OREANDA-NEWS. Fitch Ratings has today affirmed Belarus-based Belagroprombank's ("BAPB") ratings at Issuer Default "B-" (B minus), Short-term "B", Individual "D/E" and Support "5". The Outlook on the Issuer Default rating remains Stable.
 
The Issuer Default, Short-term and Support ratings consider the potential support the bank is likely to receive from the state if needed.

The Individual rating reflects BAPB's high credit risk stemming from large volumes of lending under government programmes and a very high concentration on the agricultural sector.

BAPB's earnings performance remains weak, although initiatives aimed at enhancing operating efficiency have benefited its profitability metrics. The bank's liquidity position is being pressured by rapid loan portfolio growth and increased structural mismatches.

BAPB's Individual rating also takes into consideration the bank's strengthened franchise, adequate capitalization and greater funding diversification.