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Belarusbank
Приглашение
сотрудничеству
Invites toк cooperate
April 2015
Agenda
1. Belarus - Economic Environment .………………………………………...
3
2. Belarusbank - Business Model and Performance……………………….
7
3. Belarusbank - International Business Activity …………………………… 14
4. Contacts ……………………………………………………………………..
© 2014 Belarusbank, International Business Department
© 2015 Belarusbank, International Business Department
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Belarus - Economic Environment
© 2015 Belarusbank, International Business Department
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Belarus: General Information
Area: 207 600 sq km
Population: 9.5 m. inhabitants
Capital: Minsk (1.9 m. inhabitants)
1
Natural resources: potash, timber, peat deposits,
oil and natural gas, granite, dolomitic limestone,
marl, chalk, sand, gravel, clay
Administrative divisions: 6 regions + city Minsk
State languages: Belarusian and Russian
International organizations’ membership:
2
International Ratings:
- UN, UNCTAD, UNESCO, UNIDO;
- WTO (observer);
- IBRD, EBRD;
- IMF;
- CIS, EAU;
- Shanghai Cooperation Organization
(dialogue member), etc.
© 2015 Belarusbank, International Business Department
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BBB 4
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Economy Overview
Indicators
GDP, USD bn (equiv.)
Foreign trade turnover of goods
and services, USD bn (equiv.)
•Export, USD bn
•Import, USD bn
Balance of foreign trade, USD bn
Foreign direct investments in real
economic sector, USD bn (equiv.)
Inflation, %
Public External debt,
USD bn (equiv.)
Exchange rate USD/BYR
2011 2012 2013 2014 01.03.15
32.8 61.5 67.0 65.7
8.2
95.0 100.5 89.5
46.7 51.7 43.9
48.3 48.8 45.6
- 1.6 2.9
-1.7
87.5
43.6
43.9
-0.3
9.03
4.86
4.17
0.69
13.2 14.3
108.7 21.8
10.2
16.2
10.2*
4.1
11.1
16.5
Real GDP Growth, %
12.3 12.7 12.4 12.6
12.4
8350 8570 9510 11850 14890
Source: National Statistical Committee of the Republic of Belarus
* As of 01/01/2015
Source: National Statistical Committee of the Republic of Belarus,
National Bank of the Republic of Belarus
Comments
GDP Structure as of 01.01.2015, %
Belarus has an open export-oriented economy.
Belarusian economy has a well-diversified structure
supplying goods and services to domestic and foreign
markets.
In comparison to GDP the national external debt stands at
low level giving the country an opportunity to make safe
borrowings to support its economy.
Refinancing rate of the National Bank of the Republic of
Belarus since 09.01.2015 – 25.0%.
Source: National Statistical Committee of the Republic of Belarus
© 2015 Belarusbank, International Business Department
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Banking Sector
Performance Indicators of Belarusian Banks
Banking Assets (Liabilities) to GDP Ratio, %
Indicator
2011
2012
2013
2014
01.03.15
Assets, USD bn
31.7
37.5
41.6
42.0
37.0
Authorized Capital, USD bn
3.3
3.5
3.3
2.8
2.3
Normative Capital, USD bn
4.4
5.3
5.6
5.3
4.4
Credits to clients, USD bn
17.7
25.1
29.8
29.3
25.7
Deposits from clients, USD bn
11.7
19.2
18.2
18.0
16.2
CAR, %
24.70
21.85
15.50
17.38
17.41
Profit, , USD bn
0.369
0.571
0.717
0.641
0.073
ROA, %
1.65
1.82
1.87
1.70
1.65
Source: National Bank of the Republic of Belarus
Source: National Statistical Committee of the Republic of Belarus, National
Bank of the Republic of Belarus
Actual Value of Basic Indicators, %
Comments
Belarusian banking sector, as of 01.03.2015, consists of
banks, including 26 banks with foreign capital participation.
