Yermakova Heads Belgazprombank Ruined by the Authorities

She headed the so-called temporary administration of the bank.

Belgazprombank Board of Directors approved Nadzezhda Yermakova as chairman of the bank's board, according to the bank's website.

January 15, Belgazprombank Board of Directors also made amendments to the staff positions of the Board members and introduced the position of the first deputy chairman of the Board into Belgazprombank staff schedule.

Iryna Potapova was appointed to the position of the first deputy chairman of the board.

Iryna Antonava, Kanstantyn Kiryanau and Uladzimir Karatkevich were appointed to the positions of Deputy Chairmen of the Management Board.

Yermakova was in charge of Belgazprombank temporary administration, introduced by the National Bank, from June 15 to December 10, 2020.

On 11 December 2020, Iryna Patapava, deputy chairman of the bank's board, became acting chairman. The new board was formed from the current top managers of Belgazprombank. In December, a source close to the bank management said that Yermakova, the former head of the National Bank, was not a candidate for the bank manager, largely because "her work would be associated with the extension of external management".

Nadzezhda Yermakova will most likely have to leave the position of chairman of the BCB Bank due to the new appointment.

What is the situation at the bank now?

As tut.by writes, after the search and detention of top managers of the bank, the number of clients' funds decreased significantly. As of October 1, they amounted to 1 billion 973 million rubles. By comparison, as of April 1, it totalled 3 billion and 292 million rubles.

As of 1 October, the profit of the bank was 44.6 million roubles. It is approximately 486 thousand rubles more than during the same period last year. The situation in the foreign exchange market and the net income from foreign currency transactions contributed to it. However, the net income from the securities operations significantly decreased.

As of November 1, the financial statements of Belgazprombank show the bank's poor operation. Thus, the ratio of net stable funding is 100.9% of the normative set value. That is, it meets the lower threshold. Meanwhile, the minimum value of the net stable funding ratio in October was 99% of the normative value and the maximum - 101.4%. For comparison, Priorbank reached 142.8% and 148.3% (minimum and maximum values), respectively, while Belarusbank - 107.7% and 111.2% (November 1 - 110.5%).

By the way, last January-September, the bank cut its expenses on donations and sponsorship almost four-fold compared with the same period last year.

What happened to Belgazprombank

On June 11, the headquarters of Belgazprombank, PrivatLeasing, Campari, and Kentavr companies were searched. The next day, the head of the State Control Committee said that the Department of Financial Investigations had initiated two criminal cases under Article 235 of the Criminal Code (Legalization of Criminal Funds on a Large Scale) and Article 243 of the Criminal Code (Tax Evasion on Especially Large Scale).

June 15, Belgazprombank introduced a temporary administration by a decision of the National Bank. The powers of the Board of OJSC Belgazprombank were suspended for the period of temporary administration in the bank. Most of the members of the bank's board were behind bars.

Russian shareholders of Belgazprombank - Gazprombank and Gazprom, which controls Belgazprombank - issued a joint statement accusing the National Bank of Belarus of "illegal actions for appointing Acting Chairman of the Board and Acting Deputy Chairman of the Board" in Belgazprombank. "These actions grossly violate the laws of the Republic of Belarus and the Treaty on the Eurasian Economic Union," reads the statement.

Ex-chairman of Belgazprombank and presidential candidate Viktar Babaryka compared the state intervention in the bank with the raider seizure.

Gazprom left a little over $1 million in Belgazprombank after the visit of law enforcers. The National Bank of Belarus had to support Belgazprombank by allocating a secured loan.