Annual report 2000

CONTENTS:
FOREWERD
3
SUPERVISORY BOARD
4
ORGANISATION CHART
5
MANAGEMENT BOARD
6
AUTHORISED CAPITAL AND SHAREHODERS
8
LENDING AND EXPORT PROMOTION OPERATIONS
9
CORPORATE BANKING
12
TRADE FINANCE
13
SECURITIES MARKET OPERATIONS
15
MONEY AND FOREX MARKET OPERATIONS
16
BANKING TECHNOLOGIES
17
RETAIL BANKING
18
BANK CARDS
20
BRANCH NETWORK
20
SUBSIDIARIES
21
HUMAN RESOURCES DEVELOPMENT
22
COMMUNITY SUPPORT AND SPONSORSHIP
23
2
Dear Shareholders and Customers,
On behalf of the Supervisory and Management Boards
we are privileged to submit to you the 2000
Belvnesheconombank Annual Report.
accounting year, foreign financial input in Belarus arranged
with the assistance of Belvnesheconombank totalled an equivalent of USD 118 million.
In the year under review, Belvnesheconombank along
with the entire banking industry of Belarus operated under a
fundamentally new governmental monetary policy aimed at
checking inflation, levelling off currency exchange rates in
various segments of the money market, tightening money supply, and implementing state programmes by raising funds
predominantly from the domestic banks. Despite the new
challenges the Bank retained its position within the country’s
banking community, remaining one of the top-performing
financial institutions in Belarus.
Ensuring consistent compliance with the regulations of
the National Bank of the Republic of Belarus, the Bank pursued a carefully weighed policy in the market of financial
services. We managed to reduce credit, exchange and other
risk exposures, and increased the volume of asset-side operations, net worth and profits in real, inflation-adjusted, terms.
Belvnesheconombank provided a substantial financial
assistance to the key industries by increasing the volume of
lendings to the real sector of the economy by 2.9 times. The
volume of loans to the agroindustrial sector was also significantly increased. Discharging the functions of the country’s
export bank, Belvnesheconombank handled USD 3.9 billion
worth of foreign trade transactions for its customers attaining
a growth of 8.3% on the year before. By managing disbursements from the Export Promotion Fund, the Bank participated in the financing of 39 exporting companies. In 2000,
Belvnesheconombank serviced credit lines extended by
Austria, Germany, Spain and the Czech Republic under the
sovereign guarantees of the Belarus government. Over the
Chairman of the Supervisory Board
Chairman of the Management Board
Mikhail Khvostov
Georgy Egorov
CHAIRMAN
Konstantin GHISAK
Genaral Director,
Khimvolokno Production Association, Mogilev
Mikhail KHVOSTOV
Deputy Prime Minister of the Republic of Belarus,
Minister of Foreign Affairs of the Republic of Belarus
Yuri DEDUK
Vice Chairman of the General
Assembly of Belagrointorg , Minsk
DEPUTY CHAIRPERSONS
Anatoly ZABAZNOV
Deputy Chairman,
Vnesheconombank, Moscow
SUPERVISORY BOARD*
Natalia ALEKSEEVA
First Deputy Chairman of the
National Bank of the Republic of Belarus
Aleksei VAGANOV
Chairman of the Standing Commission on Monetary
and Lending Policy and Banking Affairs of the
Chamber of Representatives of the
National Assembly of the Republic of Belarus
Leonid KALUGIN
President,
Atlant Joint Stock Company, Minsk
Aleksandr KERNOZHITSKY
Financial Department Director,
Minsk City Executive Committee
Nikolai RUMAS
First Deputy Minister of Finance
of the Republic of Belarus
Anatoly KUPRIYANOV
General Director,
Valery SEMENOV
General Director,
Stroikomplekt Company, Minsk
Leonid SAMOILOV
Chief accountant,
Naftan Production Association, Novopolotsk
MEMBERS OF THE SUPERVISORY BOARD
Vadim FILIPOV
General Director,
Belarusian Steel Works, Zhlobin
Loran ARINICH
General Director,
Pinskdrev Collective Association
Mozyr Oil Refinery
Nina ATAMANOVA
General Director,
Spartak Joint Venture, Gomel
Nikolai BELKO
General Director,
Kristall Minsk Regional Association
of Starch Industry (Minskkrakhmalprom)
Zinaida VALEKHA
President,
Milavitsa Closed Joint Stock Company, Minsk
Viktor VLADYKO
Chairman of the Management Board,
Belkoopsoyuz, Minsk
4
*As from March 29, 20001. For the 1999 Supervisory Board and
Board of Directors see page 28.
ORGANISATION CHART OF BELVNESHECONOMBANK
General Meeting of Shareholders
Supervisory Board
Management Board
Chairman of the Management Board
Deputy Chairman of the Management Board
Valuables
Department
Bank Cards
Department
Centre of
Banking Services 1
Kolyadichi Centre
of Banking Services
Deputy Chairman of the Management Board
Credit
Department
Export-Import Operations
Department
Deputy Chairman of the Management Board
Deputy Chairman of the Management Board
International
Department
Treasury
Deputy Chairman of the Management Board
Financial
Directorate
Collaterals
and economic valuations division
Department of
Banking Systems and Technologies
Construction and Maintenance
Directorate
Internal Audit
Division
Deputy Chairman of the Management Board
Strategic Management
Department
Corporate Customer Service
Department
Legal
Department
Administration
Department
Security
Division
5
MANAGEMENT BOARD*
CHAIRMAN OF THE MANAGEMENT
BOARD
MEMBERS OF THE MANAGEMENT
BOARD
Georgy EGOROV
Zinaida KUSHNEROVA
Financial Director, Chief Accountant
DEPUTY CHAIRMAN OF THE
MANAGEMENT BOARD
Anatoly BONDAREV
Director of Strategic Management Department
Valentin Zayash
DEPUTY CHAIRMAN OF THE
MANAGEMENT BOARD
Iossif MANENOK
DEPUTY CHAIRWOMAN OF THE
MANAGEMENT BOARD
Ludmila FILIPOVICH
Stepan BRISHTELEV
Director of Administration Department
Vitaly TRUSHKO
Director of Banking Systems and Technologies Department
Rostislav KRIVITSKY
Director of Legal Department
Sergei SHCHERBAK
Natalia PESOTSKAYA
Director of Corporate Customers
Service Department
DEPUTY CHAIRMAN OF THE
MANAGEMENT BOARD
Grigory TISHKEVICH
Director of Construction and Maintenance Directorate
DEPUTY CHAIRMAN OF THE
MANAGEMENT BOARD
Director of International Department
Yuri TIAVLOVSKY
DEPUTY CHAIRMAN OF THE
MANAGEMENT BOARD,
Director of Credit Department
Georgy Toufatoulin
Svetlana ZHURAVLEVA
Head of Internal Audit Division
Mikhail LESUN
Manager of Gomel Branch
*As from March 29, 20001. For the 1999 Supervisory Board and
Board of Directors see page 29.
