OREANDA-NEWS. August 16, 2012. The Government of Belarus has adopted a resolution to provide reimbursement to OJSC Belarusbank in 2012-2013 for the losses, which result from a series of export loan provided by the bank to the country’s three sugar refineries.

The losses will be compensated from the budget resources in 2012-2013.

OJSC Belarusbank provided a USD 9.572 million export loan under CIRRs for Zhabinka sugar refinery, a USD 8.784 million loan to Gorodeya sugar refinery, and two loans worth USD 5.259 million and EUR3.35 to Skidel sugar refinery.

Belarusbank was founded in July 1991 and merged with Belarus’ Sberbank in October 1995. The state holds a 99.7% share in the bank’s statutory capital.

The resource base of Belarusbank, Belarus’ largest commercial bank, reached 114 trillion Belarusian rubles (Br) in January-June 2012 (USD 13.6 billion at the central bank’s rate), up 13.5%.

The bank’s regulatory capital went up 4.7% in January-June 2012 to 19.4 trillion rubles (USD 2.3bn). Its charter capital stands at 16.2 trillion rubles (EUR1.546 million).

Fitch Ratings confirmed March 23, 2012 Belarusbank’s Long-term Issuer Default Ratings (IDRs) to 'B-' from 'B'; Outlook “Negative”.