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_______________________________
Complete list of banks licensed for operations in Belarus is available at the National Bank website |
16/08/2005 BELARUS GROWS NET FOREIGN ASSETS 57.9% IN
JANUARY-JULY 2005 (on the information from Interfax) The value of Belarus’ net foreign assets totalled
$1.362 billion as of August 1, 2005, marking a 57.9% increase against early
2005, says the statistical report of the National Bank of Belarus. In July 2005 net foreign assets grew 4.8% after a
0.1% decrease in June and an 11.8% surge in May. The increase in net foreign
assets was prompted by a 47.2% increase in gross foreign assets to $1.395
billion along with a 61.6% decrease in gross foreign liabilities to $32.6
million. The NBB report mentions, that the volume of net
foreign assets accumulated in freely convertible currencies totalled $1.352
billion as of August 1, 2005, 57.6% up over January-July. The share of soft currencies was equal to an
equivalent of $10.1 million as of August 1 2005, growing 2.1-fold since early
2005. The value of Belarus’ net foreign assets totalled
$862.8 million as of January 1, 2005, marking a 43.5% increase against 2003. 25/03/2005 PRIORBANK
DISTRIBUTES 2004 PROFITS
(on
the information from Interfax) The Priorbank (RZB Group) has assigned the amount of
dividend per common share at BYR 168 and dividend per preference share at BYR
202, as the dividend fund stands at BYR 13.376 billion (58% more than in
2003), reported the chairman of Priorbank’s board Sergey Kostyuchenko during
the stockholders’ meeting on March 24. In 2004 the Priobank had it best in its history. In
particular, the bank’s assets upped by over 50%, credit portfolio – over 70%,
equity capital – by 30%, while return on equity reached 32%, return on assets
- 4%. The Priorbank ranks 3rd among Belarus’ 32
banks in terms of basic activities, being the leader in the year’s profit
(33% of the banking system’s total). Foreign shareholders have become a key to Priobank’s
success this year, as they secured the bank’s entry to overseas financial
markets, Kostyuchenko underscored. The funds of foreign banks account for over 30% of
Priorbank’s resource base, so in 2004 the bank’s borrowings reached ˆ324
million. Reportedly, Priorbank’s net assets increased
1.5-fold in 2004 to BYR 1.709 trillion as of January 1 2005. Return on assets made 4.4% in the twelve-month
period. The bank’s equity capital rose 30% on 2003 to BYR
244.9 billion. The charter capital stood at BYR 102.8 billion, quadrupling
since early 2004. Return on equity grew to 32.6%. Priorbank’s loan portfolio accounted for 61% of the
bank’s total assets and was at BYR 1,044 billion as of January 1, up 70% in
2004. The proportion of problem loans does not exceed 2%. In the loans’ total, investment loans amounted to
BYR 348 billion, up 80% since early 2004. Private loans surged 2.4-fold to BYR 125 billion, as
of January 1. Foreign currency loans granted to individuals amounted to $47.8
million. Deposits with the bank went 34% since early 2004 to
BYR 1,147 billion. The deposits of legal entities amounted to BYR 456 billion
(40% of the resource base), individuals – BYR 154 billion (13%). Interbank resources account for 47% of the bank’s
resource base. As of January 1, the after-tax profit of the bank
amounted to BYR 61.7 billion, 54.3% up on 2003. In 2004 Priorbank was servicing over 505 thousand
clients, including over 10 thousand enterprises and institutions. 21/03/2005 BELARUSIAN BANKS BOOST NET ASSETS 0.8% IN
JANUARY-FEBRUARY 2005
(on
the information from Interfax) Belarusian banks saw their net assets grow by 0.8%
in January-February 2005, totalling BYR 7.559 trillion, says a statistical
report of the National Bank of Belarus. In January-February 2005 the net foreign assets of
the Belarusian banks shrank 38.4% to minus $222.5 million, net domestic
assets totalling BYR 8.04 trillion (2.4% up), as of March 1. The Belarusian banks increased the overall volume of
their combined credit portfolio by 2.8% to the equivalent of BYR 10.195
trillion. Since early 2005 the volume of BYR loans issued by
Belarusian banks has grown 2.8% to BYR 5.714 trillion, while their share in
the total of loans made 56% as of March 1, remaining unchanged since early this
year. The share of problem loans of Belarusian banks stood
at 3.56% as against 2.9% in early 2005. As of March 1 2004, the registered statutory fund of
the Belarusian banks amounted to BYR 2.161 trillion, remaining unchanged
since early this year. The equity capital of the Belarusian banks went 15% up
to BYR 3 trillion, as of March 1 2005. BYR deposits grew 3% to BYR 4.067 trillion,
including deposits of individuals – BYR 2.634 trillion (12.6% up),
institutions – BYR 1.433 trillion (11% down). The foreign currency deposits shrank 0.8% to the
equivalent of BYR 3.399 trillion, including deposits placed by individuals –
BYR 1.798 trillion million (4.3 down), institutions – BYR 1.601 (3.5% up). The after-tax profit of the Belarusian banks in
January-February 2005 totalled BYR 29.5 billion, 15.7% up on 2004. Gross
revenues of banks in January-February made BYR 511.3 billion, expenditures –
BYR 481.7 billion (respectively 27.9% and 28.7% up on year). 18/03/2005 BELARUSBANK TO FLOAT EMV PLASTIC CARDS IN H1
(on
the information from Interfax) Belarusbank plans to become the first Belarusian
bank to issue smart VISA plastic cards based on EMV chips in H1 2005, the
Head of the Plastic Cards Processing Centre Anatoli Bogovik has informed. He noted, during the first stage the issuance of the
plastic cards will decrease the risks while carrying out financial operations
abroad, as "chip cards are known to be much harder to crack in
comparison with cards using magnetic strips". Apart from usual information smart cards can be
uploaded with additional information to increase the usability. Such cards
can be used as part of loyal customer systems (shopping discounts), access
cards to restricted areas, payphone cards, season tickets, etc. When a client
accesses the bank's mainframe during any financial operations, a smart card
can be uploaded with a new application. Initially Belarusbank plans to install loyal client
applications in smart cards, and, if corporate clients are interested, the
bank is ready to develop other applications, for example, for payments at
corporate canteens. The issuance of smart cards does not mean old
magnetic strip cards have insufficient protection. Bogovik said, the bank
guarantees the security of client's money, if the client keeps to plastic card
handling regulations. At all times during any operation the bank uses
protected information exchange algorithms. Bogovik reminded, last year Belarusbank was one of
the first Belarusian banks to pass chip card handling certification. Today all bank's terminals can work with any type of
VISA cards issued by any bank of the world. Last year Belarusbank doubled emission of plastic
cards to make it 1.24 million items as of January 1 2005. As of March 1 2005
there were 1.315 million plastic cards issued by Belarusbank, 60% of the
total number of plastic cards in Belarus. In 2005 Belarusbank plans to issue
at least 0.5 million cards. MasterCard and Visa cards account for the
majority of Belarusbank cards. In 2004 card turnover made Belarus 2.7
trillion, almost 200% up on 2003. Today Belarusbank has 466 ATMs, 960 cash dispensers,
600 payment terminals, 203 information stalls. 17/03/2005 BELAGROPROMBANK
RAISES NET ASSETS 3.1% TO BYR 2.125 TRILLION IN JANUARY-FEBRUARY
(on the
information from Interfax) Belagroprombank OJSC increased net assets by 3.1% in
January-February 2005 to BYR 2.125 trillion. Over the period in question, the equity capital of
Belarus’ second largest bank grew 1.9% to BYR 1.043 trillion. As of March 1, the statutory fund of the bank made
BYR 887.8 billion, remaining unchanged since the beginning of the year. As of March 1, the bank’s credit portfolio made BYR
1.742 trillion, 2.8% up. The volume of attracted deposits grew 3.9% to BYR
1.051 trillion. Individual deposits rose by 11.9% to BYR 440.4 billion. In January-February 2005 the bank’s balance profit