6
AUTHORISED
CAPITAL
SHAREHODERS
AND
FanDOK Open Joint Stock Company, Bobruisk - Belarus's
major manufacturers of furniture, plywood, veneer and wood
panels;
As at 1 January 2001 Belvnesheconombank's paid-in and
registered authorised capital totalled BYB 10040 million
scoring a 25-fold increase over the year before due to the
allotment of unrealised exchange gains from revaluation of
foreign cash contributions previously made to the authorised
capital.
Motovelo Open Joint Stock Company, Minsk - the country's largest manufacturer of motorcycles and bicycles;
Railway Car Repair Works, Gomel;
Metal Hardware Works, Retchitsa;
Stroykomplekt , Minsk - a construction materials wholesaling company;
A considerable part of the authorised capital is made up
of freely convertible currency contributions comprising USD
9091.1 thousand, DEM 1090.5 thousand and FRF 208 thousand.
Brest Carpets Open Joint Stock Company, Brest;
Milavitsa Closed Joint Stock Venture, Minsk and Cotton Wear
Production Association, Baranovichi - the country's largest
light industry enterprises;
To date, Belvnesheconombank's shareholders include
216 legal entities and 2544 individual investors.
Lada - OMC Belarusian-British Joint Venture, Minsk Ford Motors official dealer in the Republic of Belarus;
Druzhba Oil Pipeline, Novopolotsk;
Among the Bank's shareholders there is the National
Bank of the Republic of Belarus (46.58%), Ministry for State
Property Management and Privatisation of the Republic of
Belarus (12.45)%, and Minsk City Executive Committee
(1.73%), with other prominent equity participants being
Belarusian Transportation and Condensed Gas Supply
Enterprise, Novopolotsk;
Open Joint Stock Companies Belmagistralavtotrans,
Minsk, Brestintertrans, Brest, Avtovneshtrans, Minsk,
Westavto, Brest, Minskintertrans Collective Enterprise -
The Bank for Foreign Economic Affairs of the USSR
(Russian Federation, Moscow);
major domestic and cross-border road transport companies;
Beltekhexport Closed Joint Stock Company, Minsk,
Eurofinance Joint Stock Commercial Bank (Russian
Federation, Moscow);
Kobri Joint Stock Company, Kobrin; limited liability companies Transit, Brest, and Traipl, Minsk, produc tion commer-
Banque Commerciale pour l'Europe du Nord - Eurobank
(France, Paris);
cial firm Nik-Agro, Brest - the country's leading SMEs;
Belagrointorg
Belarusian Steel Works, Zhlobin - the country's largest
manufacturer of metal products and metal cord;
Atlant - Household Refrigerator Manufacturing Closed
Closed
Joint
Stock
Company;
Belorusintorg - Republican Foreign Trade Company, Minsk,
Belcoopvneshtorg Belcoopsoyuza Foreign Trade Firm, Minsk
- leading foreign trade companies.
Joint Stock Company, Minsk;
Growth of authorised capital,
(BYB, million)
Mozyr Oil Refinery and Naftan Oil Refinery - Europe's
10040.0
largest oil refineries;
Khimvolokno Production Associations in Mogilev,
Grodno and Svetlogorsk - major chemical fibre producers;
Belaruskaliy Production Association, Soligorsk - the
401.6
Starch Industry,
401.6
Kristall - Production Association of
401.6
largest producer and supplier of mineral fertilisers;
1998
1999
2000
Minsk - the country's leading producer and supplier of spirits
Spartak Joint Venture, Gomel - Belarus's largest sweets
manufacturer;
Pinskdrev Closed Joint Stock Company, Pinsk and
8
93.0
and vodka;
1997
2001
Breakdown by Type of Ownership
State
LENDING AND EXPORT
PROMOTION OPERATIONS
74.14%
In 2000, Belvnesheconombank, one of the country's
major lending institutions, accounted for 8% of all loan input
in the national economy by the domestic banking industry
(4th place), thereby retaining its position in this segment of
the financial market. At end-2000, loans constituted 40% of
the Bank's assets (BYB 105.8 billion).
Private
In the year under review, the Bank continued to extend
loans in BYB and foreign currency with the share of FC loans
remaining traditionally high - 86% or USD 77 million in the
equivalent. About 70% of the loans were issued to manufacturing industries. Nearly half the loans went into long-term
investment projects.
eo
usiv
(incl
%
.79
f1
of
25.86%
ind
ivid
ua
ls)
Over 2000, the amount of BYB-denominated lendings
totalled BYB 52.4 billion while FC loans reached USD 33.7
million.
Major Shareholders
46.58%
12.45%
5.07%
2.75%
1.7
1.62 3%
%
2.29%
2.36%
17.46%
3.08%
4.61%
National Bank of the Republic of Belarus
As before the key element of Belvnesheconombank's
lending policy was to finance the real sector of the economy,
primarily the country's largest exporting companies, including
Belarusian Steel Works, Khimvolokno-Mogilev Artificial
Fibres, Horizont TV-Set Making Company, MinskParquet,
Atlant Refrigerator-Manufacturing Company, Milavitsa
Garments Factory, Eliz Garments Factory, Elma Knitting
Factory, Spartak Confectionaries, Pinskdrev Wood-Working
and Furniture Factory, Brest Dairy Plant, Brest Meat-Packing
Plant, Lakokraska Paints and Varnishes, Mogilev Steel
Works, and Kalinkovichi Fur Farm to mention just a few.
The loans advanced by the Bank to the borrower companies were earmarked for replenishing working capital,
expanding manufacturing capacities and launching new products.
Ministry for State Property Management and
Privatisation of the Republic of Belarus
Belarusian Steel Works
Lada-OMS Belarusian-British Join Venture
Mozyr Oil Refinery
Atlant Join Stock Household Refrigerator Manufacturing Company
Belinterfinance Closed Join Stock Company
Belvneshstrakh Insurace Company
Significant loan disbursements were made to Belarusian
Steel Works under two credit facilities opened in 2000 by the
Bank out of its own resources and allocations from the State
Export Promotion Fund. As a result the borrower achieved
planned export targets exceeding its year-earlier sales in the
markets outside the CIS countries by 16% with prevalence of
exports over imports of USD 94.9 million in value terms.
Belagrointorg Closed Join Stock Company
State Property Managenent and
Privatisation Board of Minsk City Executive Commettee
Other
Since 1995 Belvnesheconombank has been playing a
prominent role in financing Atlant projects targeted on the
production of competitive environmentally/ozone friendly
9
tion projects of Mogilev Steel Works enabled it to purchase
raw materials required for its main line of business, production of iron-cast pipes, and push up its sales in the Russian
market.