31
In the reporting period banks formed special provisions for
covering potential losses on assets exposed to credit risk to the
extent required and ensured the compliance with liquidity and
capital adequacy ratios.
Source: National Bank of the Republic of Belarus
© 2015 Belarusbank, International Business Department
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Belarusbank - Business Model
and Performance
© 2015 Belarusbank, International Business Department
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Belarusbank Overview
Belarusbank Key Facts
Foreign currency
short-term
Foreign currency
long-term
2008
B
B-
Stable
5
Founded in 1922, the largest financial institution in Belarus
2009
B
B-
Negative
5
2010
B
B
Stable
4
The Banker rank by Tier 1 capital No. 399
2011
В
В-
Negative
5
2012
B
B-
Negative
5
Total assets of USD 14.7 billion (as of April 1, 2015)
2013
B
B-
Stable
5
2014
B
B-
Stable
5
Ownership - 99% State Owned
Outlook
Support
Rating
Financial Statements: Audited Financial Statements according
Foreign currency
long-term
Foreign
currency
short-term
Local currency
long-term
Local currency
short-term
Outlook
April 2012
B‐
C
B‐
C
Stable
April 2013
B‐
C
B‐
C
Positive
November 2013
B‐
C
B‐
C
Stable
September 2014
B‐
C
B‐
C
Stable
to IFRS since 1997
Belarusbank Presence in Belarus, as of 01.04.2015
Local market position, %, as of 01.03.2015
HEAD OFFICE
1
Regional Offices
6
Branches
28
Сenters for banking
services
96
Outlets
© 2015 Belarusbank, International Business Department
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Historic Milestones. Recent times
1992
Started as Labour Savings Office in new Soviet banking system
1995
Joint Stock Company “Savings Bank “Belarusbank” was established by merger of the Savings Bank of the
Republic of Belarus and “Belarusbank” Joint Stock Commercial Bank
1996
Belarusbank acquired Belsvyazbank and Belzheldorbank
1997
Belarusbank opened its representative offices in Russia (Moscow) and Poland (Warsaw)
2003
Belarusbank opened its representative office in Germany (Frankfurt-am-Main)
2005
Belarusbank acquired MinskKompleksBank
2007
Belarusbank opened its representative office in China (Beijing)
Debut issue of Belarusbank LPN - $ 125 mln
2008
Memorandum of understanding between Belarusbank and Deutsche Boerse AG was signed
2009
Agreement for cooperation between Belarusbank and Warsaw Stock Exchange was signed
2012
Belarusbank obtained a syndicated loan of $ 130 mln
Belarusbank became - a full member of WSBI
- Bank-partner of Interbank Consortium of the Shanghai Cooperation Organization
2013
Belarusbank became a full member of Moscow Exchange
Belarusbank obtained a syndicated loan of $110 mln
2014
Belarusbank obtained 2 syndicated loans totaling €180 mln
1922, First Bank’s Office in Minsk
© 2015 Belarusbank, International Business Department
2011, Head Office in Minsk
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2013, New building of Belarusbank Head Office
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Belarusbank’s Market Position (Top 5)
Liabilities and Equity (Resource Base) as of 01/03/2015, USD bn
Source: Bulletin of Banking Statistics (by banks) of National Bank of
the Republic of Belarus
Source: Bulletin of Banking Statistics (by banks) of National Bank of
the Republic of Belarus
Bank Loans to Economy as of 01/03/2015, USD bn
Corporate and Retail Deposits as of 01/03/2015, USD bn
Source: Bulletin of Banking Statistics (by banks) of National Bank of
the Republic of Belarus
Source: Bulletin of Banking Statistics (by banks) of National Bank of
the Republic of Belarus
© 2015 Belarusbank, International Business Department
Equity as of 01/03/2015, USD bn
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Organizational Structure
