Standard & Poor's Ratings Services improved its outlooks on JSC Belarusbank

On April 26, 2012, Standard & Poor's Ratings Services improved its outlooks on JSC Belarusbank to «Stable» from «Negative». The 'B-' long- and 'C' short-term counterparty credit ratings were affirmed.

The rating actions follow a similar action on the Republic of Belarus.

The outlook revision on the bank reflects the agencies view that the Belarusian economy has been showing signs of stabilization due to the liberalization of the exchange rate, decline in inflation, and return of deposits to the banking system.

In addition, the Belarusian government has stated its intention to continue providing support to key industrial enterprises. At year-end 2011, the share of systemwide funding received from nonresidents had climbed to 20% of the sector's liabilities.

The stable outlook on Belarusbank reflects the materialization of external funding and the easing of liquidity conditions in the near term.

Further rating actions on the bank could result from changes to the foreign currency sovereign credit ratings on Belarus.

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