In December 2000, we began financing a joint HorizontAlmagor 5-year project of purchasing foreign-made components for the manufacture of Horizont colour TV-sets with
new service functions. The implementation of the project
would allow the manufacturer to additionally produce about
900 000 TV-sets and raise foreign exchange earnings twofold.
As a result of a lending support by the Mozyr Branch,
1.01.00
1.04.00
1.07.00
1.10.00
Short-term Loans
11006.4
48997.4
10084.8
27515.6
23656.7
7204.5
16452.2
20660.8
6602.2
14058.6
10737.3
Owing to Belvnesheconombank's lendings in 2000, Brest
Meat-Packing Plant managed to raise its volume of production two-fold and meet payment obligations towards its suppliers.
16741.0
A revolving credit facility opened in 2000 to Milavitsa to
purchase foreign-made raw materials allowed to increase the
output of ladies' underclothes and garments by 38% and, as a
consequence, to boost exports 29% on the year before.
37600.4
60003.8
Short-term Loans,
(BYB, million)
6003.7
the Company additionally produced 15.2 thousand TV-sets
and attained a 12% growth in its export earnings from sales on
the Russian market.
1.01.01
In national currency
In free convertible currencies and currencies with restricted conversion
Loan investments,
(BYB, million)
105776.9
85.9%
85.5%
expand the output of new confectionery products, increase
export sales and retain its niche in the country's food market.
1.01.00
1.04.00
1.07.00
Short-term Loans
1.10.00
4185.7
3290.6
51420.6
37914.9
34865.7
26582.6
2813.8
In free convertible currencies and currencies with restricted conversion
23768.8
19345.1
14963.8
1.01.01
Share of foreign currency loans (%)
2963.3
1.10.00
90813.1
13375.4
78936.2
10253.7
1.07.00
In national currensy
16381.8
1.04.00
51317.9
9416.0
37827.4
8967.0
27119.1
Total
53.6%
54711.2
59.3%
56.3%
1.01.00
43.3%
61.6%
3049.2
36086.1
47243.4
75.2%
61571.6
80.1%
Long-Term Loans,
(BYB, million)
92311.6
83.3%
As regards long-term loans, in the accounting year the
Bank was primarily engaged in monitoring the loans previously issued to finance investment projects.
457773.1
A loan disbursed to Spartak by Belvnesheconombank's
Gomel Branch allowed it to raise its production volumes,
Kalinkovichi Fur Farm was able to meet its obligations with
regard to payments for the procurement of feedstuffs and veterinary supplies, and execution of current repairs. As a consequence, in the year under review the Farm managed to retain
accelerated mink-breeding technology and meet the market
demand for mink furs.
1.01.01
In national currency
In free convertible currencies and currencies with restricted conversion
A loan investment made by the Gomel Branch in produc-
10
Share of long-term loans in th total volume (%)
3957.4
Meanwhile a loan input in Lakokraska's working capital
helped the Company increase its output, purchase raw materials and feedstock and update the line of products bringing to
the market a variety of quality paints and varnishes.
manufacturing base, expand output and increase export earnings.
In 2000, the Bank made considerable loan investments in
the country's farming industry totalling USD 12.8 million and
BYB 5 billion. Over the past two years the aggregate input in
agroindustrial companies amounted to USD 28.3 and BYB
7.6 billion scoring a three-fold increase.
1.01.00
1.07.00
Total
State
Private
Other
10032.5-9.5%
46822.5-44.3%
In the course of 2000, in addition to disbursing loans out
of its own funds the Bank also performed agency functions
with regard to credit facilities made available under intergovernmental credit lines extended to Belarus under government
guarantees.
9813.3-9.3%
39108.6-37.0%
105776.9-100%
OVERSEAS CREDIT LINES
6448.7-10.4%
29393.9-47.5%
4572.0-7.4%
61871.6-100%
21457.0-37.4%
99.5-2.8%
16366.7-45.4%
5196.3-14.4%
36086.1-100%
13526.6-37.5%
Loan Portfolio Breakdown
by Type of Ownership
(BYB, million)
1.01.01
Collective
In addition to lending, in 2000 the Bank also assisted its
corporate customers by performing uncovered documentary
operations. Performance guarantees were issued on behalf of
LukOil-Belarus, Horizont, BelaAvtoGaz and several other
customers.
34389.5-32.5%
4922.0-4.7%
1544.4-1.5%
493.7-0.5%
18.9-0.2%
64363.0-60.9%
1105731.5-100%
61843.6-100%
33196.5-53.7%
13804.4-38.3%
1792.5-5.0%
304.5-0.8%
166.5-0.5%
69.4-0.2%
36056.0-100%
19918.7-55.2%
23730.6-38.4%
3135.4-5.1%
12959.8-2.0%
510.4-0.8%
10.9-0.0%
1.07.00
Within the framework of the AKA/Hermes credit line
(Germany), the amount of loans extended over 2000 under the
relevant Individual Loan Agreements totalled EURO 12.23
million (1999 - EURO 10.89). The borrowed funds were
made available for the delivery of agricultural machinery
under two Belagrosnab projects worth EURO 7.24 million
and EURO 4.99 million respectively. As a result 56 grain
combine harvesters and relevant spare parts have already been
supplied to Belarus.
During the year under review financial arrangements were
worked out for the delivery of a sawmill with an annual capacity
of 30 thousand m3.
In 2000, Belvnesheconombank continued to service five
projects within the Austrian credit line under OKB export
credit insurance. The most important of them were the
Ministry of Health and Mozyr Oil Refinery projects.
Load Portfolio Breakdown by Industry
(BYB, million)
1.01.00
During 2000, we actively interacted with the National
Bank Project Management Group and EBRD Representative
Office in monitoring projects currently implemented under
the EBRD SME Support Project and seeking new forms and
methods of supporting the SME sector in Belarus. Jointly with
the EBRD we worked on designing a framework for financing working capital, crediting lease operations and implementing micro-finance programmes.
1.01.01
Total
Manufacturing
Other industries
Trade and Public Catering
Agriculture
Construction
In the year under review the Bank continued to service
loan agreements signed with the Czech Export Bank in 1999
to finance BelAZ upgrading project. The amount of funds disbursed under this credit line reached USD 41.4 million out of
a total of USD 102.1 million earmarked for the project.
Another USD 57.9 million was provided under arrangement with the Czech Republic for the implementation of
Belagrointorg grain project. The funds were used to ship 64.4
thousand tonnes of feeding grain and 382.6 thousand tonnes
of milling wheat to Belarus.