Belarusbank Group Organization Chart
Belarusbank
49.3%
100%
99.9%
IT
Recreation
(2 companies)
Financial services
JSC Banks Processing
Center
ASB Recreation center
Sputnik
ASB Leasing
ASB Recreation center
Solnechniy
Shareholders' Structure,%
Representative Offices Abroad
1.863%
0.094%
0.014%
98.029%
© 2015 Belarusbank, International Business Department
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Belarusbank Financials (IFRS)
According to IFRS
USD million
(in equivalent)
2010
2011
2012
2013
2014
Assets
14 967.1
10 551.5
13 515.9
14 960.6
14 450.6
Equity
1 379.9
1 628.7
2 041.1
2 136.9
2 094.5
193.7
(306.1)
257.9
92.7
110.6
Customer deposits
8 729.7
6 227.9
8 650.8
9 494.1
8 936.3
Loans to customers
10 268.5
4 922.6
7 708.6
9 270.6
9461.2
88 800
89 600
86 045
90 900
89 146
14.27
16.08
17.28
15.90
16.59
Net profit
Corporate clients (number)
CAR, %
Comments
In December 2011 the Big Four international audit companies agreed the application of IAS 29 "Financial Reporting in Hyperinflationary Economies" in
Belarus. This resulted in net loss for 2011 under IFRS in the majority of Belarusian banks, including Belarusbank. The nature of these losses is
"inflationary", i.e. caused by external factors such as macroeconomic disbalance.
If IAS 29 "Financial Reporting in Hyperinflationary Economies" were not applied, Belarusbank’s profit for 2011 under IFRS would amount to 50 million
US dollars.
Assets Dynamics, USD mln. (in equivalent)
© 2015 Belarusbank, International Business Department
Net Profit Dynamics, USD mln. (in equivalent)
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Belarusbank Financials (NAS)
According to NAS
USD million (in equivalent)
2010
2011
2012
2013
2014
Assets
17 559.1
12 587.0
15 111.7
16 853.1
16 665.5
Equity
1 696.2
2 313.6
2 421.0
2 386.3
2 054.3
170.2
72.7
140.2
147.3
140.1
Customer deposits
8 880.7
6 333.7
9 215.1
10 550.8
10 521.7
Loans to customers
12 859.5
7 122.7
9 854.4
11 819.6
12 009.9
88 800
89 600
86 045
90 900
89 146
15.9
35.0
28.5
18.1
19.6
Profit
Corporate clients (number)
CAR, %
Assets Dynamics, USD mln. (in equivalent)
© 2015 Belarusbank, International Business Department
Profit Dynamics, USD mln. (in equivalent)
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Belarusbank
International Business
Interbank Consortium
of the Shanghai Cooperation
Organization
© 2015 Belarusbank, International Business Department
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International Trade
Belarusbank Customers’ Export and Import
Belarusbank Share in Trade Balance
of the Republic of Belarus
Export
Import
Export, USD bn
The Republic of Belarus
Belarusbank
Share
Import, USD bn
The Republic of Belarus
Belarusbank
Share
2011
2012
2013
2014
2 month
of 2015
46.7
51.7
43.9
43.6
4.86
12.3
27%
10.9
21%
10.2
23%
9.6
22%
1.10
23%
2011
2012
2013
2014
2 month
of 2015
48.3
48.8
45.6
43.9
4.17
12.9
27%
12.0
24%
9.4
21%
6.1
14%
0.84
20%
© 2015 Belarusbank, International Business Department
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Belarusbank’s share in maintenance of the foreign trade
turnover of the Republic of Belarus – 21%
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External Financing in Belarusbank’s Funding
Structure of Belarusbank’s Funding Base as of 01.04.2015
11%
89%
Internal Sources
Foreign Funding
23%
77%
Loans attracted by Belarusbank
under State Guarantee
Comments
Belarusbank does not have any late payments towards non-resident
creditors
© 2015 Belarusbank, International Business Department
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Major realized projects
Selected long-term investment projects carried out
in 2013 - 2014
Selected Corporate Clients
Prochem S.A.