amounted to BYR 3.365 billion, 3.8 times up on the corresponding period of
2004. Belagroprombank OJSC was founded in September 1991.
State share of the collective investment fund is 99%. At present,
Belagroprombank is the second biggest financial institution among the 32
Belarusian banks in terms of gross assets. BELARUS GROWS NET FOREIGN ASSETS 17.5% IN
JANUARY-FEBRUARY 2005
(on the
information from Interfax) The value of Belarus’ net foreign assets totalled
$1,014 million as of March 1 2005, marking a 17.5% increase against December
2004, says a statistical report of the National Bank of Belarus. In February 2005 net foreign assets grew 28% after a
4.3% drop in January. The increase in net foreign assets was prompted by a
13% increase in gross foreign assets to $1.071 billion along with a 32.3%
decrease in gross foreign liabilities to $57.5 million. The NBB report mentions, the volume of net foreign
assets accumulated in freely convertible currencies totalled $1.005 billion
as of March 1 2005, 17.1% down over January-February. The share of soft currencies was equal to an
equivalent of $9.1 million as of March 1 2005, growing twofold since early
2005. The value of Belarus’ net foreign assets totalled
$862.8 million as of January 1 2005, marking a 43.5% increase against 2003. 16/03/2005 DEPOSITS
IN BELARUS’ BANKS UP 1.2% TO BYR 7.466 TRILLION IN JANUARY-FEBRUARY
(on
the information from Interfax) The total volume of deposits placed in Belarusian
banks by individuals and juridical persons went up by 1.2% in
January-February 2005, totalling to BYR 7.466 trillion as of March 1 2005,
reported the National Bank of Belarus. The share of national currency deposits in
January-February made 54.5% against 53.5% as of January 1 2005. BYR deposits
in nominal terms upped 3% to BYR 4.067 trillion. The deposits of legal
entities stood at BYR 1.433 trillion (11% down on two months), while
individuals' ones – BYR 2.634 trillion (12.6% up). The share of short-term deposits made 31.5% of the
total amount of deposits as of March 1 against 29.5% as of January 2005. The foreign currency deposits dropped 0.8% to the
equivalent of BYR 3.399 trillion in January-February, including BYR 1.798
billion of deposits of legal entities (4.3% down) and BYR 736.2 million (3.2%
up) of individuals’ deposits. Individuals increased their deposits by 9% to BYR
4.235 trillion in January-February, while companies cut down their by 7.4% to
BYR 3.23 trillion. In 2004 bank deposits of individuals and
organizations increased by 48.3% to BYR 7.375 trillion. BYR deposits grew by
74% to BYR 3.949 trillion, while foreign currency deposits rose 25.9% to the
equivalent of BYR 3.426 billion. 10/03/2005 National Bank of
Belarus CUTS REFINANCING RATE
(on
the information from Interfax) Starting from
March 10, 2005 the National Bank of Belarus (NBB) reduces the key refinancing
rate to 16% down from 17%, the NBB informed in a press release. The NBB Board
took a decision to cut the key rate straight by 1% due to the evident
slowdown in the rate of inflation and, consequently, the increasing level of
trust to the national currency. According to the
Ministry of Statistics, in January the Consumer Price Index (CPI) made 0.7%. The rate of
inflation was the same in the first three weeks of February, which is lower
than forecasted. The press release says, another cut in the
refinancing rate, “as before, makes it possible to protect BYR deposits of
individuals from depreciation, especially fixed-term ruble deposits”.
Besides, with the key rate reduced, BYR deposits will still remain more
appealing than banking deposits in foreign currencies. The low refinancing
rate protects ruble deposits of individuals from depreciation, reduces the
loan interest rates and make loans more affordable for individuals and
institutions. By late 2005 the
NBB refinancing rate is expected to go down to 9-12% per annum. Throughout 2004 the NBB reduced the refinancing rate
from 27% to 17% per annum (as of September 20 2004). BELARUS GROWS GOLD, FOREIGN CURRENCY RESERVES IN
JANUARY-FEBRUARY
(on
the information from Interfax) Belarus’ aggregate gold and foreign currency
reserves (calculated under domestic standards) have grown 14% in
January-February 2005 to reach $1.193 billion as of March 1 2005, reads the
Statistics Report by the National Bank of Belarus (NBB). Belarus saw its gold and foreign currency reserves
grow 5.1% in February 2004 after a 20.1% dive in January. As reported by the NBB, in January-February 2005
foreign currency deposits grew 19.6% down to $897.8 million, gold – shrinking
by 14.4% to an equivalent of $126.2 million (27.9% up since early 2005).