In 2000, Belvnesheconombank continued to perform its
Utilities and non-productive municipal services
11
PROMOTION OF EXPORTING INDUSTRIES
Since the Agreement between the Council of Ministers of the
Republic of Belarus, the National Bank of the Republic of
Belarus and Belvnesheconombank "On the Fulfilment of
Export Bank Functions by Belvnesheconombank and
Implementation of Export Promotion Measures" was brought
into force, Belvnesheconombank has been successfully discharging the functions of agent of the Belarus Government in
managing state-financed export promotion programmes. The
accounting year became a year of a marked increase in the
operations of the Export-Import Department to exercise coordination of relevant operations within the Bank.
In 2000, it received 51 applications in the aggregate amount
of BYB 21 billion from exporting companies for funding
from the State Export Promotion Fund. Following the examination of the business plans, 39 applications were accepted.
The amount of funds disbursed to finance the approved projects totalled BYB 7212.8 million over the year with 22 companies receiving full funding requested and eight companies
obtaining partial funding.
Largely owing to the credit facilities from the Export
Promotion Fund, such companies as Avtogydrousilitel,
Borisov, Agat, Minsk, Lenta and Mogotex, both of Mogilev,
attained considerable gains from export sales. Lenta and
Mogotex increased their exports in 2000 by USD 1,835,100
and USD 4,026,000 respectively.
With a view to securing a timely repayment of the principal
and
interest
payments,
throughout
the
year
Belvnesheconombank implemented necessary measures to
ensure that Export Promotion Fund beneficiaries meet their
contractual obligations. Jointly with the state authorities the
Bank exercised stringent control over the target application of
funds.
12
CORPORATE BANKING
The Bank’s prime goal has always been to ensure maximum customer satisfaction and provide the broadest possible
spectrum of banking products. The Supervisory and
Management Boards of the Bank pursue a consistent policy of
helping our customers attain maximum efficiency and
enhance business performance thereby contributing to the
growth of the country’s economic potential. The implementation of this strategy finds reflection, above all, in the growing
trust placed in the Bank. As of January 1, 2001 we managed
9,738 customer current accounts including 6,225 accounts in
the national currency and 3,513 foreign-currency accounts.
Over a thousand new customers joined the Bank in 2000. The
largest of them are Gomel Distilleries, Baranovichi Fur Farm,
LukOil-Belarus Joint Venture, MinskParquet Company,
Belarusian Furs Joint Venture, Borisov Musical Instrument
Factory and BelWillesden Foreign Company. As of January 1,
2000, the total number of customers reached 7001 with joint
and foreign-owned ventures and non-state sector businesses
accounting for the bulk of newly opened accounts.
Attracted by its solid business reputation and international standing, most of top-flight exporting companies of Belarus
choose to do business with Belvnesheconombank. Among our
most important customers there are such well-known companies as Belarusian Steel Works, Minsk Tractor Works, BelAZ
Automotive Company, Atlant Household Refrigerator
Manufacturing Company, Khimvolokno Artificial Fibres
Companies in Mogilev and Svetlogorsk, Naftan Oil Refinery,
Mozyr Oil Refinery, Belaeronavigatsiya, Keramin,
Beltekhexport, Belavia National Airlines, Pinskdrev WoodWorking Company, Planeta Hotel, Belshina Tyre
Manufacturing Company and many others.
Among the Bank’s customers there are quite a few companies with foreign capital participation. As of January 1,
2001 over 600 joint and foreign-owned companies held their
local and foreign currency accounts with the Bank. Among
them there are such companies well-known in Belarus as
MAZ-MAN Joint Venture, McDonald’s Restaurants, Coca
Cola Beverages Belorussiya, Le GRAND Joint Venture,
Lada-OMC Joint Venture, Itera-Bel Joint Venture, Spartak
Joint Venture, Milavitsa Joint Venture, Alcatel Joint Venture,
Transit Joint Venture, Sopotex Joint Venture, Belpack Joint
Venture, Testa Joint Venture, Amico Joint Venture, GatovoTannery Ltd. Joint Venture and a number of other business
entities.
TRADE FINANCE
Profit from Imternational Payments (USD)
120000
60000
40000
A considerable amount of transaction business handled
by the Bank over the year was generated by a vast customer
base of corporate entities engaged in foreign trade business.
Belarusian exporters accounted for most of international settlement transactions.
Desember
November
October
September
August
July
June
May
Aipril
20000
March
5984
3.1%
Despite taking preventive measures, the Bank was unable
to cushion the negative impact of domestic market instability
and deterioration in the financial position of many of its customers on its foreign trade business. The volume of transactions in 2000 totalled USD 2.8 billion, down on the previous
year's results.
7837.1
34.3%
Volume of S.V.I.F.T. Money Transfers
(USD. thousand)
5836.3
Contraction of documentary credit facilities extended to
Belvnesheconombank by foreign banks had a downward
effect on L/C business and led to a reduction in overseas L/C
receipts of domestic exporters. As a result we opened a mere
452 import L/C's worth USD 46 million and processed 173
export L/C's worth USD 81 million in 2000 which is an evident decrease compared with our 1999 performance.
Meanwhile, the overall volume of transfer payments over the
year totalled the equivalent of USD 2.47 billion.
6167
The Bank provides counselling on all types of international settlements, foreign exchange controls and regulations.
80000
February
We offer our customers virtually all products and services accepted in the world banking community and consistent
with international standards ranging from domestic and international transfers of funds, collection operations, documentary L/C's to effecting guarantee operations and performing
reimbursement instructions.
100000
January
Servicing export-import customer operations and financing
foreign
trade
remained
to
be
among
Belvnesheconombank's top priorities in 2000. Due to its high
profile in this segment of the market the Bank retained the
position of a leading financial service provider with a primary
focus on export finance.
1999
2000
Amount transferred
Number of transfers
81.2
92.5
79.8
107.9
78.0
129.5
155.3
174.5
Volume of documentary operations
Guided by our favourable image and solid reputation,
correspondent banks extensively handled their international
settlement business through Belvnesheconombank. Banks
from the NIS and other countries made use of our services in
opening, advising and confirming L/C's and guarantees, performing international payments, and encashing cheques and
promissory notes.
1997
1998
1999
46.1
37.9
67.3
41.6
65.6
59.5
58.0
Notwithstanding the objective problems faced by the
Bank in the year under review, we continued to provide efficient service to our customers in their foreign trade operations
employing both conventional products and instruments and
offering innovative solutions. The volume of trade finance in
the accounting year amounted to USD 40 million.
21.5
The Bank's branch network was well positioned to handle
international customer settlements virtually anywhere in
Belarus.
2000
Factoring
Import L/Cs
Guarantees
Export L/Cs
13
Correspondent Banking
Nostro correspondent accounts
Breakdown by groups of currenci
Belvnesheconombank's impeccable reputation in the
international banking community helps it consistently expand
and enhance business relations with financial institutions
across the world.
