Moody's rates Belpromstroibank Ba1

Moody's Investors Service said it assigned Ba1 long-term and Not Prime short-term local-currency deposit ratings and E+ bank financial strength rating to JSC Belpromstroibank.

The outlook is stable.

The issuer's baseline credit assessment of B2 reflects its market position as the country's third largest bank by assets, good financial indicators and asset quality, Moody's said.

The assessment is constrained by the bank's fairly weak corporate governance, likelihood of the government's interference, borrower concentration and growing competition from other large Belarusian banks, the agency said.

The bank's Ba1/NP long-term and short-term local-currency deposit ratings consider systemic support probability, Moody's said.

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