JSC Belagroprombank 2020 Performance Results

JSC Belagroprombank 2020 Performance Results

On 10 February 2021, JSC Belagroprombank summarized its performance results for the year 2020. During the reporting period JSC Belagroprombank ensured the fulfillment of the key development indicators and prudential standards, while demonstrating effective work, which was reflected in high performance indicators in a number of business areas 

The bank's balance sheet (net) profit increased by 16% as compared to 2019 and amounted to BYN 65.4 million.

In 2020, the bank fully complied with liquidity indicators - liquidity coverage ratio and net stable funding ratio

As of 01.01.2021, the regulatory capital adequacy of JSC Belagroprombank was reflected at the level of 17.8% with the regulatory value of 12% set by the National Bank, while the regulatory capital increased by BYN 44 million to BYN 1,876 million.

The bank's operating profit for 2020 amounted to BYN 570.1 million, which is BYN 26.0 million (4.8%) above planned value.

In terms of corporate banking, the bank retained its leading position in the market for attracting fixed–term funds with a market share of 22%. It should be noted that in terms of attracting funds from corporate clients in foreign currency, the growth amounted to USD 259 million. As of 01.01.2021, the bank serves 36,548 legal entity customers, of which 34,384 (94%) are representatives of SMEs, and 2,164 (6%) are large corporate clients.

As of 01.01.2021, the volume of the retail loan portfolio for the bank totalled BYN 698.1 million, an increase of BYN 39.0 million (5,9%) in 2020. The Bank provided credit support in the area of real estate financing within the framework of Decree No. 240. As of 01.01.2021, the bank's clients are 1.5 million individuals.

In the field of international business, positive work dynamics and activity should be noted: the bank entered into a number of business – critical agreements with foreign financial institutions, providing for the possibility of arranging financing of foreign trade operations of the bank's clients. In 2020, the bank concluded a number of agreements with new credit and financial institutions, including from countries that are new to cooperation.

In 2020, the bank achieved one of the highest performance indicators in its history. Thus, in the past year the volume of foreign credit facilities raised amounted to about USD 1 billion (in the equivalent), 555 documentary transactions were implemented for about USD 400 million (in the equivalent).

In October 2020, JSC Belagroprombank repaid a large European syndicated loan of EUR 60 million that was attracted in October 2019. The repayment was made in full and in strict accordance with the terms of the Loan Agreement.

In 2020, JSC Belagroprombank received the second tranche of loan facilities from the European Investment Bank (EUR 20 million). During cooperation with this international financial organization, the bank attracted credit facilities to the total value of EUR 70 million. The implemented project allows JSC Belagroprombank to provide unique financing conditions for the development of private small and medium-sized businesses in the Republic of Belarus. Clients of Belagroprombank will be able to use the resources received under this project to implement projects for the acquisition, modernization or expansion of equipment facilities, as well as for the financing of working capital.

The bank also discovered new areas of activity in the field of international cooperation. JSC Belagroprombank acted as a lender for the first time in the market of syndicated lending in the CIS countries and took part in international projects on arranging syndicated loans for leading banks of the Republic of Uzbekistan - JSCB "Asaka" and JSCB "Microcreditbank".

In the past year JSC Belagroprombank pleased its clients with new products and services. For individuals, the bank implemented a mobile payment service "Wallet Pay". JSC Belagroprombank jointly with Mastercard has developed and launched a student card. The Bank has significantly updated the functionality of the RBSS channels, and expanded the possibilities of working in the Internet Banking and Mobile Banking systems. The Bank has significantly improved the package of services "Care" for pensioners.