JSC Belagroprombank posts 1Q 2011 financial results

1Q 2011 JSC Belagroprombank demonstrated fast growth across all financials.

Belagroprombank’s revenue in January-March 2011 totalled BYR 80,5 billion, representing an increase of 1,5 times compared to the revenue recorded for the same period in the previous year. The bank’s profitability amounted to 10%.

Belagroprombank keeps second rank among Belarusian banks by revenue, with 15.4% share in the country’s banking sector.

As of 01.04.2011 Belagroprombank’s equity totalled BYR 5,9 trillion or EUR 1361,9 million, accounting for 1/3 of the country’s equity market share. JSC Belagroprombank is the largest bank in the Republic of Belarus by equity.

In 1Q 2011 Belagroprombank’s resource base grew BYR 1,6 trillion to BYR 32,9 trillion as of 01.04.2011.

Foreign credit facilities and retail customer funds have been the largest contributors to the bank’s resource potential.

Retail customer funds increased 11,2% to BYR 3,2 trillion. Belagroprombank outperformed its peers by 7,2 pct in terms of retail customer deposits.

In January-March 2011 JSC Belagroprombank raised over USD 400 million of foreign financing into the country’s economy.

Resource potential growth enabled Belagroprombank to significantly increase lending to the real sector of economy and individual customers.

Since the year-start 2011 total gross loans provided by the bank have grown BYR 2,1 trillion, which accounts for over 20% of the gross loan portfolio of the banking sector.

Belagroprombank’s corporate loan portfolio rose BYR 1,3 trillion and exceeded BYR 28,3 trillion as of 01.04.2011. Retail loan portfolio reached almost BYR 1,4 trillion.