Gazprombank: we expect economic recovery in Belarus

Press office.

Bank GPB (JSC) issued a press release following the visit of Gulnara Khaidarshina, Deputy Head of Research Department, to the Republic of Belarus. The release confirms a positive view on economic recovery of Belarus:

Gazprombank: we expect economic recovery in Belarus

“In the run-up to the 5th roundtable conference “Debt Market of the Republic of Belarus” conducted by Cbonds on March 19, we traveled to Minsk and met with the National Bank and the Finance Ministry of the Republic of Belarus. Our meetings were focused on discussion of monetary, debt and fiscal policy, sources for government debt redemption, and the situation on the local FX and money markets. The Minsk meetings underpinned our constructive view on the prospects for economic recovery in Belarus this year.”

In particular, the release reports that representatives of the National Bank of the Republic of Belarus elaborated on operating guidance for monetary policy, emphasized the temporary nature of the accelerating inflation and outlined factors in the stabilization of the local FX market. The meeting with the Ministry of Finance of the Republic of Belarus confirmed the sufficiency of resources to service external public debt in the medium term.

Read the full version of press release (PDF)

The major shareholders of Belgazprombank, PJSC Gazprom and Bank GPB (JSC), extended the subordinated loan provided in equal shares in the total amount of RUB 4.96 bn.

Press office.

On May 25, 2021 Fitch Ratings affirmed Belgazprombank's Long-Term Issuer Default Rating (IDR) at “B” with Negative Outlook, which is the highest rating possible for Belarusian issuers capped by the country ceiling.

The Annual General Shareholders Meeting of Belgazprombank was held on 30 March 2020 in Minsk using a video conference system.

Press office.

Based on performance in January-February 2021, Belgazprombank gained profit of BYN 17.4 mln, which is 4.6 times higher than for the same period of 2020.

Belgazprombank and Bank GPB (JSC) signed the agreement on providing EUR 60 million long-term loan facility in favor of Belgazprombank. The attracted funds will be used to finance the development of small and medium-sized enterprises in the Republic of Belarus.

Press office.

Fitch Ratings has affirmed Belgazprombank's ratings at the highest level possible for Belarusian issuers at present capped by the country ceiling - Long-Term Issuer Default Rating (IDR) at “B”, Negative Outlook.

Since 21 January 2021 Belgazprombank has resumed financing small and medium-sized enterprises in the framework of the Program of financial support to small and medium-sized enterprises implemented by the Development Bank of the Republic of Belarus (hereinafter – the Program).

By the decision of the Board of Directors of Belgazprombank of 15 January 2021 Nadzeya Yermakova was appointed as the Chairman of the Management Board of Belgazprombank starting from 18 January 2021.

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