Belarusbank's share capital increased by BYR 1 trillion

In accordance with the Order of the President of the Republic of Belarus dated December 27, 2010 "On revision of certain indicators of the national budget for 2010", on December 31, 2010, the share capital of three state-owned Belarusian banks have been increased using the funds of the republican budget. Total volume of state support was equal to BYR 2,060 billion.

 

Thus, the share capital of Belarusbank and Belagroprombank have been increased by BYR 1,000 billion each, the share capital of Belinvestbank has been increased by BYR 60 billion.

 

Thereby, as of 01.01.2011 the share capital of Belarusbank amounted to more than BYR 3 trillion (USD 1,1 billion in equivalent).

 

Technically, the increase of the share capital will be executed by virtue of additional issue of shares and their transfer to the ownership of the Republic of Belarus.

 

The actions taken by the government are intended to strengthen the banking system, support its stability and enable the activities of state-owned banks on both the domestic and international markets.

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