Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDR) of Belgazprombank at 'B-' with Stable Outlook.
Fitch Ratings remains confident in the support of the Russian shareholders of Belgazprombank (jointly owned by PJSC «GAZPROM» (BBB-/Negative) and Bank GPB (JSC) (BB+/Negative)) in case of need and their commitment to the Belarus market evidenced by provision a subordinated loan in the amount of RUB 9.9 bn in the 1st quarter 2015.
According to the rating agency’s report Belgazprombank is a leader by capital adequacy ratio (end-1H2016) and pre-impairment operating profit (end-2015) among Belarusian banks with Russian ownership within TOP-6 bank ranking by total assets.
At the same time Belarus' Country Ceiling (B-) has a moderate influence on the Bank’s long-term IDR at “B-“ level.
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'
More detailed information can be found at the official website of Fitch Ratings.