Standard & Poor's rated Belarusbank at «B-»
Standard & Poor’s affirmed the largest Belarusian bank Belarusbank’s credit rating at «B-» with a stable outlook. The affirmation is due to Belarusbank’s business profile and financial performance stability despite the difficult operating conditions in Belarus.
The ratings on Belarusbank are constrained by the sovereign foreign currency credit ratings on Belarus, because the bank operates exclusively within the country and remains highly exposed to sovereign-related risk.
The bank’s stand-alone credit profile (SACP), at ’b’, is, however, one notch higher than the rating on Belarus, having improved after a capital increase in late 2011. JSC Savings Bank Belarusbank’s capitalization has strengthened following a Belarusian ruble 12.9 trillion Tier 1 capital injection by the Belarus government on December 30, 2011.
The rating agency believes Belarusbank plays a \"very important\" role for, and has a \"very strong\" link with, the government, resulting in a \"very high\" likelihood of government support in the event of need.. Despite a government announcement that it will allow the privatization of a minority stake in the bank, Standard & Poor’s analysts consider it highly unlikely in current market conditions.
The Belarusian authorities regard the Catholic conference as yet another international event to promote Minsk as a global negotiating platform. Minsk’s proposal to organise a meeting between the Roman-Catholic Church and the Russian Orthodox Church is rather an image-making undertaking than a serious intention. However, the authorities could somewhat extend the opportunities for the Roman-Catholic Church in Belarus due to developing contacts with the Catholic world.
Minsk is attempting to lay out a mosaic from various international religious, political and sportive events to shape a positive image of Belarus for promoting the Helsinki 2.0 idea.
Belarus’ invitation to the head of the Holy See for a meeting with the Patriarch of the Russian Orthodox Church should be regarded as a continuation of her foreign policy efforts in shaping Minsk’s peacekeeping image and enhancing Belarus’ international weight. The Belarusian authorities are aware that their initiative is unlikely to find supporters among the leadership of the Russian Orthodox Church in Moscow. In Russia, isolationist sentiments prevail.
In addition, for domestic audiences, the authorities make up for the lack of tangible economic growth with demonstrations of growth in Minsk’s authority at international level through providing a platform for religious, sportive and other dialogues.