Audited IFRS Financials

Dear Customers and Partners!

The year 2009 has been the time of large-scale transformations for our bank. In a large part, the changes are related to the injection of another 75 million US dollars by our Russian stakeholders, Gazprom and Gazprombank, in the authorized fund. The investment was made despite the global economic crisis and negative changes in the Belarusian and Russian economies. Thus, Belgazprombank’s authorized fund has increased by $150 million over the two past years.

Other important events in 2009:

• A $30 million loan from the European Bank for Reconstruction and Development for SME financing was issued in the framework of a $40 million credit line approved by the EBRD Board in October 2008;
• International Finance Corporation issued a $10 trade finance guarantee and then increased it to $30 million by the end of the year;
• EBRD credit line opened for trade finance was increased to $10 million;
• Fitch Ratings confirmed Belgazprombank long-term foreign currency Issuer Default Rating at ‘B’;
• Belgazprombank won the Best Entrepreneur of the Year contest in the Best Bank Providing Services to Entrepreneurs nomination for the third time;
• Belgazprombank entered VISA International payment system as a principal member and started issuing Visa cards; the first Belarusian bank to issue Visa Platinum premium cards.

Founded in September 1990, our bank is approaching its 20th anniversary as a backbone financial institution for the middle class, our main client segment and the most active part of the society.

Belgazprombank’s position in the bank system of Belarus has improved by a number of parameters. Currently, it ranks fourth in the banking system by authorized fund, fifth – by profit and seventh – by assets and equity. In 2009 the bank’s profit totaled 67.8 billion Belarusian rubles (almost $25 million). Profit per employee (in dollars) increased 1.5-fold. The bank occupies a leading position by profit growth rate among its competitors.

Capital investments as well as growth of resources caused the bank’s assets to grow – they increased in 2009 almost 1.5-fold to reach 2 trillion 133 billion rubles (773 million US dollars) as of 1 January 2010. The regulatory capital exceeded 0.5 trillion rubles (200 million US dollars) – having doubled over a year.

Social responsibility has always been an important aspect of the bank’s activity. We have been long cherishing our traditions of rendering charity and sponsor aid. With constantly improving financial performance, we are able to increase the scope of such aid. We focus on supporting social projects, public organizations, sporting and cultural events.

One of the biggest charity projects is the support of the Chance International Children’s Charity Foundation. Founded back in 2008, the foundation made great progress in 2009 helping physically handicapped children. Chance has been the first charity institution to develop and implement an efficient mechanism of aiding children in need through donations to particular children. The organization attracted over 1 billion Belarusian rubles from businesses and individuals and helped 52 children by funding surgeries, medical examinations in the world’s best clinics, medicals and medical equipment.

In 2009 Belgazprombank jointly with the Yanka Kupala National Academic Theatre held a ‘Theatre Week with Belgazprombank’, a cultural event that took place as part of the 4th Panorama drama festival.

Belgazprombank Handball Cup, Belarus’ only international handball tournament, is becoming increasingly popular and annually brings together the most renowned European teams.

We are convinced that the bank’s 20-year successful performance is an excellent springboard for further growth and development.

Deloitte & Touche AUDITORS' REPORT full version 2009 (pdf-file - 341 Kb)

Deloitte & Touche AUDITORS' REPORT full version 2008 (pdf-file - 330,9 Kb)

Ernst & Young AUDITORS' REPORT full version 2007 (pdf-file - 875,8 Kb)

Ernst & Young AUDITORS' REPORT full version 2006 (zip-file - 650,8 Kb)

Deloitte & Touche AUDITORS' REPORT full version 2005 (zip-file - 194,7 Kb)

Deloitte & Touche AUDITORS' REPORT full version 2004 (pdf-file - 310,9 Kb)

Deloitte & Touche AUDITORS' REPORT full version 2003 (zip-file - 3,3 Mb)

Deloitte & Touche AUDITORS' REPORT full version 2002 (document word - 525,8 Kb, zip-file - 75,8 Kb)

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