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Belagroprombank, Helaba sign agreement on long-term financing

Economy 17.11.2017 | 12:23

MINSK, 17 November (BelTA) - Belagroprombank and the German bank Helaba Landesbank Hessen-Thuringen concluded a general loan agreement to finance long-term loans with insurance coverage to be provided by national export agencies, BelTA learned from Belagroprombank's public relations department.

“Developing a solid legal framework with the Bank that has a strong financial position and an extensive customer network in the industrialized regions of Germany will increase the capacity of Belagroprombank in terms of long-term financing of foreign trade projects of our customers and will enable us to carry out the transactions on the terms that best meet the needs of our clients,” Belagroprombank said.

Belagroprombank is second largest bank in the Belarusian banking system in terms of assets, capital, retail deposits and corporate loans. The Bank has an extensive branch network in Belarus, more than 100 partner banks worldwide in financing foreign trade. Belagroprombank has about 1.7 million retail customers and approximately 40,000 corporate clients. Standard & Poor's affirmed Belagroprombank's ratings at “B-” with a stable outlook (which is aligned with the sovereign rating). Belagroprombank has been operating since 1991. The bulk of the Bank's authorized capital belongs to the Republic of Belarus.

Helaba Landesbank Hessen-Thuringen is one of the leading universal banks in the financial center of Frankfurt am Maine, with the total assets of about €164 billion. The Bank offers financial services to companies, banks, institutional investors and the public sector, both within Germany and internationally. The Bank is the central clearing institution and service provider for 40% of German savings banks. The bank maintains branches in France, Ireland, the United States and the UK, in Paris, London, New York, Madrid, Moscow, Shanghai and Stockholm. The Bank's long-term credit rankings are as follows: "А", Stable Outlook (Standard & Poor's), "А1", Stable Outlook (Moody's); "A+", Stable Outlook (Fitch).

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