombank’s Ratings

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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.

Fitch Affirms Belgazprombank’s Ratings

The Negative Outlook reflects Fitch's opinion that the financial position of the Belarusian sovereign weakened significantly during Q410 and the beginning of 2011, and could deteriorate further in the near term.

Belgazprombank’s IDRs and Support Ratings are driven by possible support from this bank's foreign (Russian) shareholders: OAO Gazprom (‘BBB’/Outlook Stable) and its affiliate Gazprombank. When addressing the Bank’s Individual Ratings Fitch underlines the stronger loss absorption capacity at BGPB than at other rated banks, due to higher capital ratios and moderate lending under government programmes.

Fitch Ratings has taken the following rating actions towards Belgazprombank:

Long-term Issuer Default Rating (IDR): affirmed at 'B'; Outlook changed to Negative from Stable 
Short-term IDR: affirmed at 'B' 
Individual Rating: affirmed at 'D/E' 
Support Rating: affirmed at '4'

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.

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

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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.

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.

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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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