Belinvestbank

Belinvestbank OJSC is one of the largest systemically forming banks in the Republic of Belarus. It has an extensive regional network and is one of the largest issuers of bank payment cards in the country.

• It was founded in 2001 after the merger of Belbusinessbank and Belorussian Development Bank.
• In 2005, received the status of an investment bank. He is the authorized bank for servicing the state programs of the Republic of Belarus.
• Cooperation between Belinvestbank OJSC and RNKO Payment Center began in 2013.

Assets

Largest banks in Belarus in terms of assets as of August 2020

History

2021: Closure of correspondent accounts in Europe due to sanctions

The Belarusian banking system felt the heavy toll of European and US sanctions imposed in the summer in response to the repression and forced landing of the Ryanair flight. European banks began to massively close correspondent accounts in dollars and euros for Belarusian "states," without which it is impossible to conduct operations in two key world currencies.

In September 2021, the accounts of Belarusbank, Belinvestbank and Belagroprombank were closed by Deutsche Bank, a key correspondent bank for the state credit organizations of the republic,  Nasha Niva reported.

Belagroprombank - one of three banks that fell under EU sanctions - lost correspondent relations not only with Deutsche, but also with all European colleagues, including German Commerzbank, DZ Bank, Italian Unione di Banche Italiei and Polish PKO Bank.

Even Russian "guests" refused foreign currency transactions against Belagroprombank.

A similar situation has developed in Belarusbank and Belinvestbank, which are also on the EU sanctions list.

The two thin strings on which the public banking sector rests and which can break at any time are VTB's European subsidiary (conducting operations for Belarusbank) and Transcapitalbank, which holds euro accounts for Belagroprombank.