(BelTA) – Chairperson of the Board of the National Bank of Belarus Nadezhda Yermakova has told reporters on 19 June that in her view the government should retain control over major state-run banks in Belarus, BelTA has learnt.

“It is a normal situation when some banks belong to the state,” Nadezhda Yermakova said. She mentioned Belarusbank as an example and noted that today it is a very lucrative asset that costs a lot. “Banks can be viewed as some form of gold and foreign currency reserves. Why should we sell a hen that lays golden eggs,” she said.

Belarusbank has recently unveiled an agreement with the London Stock Exchange to resume the placement of securities of the Belarusian bank. Back in 2007 Belarusbank carried out a presentation there, started preparations for an IPO and the placement of bonds.

“IPO is not just about borrowing money, it is about going public. Both the bank and the country will benefit from that,” Nadezhda Yermakova said. In her words, this will allow, among other things, to cheapen external borrowing. According to her, Belarusbank might do the initial public offering in 2014 if everything goes as planned.