Other reserves accounted for $126.2 million as of March 1 2005, 27.9% up
since early 2005. In the meantime, Belarus’ international reserve
assets (calculated in compliance with the IMF Special Data Dissemination
Standard) went up by 23.2% over the two-month period to make $949.1 million
as of March 1 2005. Under the SDDS, in February Belarus upped its gold and
foreign currency reserves by 37% on the month after a 10% drop in January. According to the NBB, the foreign currency reserves
of non-residents grew 21.7% to $839.9 million, monetary gold reserves – grew
36.4% to an equivalent of $108.3 million. The guidelines of the monetary and credit policy for
2005 provide for their $620-680 million growth within the year. By the year
2010 the NBB is planning to grow its gold and foreign currency reserves up to
$3 billion. Now the NBB has 20.1 tonnes of gold in stock. The National Bank of Belarus started calculating the
gold and forex reserves according to the IMF pattern since April 1, 2004. The
official reserve assets reflect the supply of highly liquid short-term assets
placed with non-residents that can be used operatively. Other assets are less
liquid and can be placed with residents, as well. Belarus’ aggregate gold and foreign currency
reserves (calculated under domestic standards) have grown 17.1% in 2004 to
reach $1.047 billion. Belarus’ international reserve assets (calculated in
compliance with the IMF Special Data Dissemination Standard) went up by 54.4%
over the year to make $770.2 million as of January 1, 2005. 09/03/2005 BELPROMSTROIBANK GROSS ASSETS
UP IN JANUARY-FEBRUARY
(on
the information from Interfax) Belpromstroibank’s gross assets grew by 0.2% in
January-February 2005 to BYR 2.142 trillion. The bank’s equity capital
shrank by 0.3%, bringing the total to BYR 147.2 billion. The
authorised stock stood at BYR 46.7 billion as of February 1, remaining
unchanged since early this year. Deposits of institutions
totalled BYR 394.7 billion, down 15.5% on month. At the same time, deposits
of individuals increased by 3.7% in the period to BYR 876 billion. Loans issued by the bank in
January 2005 amounted to BYR 845 billion, 7.6% up since late 2004. Corporate
loans grew 8% to BYR 800.9 billion. The bank’s balance profit
amounted to BYR 2.6 billion, twofold up on the year. The National Bank of Belarus
registered Belpromstroibank on December 28 1991. Reportedly, Belpromstroibank
ranks 4th among the 32 Belarusian banks in terms of gross assets. 04/03/2005 BELARUSBANK increases ASSETS
IN JANUARY
(on
the information from Interfax) Belarus’ largest
bank of commerce Belarusbank raised its assets by 2.5% in January 2005 to BYR
6.424 trillion. The bank’s equity
capital grew 1.8% to compare with early 2005 to BYR 863.9 billion as of
February 1. The bank’s charter
capital stood unchanged at BYR 766.4 billion. Euro equivalent of the charter
capital rose by 4.3% to ˆ270.7 million. In January 2005
Belarusbank attracted BYR 4.439 trillion in deposits or 3.4% up on the year.
Deposits of individuals grew 12.2% to a total of BYR 2.542 trillion, with BYR
savings up by 15.2% to BYR 1.684 trillion. The bank accumulates more than 60%
of BYR deposits of Belarusian citizens. Belarusbank’s loan
portfolio went 0.8% up in January up to BYR 4.542 trillion as of February 1,
2005. Corporate loans decreased by 0.4% to BYR 2.81 trillion, while loans to
individuals grew 2.2% to BYR 1.639 trillion. Pre-tax profit of
the bank made BYR 338.1 million or 87% down on the year. Belarusbank was
founded in July 1991 and merged with Sberbank in October 1995. The state
holds about 99% of the bank’s chartered capital. Belarusbank ranks
first among 32 Belarusian banks in terms of gross assets. 25/02/2005 COMMERZBANK
TO PROMOTE BELARUSBANK BONDS TO EUROPEAN MARKET
(on
the information from Interfax) Commerzbank AG will render technical assistance in
promoting corporate bonds of Belarusbank to the European equity market,
informed deputy Chairman of Belarusbank board Vladimir Novik, commenting upon
the results of the meeting of the bank’s leadership with financial
institutions department director of Commerzbank AG (Frankfurt am Main) Peter
Hennig. “The sides have agreed that Commerzbank will render
technical assistance in pushing the Belarusbank corporate loans to the European
financial markets,” Novik said. In late 2004 Belarusbank was the first to float
corporate bonds for individuals. In 2005 they are hoping to successfully float corporate bonds in Europe. Vladimir Novik also stated, Commerzbank suggested issuing ˆ20 million worth of
long-term loans to Belarusbank for crediting investment projects of
Belarusian companies. In the near future the sides are planning to conclude a
framework agreement on loan terms. Besides,
Commerzbank will boost Belarusbank’s limit for covering trade finance, which
currently amounts at ˆ5 million, Vladimir Novik added. Belarusbank
experts will also have a chance to undergo training at Commerzbank, he
said. Belarusbank is
Belarus’ largest commercial bank. Belarusbank was founded in July 1991 and
merged with Sberbank in October 1995. The state holds about 99% of the bank’s
chartered capital. Belarusbank ranks first among 32 Belarusian banks in terms
of gross assets. In 2004 Belarusbank
raised gross assets by 42.8% in 2004 to BYR 6.267 trillion. The bank’s equity
capital grew by 24.9% in 2004 to BYR 848.5 billion. The bank’s charter
capital grew 40.2% to a total of BYR 766.4 billion with BYR 172 billion of
budget funds, which were allocated in December 2004. Euro equivalent of
the charter capital rose by 27.8% to ˆ259.5 million. Belarusbank’s loan
portfolio went 46.8% in 2004 up to BYR 4.504 trillion as of January 1, 2004.
Corporate loans increased 35.3% on the year to BYR 2.822 trillion, while
loans to individuals grew 77.5% on the year to BYR 1.603 trillion. Pre-tax profit of
the bank made BYR 34.34 billion or 4.7% up on the year. Belarusbank has
accumulated over 60% of private deposits. Over 55% of plastic bank cards
circulating in Belarus were issued by Belarusbank. Besides, Belarusbank is planning to raise its equity
capital by 40.7% by the end of the year to reach BYR 1.194 trillion. The bank’s strategic goals for 2005 are a 21%
increase in the statutory fund (up to BYR 927 billion), a 20% increase in net
assets (up to BYR 7.5 trillion). Besides, Belarusbank is planning to increase
its credit portfolio by 30% year on year to reach BYR 5.7 trillion (including
ruble loans – BYR 3.3 trillion, foreign currency loans - $1.1 billion). The government has challenged the bank with luring
at least $250 million in foreign credit resources in 2005. Besides, the bank is planning to double the coverage
of import/export transactions by Belarusian enterprises to the tune of $150
million. In early February Fitch Ratings improved Belarusbank’s rating
assigning the bank Individual “D/E”. The agency affirmed Belarusbank’s Long-term “CCC+”;
Short-term “C”; Individual “D/E”; and Support “5”. Commerzbank stays among Germany’s biggest banks. As
of December 31, 2004, the bank’s assets exceeded ˆ4242 billion, equity
capital – ˆ17.6 billion. 24/02/2005 Belorusski
Industrialny Bank says net assets up 10.6% Jan
MINSK, Feb 23 (Prime-Tass) -- The net assets of
Belorusski Industrialny Bank, Belarus’ sixteenth largest bank, rose 10.6% in
January to 54.1 billion Belarusian rubles as of February 1, an official with
the bank told Prime-Tass Wednesday. The bank’s loan portfolio amounted to 24 billion
Belarusian rubles as of February 1, up 7.2% from January 1. Belorusski Industrialny Bank’s equity capital rose
0.6% in January to 16.1 billion Belarusian rubles as of February 1. The bank’s borrowed funds stood at 37.7 billion
Belarusian rubles as of February 1, up 15.2% in January. The pre-tax profit of the bank amounted to 102.5
million Belarusian rubles as of February 1, flat on the year. Belorusski Industrialny Bank is the assignee of
Profbank, which was registered on October 30, 1991. The bank’s holders are
private trade and industrial companies. Foreign holders own about 31.7% in
the bank. The balance sheet profit
of Belorusski Industrialny Bank rose 16.8% on the year in 2004 to 1.495
billion Belarusian rubles. The bank’s net assets rose 11.1% on the year in
2004 to 48.9 billion rubles. The bank’s loan portfolio amounted to 22.4
billion Belarusian rubles as of January 1, 2005, up 14.2% from January 1,
2004. End (2,163 Belarusian rubles – U.S. $1) 23/02/2005 Belarusian
banks’ bad loans’ share up to 3.2% as of Feb 1, 2005
MINSK, Feb 22 (Prime-Tass) -- The share of bad loans
in the loan portfolio of Belarus’ banks increased to 3.2% as of February 1,
2005, from 2.9% as of January 1, 2005, according to the statistical bulletin
of the National Bank of Belarus (NBB)’ central payment balance and banking
statistics department, obtained by Prime-Tass Tuesday. The total volume of bad loans, including extended,
overdue and doubtful loans, increased 11.5% in January to 295.6 billion
Belarusian rubles. Of the total amount of bad loans, private companies
amounted to 169.1 billion Belarusian rubles, up 11.7% from January 1, and
state companies reached 124.9 billion rubles, up 11.7%. Individuals’ share of bad loans was at 1.5 billion
Belarusian rubles, down 16.7% from January 1, 2005, and non-banking companies
at 0.1 billion rubles, unchanged from early this year. Thus, out of the total amount of bad loans,
companies accounted for 99.5%, while individuals accounted for the remaining
0.5%. Belarusian banks’ loan portfolio, excluding factoring,
leasing and promissory notes operations, increased 1.4% in January 2005 to
the equivalent of 9.227 trillion Belarusian rubles as of February 1, 2005.
