Situation in Ukraine no threat to Belarusian banking system

The situation in Ukraine and, in particular, the situation in the Ukrainian financial sector do not threaten the Belarusian banking system. The opinion was voiced by Aslan Tavitov, Associate Director of the Financial Institutions Division at Fitch Ratings, BelTA reports.

The expert remarked that there was no immediate interaction between the Belarusian banking industry and Ukraine and therefore there are no major risks in the short term. Aslan Tavitov also spoke about the overall development of the Belarusian banking system as of late. In H2 2013 the National Bank of the Republic of Belarus started pursuing a very rigorous monetary policy for the sake of reducing the risks associated with an overheated economy. Hence, the Belarusian banking system on the whole is slower now, remarked the expert. Yet the expert said the situation cannot be viewed as negative. “The National Bank does it to prevent overheating, sudden jumps, consequences. The goal is accomplished successfully through a number of rigorous monetary restrictions, including regulatory ones such as reserve limits and other measures,” he said.