Increase in Belarusian banks' external obligations slows to 4.4% in 2011 from 60% in previous year
MINSK. Jan 13 (Interfax) - Obligations on the part of Belarusian banks for non-residents came to $5.986 billion on January 1, 2012, up 4.4% for 2011, the National Bank of Belarus said in its statistical report.
Debt on the part of Belarusian banks to non-residents decreased by 5% in December after going down 5.1% in November.
Funds raised by non-residents at Belarusian banks have been declining since April 2011 when they reached their peak for 2011 at 6.73 billion on April 1 (up 18.7% for January-March 2011, including 9.5% growth in March).
The forex and financial crisis has therefore caused a sharp decrease of external estimates on the credibility of Belarusian banks. The amount of funds raised from non-residents went down by $744 million in April-December, or by 11%.
Total funds raised from non-residents by Belarusian banks increased by over 60% in 2010, or $2.2 billion, to $5.7 billion at the start of last year.