Belarus: Bank Moscow-Minsk rebranded to Bank Dabrabyt

Thursday 28 February 2019

Belarus: Bank Moscow-Minsk rebranded to Bank Dabrabyt

Starting from January 28, 2019 respective state regulative authorities registered changes in the Bank’s articles of association.

Rebranding is a part of Bank’s privatization program aiming to broaden its client base and target audience.

Bank Dabrabyt is a state-owned bank. Its shareholders are the National Bank of Belarus (99.75%) and Paritetbank (0.25%). Bank Dabrabyt, as the legal successor of Bank Moscow-Minsk, is fully liable for all obligations under existing contractual agreements.

Bank’s form of incorporation, ownership structure, tax ID, legal and post address, bank references (except for the legal name) as well as contact details will remain unchanged. The bank will continue to provide a full range of financial services.

According to the bank’s Press Service, rebranding should modernize the Bank’s image brining it in line with ongoing agenda. The previous brand was an important market player having the significant intragroup business with its previous major shareholder in Russia (Bank of Moscow). However, since 2014, when the shareholder structure of the Bank changed, its business volume and range of services provided have extended significantly. Today the Bank focuses on the local market as a universal bank, and new brand “Bank Dabrabyt” perfectly illustrates this positioning.

New brand is addressed to the national theme. The logo refers to the Belarusian symbolism and combines the signs “wealth” and “energy”, and the word “dabrabyt” means welfare, material wealth and well-being.

Bank Dabrabyt is in the TOP-10 Belarusian banks in terms of assets and is among the most efficient financial institutions in the country, demonstrating a steady positive trend in key financial indicators. In 2018 the Bank received BYN 23.7 mln. profit after tax (70% growth to 2017) showing 20,5% ROE after tax (37% growth).