Gazprombank and Gazprom, as the shareholders of Belgazprombank, declare that on June 11, 2020, the Board of the National Bank of the Republic of Belarus committed illegal actions in violation of the laws of the Republic of Belarus when appointing acting Chairman of the Management Board and acting Deputy Chairman of the Management Board at Belgazprombank. These appointments were accompanied by the detention of authorized members of the Management Board of Belgazprombank by the law enforcement authorities of the Republic of Belarus.
The aforementioned actions were committed in gross violation of the laws of the Republic of Belarus and the Treaty on the Eurasian Economic Union (signed in Astana on May 29, 2014), and directly affect the rights and lawful interests of Russian shareholders of Belgazprombank, as well as the interests of its clients and depositors.
The shareholders of Belgazprombank intend to seek protection of their rights and lawful interests through all legal remedies available, and are doing everything possible to safeguard the interests of the clients and maintain the financial stability of the bank.
Background
Founded in 1990, Belgazprombank is currently one of the largest banks in the Republic of Belarus and a systemically important institution for the non-government sector of the Belarusian economy. The bank takes part in major projects on a national scale (the Fitch Ratings credit rating agency assigned Belgazprombank a long-term issuer default rating of B with a stable outlook) and contributes to charitable efforts.
In November 2019, Belgazprombank received a New Silk Road Finance Award in the Best Local Bank in the Region for BRI (Belt and Road Initiative) category from the reputable business publication Asiamoney.
For five years in a row, Belgazprombank was recognized as the best partner bank of the Development Bank of the Republic of Belarus under the Program for SME support in the Republic of Belarus.
Belgazprombank is an essential part of long-term economic cooperation within the Republic of Belarus and the Russian Federation, with Gazprombank (current share: 49.818 per cent) and Gazprom (current share: 49.818 per cent) as shareholders and guarantors of the bank’s stability on the part of Russia.
