Review of the most reliable banks in Belarus

The 21^st century can be called the capitalistic and information age. As you know, it is not enough to earn a capital, you also need to be able to invest it correctly, and also be able to save. In this situation, banks come to the aid of people who offer various deposits at interest. That is, you have the opportunity not only to save your money, but also to increase a little. But when investing your money in a bank, be careful about the conditions of the deposit, and it is also worth considering a number of other factors, which will be discussed later.

Banking system of Belarus

National Bank of the Republic of Belarus

The National Bank of the Republic of Belarus is the central bank and state body of the Republic of Belarus.

The National Bank operates in accordance with the Constitution of the Republic of Belarus, the Banking Code of the Republic of Belarus, laws of the Republic of Belarus, regulatory legal acts of the President of the Republic of Belarus, the Charter of the National Bank of the Republic of Belarus and is independent in its activities.

The National Bank reports to the President of the Republic of Belarus.

The main goales of the National Bank:

1) Maintaining price stability;

2) Ensuring the stability of the banking system of the Republic of Belarus;

3) Ensuring the effective, reliable and safe functioning of the payment system;

The National Bank consists of a central office and structural units.

The functions of the National Bank:

1) develops the Main directions of the monetary policy of the Republic of Belarus and, together with the Government of the Republic of Belarus, ensures the implementation of a unified monetary policy of the Republic of Belarus in the manner established by legislative acts of the Republic of Belarus;

2) carries out the operations necessary to fulfill the basic goals of the National Bank;

3) is the lender of last resort for banks, refinancing them;

4) issues money;

5) issues securities of the National Bank, determine the procedure for the issue, circulation and redemption of securities of the National Bank;

6) forms a gold reserve and a fund of precious stones of the State Fund of Precious Metals and Precious Stones of the Republic of Belarus;

7) create gold and currency reserves in agreement with the President of the Republic of Belarus and manage them within their competence;

8) carry out currency regulation and currency control in accordance with the legislation of the Republic of Belarus;

9) establishes the procedure for issuing permits and presenting notifications necessary for the purposes of currency regulation, issue permissions necessary for the purposes of currency regulation;

10) regulates credit relations;

11) regulates and organizes monetary circulation;

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Banks and NCFO

The acronym NCFO stands for Non-Bank Credit and Financial Organisations. In the Republic of Belarus there is a certain list of systemically important banks and NCFO. There are two groups of significance:

Group I:

Open Joint-Stock Company Saving Bank Belarusbank;

Open Joint-Stock Company Belagroprombank;

Joint Belarusian-Russian Open Joint-Stock Company Belgazprombank;

Open joint-stock company "BPS-Sberbank";

Priorbank Open Joint-Stock Company;

Belvnesheconombank Open Joint-Stock Company;

Open Joint-Stock Company "Belarusian Bank for Development and Reconstruction" Belinvestbank ".

Group II:

Closed Joint-Stock Company Alfa-Bank;

VTB Bank Closed Joint-Stock Company (Belarus);

Closed Joint-Stock Company Minsk Transit Bank;

Open Joint-Stock Company Bank Dabrabyt;

Open Joint-Stock Company Paritetbank.

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The most reliable banks in Belarus

Belarusbank

JSC ASB Belarusbank is the largest universal system-forming financial and credit institution of the Republic of Belarus.

It offers all types of banking services and products. It occupies a leading position in the domestic banking system in such indicators as the level of equity, assets, loans, deposits.

The bank’s activities are inextricably linked with the economic policy of the country and is aimed at promoting the dynamic development of the most important sectors of the economy and social sphere.

Among the clients are enterprises of industry, construction, agriculture, telecommunications, petrochemicals, whose activities are focused on the modernization and expansion of production, the implementation of import substitution programs, and the development of export potential.

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Belagroprombank

Belagroprombank OJSC:

• 28 years of functioning as an independent financial institution;

• an authorized bank of the Government of the Republic of Belarus for servicing state programs;

• more than 36 thousand customers - business entities and 1.7 million individuals;

• about 300 customer service points throughout the republic;

• one of the largest banks in Belarus, which has implemented a quality management system that meets the international requirements of ISO 9001.

According to the results of the authoritative international publication The Banker, Belagroprombank OJSC took the 787th place in the rating of the 1000 best banks in the world (Top 1000 World Banks). In addition, the Bank confirmed its 18th position in the list of 25 largest banks in Central and Eastern Europe (Top 25: Central and Eastern Europe).

