OREANDA-NEWS. November 21, 2011. The international rating agency Moody's Investors Service confirmed long-term foreign currency deposit rating of BPS-Sberbank at the level of Caa1, reported the press-centre of BPS-Sberbank.

The long-term domestic currency deposit rating was not reviewed and remained B1 in the result of probability of support from the parental bank assessed by the rating agency.

BPS-Sberbank was founded in 1923 and remains one of the oldest and largest banks in the Republic of Belarus.

In 1928 the Bank was re-organized as the Bank for long-term financing of industry and power supply.

After the credit system reform in 1932, there was created the Bank for financing of capital construction, industry, transport and communication of the USSR. In 1930s Belarusian regional branch of this bank expanded its activities, opened branches in Gomel and Mogilyov and financed more than 700 construction projects in 73 regions of the Republic.

In 1941 the Bank suspended its activity due to German occupation. During the difficult after-war period the Bank recovered its activity and provided for fulfillment of the objective on efficient utilization of funds allocated for reconstruction of the national economy.

In 1959 the All-Union bank for capital financing – Stroybank USSR – was created. The Belarusian branch of Stroybank USSR concentrated on financing of construction and reconstruction of industrial enterprises, construction industry objects, transportation, communication, housing construction, social and cultural objects (90% of investments in the Republic) and short-term financing of contracting construction entities.

Within the process of banking system reforms in 1987, the Bank for industry and construction of the USSR was created. The structural division of this bank in Belarus began to provide the full range of banking operations and services related not only to investment but also industrial, manufacturing, purchase and sale activities of enterprises and organizations.

In September 1991, the Commercial Joint-Stock Belpromstroibank was created, and in March 1992 the Meeting of founders decided to open subscription for the Bank’s shares, thus upon its completion the Bank became an open joint-stock company. Following the Statute and the strategy established by the shareholders, the Bank contributed greatly to the objective of reforming of the national economy and financial stabilization of enterprises.

In October 1999 the Bank was renamed into Joint-Stock Company “Belpromstroibank”.

In March 2011 the Bank was renamed into Joint-Stock Company “BPS-Bank”.