USD
76%
In 2000, we maintained correspondent banking relations
with 535 banks from 80 countries. Owing to its performance
in the year under review Belvnesheconombank retained the
status of Belarus' clearing house with regard to hard currency
settlements for Belarusian banks and BYB settlements for
non-resident banks.
EUR
12%
e
Fre
In the accounting year non-resident banks opened 23 and
closed three Vostro correspondent accounts. Over the year,
five Nostro accounts (two accounts in freely convertible currencies and three - in restricted-conversion currencies) were
opened and thirteen accounts (eleven accounts in freely convertible currencies and two - in restricted-conversion currencies) closed. These changes were prompted by the rationalisation of the correspondent banking network and the introduction of the EURO.
er
Oth
As at January 1, 2001 the Bank maintained 272 correspondent accounts including 105 Nostro accounts (70 freely
convertible and 35 restricted-conversion currency accounts),
140 Vostro accounts of non-resident banks (113 accounts in
the national currency, 4 - in restricted-conversion currencies
and 23 - in freely convertible currencies) and 27 multi-currency Vostro accounts of resident banks.
10%
ly
con
ver
tibl
e
2%
curr
en
cies
DEM
EURO settlements were performed through indirect participation in the EBA and EAF clearing systems.
Throughout 2000, we pursued a vigorous policy of
attracting resources of non-resident banks to finance projects
of our customers.
With a transfer to EURO settlements, we effected payments, depending on customer-specific needs, both in the
EURO and legacy currencies of the EMU countries. The
Export and Import Transfers Dynamics
Vostro Accounts Turnover in 2000
(BYB, billion)
5000
40
4500
35
4000
3500
30
3000
25
2500
20
2000
15
1500
1000
10
500
14
Number of Import Transfers
Desember
November
October
September
August
July
June
May
April
March
February
January
Desember
November
October
September
August
July
June
May
April
March
February
January
5
Number of Export Transfers
SECURITIES MARKET OPERATIONS
GOVERNMENT BOND TRADING
In 2000, Belvnesheconombank concentrated its stock
exchange operations on primarily asset-side transactions in
Belarus government bonds. The goal pursued by the Bank
was to secure the utmost bond liquidity and to meet the Bank’s
needs in resources for the implementation of state programmes and provision of loans to the real economy. That
explains a reduction in the government bonds portfolio from
BYB 1026.97 million (comprising BYB 1016.97 million
worth of bonds in the Bank’s portfolio and BYB 9.99 million
worth of bonds traded under REPO sale deals) at year-end
1999 to BYB 1004.34 million at year-end 2000 (comprising
BYB 470.33 million worth of bonds in the Bank’s portfolio
and BYB 534 million worth of bonds sold under REPO
deals). Realised gains from trading in government bonds went
down from BYB 588.9 million in 1999 to BYB 491.6 million
in 2000, or 1.2 times. The income contraction was principally
due to a downward trend in yield rates from 130-150% at end1999 to 80% at end-2000 and an increase in the volume of
REPO sales.
pleted generating short-term borrowings of BYB 9836.2 million.
With the number of deals growing 1.69 times, their volume scored
a 4.72-fold increase against 1999 resulting from a rise in the mean
value of the deals completed and an absolute growth in real trading volumes. Such deals were mainly effected on so-called "taxpay days" allowing to reduce borrowing costs in the interbank
money market. A considerable increase in REPO sale deals in
2000 as compared with 1999 was one of the reasons for a lower
return from government bond trading in the year under review.
Broker service
In the accounting year we effected 198 REPO and 87 saleand-purchase deals on customer instructions totalling BYB
6398.92 and BYB 1123.59 million respectively. Although the
number of deals remained unchanged as compared with the
year earlier, the amount of trading increased 2-fold.
Safe custody services
The Bank’s Safe Custody Unit provided services to customers
with regard to accounting, registering and clearing their securities transactions. Belarus government bonds continued to
account for the bulk of safe custody operations performed by
the Bank. In 2000, a total of 354 million items was handled
through the Bank’s safe custody accounts.
Investment in government bonds was uneven until stabilisation at end-1997 that generated an upward growth in realised
gains in the years leading up to 2000 when it declined against
the year-earlier level.
TRANSACTIONS WITH PROMISSORY
NOTES AND CERTIFICATES OF DEPOSIT
Primary market
Compared with 1999, there was a considerable increase
in the volume of asset and liability-side operations in 2000
involving BYB and foreign currency-denominated promissory notes and certificates of deposit.
While the bonds portfolio decreased as compared with
the year before, the overall amount of purchase transactions at
primary auctions and additional allotment sessions increased
from BYB 1111.8 million in 1999 to BYB 2993.1 million in
2000. Throughout the accounting year the Bank was consistently compliant with the regulations governing primary auction participation and prescribing mandatory quotas of government bond purchases.
Secondary market
Secondary market operations included regular sale-andpurchase and REPO deals. A total of 716 secondary market
deals was completed in 2000 comprising 476 REPO deals
worth BYB 25126.5 million and 240 sale-and-purchase deals
worth BYB 4581 million (in 1999 - a total of 397 deals worth
BYB 8277.32 million).
The government bonds portfolio was extensively used to refinance the Bank by effecting REPO transactions. Whereas in 1999
93 REPO sale deals were transacted generating short-term borrowings of BYB 2081.91 million, 2000 saw 158 REPO deals com-
The amount of funds raised from promissory notes sales
totalled BYB 4217.9 million scoring a 2.2-fold increase over
the previous year. Mean interest rate for BYB-denominated
promissory notes rose over the year from 22% to 54.4% p.a.
while the period of maturity averaged 6.3 days falling 1.9
times.
The amount of borrowed funds generated from selling
BYB-denominated certificates of deposit increased 5.3 times
on the previous year. Mean interest rate rose 1.7 times to
60.3% p.a. while the period of maturity averaged 17 days, 1.2
times down against the year before.
The increase in interest rates in 2000 was prompted by a
general upturn in interest rates in the domestic markets of
Belarus.
The past year was also noteworthy for a tangible increase
in the placement of customer funds in USD and EUROdenominated promissory notes and certificates of deposit.
15
MONEY AND FOREX MARKET
OPERATIONS
MONEY MARKET OPERATIONS
The main goal pursued by Belvnesheconombank in its
money market operations in the year under review was to
manage its liquidity in national and foreign currencies by
attracting and advancing interbank deposits and loans,
deposits of corporate entities, and conducting forex swap
transactions.
Within the state farming support programmes implemented primarily through Belagroprombank as an on-lender,
Belvnesheconombank had three national currency credit lines
launched in 2000 in addition to two opened in 1999 with three
lines remaining in place at the year-end. As at January 1, 2001
the amounts outstanding under the national currency credit
lines totalled BYB 3762.04 million against BYB 916.5 million at year-end 2000. In addition, as at January 1, 2001 we
had in place three foreign currency credit lines for the agroindustrial complex. The year-end amounts outstanding totalled
USD 5 608 600.