End (2,165 Belarusian rubles – U.S.
$1) NBB
renames Infobank into Trustbank
MINSK, Feb 22 (Prime-Tass) -- The National Bank of
Belarus (NBB) has renamed Belarus’ twelfth bank Infobank into Trustbank, the
NBB’s information department said in a statement Tuesday. According to the Trustbank’s press service, the
decision to rename the bank was made at an extraordinary meeting of
shareholders in January 2005. The main reason for the bank’s renaming were changes
in the bank’s stock capital and development strategy. In accordance with the new strategy, the key
activity of the bank would be trust services. Infobank was set up in November 1994. The bank
services financial flows from Belarus to Iraq, Libya, Iran and other Middle
East countries. The balance sheet profit of Infobank decreased 69.3% on the
year in 2004 to 380 million Belarusian rubles as of January 1, 2005. Infobank’s total assets rose 13.9% in 2004 to 162.1
billion Belarusian rubles. The bank’s loan portfolio amounted to 60.5 billion
Belarusian rubles as of January 1, 2005, up 13.1% from January 1. End (2,165
Belarusian rubles – U.S. $1) Belarus’
Technobank’s gross assets down 5.4% in Jan
MINSK, Feb 22 (Prime-Tass) -- The gross assets of
Belarus’ thirteenth largest bank Technobank decreased 5.4% on the year in
January to 129.6 billion Belarusian rubles as of February 1, a bank
representative told Prime-Tass Tuesday. The bank’s own capital increased 1.8% in January to
30.2 billion Belarusian rubles as of February 1. Technobank’s charter capital
remained unchanged at 19.985 billion Belarusian rubles as of February 1. Technobank’s borrowed funds amounted to 60.5 billion
Belarusian rubles as of February 1, down 7.3% in January. The bank’s loan portfolio went up 1.2% in January to
41.353 billion Belarusian rubles. Corporate loans increased 1.4% to 39.459
billion Belarusian rubles, while loans to individuals fell 2.3% to 1.894
billion Belarusian rubles. Technobank’s profit declined 66.7% on the year in
January to 41.3 million Belarusian rubles as of February 1. The National Bank of Belarus registered Technobank
on August 5, 1994. Belarusian individuals hold around 69.5% in the bank,
while foreign investors have a stake of 30.5% in the bank. (2,165 Belarusian
rubles – U.S. $1) End 21/02/2005 NBB
cuts interest rates on overnight, lombard loans for banks Monday
MINSK, Feb 21 (Prime-Tass) -- The National Bank of
Belarus (NBB) reduces interest rates for Belarusian banks on resources
available for refinancing starting Monday, a source in the NBB’s information
department told Prime-Tass Monday. The overnight loan interest rate is reduced to 23%
from 24%. If the loan is repaid ahead of the appointed time (on the day of
issue), the NBB does not charge payment for the loan. The NBB also reduces the interest rate on lombard
loan (loan on securities) to 23% from 24%. In case the loan is repaid on the
day of issue, the bank is to pay the NBB the initial interest rate on the
loan. The NBB last changed interest rates on December 6,
2004. NBB’s refinancing rate was last reduced on September 20 to 17% from
18%. End Belarus
banks’ loan portfolio up 1.4% to 9.227 tln rbl in Jan
MINSK, Feb 21 19 (Prime-Tass) -- Belarusian banks’
loan portfolio, excluding factoring, leasing and promissory notes operations,
increased 1.4% in January to the equivalent of 9.227 trillion Belarusian
rubles as of February 1, 2005, according to the statistical bulletin of the
National Bank of Belarus (NBB)’s central payment balance and banking
statistics department. Banks’ foreign currency loans increased 2.4% in the
period to the equivalent of 4.082 trillion Belarusian rubles as of February
1, 2005, while loans issued in Belarusian rubles in the period rose 0.7% in
January to 5.145 trillion Belarusian rubles. Of the total loan portfolio, loans issued to private
companies rose 0.7% in January to 4.491 trillion Belarusian rubles, while
loans issued to state companies stood at 2.726 trillion as of February 1,
2005, up 2.4% in January. Loans to individuals went up 2.3% to 1.971 trillion
Belarusian rubles. Non-banking loans amounted to 38.8 billion Belarusian
rubles, down 17.1% from January 1. Of the loans to companies, the share of short-term
loans went up to 57.7% as of February 1, 2005 from 57% as of early 2005,
while the share of long-term loans decreased to 42.3% from 43%. Of the loans to individuals, 66.2% were issued for
the purchase of real estate, up 0.3 percentage points in January, while the
share of consumer loans went down to 33.5% as of February 1, 2005 from 33.8%
as of January 1, 2005. In 2004 Belarusian banks’ loan portfolio, excluding the
share of factoring, leasing and promissory notes operations increased 63.3%
to 9.097 trillion Belarusian rubles. End (2,165 Belarusian rubles – U.S. $1) Belarus’
overdue corporate debt to foreign cos down 3.9% in 2004
MINSK, Feb 21 (Prime-Tass) -- Belarus’ overdue
corporate debt to foreign companies decreased 3.9% in 2004 to the equivalent
of U.S. $313.1 million as of January 1, 2005, an official with Belarus’
Statistics Ministry told Prime-Tass Monday. Belarus’ overdue corporate debt to Russian companies
declined 17.3% in the period to $152.8 million, while overdue corporate debt
to companies based in other CIS countries decreased 13.6% to $8.4 million. Belarus’ overdue corporate debt to foreign companies
outside the CIS increased 15.6% in 2004 to $151.9 million. Overdue corporate debt of foreign companies to
Belarus-based companies increased 0.7% from the beginning of the year to
$115.5 million. At the same time, the debt of foreign companies declined
14.6% on the month in December. Russia’s overdue corporate debt to Belarusian
companies stood at $61 million as of January 1, up 13.4% up 13.4% in 2004,
while other CIS countries’ overdue corporate debt to Belarusian companies
