Standard & Poor's raised credit ratings on Belagroprombank

Standard & Poor's raised credit ratings on Belagroprombank to "B", outlook Stable.

On April 13, 2018 Standard & Poor's Global Ratings raised long-term credit ratings in foreign and local currencies on JSC "Belagroprombank" to "B" and affirmed short-term credit ratings at "B" with Stable outlook.

The upgrade reflects the result of the work carried out by the owner as well as by the management of Belagroprombank which designed to improve its financial credibility and efficiency, optimize business processes, and strengthen market positions. The new strategy of Belagroprombank is aimed at achieving the leading positions in the regions of the Republic of Belarus in terms of financial support for the population, as well as for small and medium-sized enterprises, with high efficiency of its own activities.

According to the press release the experts of the agency assess the business position of Belagroprombank as "sustainable", which reflects "position of major lender to companies from strategically important economic sectors". The agency’s analysts also believe that "the bank will demonstrate stable asset quality". Belagroprombank steadily joins the ranks of the leading financial institutions in the Republic of Belarus in terms of authorized fund and equity, as well as total assets and customer deposits.

The upgrade of the ratings will provide the bank with more favorable conditions for raising funds, including in foreign debt capital markets.