YAROVIT

News / 26 March 2004

“ACB “BELROSBANK” held press-conference dedicated to bank operation results in year 2003 on March 25

Yesterday, the joint-stock commercial bank “ACB “BELROSBANK” convened a shareholders’ meeting dedicated to the bank operation results in 2003 and planning for the year 2004.

Those interviewed and reporting at the press conference were: Mr. Igor V.Katibnikov, Chairman of the Board of the JSCB “BELROSBANK”, Mr. Antonov, Deputy Chairman of the JSCB “BELROSBANK”, and Mr. Andrei M.Birukov, Chairman of the Board of Directors of the JV “IPC Yarovit” Ltd.

When summing up the activities of the JSCB “BELROSBANK”, one may point out that the bank, during its first half year of existence, has succeeded in introducing a full spectrum of banking operations and created a full-fledged banking business infrastructure. Resultant from the year 2003, the bank showed profit, and positive dynamics of the bank growth indices continues in 2004. The clientele is also growing, a high-quality credit portfolio has been formed (to date, the bank has no bad credits in terms of past-due or prolonged debts). As at 25.03.2004 the bank’s assets stood at USD 26.6, the credit portfolio and equity invested in the clients’ securities at USD 8.5 million.

One of the important results of the activities is that the JSCB “ROSBANK” and the JSCB “BELROSBANK” have jointly coordinated their credit lines to service major industrial enterprises of the Republic of Belarus, and a financing mechanism has been developed, that of the consortium loaning, whereby the JSCB “BELROSBANK” acts as the leading bank carrying out the preparation of a project, extending and following up on the loan. This makes it possible, on the one hand, to facilitate receipt of loans for the Belarusian enterprises, since the JSCB “BELROSBANK” operates in the same economic and legal environment and conditions as the beneficiaries of credit, and, on the other hand, this working scheme enables to attract outside investments to the Republic of Belarus, both in terms of the JSCB “ROSBANK” own means, and using the existent credit lines of foreign banks opened in favor of the JSCB “ROSBANK”.

With the purpose of attracting outside investments in the economy of the Republic of Belarus, the JSCB “BELROSBANK” signed an agreement with the Ministry of Energy of the Republic of Belarus and “BelEnergo” Concern, on the subject of financing the country’s energy-related investment projects in the total amount of USD 60 million. The said agreement will make it possible to obtain outside loan financing to be spent on projects most vital for the republic. The financing conditions offered by the JSCB “ROSBANK and the JSCB “BELROSBANK” will enable the enterprise to implement their projects on exceptionally beneficial conditions.

During the half-year passed, the bank has succeeded in setting up a dependable system of payment clearances in foreign currencies, by opening correspondent accounts with leading banks of Europe, America, Russia and Ukraine.

On the whole, one may state that during the first six months of work the bank has managed to win over confidence and trust of a number of leading enterprises of the Republic of Belarus, the local and foreign banks.

In building relations of partnership with its clients, the Bank strives to ensure a balance of interests of the production and financial sectors, to contribute into resolution of problems facing the various branches of economy, especially for the enterprises working in the power supply complex, the large-scale industries, as well as for small- and medium-scale businesses.

ACB “BELROSBANK” development strategy envisages further growth of the share of the market, a more variegated spectrum of services for all the Client groups, as well as perfecting the banking services offered to its clientele.
 

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