Belarusian banks reduce documentary operations by 25.1% in 2020 to $5.404bn
<p> MINSK, Feb 5 - PrimePress. Belarusian banks reduced the volume of documentary operations in 2020 by 25.1% by 2019 to the equivalent of $5.404 billion, the National Bank of Belarus said in a statement. </p> <p> </p> <p> The decrease in the volume of documentary operations was caused by the reduction of operations with bank guarantees. The largest share in the total volume of documentary operations conducted by banks in 2020 is represented by guarantees and letters of credit (56.1% and 43.5%), collection (0.4%). </p> <p> </p> <p> Belarusian banks opened 1.794 thousand letters of credit (import letters of credit) for settlements with non-residents in 2020. 360 letters of credit (export letters of credit) were opened in favour of exporters of Belarus, while 386 letters of credit were used for domestic payments. The volume of transactions involving letters of credit decreased by 0.9% to $2.351bn in 2020. </p> <p> </p> <p> Banks reduced the volume of bank guarantees by 37.1% year on year in 2020 to $3.031bn. Belarusian banks issued domestic guarantees amounting to $527.3 million. International guarantees were issued in the amount of $1.594 billion. International bank guarantees were issued in US dollars, euros, Russian rubles, pound sterling and Kazakh tenge. End </p>
2021-02-06
Primepress
Belarusian banks reduce documentary operations by 25.1% in 2020 to $5.404bn
MINSK, Feb 5 - PrimePress. Belarusian banks reduced the volume of documentary operations in 2020 by 25.1% by 2019 to the equivalent of $5.404 billion, the National Bank of Belarus said in a statement.
The decrease in the volume of documentary operations was caused by the reduction of operations with bank guarantees. The largest share in the total volume of documentary operations conducted by banks in 2020 is represented by guarantees and letters of credit (56.1% and 43.5%), collection (0.4%).
Belarusian banks opened 1.794 thousand letters of credit (import letters of credit) for settlements with non-residents in 2020. 360 letters of credit (export letters of credit) were opened in favour of exporters of Belarus, while 386 letters of credit were used for domestic payments. The volume of transactions involving letters of credit decreased by 0.9% to $2.351bn in 2020.
Banks reduced the volume of bank guarantees by 37.1% year on year in 2020 to $3.031bn. Belarusian banks issued domestic guarantees amounting to $527.3 million. International guarantees were issued in the amount of $1.594 billion. International bank guarantees were issued in US dollars, euros, Russian rubles, pound sterling and Kazakh tenge. End