As in the preceding years Belvnesheconombank was an
Securities operations income
45.957%
0.461%
0.375%
0.151%
ing financing of the state programmes was BYB 3090.1 million against BYB 1333 million in 1999, that for bank deposits
was BYB 96.7 million; meanwhile interbank borrowings
amounted to BYB 604.9 million against BYB 119 million in
1999, deposits from non-resident banks in correspondent
accounts - BYB 911.6 million and those from domestic banks
including the National Bank of Belarus amounted to BYB
741.1 million.
Income derived from extending interbank loans and
deposits amounted to BYB 2943.1 million against BYB
1146.1 million the year before, while expense incurred from
buying interbank resources in the national currency amounted
to BYB 2631.1 million against BYB 386.9 million in 1999.
Expense incurred from attracting national currency
resources from legal entities amounted to BYB 724.9 million
against BYB 496.9 million the previous year.
In the year under review, Belvnesheconombank was also
active in performing international money market transactions.
Income generated from placing funds in deposit and correspondent accounts with non-resident banks amounted to BYB
1538.8 million equivalent to USD 2 131 100 over the year
against USD 1 779 600 the year before. Meanwhile, income
from advancing deposits and interbank loans to resident banks
amounted to BYB 444.6 million or USD 528 700 (1999 USD 86 200).
FOREX MARKET TRANSACTIONS
Subject to stiff foreign exchange controls, in 2000
Belvnesheconombank concentrated its activities on meeting
its needs in foreign currency resources, generating maximum
profit from over-the-counter market transactions and managing its forex position.
Profit from broker's services at Belarusian
Currency and Stock Exchange (USD. thousand)
53.056%
Dealer transactions with promissory notes
Dealer transactions with government bonds
Broker transactions with promissory notes
Depositary services
16
1998
1471
The day-weighted amount of interbank lendings includ-
360
active participant in interbank lending operations. In the year
under review we completed 323 sale transactions and as many
as 1459 purchase transactions, with 1032 purchase transactions involving non-resident banks.
555
Broker transactions with government bonds
1999
2000
BANKING TECHNOLOGIES
On-going development of its IT infrastructure remains to
be a key element of Belvnesheconombank’s strategy of business advancement. In 2000, our effort was chiefly concentrated on building up our IT potential in order to enhance our
position of one of the most technologically advanced financial
institutions of national magnitude in the country.
Among the milestones of the past year were an upgrading
of AS/400 mainframes and installation of a new version of
Equation software product to make it more flexible with
regard to modifications in the legal and regulatory base.
In addition, advanced high-performing active network
equipment was made operational allowing to achieve a significant increase in the carrying capacity and dependability of
the entire IT system within the Bank.
Much attention was also given to the upgrading of our PC
fleet. 111 PCs were purchased and another 24 upgraded. We
also developed and installed over 100 Cashier fiscally-compliant computer systems at the Bank’s bureaux d’echange and
cash desks.
Another important development of the past year was
designing and consistent implementation of such important
projects as Suspend/Due/Overdue Payments, Deposits, and
Loan Portfolio work stations. We also developed applications
for generating securities-collateralised loan requests and processing collected customer sale receipts and several other
applications. In addition, software programmes for computerising safe custody operations were continuously updated in
response to regulatory changes and user needs. Programmes
for receiving, dispatching and editing messages for the
National Bank Central Depository and the Republican Central
Securities Depository were installed and made operational.
We also developed and provided maintenance of software
applications for generating over 50 types of financial statements, programmes for receiving, checking and consolidating
of over 40 statements and more than 70 programmes for various banking operations such as Cashier System, Payroll,
Financial Statements, and Safe Custody Service workstations
to mention just a few.
As a Principal Member of Europay/MasterCard and
VISA International, Belvnesheconombank runs its own processing centre and a network of ATMs and POSs capable of
handling all products brought to the market by the above
international payments systems. The Bank has also been issu-
ing
its
own
Eurocard/MasterCard
Mass,
Eurocard/MasterCard Business, Cirrus/Maestro, and VISA
Classic and VISA Electron bank cards.
The past year witnessed further progress in expanding the
bank-card service network and issuance through a greater
business involvement of the Bank’s branches and promoting
co-operation with other banking institutions. A new bank-card
software version was installed enabling to incorporate the
branches and other commercial banks into a single database
while the ATM network was upgraded to speed up cash
advance operations. A payroll project was implemented at
Luch watch-making factory in Minsk.
In the year under review the Bank continued to expand its
own E-mail system providing a Client-Bank capability. At
year-end 2000 the system embraced 243 subscribers including
all of the Bank’s branches (28 subscribers), 18 correspondent
banks, 120 corporate customers and 77 subscribers within the
Head Office. The Client-Bank capability allows the subscriber to electronically operate his accounts and receive all
requisite information from the Bank. In the accounting year
we began to upgrade its software component to ensure compliance with the Belarus Electronic Documents Law.
Major objectives to be accomplished by the Bank in 2001
are to ensure an uninterrupted operation of its IT systems and
a more efficient use of its capabilities. In order to achieve
these objectives it is planned:
to make further progress in computerising financial statements and reduce the amount of manually-handled payments;
to maintain and enhance the IT networks by developing
and incorporating administrative, diagnostic systems, enhancing security features, and upgrading the communications
equipment;
to upgrade communication lines and bring down operating costs;
to incorporate the Bank’s branches into a single computer network;
to enlarge the spectrum of banking products by employing the most advanced computer-science innovations;
to maintain and upgrade the PC fleet; and
to maintain and enhance UPS systems.
In line with our plans to build up our bank-card business
17
RETAIL BANKING
The volume of foreign cash and payment instrument collection operations also rose substantially during the year
under review.
Despite generally favourable retail market developments
in 2000, traveller's cheque business somewhat declined which
1.01.00
The 2.5-fold growth in the volume of sales over the year
resulted in a pro rata increase in revenues from the money
transfer business. As a result of a concerted promotional campaign in December 2000, sales and income from these transactions rose by an average of 39%.
18
1.04.00
1.07.00
1.10.00
1.01.01
1487.18
1999
Volume of collection operations
1639.38
10.3%
Volume of collection operations (USD, thousand)
4697
In addition to attracting funds from the public, we consistently expanded our international money transfer business
in association with Western Union. Comparison of our performance in 1999 and 2000 provides a clear evidence of a
continuous dynamic growth of this segment of business operations that has been achieved, as we see it, by expanding the
network of outlets handling Western Union money transfers.
This process in its turn was given a further boost as a result of
implementing
subagent
agreements
between
Belvnesheconombank and a number of domestic banking
institutions including Belbusinessbank, Absolutbank,
Belarusian Bank of Development, Minsk Transit Bank, and
the Bank for Reconversion and Development.