totaled $14.6 million, up 34%. Non-CIS companies’ overdue debt to Belarusian
companies declined 20.2% from January 1, 2004, to $39.9 million as of January
1, 2005. Belarus’ overdue foreign corporate debt was 170%
higher than the debt to Belarusian companies as of January 1. End Belarusians’
real money income up 13.6% on year in 2004
MINSK, Feb 21 (Prime-Tass) -- Belarusians’ total
money income rose 13.6% on the year in 2004 to 35.5 trillion Belarusian
rubles in real terms as of January 1, 2005, an official with Belarus’
Statistics Ministry told Prime-Tass Monday. Of the total income, wages accounted for 49.3% as of
January 1, up from 46.9% in 2003. Entrepreneurial activity income accounted
for 31.2%, down from 33.9%. The share of social transfers declined in the period
to 18.1% as of January 1, up from 17.7%, while property income went down to
1.4% from 1.5%. The total population’s spending and savings amounted
to 35.3 trillion Belarusian rubles in 2004. Of the amount, 72.9% was spent on
goods and services, 9.7% was spent on taxes and voluntary contributions, and 17.4%
was invested into savings and foreign currency. Belarus’ average wage amounted to 435,000 Belarusian
rubles in December, up 8.4% on the month and 26.5% on the year in real terms.
The average salary in the industrial sector was at
466,000 Belarusian rubles, in agriculture 228,000 rubles, in healthcare
435,000 rubles and in education 378,000 rubles. The average pension amounted to 172,600 rubles, or
90.5% of the minimal subsistence level for pensioners. Pensions decreased
2.1% in real terms on the month in December, but rose 32.4% on the year.
(2,165 Belarusian rubles – U.S. $1) End 17/02/2005 Belarus’
net foreign assets down 4.3% on mo in Jan to $826 mln
MINSK, Feb 17 (Prime-Tass) -- The net foreign assets
of the Belarusian government and National Bank of Belarus (NBB) amounted to
U.S. $826 million as of February 1, down 4.3% on the month in January,
Belarus’ monetary authorities said in a statistical report Thursday. The decrease was due to the decline in gross foreign
assets by 6.4% on the month in January to $886.7 million and decline in
foreign liabilities by 28.5% to $60.7 million. Net foreign assets placed in hard currency amounted
to $799.7 million as of February 1, while soft currency assets were at the
equivalent of $26.3 million. In 2004 Belarus’ net foreign assets rose 43.5% on
the year to $862.8 million. In March, the NBB recalculated net foreign assets
starting January 1, 2004, accounting monetary gold at the market price
instead of the acquisition price. The NBB’s precious metals reserves in gold
equivalent stood at about 20.1 tonnes as of early February, flat from late
October 2004. End Belarus
companies’ ruble bank deposits dn 13% in Jan
MINSK, Feb 17 (Prime-Tass) -- Belarusian companies’
deposits with domestic banks were at 1.4 trillion Belarusian rubles as of
February 1, down 13% on the month in January, an official with the National
Bank of Belarus (NBB)’s information department told Prime-Tass Thursday. In December, ruble deposits rose 16.9%, the official
said. Companies’ foreign currency deposits were at U.S.
$837.4 million as of February 1, down 3.3% in January. Foreign currency
deposits rose 3% on the month in December. In 2004, Belarusian companies’ ruble deposits rose
46.5% on the year to 1.610 trillion Belarusian rubles, while foreign currency
deposits increased 21.4% to $865.7 million. End (2,167 Belarusian rubles –
U.S. $1) BFSE
sets new parameters for USD/BLR, EUR/BLR futures
MINSK, Feb 17 (Prime-Tass) -- The Belarusian Foreign
and Stock Exchange (BFSE) has set new parameters for futures contracts on the
rate of the Belarusian ruble against the euro and U.S. dollar currently in
circulation, the BFSE said in a press release Thursday. The estimated price on futures contracts on the rate
of the Belarusian ruble against the dollar with the settlement date on March
15 has been set at 2,175 Belarusian rubles with price variation limit at 23
rubles, on April 15 – 2,180 rubles (25 rubles), on May 16 – 2,190 rubles (27
rubles), on June 15 – 2,195 rubles (29 rubles), on July 15 – 2,200 rubles (31
rubles) and August 15 – 2,205 rubles (33 rubles). One U.S. dollar buys 2,167 Belarusian rubles on
February 17. The estimated price on futures contracts on the rate
of the Belarusian ruble against the euro with the settlement date on March 15
has been set at 2,828 Belarusian rubles with price variation limit at 90
rubles, on April 15 – 2,834 rubles (100 rubles), on May 16 – 2,847 rubles
(110 rubles), on June 15 – 2,854 rubles (120 rubles), on July 15 – 2,860
rubles (125 rubles) and August 15 – 2,867 rubles (130 rubles). One euro buys 2,826.85 Belarusian rubles on February
17. Deals with futures are not regular enough to draw
the tendencies of the market The BFSE started trading futures contracts on the
rate of the Belarusian ruble against the euro and U.S. dollar in October
2004. End Belarus’
Belinvestbank says pre-tax profit dn 14% on yr in Jan
MINSK, Feb 17 (Prime-Tass) -- The balance sheet
profit of Belinvestbank, Belarus’ fourth largest bank, amounted to 906 million
Belarusian rubles in January, down 14% on the year, an official with the bank
told Prime-Tass Thursday. The bank’s gross assets edged down 0.1% from January
1, to 1.043 trillion Belarusian rubles as of February 1. The bank’s loan
portfolio rose 2.3% from January 1 to 741.6 billion Belarusian rubles. Belinvestbank’s equity declined 0.1% in January to
111.8 billion Belarusian rubles as of February 1, 2005. The bank’s charter
capital has remained unchanged at 54.6 billion Belarusian rubles. The bank’s borrowed funds stood at 931.6 billion
Belarusian rubles as of February 1, down 0.05% from January 1. Corporate
deposits declined 8.6% in January to 406.4 billion Belarusian rubles, while
individual deposits rose 6.5% in the period to 291.8 billion rubles. Belinvestbank was created in 2001 following a merger
