Fitch rises Banks ratings (press-release)

On Friday, February 10, 2006, Fitch Ratings has risen JSSB Belarusbank long-term rating- from CCC+ up to B- (B minus) and short-term rating from C up to B. Support Bank ratings are confirmed at the level of 5. The Individual rating of JSSB Belarusbank is considered to be D/E. The outlook for the Banks ratings is Stable.

The Individual rating of JSSB Belarusbank takes into account the sizable retail customer base, relatively diversified balance structure, and limited trade risks. The substantial increase of capitalization and profitability may become an important positive factor for the Banks solvency. The Long-term and Short-term ratings increase reflects Fitch higher level of confidence in willingness of the government of the Republic of Belarus to provide support to the banks, in case it is necessary. Such change of view took place after consultations with belarusian authorities and receiving from them respective assurance. 

JSSB Belarusbank is the largest bank of the Republic of Belarus. The State owns 99.8% of its shares. The Bank dominates retail banking market in the country; c.60% of all retail deposits in this country are with this bank.

JSSB Belarusbank ratings rise enhances its image not only in the face of its customers but also among its partner foreign financial institutions, reflecting growing reliability of JSSB Belarusbank as a business partner.

(Belarusbank press service tel. +375 (17) 218 85 33)

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