Mineral Wax Plant
Stadler Bussnangs
Belarusian Railway
Linde Engineering
Dresden GmbH
BMZ - GKS
RIKO d.o.o.
Minskenergo
Minskenergo
EUR 46.5 m
Poland
EUR 46.6 m
Switzerland
EUR 13.4 m
Germany
EUR 37.8 m
Slovenia
Belarusian Railway
BMZ – GKS
MAVEG
JSC "Lakokraska"
CZLOKO
Belarusian Railway
JSC Autodiesel
JSC MAZ
EUR 25.2 m
Germany
EUR 10.6 m
Czech Republic
USD 10.0 m
JSC Metrowagonmash
UE Minsk metropoliten
JSC Mozyr Oil
Refinery
USD 12.5 m
Russia
Russia
Production Association Gomselmash
Promar Sp. z o.o.
JSC Grodno meatpacking plant
Papcel a.s.
RUE Newsprint plant
Bauer Technics a.s.
JSC Borisov meat
plant
Stadler Bussnangs
Belarusian Railway
EUR 10.6 m
EUR 58.6 m
Czech Republic
EUR 16.9 m
Czech Republic
EUR 20.1 m
Switzerland
Poland
© 2015 Belarusbank, International Business Department
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P/A Minsk Tractor Works
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Long-term funding
“Tied” financing (including ECA-covered loans)
Cooperation with ECAs
Germany
Italy
Switzerland
Japan
Austria
Poland
France
Norway
Slovakia
Hungary
Czech Republic
China
Belgium
Denmark
Slovenia
Turkey
Finland
Russian Federation
© 2015 Belarusbank, International Business Department
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DCM / Deal Tombstones 2006 -2014
Belarusbank’s DCM projects 2006 - 2014
Bonds Issue Deals
mln USD
Volatility
on DCM
Crisis in RB
Belarusbank LPN
Republic of Belarus
USD 125 m
2007
USD 1 bn
8.75% Bonds
due Aug 2015
Arrangers
Co-Lead Manager
History of DCMs Transactions – over $1 bn
March 2006
Belarusbank
Term Loan Facility
of EUR 38,000,000
Mandated Lead Arranger
Bayerische Landesbank
September 2006
April 2007
Belarusbank
Belarusbank
Mulicurrency Term
Loan
Club Syndicated Loan
of US$ 65,000,000
Initial Mandated
Lead Arranger
Bayerische Landesbank
of US$ 38,000,000
May 2007
Belarusbank
Loan Participation
Notes
of US$ 125,000,000
Initial Mandated
Lead Arranger
Bayerische Landesbank
Arranger
VTB Bank Europe plc
Banco Finantia
September 2007
Belarusbank
Syndicated Term Loan
Facility
of US$ 105,000,000
Arrangers
Banco Finantia
Bayerische Landesbank
Commerzbank
VTB and VTB Bank Europe
plc
June 2008
January 2010
December 2010
Belarusbank
Belarusbank
Belarusbank
Syndicated Term Loan
Facility
Dual Tranche
Trade-related
Syndicated Term
Loan Facility
of US$ 45,000,000
Arrangers
Bayerische Landesbank
Commerzbank
Trade-related
Syndicated Term Loan
Facility
Of US$ 145,000,000
Arrangers
March 2012
Belarusbank
Dual Tranche Traderelated Syndicated
Term Loan Facility
Of US$ 130,000,000
Arrangers
December 2013
Belarusbank
Syndicated Term
Loan Facility
Of US$ 110,000,000
Arrangers
June 2014
Belarusbank
December 2014
Belarusbank
Syndicated Term
Loan Facility
Syndicated Term
Loan Facility
Of EUR 100,000,000
Of EUR 80,000,000
Arrangers
Arrangers
Of US$ 60,000,000
Arrangers
VTB Bank Deutschland
VTB Bank (Russia)
© 2015 Belarusbank, International Business Department
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Short-term financing
Trade Financing Dynamics
Interbank Transactions (IBC & FOREX)
Foreign Banks’ Credit Lines for Trade Finance Operations and Interbank Transactions: Geography of Cooperation
© 2015 Belarusbank, International Business Department
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International awards
The Banker highly rated the Belarusbank’s brand value placing it 480th in The Top 500 Banking Brands
list
Belarusbank has become the best in Belarus in nomination Best Banks of the emerging market of the
Central and Eastern Europe in 2009, 2010, 2013 and 2015
The Banker appreciated Belarusbank as the best bank of Belarus in 2010. According to the Banker’s
overview results for 2013 Belarusbank occupied 399 place in the world and is in the list of 25 largest
banks of the Central and Eastern Europe by Tier 1 Capital.
