Development of business in the international market was one of the highest priorities of the Belarusbank in 2006. for example, in March and September of 2006, Belarusbank signed syndicated agreements with Bayerishe Landesbank amounting to Euro 38 million and Euro 65 million respectively.
One of the significant achievements of Belarusbank during the elapsed period of 2006 is the fact that in October Belarusbank became the first Belarusian bank to join the International Forfeiting Assotiation. Membership in this organization will enable Belarusbank to obtain limits from the major forfeiting companies – members of the Association and allow to finance more effectively export/import transactions of Belarusbank’s customers. Besides, it allows to extend periods of foreign financing and to reduce its cost as compared with the schemes for financing export contracts with Export Credit Agencies insurance cover.
In addition, in September of 2006 the rating agency Fitch Ratings confirmed Belarusbank’s ratings: long-term rating – “B-”, short-term rating – “B”, individual rating – “D/E”, support rating – “5”. The outlook for the long-term rating remains “Stable”.
A well-known magazine in the field of financing “The Banker” awarded our bank “the Bank of 2006 in Belarus” nomination for the best performance in the banking sector of the Republic of Belarus. The Banker also stated that Belarusbank ranked as 261st largest bank in Europe in terms of total assets.
The Bank also continues to work on the opening of its representative office in China in addition to those which already operate in three countries – in Germany, Poland and Russia.