Sergey Kostyuchenko, “Priorbank” Chairman

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Sergey Kostyuchenko, “Priorbank” Chairman

This middle-aged robust man is rightfully regarded as a leader of Belarus banking sector.

He directs Priorbank which has become one of the country’s largest banks and one of the most reliable and reputable institutions for Belarusian households and corporates to keep their savings. This is largely down to Sergey Kostyuchenko’s ambition and potential. He once managed to convince western bankers - including the Austrian Raiffeisen Bank Group, a current stakeholder of Priorbank - that he is a worthy and reliable business partner.

Today Priorbank has operations in all regions of Belarus. It works both with individuals and companies. Priorbank has remained unaffected by the ongoing reshuffling within the Belarusian banking sector, which has been underway during the past 17 years. Sergey Kostyuchenko acts as a guarantor of stability for his partners and depositors.

But this image comes at some cost. The media argue that it is Raiffeisen that lobbies the interests of the Belarusian authorities in the European Union, specifically in Austria. The bank therefore incurs some reputational costs, which nevertheless are minor when compared to the profits drawn by the bank.

Listed in the Top 200 influential persons in Belarus, Reiffeisen will remain in Belarus, Economic forecasts by Kostiuchenko, Kostiuchenko propozed to legalize millioners in Belarus

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Author: Handbook on Belarus for International journalists