Fitch Affirms Belgazprombank at "B", Outlook Stable

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

The affirmation of the IDR reflects Fitch's confidence that Belgazprombank’s parents (jointly owned by PJSC «GAZPROM» (BBB-/Positive) and Bank GPB (JSC) (BB+/Positive)) would likely have a high propensity to support their subsidiary, if needed, due to the strategic importance of the Belarusian market and the tight political and economic ties between the two countries. 

Further increase of the Bank’s long-term IDR is capped by Belarus' Country Ceiling ("B"). 

The bank’s "b" VR, which has been affirmed, reflects Belgazprombank's stable and more profitable through-the-cycle performance than that of its peers, its higher loan-quality, as well as its stable and solid levels of core capital. 

The rating actions in relation to Belgazprombank are as follows:

· Long-term IDR affirmed at 'B'; Outlook Stable; 

· Short-term IDR affirmed at 'B';

· Support Rating affirmed at '4';

· Viability Rating affirmed at 'b'.

For more details, please see Fitch Ratings’ webpage at
Belgazprombank 2019 General Shareholders' Meeting held in Minsk
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The bank's 2019 performance results were approved by the General Shareholders' Meeting of Belgazprombank held on 22 March 2019 in Minsk in the conference hall of Hotel "Europe". The bank's activities in 2018 were aimed at achieving the indicators defined by the Strategic Development Plan for 2017-2020.

Belgazprombank is the first to issue cards of international payment system UnionPay
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Belgazprombank became the first bank in Belarus which started issuing cards of international payment system UnionPay. This was announced at the press-conference held on February 21, 2019 at the gallery Art-Belarus, which was attended by the Main Representative of UnionPay International in Russia and Belarus Sasha Fanj, the Deputy Chairman of the Managing Board of Belgazprombank Kiryl Badzei and the Director of Retail Business Development and Support Department Dmitry Furs.

Belgazprombank and Swiss bank entered into funded participation
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The funded participation (consortium) agreement provides for the pooling of resourses provided by Belgazprombank, Gazprombank (Switzerland) Ltd and other foreign investors in order to participate in the funding of Belarusian companies. Purposes for which the loans can be provided are not limited and include, for instance, the financing of working capital, investment projects and trade financing.

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