Start investing!
A short course for beginner investors
- Investing from scratch, in plain language
- For those who are just starting out
- E-book on Litres, in Russian
We were the first in Belarus to publish reliability scores for bond issuers
Our own credit analysis models, based on S&P methodology. We have been publishing open scores for Belarusian bond issuers since 2019 — the models, data and calculations are available to everyone.
Non-financial sector
Country and industry risk, customer and supplier concentration, debt load, debt coverage by profit, liquidity and currency risk. Up to 50 points.
Leasing companies
Diversification of leased assets, equity funding, cash gap, overdue payments and payment currency. Up to 45 points.
Base model
An automatic score from financial statements: debt, cash flows and liquidity compared with other companies. 249 companies scored.
Independent reliability scores for Belarusian bond issuers and banks
Since 2014 we have been analysing the financial statements of Belarusian companies, assigning reliability scores, valuing banks and helping issuers build transparent communication with investors.
Score a company yourself
Enter five balance-sheet lines prepared under Belarusian accounting standards and get an express reliability score from 0 to 10 based on our model. The score is relative: the company's ratios are compared with the 249 companies in our database.
The express model uses 2 of the 8 indicators of the base model: debt level and current ratio. The full score also takes cash flows and other liquidity ratios into account. The calculation runs in your browser; no data is sent anywhere. This is not investment advice.
Banks of Belarus
Estimated value of all 24 banks in the country and a reliability ranking based on compliance with prudential ratios. Banks are split into three groups: state-owned, those with a strong foreign owner, and other private banks — in our model a bank cannot rank above a group that would receive support earlier.
| # | Bank | USD m |
|---|
| # | Bank | USD m |
|---|
| # | Bank | Points for prudential ratios |
|---|
Rank is determined first by group, then by points within the group.
| Bank | Debt to the National Bank, BYN m |
|---|
Source: the EKANOMIKA channel. Support went to all state-owned banks and several large banks with strong foreign owners; private banks in the third group received none. This is consistent with the assumption in our model.
Publications and market research
The project archive: reviews of issuers, banks, regulation and the debt market. Translated from Russian; linked PDF documents are in Russian.
Contact us
Want a reliability score or an investor presentation for your company, found an issuer missing from our database, or have feedback on the site — get in touch.