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Belgazprombank

Belgazprombank implementation of the following banking operations:

• raising funds of individuals and legal entities in deposits (deposits);

• placement of attracted funds on its own behalf and at its own expense on the terms of repayment, payment and urgency;

• opening and maintaining bank accounts of individuals and legal entities;

• opening and maintaining accounts in precious metals;

• settlement and cash services for individuals and legal entities, including correspondent banks;

• foreign exchange transactions;

• purchase and sale of precious metals in cases provided for by the legislation of the Republic of Belarus;

• attraction and placement of precious metals in deposits (deposits) and others.

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BPS-Sberbank

More information you can find here.

BelVEB

More information you can find here.

Priorbank

More information you can find here.

MTBank

MTBank CJSC was established on March 14, 1994 and became the first bank in the Republic of Belarus with the participation of foreign capital.

Currently, customer service is conducted in 127 bank branches located throughout the country.

MTBank actively cooperates with the Development Bank of the Republic of Belarus OJSC and international financial institutions, such as the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Netherlands Financial Development Company (FDC), AKA Ausfuhrkredit-Gesellschaft, international financial institution NEFCO (Finland), German Investment Fund IIV Mikrofinanzfonds, etc.

Since 2006, MTBank has been the first bank party to the UN Global Compact in Belarus, a universally recognized UN initiative in the field of corporate social responsibility.

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Belinvestbank

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VTB

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Alfa-Bank

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Technobank

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Fransabank

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Services provided by banks

Each financial institution has its own list of services for both individuals and legal entities. However, in general terms, there are several main groups of banking services:

• deposit operations. They represent a customer contribution for which interest is credited;

• credit operations. These include the issuance of loans to customers and the receipt of income for the bank;

• settlement operations. These include actions to open accounts from which salaries are paid, as well as transfers of various taxes. In addition, other types of services are included in this group.

Banking system services

The modern economy is a peculiar and very complex system. Each part of it has a relationship with other similar components. The banking system occupies a special place in the overall economic structure. Services provided by credit organizations play an important role in the normal functioning of a huge number of commercial companies, industrial enterprises and other subjects of the domestic economy. Thanks to the service provided by participants in the banking system, inflationary processes are regulated. In addition, activities are carried out to control the balance of payments.

Electronic banking

In the past two decades, significant changes have occurred in the global economic system. This significantly affected the banking sector of each country. In Russia over this period of time, electronic banking services have gained great popularity. This allows credit organizations to provide the most efficient service to legal entities. In addition, electronic forms of banking services designed for individuals are being developed. On the basis of innovative technologies, the role of information resources has increased. All this contributes to the fact that customers of credit institutions are able to use electronic banking services in full.

Settlement and cash services

The main activity of banks is settlement and cash services (SCS) of individual entrepreneurs and legal entities. SCS - a portfolio of services for the transfer, storage, registration of cash flows. Settlement and cash services can be carried out individually or comprehensively.

Settlement operations include money transfers, debiting funds, servicing remote access systems. Cash services - receiving and issuing cash, receiving cash payments, exchanging money, exchanging unusable banknotes. Also to settlement and cash services include the provision of extracts, the issuance of certificates, and the provision of reporting documents.

Collateral insurance

Banks provide collateral insurance - a procedure inseparable from the issuance of large loans. Insurance is necessary in case of possible damage or destruction of property. The borrower takes care of the services; the bank's task is to offer the most favorable conditions.

Currency operations

Currency operations - actions related to the transfer of ownership of a currency, the use of foreign monetary units, and the implementation of money transfers. More often, the concept of VO means the import and exchange of foreign currency.

Collection

The transportation of cash, precious metals, securities, important documents is carried out by the collection service. Collection allows you to minimize the risk of loss of transported goods. The collection service must be licensed to conduct banking operations.

Deposits

Bank deposits - monetary values ​​deposited with the bank with a further opportunity to receive interest. Banks are interested in receiving deposits. Deposits are disbanded by banks to provide loans, increase equity, invest in reserves funds, securities, and currency.

Deposits are divided into 2 types: demand deposits and term deposits. Time deposits give a higher percentage, but invested money can be received only after the date specified in the contract. A demand deposit is liable to a lower percentage; a certain part of the investment can be withdrawn at any time.

Mobile apps of banks

Many banks offer mobile applications for working with cards, other accounts and services for free.

Mobile banking through such applications is:

access to card account funds;

the ability to make card payments in stores and on the Internet;

transfers to other accounts and cards;

management of funds of other customer accounts in the same bank;

access to other opportunities: make deposits, apply for bank loans, receive background information, etc;

many applications also work with cards of other banks.

How to get started with credit cards with the help of mobile applications?

Each mobile banking program has its own characteristics, but the general algorithm looks like this:

When connecting a card or other product, find out if the bank has an official application for smartphones.

Check with the bank to see if the card has restrictions on remote access and online payments.

Indicate in the bank the phone number to which mobile banking and other services will be linked.

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