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.
President Lukashenka continues to rotate staff and rejuvenate heads of departments and universities following new appointments in regional administrations. Apparently, new Information Minister Karliukevich could somewhat relax the state policy towards the independent media and introduce technological solutions for retaining control over Belarus’ information space. New rectors could strengthen the trend for soft Belarusization in the regions and tighten the disciplinary and ideological control over the student movement in the capital.
President Lukashenka has appointed new ministers of culture and information, the new rector of the Belarusian State University and heads of three universities, assistants in the Minsk and Vitebsk regions.
The new Information Minister Karliukevich is likely to avoid controversial initiatives similar to those former Minister Ananich was famous for, however, certainly within his capacities. Nevertheless, the appointment of Belarusian-speaking writer Karliukevich could be regarded as the state’s cautious attempt to relax environment in the media field and ensure the sovereignty of national media.
The Belarusian leadership has consolidated the trend for mild Belarusization by appointing a young historian and a ‘reasonable nationalist’, Duk as the rector at the Kuleshov State University in Mogilev. Meanwhile, while choosing the head of the Belarusian State University, the president apparently had in mind the strengthening of the ideological loyalty among the teaching staff and students at the main university in order to keep the youth movement at bay. Previously, Korol was the rector of the Kupala State University in Grodno, where he held purges among the disloyal teaching staff.
The trend for the renewal of mid-ranking executives and their rejuvenation has confirmed. The age of the Culture Minister and three new rectors varies from 39 to 44 years old.