Macro Analysis /

Belarus: Fitch affirms ratings of three state-owned banks, outlook negative

    19 May 2021
    • Ratings supported by likely state support in case of need, outlook reflects sovereign outlook
    • Banks face risks from high share of FX deposits, non-deposit liabilities, and limited liquid FX assets
    • Fitch also sees asset quality pressures for two banks, rating downgrades likely if financial assistance is not provided