S&P affirmed Belarusbank’s credit ratings at 'B/B'

S&P affirmed Belarusbank’s credit ratings at 'B/B'

S&P Global Ratings affirmed its «B/B» long- and short-term issuer credit ratings on Belarusbank. The outlook remains negative.

The rating action was carried out on the basis of a stable deposit base of the Bank and ensured quality of assets at a satisfactory level.

The rating agency emphasized Belarusbank’s superior business position in its domestic market. The Bank has the most diverse business profile in Belarus and a market share exceeding 40% of total assets, total loans, and customer deposits. The rating agency believes that Belarusbank’s ability to demonstrate resilient financial performance during the current period of economic turbulence will be very important for it to maintain its superior business position in the medium term.

S&P Global Ratings negative outlook on Belarusbank mirrors that on the sovereign.

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