Fitch upgraded Belgazprombank’s Rating

Press office.

Fitch Ratings has upgraded Belgazprombank’s Viability Rating (VR) to ‘b’ from ‘b-‘. It has also affirmed the Long-Term Issuer Default Ratings (IDRs) of Belgazprombank at 'B' with Stable Outlook.

The upgrade of VR reflects Belgazprombank’s track record of more stable asset quality performance and profitability compared to Belarusian peers. Fitch’s view of Belgazprombank’s stronger loan quality is driven by the bank’s consistently low non-performing loans (NPLs, overdue by more than 90 days) and limited restructured loans. 

The affirmation of the IDRs factors into the Fitch’s positive assessment of the high propensity of the bank’s higher-rated Russian parents (PJSC Gazprom (BBB-/Positive) and Gazprombank (Joint – stock Company) (BB+/Positive)) to support their subsidiary due to the strategic importance of the Belarusian market and the tight political and economic ties between the two countries.

At present Belgazprombank’s ratings, whose further upgrade is limited by the country ceiling, correspond to the highest possible level assigned by Fitch Ratings to the financial institutions in Belarus. 

The rating actions are as follows:

  • Long-Term IDRs affirmed at 'B'; Outlook Stable
  • Short-Term IDRs affirmed at 'B'
  • Support Rating  affirmed at '4'
  • Viability Rating: upgraded to ‘b’ from ‘b-’ 

Details on the above rating actions are available on

Dear Customers! Herewith please be kindly informed about the change in the correspondent account number of Belgazprombank for payments in KZT.

Dear Clients! Please be kindly advised of the changes in the list of main Nostro correspondent accounts of Belgazprombank in USD and EUR.

During the meeting in Minsk Belgazprombank and Helaba signed the general agreement on long-term financing of trade projects.
The syndication includes two tranches – 1.5 and 2 years respectively with the option to extend maturity for the same term.

Belgazprombank won the prestigious award from VTB Bank (Europe) SE - "STP Award 2017 Best in Class" for the outstanding quality of processing of commercial payments in euros in 2017. The award was presented to the Settlement Center of Belgazprombank at the ceremony during the 10th Forum held by VTB Bank (Europe) SE in Moscow for its correspondent banks.

On April 23, 2018, Belgazprombank and Export Insurance Company “KazakhExport” signed an Agreement on joint projects. The Agreement introduces a completely new for the Belarusian market instrument of financing of trade projects between the residents of Kazakhstan and Belarus.

The General Meeting of Shareholders of Belgazprombank held in Minsk examined the results for the year 2017. The shareholders appreciated the work of the bank during the past year and the 2017-2020 development strategy adopted previously. Financial results of the bank, its active position on the market, professionalism of its employees and consistency in carrying out its mission all together confirm a high status of Belgazprombank in the banking industry.

In February 2018, Belgazprombank received a new credit line from Bank GPB (JSC) in the amount of EUR 40 mln. The attracted funds will be used for the development of SMEs. Priority will also be given to the financing of property acquisition.
Belgazprombank and the Administration of the China-Belarus Industrial Park Great Stone have signed an agreement on cooperation in order to create favourable conditions for expanding investment, trade-economic and scientific-technical cooperation.
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