between Belbiznesbank and Belarusian Development Bank. The state and
government-related shareholders hold a stake of more than 50% in the bank,
including the National Bank of Belarus with 41.7%. End (2,167 Belarusian rubles – U.S. $1) Belarus
Infobank’s pre-tax profit dn 93.8% on year in Jan
MINSK, Feb 17 (Prime-Tass) -- The balance sheet
profit of Infobank, Belarus’ thirteenth largest bank, decreased 93.8% on the
year in January to 15 million Belarusian rubles as of February 1, a
representative with the bank told Prime-Tass Thursday. Infobank’s total assets declined 6.2% in January to
152.1 billion Belarusian rubles. The bank’s loan portfolio amounted to 60.4
billion Belarusian rubles as of February 1, down 0.2% from January 1. The bank’s equity capital declined 1.3% in the
period to 29.5 billion Belarusian rubles as of February 1. Infobank’s charter
capital was at 14.5 billion Belarusian rubles as of February 1, flat from
early this year. The bank’s borrowed funds stood at 27.7 billion
Belarusian rubles as of February 1, up 8.2% in January, including private
accounts at 16 billion Belarusian rubles, up 8.8% in the period. Infobank was set up in November 1994. The bank
services financial flows from Belarus to Iraq, Libya, Iran and other Middle
East countries. Infobank’s balance sheet profit decreased 69.3% on
the year in 2004 to 380 million rubles. The bank’s total assets rose 13.9% to
162.1 billion rubles and the loan portfolio amounted to 60.5 billion
Belarusian rubles as of January 1, up 13.1% in 2004. End (2,167 Belarusian
rubles – U.S. $1) 16/02/2005 Belvnesheconombank
says pre-tax profit up 52.6% on year in Jan
MINSK, Feb 16 (Prime-Tass) -- The balance sheet profit
of Belarus’ Belvnesheconombank (BelVEB)’s, Belarus’ sixth largest bank, rose
52.6% on the year in January to 1.352 billion Belarusian rubles as of
February 1, an official with the bank told Prime-Tass Wednesday. The bank’s gross assets went up 2.1% in January to
923.5 billion Belarusian rubles as of February 1. The bank’s loan portfolio
amounted to 418.7 billion Belarusian rubles as of February 1, down 1.4% from
January 1. BelVEB’s equity capital rose 0.7% in January to 72.3
billion Belarusian rubles as of February 1. The bank’s charter capital was at
24.141 billion Belarusian rubles as of February 1, flat in January. Individual deposits in BelVEB stood at 177.2 billion
Belarusian rubles as of February 1, up 1.3% from January 1. The National Bank of Belarus (NBB) registered BelVEB
in December 1991. NBB holds about 27% in the bank, while Russia’s National
Space Bank holds around 29% in the bank. End (2,168 Belarusian rubles - U.S.
$1) Belarus
ITI-Bank’s net assets up 4.2% on year to 223.8 bln rbl in Jan
MINSK, Feb 16 (Prime-Tass) -- The net assets of
Belarus’ eighth largest bank International Trade and Investments Bank
(ITI-bank or Mezhtorgbank) rose 4.2% on the month in January to 223.8 billion
Belarusian rubles, the bank told Prime-Tass Wednesday. The bank’s equity stood at 35.4 billion rubles as of
February 1, 2005, up 0.6% in January. ITI-Bank’s corporate and individual deposits stood
at 55.1 billion Belarusian rubles as of February 1, 2005, up 59% on the year. ITI-bank’s loan portfolio declined 14.4% on the year
in January to the equivalent of U.S. $16.7 million. The bank’s net profit fell 38% on the year in
January to 176.7 million Belarusian rubles. Belarus’ National Bank (NBB) registered the joint
stock Commercial International Trade and Investments Bank on January 28,
1999. Foreign investors hold 57% in the bank. Among the foreign holders are
Cyprus’ Daltotrade Limited, Austria’s INVB Vermogensverwaltungs und
Beteiligungs AG, Britain’s Vikash Investments Limited, Russia’s Moscow-based
Vozrozhdenie bank. NBB owns a 41% stake in the bank, Belarusian
Metallurgical Plant holds 2%. End (2,168 Belarusian rubles – U.S. $1) Belarusians’
rbl bank deposits up 6.1%, currency 3.2% on mo in Jan
MINSK, Feb 16 (Prime-Tass) -- Belarusians’ ruble
deposits with domestic banks were at 2.481 trillion Belarusian rubles as of
February 1, up 6.1% on the month in January, the National Bank of Belarus
(NBB) told Prime-Tass Wednesday. Belarusians’ ruble deposits rose in December 8.7% on
the month. Belarusians’ foreign currency deposits stood at U.S.
$736.2 million as of February 1, up 3.2% on the month in January. In
December, individual foreign currency deposits rose 8.4% on the month, the
NBB said. The rise is attributed to the NBB’s interest rate
policy and introduction of new types of deposits with high yields. In 2005 Belarusians’ total deposits are expected to
rise by 1.4-1.7 trillion Belarusian rubles. In 2004 deposits in Belarusian rubles rose 99.9% to
2.339 trillion Belarusian rubles, while foreign currency deposits increased
31.8% to $713.2 million. End (2,168 Belarusian rubles – U.S. $1) 16/02/2005 INDIVIDUALS DOUBLE BYR DEPOSITS IN JANUARY
(on
the information from Interfax) Individuals’ BYR deposits with domestic banks were at
BYR 2.481 trillion as of February 1, 2005, 6.1% up on the year, the National
Bank of Belarus (NBB) said in a statistics report. The Belarusians’ foreign currency deposits stood at
$736.2 million in January, 3.2% up on year. In December individual BYR deposits rose 8.7% on the
month, foreign currency – 8.4%. As of February 1, the total savings volume of
citizens with Belarusian banks amounted to BYR 4.088 trillion, 5% up on year. Of all the 32 Belarus-based banks 18 have a licence
to attract deposits of individuals (including GT Bank, on card-account
terms). In 2004, deposits in the national currency of
Belarus (BYR) with domestic banks stood at BYR 2.339 trillion, having risen
by 99.9%, while in foreign currency – 31.8% to $713.2 million. Individuals’
deposits are expected to swell by BYR 1.4-1.7 trillion by late 2005.
