Alexander Lukashenko Receives Chairperson of the Board of the Open JSC “ Belarusbank Savings Bank” Nadezhda Yermakova
(press release by press service of the President)

On November 19, President of the Republic of Belarus Alexander Lukashenko received Chairperson of the Board of the Open JSC “Belarusbank Savings Bank” Nadezhda Yermakova.

The meeting between Nadezhda Yermakova and the Head of the State was held on the eve of the Bank’s anniversary (in December, this major financial institution of our country is going to mark its 80th anniversary). The meeting focused on the results of the Belarusbank activities over the past period. Some immediate working objectives were also discussed.

As of today, the Belarusbank operates in a stable way. The share of its assets in the republic’s GDP totaled 12.4 per cent in 2001 (in 1996, this indicator reached 6.4 per cent).

The Belarusbank, which gives a state-backed guarantee on bank deposits, has gained confidence among the public. It is proved by the fact that the deposits in Belarusian rubels have actually doubled over nine months of the current year. As regards the deposits of the Belarusian citizens which are kept at the Bank since 1996, they have not only proved to be protected against inflation but have brought profit to their holders, stressed Nadezhda Yermakova.

The Belarusbank is the only state-owned bank which succeeded in entering the international financial market. Two credit lines without government guarantees have been extended to the Belarusbank in the second part of this year (USD 19 million and Euro 5 million respectively), which is indicative of the confidence on the part of Western partners.

Thus, the decision taken by the President in 1995 on the establishment of a state-owned all-purpose bank for rendering both saving and commercial services has proved to be correct.

The meeting paid special attention to the issue of developing the bank plastic cards in Belarus (as of today, 224 thousand cards have been issued). So far, the bank plastic cards have mostly been used for wage and salary payments, but already next year the main efforts will be aimed at developing the infrastructure for the use of plastic cards in the field of trade and services.

The President pointed to a need to continue active introduction of bank-card-based payments. The Head of the State also urged to do everything that is required in order to preserve stability and reliability of the Belarusbank, to make its services meet the international standards.