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Sunday, April 30, 2017

Belarusbank reports growth at annual shareholders meeting

During the annual general shareholders meeting on Tuesday, Belarusbank announced growth in capital and statutory funds.


According to the report, capital grew 11.4 percent, amounting to approximately $1.6 billion, with statutory funds amounting to approximately $1.13 billion.


Shareholders present at the meeting approved the proposed balance sheet and annual reports. They also decided that 20 percent of net profit would be directed to the reserve fund, and a majority of net profit would be used to develop the fund in order to strengthen its position in the Belarusian financial market. 


"The bank's capital is formed in an amount sufficient to cover the risks, and the dynamics of liquidity ratios confirms the bank's ability to timely and fully implement its obligations to depositors and other creditors, characterizing the possibility of long-term cooperation," Belarusbank Chairman of the Board Sergei Pisarik said. 


The bank states that it serves approximately 89,000 business entities and is currently working to expand services to small and medium-sized businesses.

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