Estimates suggest that the 2005 inflation will reach 8-10%, key rate – 9-12%
per annum, allowing to preserve the real yield of BYR deposits. 11/02/2005 ON INFLATION RATE IN JANUARY
(on
the information from Interfax) In January 2005 Belarusian consumer prices increased
0.7% after a 2.1% top-up in December 2004, the Ministry of Statistics and
Analysis informed. Inflation rates in January 2004 made 1.9%. The Belarusian government set a 8-10 inflation
growth limit (average 0.9% a month) for 2005. Industrial prices in January 2005 upped 0.8% after a
0.9% growth in December 2004. According to the IMF adjusted forecast, in 2005 the
inflation rates in Belarus are expected to amount to 17.4%. In 2004 consumer prices rose 14.4% as against 25.4%
in 2003. The average monthly inflation in 2004 stood at 1.2% as against 1.9%
in 2003. In 2004, the IMF forest was 19.5%. 15/02/2005 Belarus
receives its first syndicated loan worth $15 mln
MOSCOW, Feb 15 (Prime-Tass) -- Belarus’ Finance
Ministry has appointed Russia’s Vneshtorgbank, Belarus’ Priorbank and
Austria’s Raiffeisen Zentralbank Oesterreich AG arrangers of a U.S. $15
million syndicated loan to Belarus, according to a joint press release issued
Tuesday. This is the first syndicated foreign loan received
by the Belarusian government. It is planned to use the loan to finance state
budget items. The loan is provided for 364 days with a possibility
of extension by individual agreement with each side, with 4.25% interest rate
and bullet repayment. The levels of participation are $5 million, $3 million,
$2 million, and $1 million for the arranger, co-arranger, lead manager and
manager of the loan, respectively. The presentation of the loan is to be held in Vienna
on February 18 in the Raiffeisen Zentralbank Oesterreich AG Headquarters. Belarus’ foreign debt amounted to $741.1 million as
of January 1, 2005, down from $1.5 billion in 1995. The domestic debt was at
$1.3 billion as of early 2005. Belarus belongs to the group of countries with a low
foreign debt, which means the foreign debt / GDP ratio has not exceeded 10%
since 1996 with the permissible value of 50%, and the foreign debt / exports
ratio has been below 15% with the permissible value of 220%. Belarus does not have a sovereign credit rating of
Moody's, Standard&Poor’s or Fitch. End NBB
approves adjusted list of securities accepted as collateral
MINSK, Feb 15 (Prime-Tass) -- The National Bank of
Belarus (NBB) has approved an adjusted list of securities that may be
accepted as collateral for various types of loans provided by the NBB, the
National Bank told Prime-Tass Tuesday. The new list includes state short-term bonds, state
long-term bonds and NBB bonds for companies and individuals. All securities
are to be denominated in Belarusian rubles. Earlier, the list did not specify the securities
that could be used as collateral. It mentioned state securities, NBB securities,
except for promissory notes. End NBB
sets unified regulation rules for operations with promissory notes
MINSK, Feb 15 (Prime-Tass) -- The National Bank of
Belarus (NBB) has amended the rules of registration of banks’ promissory
notes setting unified approaches to the regulation of operations with
promissory notes, including those denominated in foreign currency, the NBB
told Prime-Tass Tuesday. The rules of operations with foreign currency
promissory notes have been brought in conformity with the general rules of
foreign currency operations approved in April 2004. According to the NBB specialists, the amendments
were caused by the ambiguity of the rules of registration of banks’
promissory notes that sometimes ran counter to the rules of foreign currency
operations. Amendments are to come into effect after it passes
expert examination. End Belagroprombank’s
gross assets up 1% on month in January
MINSK, Feb 15 (Prime-Tass) -- The gross assets of
Belarus’ second largest bank Belagroprombank rose 1% on the month in January
to 2.112 trillion Belarusian rubles, the bank said in a statement Tuesday. The bank’s balance sheet profit amounted to 1.9
billion Belarusian rubles in January. No comparative data were available. The bank’s loan portfolio amounted to 1.695 trillion
Belarusian rubles as of February 1, flat on the month in January. The share
of bad loans rose to 2.1% in January from 1.8% as of early this year. The bank’s equity capital rose 2.6% in January to
1.051 trillion Belarusian rubles. Retail deposits with the bank were at 408.8 billion
Belarusian rubles as of February 1, 2005, up 3.9% in January. The National Bank of Belarus registered
Belagroprombank in September 1991. The bank’s charter capital amounted to
887.8 billion Belarusian rubles as of February 1. The state and
government-related holders own 99.1% in the bank. End (2,167 Belarusian
rubles - U.S. $1) 14/02/2005 Belarusbank
sees investment portfolio up 30% on yr in 2005
MINSK, Feb 14 (Prime-Tass) -- Belarus’ largest
Belarusbank plans to increase its loan portfolio 30% on the year in 2005 to
5.7 trillion Belarusian rubles, in accordance with this year’s targets
approved by the board of directors Monday. The bank plans to provide 3.3 trillion Belarusian
rubles worth of loans in the national currency and U.S. $1.1 billion worth of
foreign currency loans. The bank also plans to attract at least $250 million
in foreign loans and increase the limit on foreign trade operations of
Belarusian companies to $150 million. Belarusbank plans to focus on provision of housing
construction loans to individuals and investment lending to companies. In 2005 Belarusbank is to partake in crediting large
investment projects at Belarusian Metal Plant (BMZ), Mozyr-based oil refinery
and Svetlogorsk Khimvolokno. The bank is to increase its charter capital 21% this
year to 927 billion Belarusian rubles, while Belarusbank’s own capital is to
rise 40.7% to 1.194 trillion Belarusian rubles. The resource base of the bank is to rise 20% to 7.5
trillion Belarusian rubles, including national currency resources at 4.8
trillion Belarusian rubles and foreign currency resources at the equivalent
of $1.2 billion. Belarusbank was founded in July 1991 and merged with
Belarus’ Sberbank in October 1995. The state holds about 99% in the bank. End
(2,167 Belarusian rubles - U.S. $1) Belarus’
Belgazprombank’s pre-tax profit up 14.6% on yr in 2004
MINSK, Feb 14 (Prime-Tass) -- Belarus’ ninth largest
bank Belgazprombank’s balance sheet profit increased 14.6% on the year in
2004 to 3.118 billion Belarusian rubles, a representative with the bank told
Prime-Tass Monday. The bank’s gross assets rose 24% in 2004 to 211.8 billion
Belarusian rubles as of January 1, 2005. Belgazprombank’s loan portfolio increased 35.3% in
2004 to 154 billion Belarusian rubles. The loans provided from the credit
line opened by the European Bank for Reconstruction and Development increased
16.4% in 2004 to 13.5 billion rubles. The bank’s equity capital increased 16.8% in 2004 to
35.4 billion Belarusian rubles. The bank’s charter capital stood at 20.4 billion
Belarusian rubles as of January 1, a rise from 5.66 billion rubles. Corporate deposits with the bank increased 36.6%