1182208.0 1220.1%
413720.7 362%
89555.4
During the year under review the Bank took further steps
to attract foreign currency deposits from the public. Owing to
a consistent interest policy, a broad variety of incentive
schemes and the provision of security guarantees by the government, foreign currency assets in current and deposit
accounts of private customers increased 1.2 times over the
year to reach USD 22, 025, 300.
902363.4 907.6%
Funds in national currency accumulated in private customer current and deposit accounts increased more than 15fold and reached BYB 1416.15 million at year-end 2000.
1416148.2 1481.3%
Dynamics of Balance Growth in Currient
and Term Deposits in National Currency
(BYB, thousand)
41.2%
As a result of liberalisation of the domestic foreign currency market regulations we were able to step up our retail
business and rapidly restore the volume of sales. Owing to the
levelling-off of exchange rates we managed to increase the
volume of private customer borrowings in national currency
thereby generating positive real incomes from our BYB interest operations.
6632
As a versatile banking institution, Belvnesheconombank
offers its customers a fairly broad range of retail products and
instruments providing them with a comprehensive service
both in national and foreign currencies. In order to meet the
needs of various retail customer segments the Bank strives to
keep abreast of market developments by upgrading its longestablished services and introducing innovative approaches.
The past year also witnessed a dynamic increase in
S.W.I.F.T. international bank transfers for private individuals
as well as researchers in New Independent States involved in
the implementation of ISTC and INTAS projects. Sales of
nonnegotiable cheques, another way of international money
remittance, issued by the Bank of New York and Bankers
Trust Company enjoyed a special popularity in 2000 largely
because of an expansion of various international student
exchange programmes.
2000
Number of collection operations
Dynamics of Balance Growth in Current
and Term Deposits in Foreign Curency
(USD, thousand)
18721.7
22025.3
20897.7
20288.5
19569.9 4.5%
8.4%
11.6%
17.7%
RETAIL AND NON-COMMERCIAL
SERVICES
During 2000, Belvnesheconombank offered its customers
the following services:
Purchase and sale of foreign cash and traveller's cheques
in foreign currency;
Foreign cash conversion;
Acceptance for collection of cheques issued by foreign
banks;
1.01.00
1.04.00
1.07.00
1.10.00
1.01.01
Volume of Western Union Money transfers
(USD, thousand)
Supply of foreign cash to the bank's branches; and
11921.2
31508
225%
228%
Replenishment of correspondent accounts with foreign
banks;
Provision of security transportation and collecting service
for business entities.
3634.8
9700
Foreign cash dealing operations;
Currently Belvnesheconombank has a network of 77
bureaux d'echange and specialised cash desks (with 27 of
them located in Minsk) dealing in 26 foreign currencies.
1999
Amount transferred
2000
Number of transfers
Issuance of Foreign Banks' Cheques
(USD, thousand)
294.7%
128.9%
113.12
The number of businesses making use of the Bank's security transportation service grew 12% over the year (552 business entities). The volume of customer receipts transported by
the Bank's armoured cars amounted to BYB 136 billion, i.e.
3.5 times as much as in 1999. The branches also expanded
their security transportation and collecting service. In addition, there was a considerable increase in the number of customers using our payroll delivery service.
460
Number of cheques
The past year saw a tangible growth in foreign cash trading following changes in foreign exchange controls and a
transition to a single foreign exchange rate with purchases
scoring a 11.2-fold increase against 1999 and sales going up
11.9 times.
Traveller's cheque encashment rose by 55% while conversion operations increased by 18%.
28.66
201
1999
Acceptance of foreign cash for collection;
2000
Amount
19
BANK CARDS
rationalising intra-bank relations with regard to financial and
managerial matters.
As a result of its performance in 2000
Belvnesheconombank has established itself as the country's
leader in terms of international payments system card
turnover accounting for 42% of the domestic market. To date,
the Bank has issued over 10,000 bank cards (12% of the total
number of cards in the country) with 80% of the cards issued
in the national currency under the state programme of promoting card-based cashless payments in Belarus. The share of
the Bank in the aggregate domestic turnover with regard to
this payment instrument amounts to 27% with the operating
income scoring a 27-percent increase in the year under
review.
Over the year the branch network scored a 3.5-fold
increase in balance sheet assets and resources, with loans and
income growing 3.5 times respectively.
The branches continued to promote promising wholesaling banking products including factoring transactions in the
national currency, lease finance, issuance of guarantees and
sureties in favour of customs houses and employment centres.
The branches also offered a wide range of retail products
including international bank cards and Western Union instant
money transfer service.
Over the year the number of cards issued by the Bank has
more than doubled owing to the introduction of new products
- Visa Electron and Cirrus/Maestro cards denominated in
national and foreign currency. Currently twelve companies
participate in the Belvnesheconombank Cirrus/Maestro payroll project.
The Bank runs the largest single cash advance network in
the country. As a result of certifying and installing POSs
equipped with PIN pads in April 2000, we were able to attain
a manifold increase in cash advance operations.
In 2001, the number of national and international cards to
be issued by the Bank is expected to double by tapping the
potential of the Bank's branches. It is also envisaged to further
broaden the range of services and expand the network of merchant locations and acceptance points available to
Belvnesheconombank card holders.
The past year appeared to be profitable for all of the
Belvnesheconombank branches. The aggregate profit of the
branch network reached BYB 842 million, i.e. 3.1 times as
much as in 1999.
The number of current accounts opened with the branches rose from 6463 to 7251 accounts while the balance therein
grew from BYB 5360.1 million to BYB 15886.7 million with
the share in the Bank's loan portfolio rising by 7.3 percentage
points to 42.2%.
As at January 1, 2001 the branches managed 2/3 of all
customer current accounts within the Bank and as much as
41% of funds placed therein. The share of the branch network
in the Bank's consolidated profits amounted to 71%. They
generated 44.9% of the Bank's income.
The best performing among the Bank's branches in terms
of efficiency and profit were branches in in the regional capitals of Gomel, Mogilev, Grodno and Vitebsk, Mozyr branch
Branch Network Branch Network
Income Profit
1998-2000 1998-2000
BRANCH NETWORK
900
20000
750
As at January 1, 2001 Belvnesheconombank had five
branches in regional capitals and eighteen town branches.
While no new branches were added in 2000 preparatory work
was under way to take over Belkoopbank. As a result of the
take-over completed on March 1, 2001 the Bank enlarged its
branch network by a further five units.
