Profit Savings Bank in 2014 fell by almost a quarter, and the reserves in anticipation of possible losses quadrupled. State Bank is preparing for the upcoming recession in the Russian economy, experts believe, and the head of the credit institution German Gref warned that in 2015 the banking system will need to create additional reserves of almost 3 trillion rubles.
The profit of the banking sector continues to fall. On Friday, Sberbank presented its financial results for the year. Its net profit declined by almost 22% – to 377.7 billion rubles. in 2013 to 305.7 billion rubles. at the end of 2014.
The reason for falling profits – increase in operating expenses by almost 10% and dosozdanie reserves in terms of inhibition of the economy and sanctions.
The cost of provisioning in the Savings Bank for 2014 increased almost four times and amounted to 397.7 billion rubles. (In 2013 the size of the reserves amounted to 104.8 billion rubles.). Its assets for the period increased by 33.2% to 21.8 trillion rubles. However, as specify in the credit institution, nearly a third of growth was the result of “positive revaluation of foreign currency component of assets as a result of the weakening of the ruble».
The main PSB analyst Dmitry Monastyrshin indicates that in the context of asset growth and reduce profitability in the State Bank for the year has fallen dramatically capital adequacy ratio N1.0 – at the beginning of the year it dropped to 11.2% ( the minimum acceptable value – 10%).
Thus, on the horizon next year to Sberbank looming need for recapitalization.
In general, it figures correspond to the general situation in the banking market, experts admit. However, next year Sberbank will face greater risks of deterioration of quality of the corporate loan portfolio, as rates for borrowers increased and much of the customers are no longer able to service its debt obligations, says Monastyrshin. Now the key rate of the Central Bank is at 17%, because of which loans to companies issued no less than a 20% per annum.
In the past year, particularly Sberbank actively increasing corporate lending. During the year, its retail loan portfolio increased by 737 billion rubles., Or 22.1%, to 4.1 trillion rubles, half of which are loans made for the purchase of property. In this case, the corporate portfolio credit institution for the year increased by 3.1 trillion rubles., Or 36.3%, to $ 11.7 trillion rubles.
The slope in corporate lending experts explain the decrease in risk appetite and overtraining towards the issue of secured loans (loans to the population for the most part – unsecured). Also increase the lending companies contributed to the EU and US sanctions have forced Russian companies to bring increased demand for credit and refinancing of the domestic market.
However, the biggest problem that manifested itself in the reporting of the State Bank, is not even in the fall profits and outflow of customers. “Sberbank shows weak dynamics of inflows: it means the population in 2014 increased by only 5%, and taking into account the revaluation of foreign currency deposits (rate increased over 2014 by more than 70%) of it is the outflow of clients’ funds,” – Monastyrshin points.
At the end of December on the background of the rapid devaluation of the Russian ruble in the Russian regions to spread rumors that Sberbank plans to impose restrictions on withdrawals from the accounts. His leadership in the person of Deputy Chairman Stanislav Kuznetsov was quick to deny this information, stating that no restrictions Sberbank has no plans to introduce, as well as disable the cards Visa and MasterCard. However, according to Kuznetsov, the regional offices of the State Bank in Smolensk, Tyumen, Ryazan, Chuvashia, Tula, Bryansk, as well as in the North Caucasus have been forced to increase the load of cash from ATMs.
financial performance of the credit institution, as well as a sharp increase in reserves specifically says that the state bank is preparing for the worst. According Monastyrshin, now the volume of provisions in the Savings Bank almost twice the amount of arrears.
However, the leadership of the Savings Bank and do not hide the fact that he accumulates reserves to survive future economic shocks. “It is obvious that the banking crisis will be large-scale,” – said the president of Sberbank, German Gref at the Gaidar Forum, noting that his organization will spend on credit reserves less than other banks. “I believe that we have the best risk management system. We reserve coverage is better than the banking system, many times already. Although it all depends on the price of oil, “- he admitted.
Overall, in 2015, according to Gref, the Russian banking system will require dosozdanie reserves 3 trillion rubles. in addition to the existing ones.
«This year, expect something good hard – agrees with the estimates Gref deputy chairman of the bank” Revival “Lyudmila Goncharova. – The first quarter will show how companies will cope: probably the stagnation in business turnover will decrease. While we do not see significant performance degradation ».
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