Belarusian banks come out of financial crisis in better shape than many foreign banks

Belarusian banks came out of the crisis in a better shape than many foreign banks, Craig Bell, IFC Resident Representative for Belarus, told reporters in Minsk.

One of the reasons was the absence of the credit boom in Belarus as was the case in western countries, Craig Bell believes. He also lauded the steps of the Belarusian government to improve the environment for the operation of small and medium-sized business, which is good for the development of the banking sector. 

The Belarusian banking sector is more stable and stronger that the Ukrainian one, said Director General of the Bank of Georgia Irakly Gilauri. “We do business in the two countries. Therefore we can watch and compare. The banking sector is definitely stronger in Belarus than the one in Ukraine. More so, we predict its robust growth in the next two or three years,” he said. 

The International Finance Corporation (IFC) was founded in 1956. The IFC’s shareholders are 181 states. The IFC fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments.

The Bank of Georgia is a leading full-service bank in Georgia providing banking services in Georgia, Ukraine and Belarus. Its clientele features over 996,000 retail and 157,000 corporate current accounts. The bank’s network in Georgia includes 137 offices. The Bank of Georgia is the major shareholder of the Belarusky Narodny Bank.

According to Belarusian portal