15000
600
10000
450
300
5000
150
In the year under review the Bank's branches concentrated their efforts on maintaining their financial stability and
efficiency, expanding the range of products and services and
20
1998
BYB, million
1999
2000
1998
BYB, million
1999
2000
SUBSIDIARIES
develop its business in the following main directions:
As at 1 January 2001, Belvnesheconombank had BYB 1725.1
million invested in the authorised capitals of fourteen legal
entities. Currently the Bank’s subsidiaries include
Belvneshstrakh Closed Joint Stock Insurance Company,
Belinterfinance Closed Joint Stock Company, Interbranch
Institute for Independent Expertise of Investment Projects and
Interecon-N Closed Joint Stock Company.
purchase and sale of beet-root harvesters for enterprises
in the Republic of Belarus;
During 2000, Belvneshstrakh successfully pursued its business in the field of insuring financial and property interests of
legal entities, and foreign trade transactions. Since 1996 the
Company has been invariably among Belarus insurance market leaders. In 2000, the Company reported a profit of BYB
2370.38 million. Its operating expenses amounted to BYB
1842.8 million and balance sheet profit was BYB 225.24 million.
In 2000, the Company recorded an income of BYB 3703 million, and its operating expenses amounted to BYB 3573.36
million, while balance sheet profit was BYB 181.61 million.
Currently Belvneshstrakh offers 24 types of insurance products and is licensed by the National Bank to perform foreign
currency operations. The size and quality of its financial
assets, support on the part of, and co-operation with, insurance companies in Belarus, CIS countries, Baltic countries,
Italy, Germany, France, Great Britain, Poland and the USA
make it possible for the Company to reinsure risks and provide its customers with a world-class insurance service.
In 2000, Interbranch Institute for Independent Expertise of
Investment Projects continued to feature prominently on the
domestic market of counselling services. In the accounting
year, the Institute participated in the appraisal of 34 business
plans of enterprises of various industries and forms of ownership including Belarusian Steel Works, Gomel Casings Plant,
Naftan Oil Refinery, Minsk Aircraft Repair Plant, Gomel
Enterprise for Toxic Waste Disposal, Minsk-1 Airport, enterprises of food and construction industries, etc.
further expansion into the Russian markets by promoting
products of major Belarusian agricultural machinery manufacturing companies Gomselmash, Minsk Tractor Works,
Lidaagroprommash and Bobruiskagromash.
Interecon-N Closed Joint Stock Company pursued the following lines of business:
valuation of properties scheduled for in-kind contribution to the authorised capital of corporate entities;
purchase and sale of its own real estate;
use and rental of its own properties; and
real estate management on a contractual fee-paying
basis.
As a result of its business operations in 2000, Interecon-N
earned an income of BYB 11.76 million. Its operating expenses amounted to BYB 9.63 million and balance sheet profit
was BYB 2.13 million.
As a result of its business operations in 2000, the Institute
recorded an income of BYB 21.72 million. Its operating
expenses amounted to BYB 19.9 million and balance sheet
profit was BYB 1.82 million.
In 2000, Belinterfinance was primarily engaged in the
arrangement and implementation of financing investments
including lease finance instruments, and rendering counselling services to domestic companies to help them promote
their foreign trade business.
In 2001 and longer-term context, the Company is planning to
21
Personnel Education Profile
HUMAN RESOURCES DEVELOPMENT
ced research degre
advan
e ho
71.6%
lde
r in
clu
e
siv
Un
iv
10
38,
ty 6
re si
Belvnesheconombank has always adhered to the principle that staff expertise and professionalism are the main factors that largely determine the quality of banking services and,
ultimately, the Bank's business advancement.
16.2%
c
Edu
at
ion
109
12.2%
atio
Jun ior S
eco ndary Educ
3
n 14
Personnel Age Profile
From 25 to 29 – 2
12
23.9%
8.4%
55
an
do
ve r
–
19.8%
75
In the accounting year the Training Centre ran in-house courses in English, German and French. Over the year 60 staff
completed a foreign language proficiency course.
From 40 to 49 – 176
2126
Growth of Personel Number
(as at 31 December 2000)
1993
Head office
1995
1997
Branches
1999
1236
890
1154
827
1051
726
899
571
82
231
315
1470
Over 2000, 145 (7.3%) people joined the Bank and the total
number of employees at year-end 2000 was 2126 people with
890 employed by the Head Office and 1236 - by the branches.
1777
1981
In 2000, 105 staff members attended universities and colleges
with 21 of them pursing a second university education. 13
staff completed their course of studies in the year under
review.
22
39–
184
Fro
m
to
50
32
to
20.7%
31 – 50
From 16 to
24 –
193
0 to
m3
Fro
5.6%
21.6%
From
In 2000, the Training Centre ran 15 workshops for the Bank's
branch officers with a total attendance of 375 people.
Considerable attention was paid to individual training of
branch staff members promoted to managerial positions. In
the year under review 14 officers upgraded their skills by way
of a hands-on training at relevant units within the Bank's Head
Office. 143 staff members attended skills upgrading programmes and workshops outside the Bank with six of them
taking part in extended specialist programmes abroad.
d a ry
Professional skills upgrading embraced two main forms
of training:
- in-house courses, seminars and workshops run by the
Bank's
Training Centre; and
- training programmes, conferences and workshops held
outside
the Bank.
n
Se co
This principle constituted the core of our staff management policy in 2000 reflecting the Bank's strategic goals of
business development and on-going managerial improvements. Hence, the main emphasis was laid on raising professional skills, improving foreign language proficiency and, last
but not least and providing of opportunities for continuing
education.
2000
Across the Bank
COMMUNITY SUPPORT AND
SPONSORSHIP
In 2000 as before, Belvnesheconombank continued to
sponsored various charity programmes and cultural events.
We provided assistance to educational establishments including universities, colleges and secondary schools in the metropolitan area by purchasing textbooks, computers and furniture. Recipients of such aid included, among others,
Belarusian State University, Belarusian State Economic
University, Minsk College of Finance and Economy, and
Specialised Boarding School No. 10 in Minsk.
The Bank made financial donations to charity funds, voluntary and specialist organisations and sponsored various
events held by the Belarusian Children’s Fund, the Society for
the Environmental Protection, the Red Cross Society, district
organisations of war-disabled persons in Minsk and the
Belarusian Artists’ Union.
In
line
with
its
long-standing
tradition
Belvnesheconombank actively participated in the spiritual
rebirth of the nation extending considerable funds to the
Belarusian Exarchate, All Saints’ Church, the Church of the
Transfiguration of our Lord, and the Church of Saint Simon
and Helena.
The Bank accorded special importance to providing aid
to health-care institutions including the Republican Hospital
for War Veterans named after P. Masherov, Maternity Hospital
No.2 in Minsk and the Institute of Pulmonary Diseases and
Tuberculosis.
The Bank’s community support and sponsorship activities
were not only confined to Minsk environs but also extended
to the areas of operation of its branches.
Dedicated
to
promoting
public
good,
Belvnesheconombank is committed to carrying on the tradition of serving humanitarian causes and objects.
23