JSC Belagroprombank has been recognized “Best Trade & Structured Finance Bank in Belarus”
JSC Belagroprombank has been recognized “Best Trade & Structured Finance Bank in Belarus” by the British bne IntelliNews magazine. Such information has been published in its April issue which presents a survey of CEE/CIS banking sector in 2017 in relation to trade finance.
Such an award evidences not only the growth of confidence from foreign partners but also the possibilities of JSC Belagroprombank to implement successfully projects of its clients due to established international background and active cooperation with foreign partners.
Currently JSC Belagroprombank has developed a strong interaction in trade finance sphere with more than 100 foreign credit and financial institutions worldwide. An individual approach to each project and close relationship with major foreign partners make it possible to satisfy clients’ needs and to raise foreign funds for financing of foreign trade contracts of clients of JSC Belagroprombank with exporters from nearly any country.
Thus, in 2016 total amount of foreign trade projects implemented with foreign resources totaled more than USD 750 million in equivalent. The amount of foreign resources raised from the beginning of 2017 already exceeds USD 430 million in equivalent. In particular in 2017 there was signed a loan agreement for 7 year tenor in total amount of around EUR 30 million between JSC Belagroprombank and one of the largest banks in Poland under national ECA cover to finance a construction of a sports center in Minsk.
In the first half of 2016 JSC Belagroprombank successfully implemented two deals of attracting syndicated facilities for trade finance purposes that was truly outstanding for both the bank itself and the whole Belarus banking system. In March 2016 the bank raised a syndicated loan, which was the first one in Belarus nominated in three currencies and the largest among the bank’s track record of transactions on international debt capital markets. In May 2016 the 10th milestone deal of attracting a syndicated facility was implemented with originally European banks only. Since 2008 Belarus could not boast such deals.
Emblematic events in 2016 included also an agreement between the Eurasian Development Bank and JSC Belagroprombank on a renewable loan facility to cover clients’ needs for trade finance, and a Memorandum of Understanding with Nordic Environment Finance Corporation (NEFCO) to finance environmental projects of JSC Belagroprombank’s clients. Moreover, JSC Belagroprombank is in close cooperation with the National Bank of the Republic of Belarus regarding trade finance in CNY.
Business bne IntelliNews Magazine was created in 2014 via merge of Business New Europe (BNE) magazine and Emerging Markets Direct data portal. Currently BNE magazine founded in 2006 remains the only periodical in English that covers economic, financial, political and business market trends in more than 30 countries of Central, Eastern and South Europe and Central Asia. Since 2010 the periodical has regularly researched the banking sector of Central and Eastern Europe and ranked banks of the regions.
