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.
In the Fitch’s report key rating drivers consider the recovery of operational control over Belgazprombank by its main Russian owners, PJSC Gazprom (BBB/Stable) and Bank GBP (JSC) (BBB-/Stable), each holding a 49.82% stake, reducing uncertainty over the ownership and the owners’ stance on financial support of the bank.
It is also noted that the deposit outflows have diminished and Belgazprombank has been able to preserve a sufficient supply of liquid assets. The bank’s asset-quality metrics have historically been more resilient than domestic peers’.
As a result of deleveraging and profitable activity Belgazprombank has managed an adequate reserve of regulatory capital as at the end of the year: the total CAR was a reasonable 17.9% against the regulatory minimum of 12%.
Currently Belgazprombank is assigned the following ratings of Fitch Ratings:
- Long-term IDR: at “B”, Outlook Negative;
- Short-term IDR: at “B”;
- Support Rating: at “4”;
- Viability Rating: at “b”.
The full rating report is published at the official site of Fitch Ratings.