“SB”: Mr. Tommazini, the assessments of business climate in Belarus are quite contradictory. Still, you find the country attractive. Why?

 Mr. T.: You have good prospects of economic development whatever you choose: integration with Russia, the European Union, or both at the same time. This can be put down to the favourable position on the geographic map. What is most important, the country is purposefully building the market economy. Belarus has a good ratio of the GDP to the foreign debt, acceptable interest on investments, there’s domestic conversion of the Belarusian ruble. It is not the first time I visit your country. And every time I come I see some progress: roads, sports facilities, parks, supermarkets are being built, trade is developing. I know that the period of growth and reforms is frequently accompanied by difficulties, but it is quite obvious that a very strong potential is becoming mature in Belarus.

“SB”: Still, I believe, the difference between living standards here and in Switzerland is striking…

Mr. T.: It’s all very relative. Prosperity is benefits rather than income. Many things are less costly in Belarus. Land, for example. A three-are plot of land costs at least €100,000 in Switzerland, while in Belarus any citizen can have 30 ares or even more almost for free. Therefore, every Belarusian is a prospective millionaire in terms of the real value of benefits he/she has. This is very important. Money can be printed, land cannot.

By the way, Belarusians resemble Swiss – they are just as quiet and friendly. It’s so nice that our peoples love nature, gather for family picnics. I especially liked your tradition to dive into ice-cold water after baths. First, I thought I’d freeze to death, but afterwards felt like a baby. By the way, my wife is Belarusian and I have many friends from Belarus and Ukraine.

“SB”:  You haven’t worked a year in Belarus. What have these months been for the bank? Have you earned profit, grown the capital? What operations have been most successful? What difficulties have you been faced with?

Mr. T.: Those, who seek easy money, earn nothing. Or even worse – become losers. We give priority to stability over profitability. It is very important that the work of the bank’s team should be organized in such a way that every employee loved his/her job, customers and colleagues. A person’s potential can open up only in friendly atmosphere. We always think about the good we can do to our customers. The essence of market economy and the division of labour is in helping each other. The more you give people, the more you earn.

It’s a bit premature to speak about any great success. Besides the head office, we now have Minsk-based cash-processing centre No. 1 and Lugano branch, offices in Brest, Bobruisk, Grodno, Vitebsk, Gomel. One has to work much to achieve something.

“SB”:  Does your bank have many customers? Who are they? What principles are you guided by when building relations with them?  How do you attract new business partners?

Mr. T.:  We are doing our best to be a reliable, stable and predictable partner for our customers. Every would-be customer can be confident that we value and respect him/her and offer quality banking services, good tariffs and effect payments fast. And, of course, we guarantee the safety of funds. All in all, we want every customer to enjoy co-operation with us.

Today we are poised to offer a system, when a first-class western bank guarantees the safety of the customer’s funds deposited with BelSwissBank. At the same time we offer more acceptable tariffs. Moreover, we have reached an agreement with western leasing companies and insurance funds to jointly lease out equipment to Belarusian companies. However, a two- or three-year international audit is required before the programme can be launched.

“SB”:  What does your customer need to get a loan? What are the terms? Do you have schemes, which guarantee the return of credits?

Mr. T.:  The order of crediting is strictly regulated by the National Bank. The requirements set forth in the NBB instructions are tough, but fair. I used to work for Swiss UBS AG and Dutch ABN AMRO and can judge it. The decision to issue a loan is taken only if it is more profitable for the borrower to pay it off than vice versa. The risk can be minimized by strictly observing the principle and the NBB instructions. For example, 22 out of the 25 organisations that applied for a loan did not meet the requirement. We had to turn them down. A tough credit policy is vital for the reputation of a reliable and stable bank. If our customers know it, they will trust us more as the confidence in the safety of deposits with BelSwissBank will grow.

“SB”: What are your bank partners? Or you have only rivals?

 Mr. T.:  We don’t look at other bank as at our rivals. We consider them as partners that can teach us something. Every bank has an interesting and reasonable speciality. We are grateful for co-operation to Belvneshekonombank, Belarusbank, Priorbank, Minsk Transit Bank, Gazprombank.  It is widely known that banks in any country are strong in a system. It’s good that Belarus has a stable and at the same time mobile banking system. The operation of banks is regulated by objective international norms and principles. 

“SB”: What is your assessment of the development of banking in Belarus?

 Mr. T.: It, obviously, depends on the general economic development. As I said previously, you have good prospects. Our presence here is evidence for my words.

In conclusion I’d like to say that you’re right to borrow the western system of market economy, which ensures a decent standard of living. At the same time, you preserve the greatest values – your unique spirit, culture and traditions. The West has let market relations into the cultural sphere. As a result, the latter does not enhance the spiritual development of people, even worsens it. Culture should be guided by a set of moral and spiritual principles. The country that follows them will stay great and wise.