Fitch affirms Belgazprombank’s IDR at ‘B’, Outlook Negative

<p> MINSK, Feb 23 - PrimePress. Fitch Ratings has affirmed the long-term issuer default rating (IDR) of Belgazprombank at ‘B’, outlook negative, the bank reports. </p> <p>   </p> <p> Fitch points at the restoration of operational control over Belgazprombank by its main shareholders–Gazprom (BBB/Outlook Stable) and GPB Bank (BBB-/Outlook Stable), each owning 49.82% of the bank’s authorized capital, and, as a result, the end of uncertainty about the bank’s access to parent company’s finances. </p> <p>   </p> <p> Fitch also saw no outflow of deposits. Belgazprombank maintained a sufficient stock of liquid assets. The bank managed to maintain the quality of the loan portfolio, which traditionally demonstrated higher stability compared with the loan portfolios of its competitors. </p> <p>   </p> <p> Thanks to the well-balanced composition of the bank’s assets and liabilities and profitable operations, Belgazprombank managed to secure sufficient reserve of the regulatory capital at the yearend: the regulatory capital adequacy ratio was at 17.9% with the minimal rate of 12% set by the regulator. </p> <p>   </p> <p> Fitch affirmed Belgazprombank’s long-term IDR at ‘B’, outlook negative; short-term IDR at ‘B’; support rating at ‘4’; sustainability rating at ‘B.’ </p> <p>   </p> <p> Belgazprombank OJSC was established in 1990 as an authorized bank of Gazprom Group in Belarus. Russian Gazprom PJSC and Gazprombank JSC own 49.818% stake in Belgazprombank each; Gazprom Transgaz Belarus – 0.266%; the Republic of Belarus represented by the Ministry of Energy of Belarus – 0.097%. Belgazprombank is assigned to the systemic importance Group I. End </p>

2021-02-24

Primepress