last year to 82.1 billion rubles. The National Bank of Belarus registered
Belpromstroybank in December 1991. The state holds 68% in the company. Belgazprombank was founded in 1997 on the basis of
commercial bank Olymp. The bank’s shareholders are Russian gas giant Gazprom
with a 33.91% stake, Russian Gazprombank with a 33.91% stake, Belarus’
natural gas pipeline operator Beltransgaz with a 23.5% stake, the Belarusian
government with 8.63% and Belarus-Russia joint venture Brestgazoapparat with
the remaining 0.05%. End (2,167 Belarusian rubles - U.S. $1) NBB
extends contest for best design of ruble symbol till March 31
MINSK, Feb 14 (Prime-Tass) -- The National Bank of
Belarus (NBB) has extended the contest for the best design of the graphic
currency symbol of the Belarusian ruble until March 31, the NBB said in a
press release Monday. It was originally planned to draw the results on
February 15. The NBB said the contest has been extended because
too many applications have been received, especially over the past week. The contest was held from June 1, 2004 through
January 31, 2005. Both residents and non-residents were allowed to partake. The winner will get 50 base units [one unit stands
at 24,000 Belarusian rubles], which amounts to approximately U.S. $553. After the contest the NBB is to receive the sole
right to use and place the symbol of the Belarusian ruble. End 13/02/2005 Belinvestbank’s
cards in circulation up 3% on mo in Jan to 216,100
MINSK, Feb 11 (Prime-Tass) -- Belarus’
Belinvestbank, the fourth largest bank, increased the number of bankcards in
circulation 3% on the month in January to 216,100, the bank said in a
statement Friday. In January, Belinvestbank issued 6,306 cards against
11,605 cards in December. Belinvestbank’s BelKart cards in circulation rose
0.7% in January to 98,300, ruble Cirrus/Maestro Domestic cards 3.8% to
81,400, VISA Electron Domestic 8.9% to 32,200. The number of cards denominated in foreign currency
declined 1.3% in the period to 4,079. Belinvestbank was created in 2001 following a merger
between Belbiznesbank and Belarusian Development Bank. The state and
government-related shareholders hold a stake of more than 50% in the bank,
including the National Bank of Belarus with 41.7%. End Belarusian
banks’ own capital profitability up to 6.32% in 2004
MINSK, Feb 11 (Prime-Tass) -- The profitability of
Belarusian commercial banks’ own capital increased to 6.32% as of January 1,
2005 from 6.1% as of January 1, 2004, an official with the National Bank of
Belarus (NBB)’s information department told Prime-Tass Friday. The profitability of Belarusian banks’ assets shrank
to 1.44% from 1.5%. Banks’ total profit amounted to 182.951 billion
Belarusian rubles as of January 1, 2005, up 39.2% on the year. Belarusian banks’ total balance sheet assets went up
46.7% on the year in 2004 to 14.615 trillion Belarusian rubles. Banks’ own
capital amounted to 2.896 trillion Belarusian rubles as of January 1, 2005,
up 34.3% from January 1, 2004. In 2003 the profitability of Belarusian banks’ own
capital was at 6.1% compared with 4.43% in 2002. The profitability of assets
rose 0.54 percentage points on the year in 2002 to 1.5%. End. (2,169
Belarusian rubles – U.S. $1) 10/02/2005 Speaker
says new version of Land Code to boost mortgage lending
MINSK, Feb 10 (Prime-Tass) -- The new version of
Belarus’ Land Code will give an impetus to the development of mortgage
lending, speaker of the upper chamber of the Belarusian parliament, the
council of the Republic, Gennadi Novitsky, said during the discussion of the
new land code. “Land is a very important factor in mortgage
lending, but land has never been an article of trade in our country. This is
why we have a shadow market, and the state receives neither taxes nor
profits. We should push land towards market relations faster,” Novitsky said.
The new version of the Land Code will make it
possible to use land as collateral to get bank loans. “In many countries this
is usual practice, and the faster we introduce the new rules the faster we
get rid of the shadow market,” Novitsky said. He denied the rumors that the new code has been
drafted for large cities and will act against the interests of those involved
in agriculture. “These issues are urgent both in cities and villages, and
they may more important in the villages,” Novitsky said. In turn, Mikhail Rusyi, the chairman of the lower
chamber’s commission for agrarian issues, said it was planned to preserve
land property right. “People will own the plots for construction, part-owner
units, collective gardening and dacha construction,” he said. “Land for tillage will have to be rented for the
term of up to 10 years,” Rusyi said. At the same time, Rusyi said the MPs
would insist on preservation of life land tenure. Speaker Novitsky also believes life land tenure
should not be cancelled. However, according to him, time is needed to fix
this provision in the final variant of the code. Only 15% of Belarus’ land is subject to a full-scale
market turnover, this is why it is important to increase the effectiveness of
their use. The remaining 85% are not to be sold [fields, forests, etc.] The current Land Code was adopted on January 4, 1999
and amended on May 8, 2002. The new version of the Land Code is likely to be
considered by the spring session of the House of Representatives on April 4,
2005. End 10/02/2005 Belarus
Priorbank’s pre-tax profit up 79.4% on year in Jan
MINSK, Feb 10 (Prime-Tass) -- The balance sheet
profit of Belarus’ fifth largest bank Priorbank (RZB group) increased 79.4%
on the year in January to 6.1 billion Belarusian rubles as of February 1,
2005, a bank official told Prime-Tass Thursday. Priorbank’s net assets decreased 2.8% from January
1, 2005 to 1.662 trillion Belarusian rubles as of February 1, 2005. Priorbank’s loan portfolio accounted for 63% of the
bank’s total assets and was at 1.045 trillion Belarusian rubles as of
February 1, 2005, unchanged from January 1, 2005. Of the total loans, investment
loans remained unchanged at 347 billion Belarusian rubles. The bank’s own capital rose 5.6% in the period to
259 billion Belarusian rubles. The charter capital remained unchanged and
amounted to 102.8 billion Belarusian rubles as of February 1. Priorbank’s borrowed funds stood at 1.103 trillion
Belarusian rubles as of February 1, 2005, up 3.8% from January 1, 2005. The
share of corporate accounts stood at 39%, while the share of private accounts
was at 14% of the bank’s resource base. Interbank resources accounted for
47%. Priorbank was set up in 1989. In January 2003 a
controlling stake in the bank was sold to Vienna-based Raiffeisen Zentralbank
Oesterreich AG (RZB-Austria) for 30.6 million euros. Priorbank is Belarus’ largest private commercial bank
with 61.3% controlled by RZB-Austria through its 100% subsidiary Raiffeisen
International Beteiligungs AG (RIB). EBRD has 13.5% in Priorbank, state-owned
oil company Belorusneft 3.11%, Belarus’ Economy Ministry 2.13%, automaker
BelavtoMAZ 1.96%. End (2,169 Belarusian rubles – U.S. $1) |
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