Report of head of Belgazprombank’s provisional administration Nadezhda Yermakova

Belarus is not going to liquidate or destroy Belgazprombank. Contrariwise, everything will be done to keep Belgazprombank working and providing benefits. Belarus President Aleksandr Lukashenko made the statement as he received a report from the head of Belgazprombank’s provisional administration Nadezhda Yermakova on 24 November.

At the beginning of the meeting Aleksandr Lukashenko thanked Nadezhda Yermakova for her agreement to head the provisional administration and for her managing to stabilize the situation in Belgazprombank in a difficult period of time. History will remember this fact, the President noted.

Aleksandr Lukashenko said: “I would like to stress that we are not going to liquidate or destroy the bank or somehow worsen the bank’s operation. Contrariwise, we will do everything for the bank to function and benefit our state.”

Aleksandr Lukashenko stated with satisfaction that according to various reports on Belgazprombank’s operation, including those filed by oversight agencies, the bank is operating steadily. “The bank has even managed to exceed profit projections in this period. It is a good signal although business matters are still on the radar, business has not fully recovered yet. And it has nothing to do with the domestic policy we pursue. It is due to the policy the partners pursue,” he noted.

Aleksandr Lukashenko said he expects that these problems will be resolved by mid-December, by the time the powers of the provisional administration will expire. The management of the bank will have to be formed by then. “Because the state puts a very serious bet on this bank. We’ve discussed it with President of Russia Vladimir Putin. He told me that the bank should keep working. Why would anyone destroy it?” the head of state reminded.

According to Aleksandr Lukashenko, the Belarusian side suggested the joint management of the bank to Russian shareholders and other shareholders. “If they don’t want to work, fine. It means we will have to work on our own. We supported the bank in a difficult period of time, we restored it, supported liquidity, and restored its working capacity. I think we can handle it, it is not that big of a problem,” he stated.

Aleksandr Lukashenko also said he had received a report after the State Control Committee had inspected Belgazprombank’s operation. The provisional administration and the bank shareholders had been informed about results of this inspection as well. “We do it publicly. I think we will finish all the procedures soon, by mid-December. I am convinced this bank will work for the sake of development of the economy,” he said.

Apart from Belgazprombank’s operation and the formation of the future management of the bank Aleksandr Lukashenko and Nadezhda Yermakova also discussed the current situation in the Belarusian economy as well as global challenges and threats of economic nature.