OREANDA-NEWS. November 11, 2014. Belgazprombank received the Gold Award of the Banking Association for Central and Eastern Europe (BACEE) in the annual report competition.

The winners of the annual report competition were determined during the 29th BACEE Regional Banking Conference held in Budapest (Hungary) 13-14 October, 2014. Belgazprombank was the only bank from the CIS and Baltic States awarded with the gold nomination for the excellent presentation of the bank during the event and high quality of the financial statements compiled in accordance with IFRS for 2013.

The BACEE 2013 Аnnual Report CompetitionGold Award was for the first time ever given to banks and non-banking financial institutions of the Central and Eastern Europe, South-East Europe and CIS. More than 60 leading financial institutions from 20 countries of the region were invited to participate in the competition. The evaluation criteria included the analysis of the quality of financial reporting, transparency and scope of disclosure, implementation of integrated financial statements.

Obtaining this award is the result of high professionalism of the Bank’s staff responsible for financial statements. Also it reflects international recognition of the transparency of the Bank’s accounting procedures and will increase confidence of the foreign financial institutions in developing business with Belgazprombank.

BACEE is a non-profit banking association founded in 1996 with the goal of promoting business relations of its member banks with financial institutions of Central and Eastern Europe. The role of the association in the region has been constantly growing. At present it has 33 member banks from 18 countries including Hungarian Export Credit Agency MEHIB, International Bank of Azerbaijan, International Investment Bank, Intesa Sanpaolo SpA., Societe Generale, UniCredit Bank Austria AG and others.