Fitch affirms the ratings of Belgazprombank

Press office.

Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDR) of Belgazprombank at 'B-' with Stable Outlook.

Fitch affirms the ratings of Belgazprombank

Fitch Ratings notes continued strong commitment of the Russian owners of Belgazprombank (jointly owned by OAO Gazprom (BBB-/Negative) and Gazprombank; (BB+/Negative)) to the Belarus market evidenced by provision a subordinated loan in the amount equivalent to USD 150 million to the Bank in the 1st quarter 2015.

Support from the Russian parents has been forthcoming so far and Fitch believes it will be made available in the future in case of need.

In relation to Belgazprombank the rating actions are as follows:
  • Long-term IDR: affirmed at 'B-'; Outlook Stable
  • Short-term IDR: affirmed at 'B'
  • Viability Rating: affirmed at 'b-'
  • Support Rating: affirmed at '5'

On 8 December, 2015 Belgazprombank and Development Bank of the Republic of Belarus signed the agreement on the mutual financing of startup companies.

On November 26, 2015 in Minsk Sergey Shaban, Deputy Chairman of the Board, Belgazprombank, and Levan Zolotarev, Deputy Chairman of the Board, Eximbank of Russia, signed documentation giving rise to full-scale cooperation between the banks in the sphere of financial support of trade between the Russian Federation and the Republic of Belarus.

During the V International Entrepreneurship Forum the Development Bank expressed gratitude to the partner banks for their active cooperation within the program of financial support for small and medium-sized enterprises, initiatives and assistance in creating new mechanisms to support the entrepreneurship.

Belgazprombank and AK BARS Bank (the Russian Federation) realized the first transaction under the insurance cover of the Russian Agency for Export Credit and Investment Insurance (EXIAR). In accordance with the terms of the interbank agreement Belgazprombank attracted funds to finance the project of its customer relating to the purchase of products from a Russian exporter.

Belgazprombank received the award of the Banking Association for Central and Eastern Europe (BACEE) in the annual financial statements competition.

Belgazprombank was granted the prestigious award for the high quality of international payments «STP Award 2014, Excellent quality in the delivery of commercial payments and financial institutions transfers».

On March 17, 2015 in Minsk Sergey Shaban, Deputy Chairman of the Board of Belgazprombank, and Marck Wengrzik, Managing Director of AKA Ausfuhrkredit-Gesellschaft mbH, signed the basic agreement according to which Belgazprombank can attract long-term loan facilities from AKA covered by Euler Hermes and other export credit agencies.

Belgazprombank and Development Bank of the Republic of Belarus signed the agreement on the procedure for interaction within the framework of small and medium-sized businesses financing in 2015.

Belgazprombank attracted a long-term subordinated loan from its shareholders – Gazprom and Gazprombank (Joint – stock Company). The loan facilities were disbursed in Russian rubles in the amount equivalent to 150 million US dollars.

Company `s logo