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To participate in the rehabilitation of the Baltic bank found another bidder – is Alfa-Bank. Earlier today, the interest in the asset’s stated financial group “Life”, which is already involved in the rehabilitation of a number of banks. Central Bank decided to find new owners for the bank, including due to corporate conflict between the current owners. The license of the “Baltic” scared to market: the volume of retail deposits of the bank is almost 60 billion rubles. This is almost half of the fund deposit insurance system.
Central Bank to assess the financial condition of the bank and the Baltic on Wednesday said that he made the decision on his rehabilitation. Deposit Insurance Agency (DIA) is designated as the interim administration. On the priority objectives of the Central Bank’s liquidity management of the bank will provide the DIA loan of up to 10 billion rubles. for one year. Agency before September 8, 2014 shall select a new investor for the bank.
Two Sanatorium
To participate in the rehabilitation of the bank has already found two contenders. One of them – Alfa Bank, told RBC source close to the negotiations, and a banker close to the Central Bank. Representative of Alfa Bank confirmed that the bank is considering participation in the rehabilitation of “Baltic”. The decision on the choice of the investor, he said, can be taken within a week. According to a top manager of one of St. Petersburg’s banks, Alfa Bank was interested in participating in rehabilitation with financial support in the amount of 45 billion rubles., But DIA decided that enough to cleanse a smaller amount.
Earlier today, about the same reported financial group “Life”, the company’s decision to participate in the rehabilitation of “Baltic” will depend on the proposed terms, said RBC preboards group Alexander Zhelezniak. “Life” is already involved in the restructuring of a number of banks (the latter – Samara Bank “Solidarity”, sent for refurbishment December 2, 2013).
Baltic Bank was founded in 1989 in St. Petersburg. Now head office registered in Moscow. The main business is concentrated in the Baltic Bank St. Petersburg and Leningrad region. In the 90 years the bank has been one of the leading plastic cards issue and development of ATM network. One of the key customers of the bank at the time were the Railways. However, after the creation of Transkreditbank these links have been lost.
In the first half of the “Baltic” in terms of assets held 69th place among Russian banks (“Interfax-CEA”). On 1 July 2014 the bank’s assets amounted to 83.2 billion rubles., Loan portfolio – 30 billion rubles. Obligations to physical persons – 58 billion rubles. In the spring of the Central Bank has limited the Baltic banks to attract retail deposits. Earlier it was reported that in the II quarter of this year, the credit institution has received from a shareholder of 550 million rubles. as grant aid. This information is reflected in the report of the bank.
The main owners of the Baltic bank – its president Oleg Shigaev (49.9%) and the founder of the St. Petersburg real estate agency, Andrei Isayev (49.9%). Isaev refused to answer questions RBC. He has another business. He is regarded as the principal owner of JSC “Petersburg Real Estate Agency”, which owns a number of status objects in the center of St. Petersburg. In particular, one of the most expensive in the business center “Zinger House”, which is an office of “VKontakte”, and the building of the hotel “Kempinski Hotel Moika 22″ next to Palace Square.
or Remediation Review
«This is a controversial question: was it worth the bank had to sanitize or revoke its license, – said General Director of” Expert RA “Paul Samiev. – In the “Baltic” big hole – we estimate that at least 15 billion rubles. ” In the case of this bank decision on reorganization dictated, rather, the size of the bank, rather than economic reasons, said Samiev: “In such a large scale bank easier to sanitize, so as not to spook the market.” The volume of retail deposits in the Baltic Bank August 1, is 57.6 billion rubles. Size of the fund deposit insurance system, according to the DIA website, at the same date amounted to 118.3 billion rubles.
The problems of the Baltic bank began in 2009. “After the crisis, the bank and has not recovered. Also on his condition has affected shareholders dispute, which lasts for the last few years “- says Samiev. Owners of “Baltic” long wanted to sell the bank, but they parted views on business valuation, previously told RBC head of one of the banks in St. Petersburg, which he negotiated the purchase.
The asset quality of the bank has deteriorated sharply in 2013. Most of the assets of “Baltic” was the loan portfolio entities, or other feature of the bank had a high concentration of loans to related parties, says Samiev. Estimated “Expert RA”, their share was 2-3 times greater than indicated in official statements. A collateral on the loan portfolio of the bank amounted to only 40-50%. Because of a dispute between the shareholders related parties are worse fulfill their obligations on loans, which made the situation worse. In addition, a large share of the bank’s balance sheet held non-core assets. On it were listed ZPIFy and property totaling more than $ 6 billion rubles (the largest CUIT – “Northern Capital” of 1.5 billion rubles). “The value of these assets has been greatly exaggerated. “Expert RA” a year ago, downgraded the bank to pre-default level “, – says Samiev.
Deputy director “Interfax-CEA” Alex Buzdalin notes that for the first half of the Baltic bank asset size declined by 9%, the volume of deposits decreased by 12%. The expert also notes that the bank’s liabilities were mainly formed by contributions from individuals, while retail loans in total assets are almost nonexistent – basically there loans to companies. “This is a typical structure of assets and liabilities for many banks, which had its license revoked in the last 12 months,” – said the expert; Such a structure leads to an increase of interest rate risk.
Lily Violet, Natalia Starostin Anatoly Temkin
deputy chairman Mikhail Sukhov – RBC owners “Baltic” lost control
The Bank of Russia on the basis of its own information, as well as data obtained during the evaluation of the DIA, a number of problems in the activities of the Baltic bank. A large proportion of the bank’s assets invested in assets that do not generate cash income. These, as well as certain other assets are subject to legal proceedings between the shareholders of a credit institution. Thus, the ability to control the funds invested by the bank depends on the decisions of the judiciary.
This situation leads to a high risk of loss of liquidity, as managers and shareholders do not actually run the bank’s investments in the amount of not less than 30 billion rubles. But the “Baltic” and has assets conservatively estimated worth at least 40 billion rubles, capable of generating cash flow.
In this regard, on the one hand, there are massive financial problems, the other – economic opportunity to attract private investors to solve them with the support of the DIA.
In this way, the Bank of Russia, entering temporary administration DIA, suspended lost control of the bank’s owners and managers, and provided an opportunity to make a selection DIA other owners who are on the the most favorable conditions for the state (the least amount of costs) will be able to restore the bank’s financial position.
August 20, 2014
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