Rating agency Expert RA raised Belgazprombank’s credit rating to “byAAA” from ‘byAA+’ with a stable outlook. The highest possible credit rating reflects the opinion of Expert RA that Belgazprombank has the strongest attainable creditworthiness as measured on the national scale of the Republic of Belarus.
Taking into account the adjustment for country risk, when transferred from the national rating scale of the Republic of Belarus to the national rating scale of the Russian Federation, Belgazprombank’s credit rating has been raised to “ruA-” from “ruВBВ+”, outlook stable.
According to Expert RA, the ratings upgrade is driven by the shift in the assessment of owner support factor as well as by bank’s adequate market share in the Republic of Belarus, comfortable level of capital adequacy and operational efficiency, adequate level of asset quality, comfortable liquidity position and high assessment of bank’s corporate governance system.
The full text of the rating release by Expert RA is available on the agency’s official website.
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Credit rating agency Expert RA, founded in 1997, is currently Russia’s oldest and largest credit rating agency both by customer base and by number of employees. As at 1 June 2024 Expert RA maintained more than 900 credit ratings, including 515 issuer ratings and 409 bond ratings. The agency's ratings are used by government agencies, stock exchanges and other entities of the Russian Federation when making decisions on the placement of financial assets, holding competitions and tenders.
Belgazprombank, established in 1990, is one of TOP-8 Belarusian banks by assets and is recognized as a systemically important bank by the National Bank. High capitalization (as at 1 December 2024 the regulatory capital amounted to BYN 1,1 mln) allows Belgazprombank to implement important country-scale projects, including cross-border projects, and at the same time to expand support for its key client segment – small and medium-sized companies.
