Business news

MINSK, 1 August (BelTA) - The international rating agency Standard & Poor's has affirmed its 'B-/B' long-term and short-term rating on the Development Bank of the Republic of Belarus (DBRB); the outlook is stable, BelTA learned from the press service of the bank.

In view of stronger capitalization and profitability figures of the bank, the agency also revised the bank solvency parameters upward.

“The ratings of the bank are equated with the ratings of Belarus, which reflects Standard & Poor's opinion on “almost unconditional” likelihood of extraordinary support from Belarus' government to the bank in all circumstances. The experts of the agency note “the crucially important” role of the bank in addressing state policy issues,” the press service said.

The Development Bank of the Republic of Belarus is a specialized financial institution founded by the Council of Ministers and the National Bank of Belarus. The main purpose of the DBRB is to finance government programs and socially significant projects. In 2014 the bank netted $140 million in profits.