Business news

MINSK, 14 December (BelTA) - S&P Global Ratings affirmed its 'B/B' long- and short-term issuer credit ratings on JSC Savings Bank Belarusbank (Belarusbank). The outlook is stable, BelTA learned from the communications department of the bank.

The ratings on Belarusbank reflect S&P’s view of the bank's leading market position and the ongoing support from the government due to the bank's importance in providing banking services to the population and its key role in the economy. S&P views the bank’s business position as strong. It also believes that the bank has an adequate risk management system and a stable and diversified funding structure.

“The recent credit action attests to the bank’s transparency and financial solvency. The fact that the bank is regarded as a reliable business partner helps attract investments in the Belarusian economy,” the bank said.