In the competition Award for Achievement Belarusbank has become the Best Bank of the Republic of
Belarus
Belarusbank has become the best bank of Belarus in nomination Best Bank of the Central and Eastern
Europe and the CIS
EMEA recognized Belarusbank as “Best bank in Belarus” in 2011 – 2014, “Best investment bank in
Belarus” in 2011 – 2013, “Best broker in Belarus” in 2011, 2013
Belarusbank has won an award Highly Commended of the Trade&Forfaiting Review in the nomination
Deals of the Year in 2011 and 2013
In 2014 Belarusbank has received the Certificate of Merit from the International Coordination Council of
Banking Associations in the CIS, Central and Eastern Europe (the IBC) for the development and
strengthening of the international cooperation in banking sphere
© 2015 Belarusbank, International Business Department
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Contacts
REPRESENTATIVE OFFICES ABROAD
CONTACTS
BELARUSBANK HEAD OFFICE
18, Dzerzhinski Av.,
220089 Minsk, Belarus
Telex: 252408 PION BY
SWIFT: AKBB BY 2X
www.belarusbank.by
Tel.: + 375 (17) 218 84 31
Fax: +375 (17) 226 47 50
E-mail: info@belarusbank.by
TRADE AND STRUCTED FINANCE
Tel.: + 375 (17) 309 06 68
Fax: +375 (17) 289 37 82
E-mail: tradefinance@belarusbank.by
FINANCIAL INSTITUTIONS
CHINA
Wanda Plaza 93 Jianaguo Road,
Building 4, Room 3103,
Beijing, China
Tel.: +86 (10) 596 04 291
Fax: +86 (10) 596 04 290
E-mail: info@belarus-bank.org
GERMANY
43, Oeder Weg
D-60318 Frankfurt am Main, Germany
Tel.: +49 (69) 5979 35 63
Fax: +49 (69) 5979 47 44
E-mail: info@belarus-bank.de
POLAND
6/57, Bielawska St.,
02-511 Warsaw, Poland
Tel.: +48 (22) 844 44 33
Fax: +48 (22) 844 44 80
E-mail: info@belarusbank.com.pl
RUSSIA
119, Mir avenue,
All-Russian exhibition center,
building 18, offices 216-218
129223, Moscow, Russia
Tel./fax: + 7 495 961 28 58,
E-mail: info@belarus-bank.ru
Tel.: + 375 (17) 309 00 89
Fax: +375 (17) 200 88 50
E-mail: cb@belarusbank.by
This presentation was prepared by Belarusbank, International business department. All estimates and opinions included in this presentation constitute our judgments as of
the date of the presentation and may be subject to change without notice.
It is being send to you for your reference alone and it may not be circulated, distributed, reproduced or disclosed (in whole or in part and in any manner whatsoever) to any
other person without the prior written consent of Belarusbank.
© 2015 Belarusbank, International Business Department. All rights reserved
© 2015 Belarusbank, International Business Department
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