Fitch upgrades Belgazprombank to “B”, Outlook Stable

Press office.
Fitch Ratings has upgraded Long-term Issuer Default Rating (IDR) and Support Rating of Belgazprombank to "B" from "B-" and to "4" from "5" correspondingly. The Outlook is Stable.
Fitch upgrades Belgazprombank to “B”, Outlook Stable

The rating action follows the Fitch's upgrade of Belarus’s sovereign Long-term IDRs and Country Ceiling to ‘B’ from ‘B-‘.

At present IDRs of Belgazprombank enjoying support from its higher-rated Russian parents (PJSC Gazprom (BBB-/Positive) and Gazprombank (Joint Stock Company) (BB+/Positive)) is sensitive to the country ceiling and, as Fitch reports, could be further upgraded following the agency’s positive decision towards Belarus in future. 

The rating actions are as follows:

Long-Term Foreign Currency IDRs upgraded to 'B' from 'B-', Outlook Stable

Short-Term IDRs affirmed at 'B'

Support Ratings upgraded to '4' from '5'

Viability Ratings: 'b-', unaffected

For more detailed information see the official website of Fitch Ratings at

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.

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.

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.
Company `s logo