Bank "Svyaznoy": default or not? Problems of banks in Russia

ZAO Svyaznoy Bank is a credit institution of federal scale. He has the licenses of the Central Bank, the Federal Financial Markets Service (FFMS), the professional participant of the securities market, as well as the issue of plastic cards Visa, Mastercard. For a long time the organization functioned well. But in 2014 Svyaznoy Bank announced a default. What problems faced the financial institution, and how real the threat really is, read more in this article.

History

Svyaznoy Bank was established on the basis of AK Promtorgbank. The latter was organized back in 1992 and for a long time was among the reliable institutions that serve industrial enterprises. In 2010, the Svyaznoy Group and the abovementioned credit institution established a universal bank within the framework of the strategic partnership. Since the beginning of operation (October 2010), Svyaznoy Bank has gradually developed a card business and expanded its customer base. The main shareholder of the institution is the holding company Trellas.

Svyaznoy Bank: Problems

On November 10, 2014, one of the companies of the Onexim Group sent a notice of default to Nogotkov (then the chairman of the board and the holder of the holding company). The pledge for the loan was a stake in Trellas Enterprises Ltd. It managed all the assets of the Svyaznoy Group of Companies. Two days later, a notice appeared that 90% of the shares had gone under the control of Onexim and NPF Blagosostoyanie. At the same time, the transaction price was symbolic - 1 ruble for a security. Bank Svyaznoy failed to prevent a default. It is worth noting that the company's assets include not only a credit institution, but also the same-name cell retailer, an online store, SVOY.RU portal, a network of Pandora salons. Although jewelry stores in the transaction did not enter.

What are the problems of Svyaznoy Bank?

The default took place because of overdue accounts payable. The company could not cope with the crisis of 2014.

In the fall of 2013, the Onexim and Svyaznoy groups discussed the possibility of creating a financial holding company from a cellular retailer, a bank, an insurance company and a Renaissance Credit bank. Then Nogotkov received a loan of $ 100 million with a maturity date until 01.11.2014. Then this amount grew by another 20%. It was she who could not pay the bank "Svyaznoy". The default, according to Nogotkov, was formed because of the plight of the company, the difficult economic situation in the country and beyond.

Due to the decisions of the antimonopoly service, the competition in the mobile operators' market has decreased. After the reform of the reforms, Svyaznoy lost a profit of 1.6 billion rubles. From the sale of pension funds. An exit from the situation could be the purchase of the transfer of ownership of the company to the MTS. But this deal, scheduled for September 2014, broke down, as the main shareholder - the owner of the mobile operator - was placed under house arrest.

Unsuccessful business model

Experts believe that the problems arose because of incorrectly prioritized priorities. Having unleashed a price war with Euroset, Svyaznoy fell into the same trap as its competitor in 2008. Too much occupied, focused only on revenue, not on net profit. But the market situation changed, the crisis dragged on, and the company started serious problems.

Developments

Previously, the creditors of the company were Sberbank, Promsvyazbank and Globex. All of them were pledged Trellas shares - the main shareholder of ZAO Svyaznoy Bank. The default, formed due to default, now gives the right to all creditors to take back the pledges. They had already benefited from the NPF "Blagosostoyanie" when they received a 15% stake in Trellas.

In mid-March, Promsvyazbank received permission from the FAS to acquire a 51% stake in Svyaznoy NV. As of November 2014, the company's debt to the credit institution was 6 billion rubles. But at the time there was a statement that "Promsvyazbank" is not going to buy out the company.

Closing of the bank "Svyaznoy"

The fuss around the credit institution only hinders the restoration of the financial condition. After the appearance of the news about the default, only for the first two days the depositors took from their accounts slightly more than 8 billion rubles. Then rumors spread that the "Connected" (bank) of the problem is trying to solve by means of sanitation. However, later this information was denied in the press release. According to the representatives of the bank, the loan portfolio, the size of its own funds (10.7% of the required 10% of the required securities) did not change much, the instant liquidity indicator is 4 times higher than the minimum value (15%). The bank continues to operate in the normal mode according to the old business model.

In December 2014, the institution received 11 million euros of a subordinated loan from "Finprombank" and the group "Alliance". According to preliminary estimates, this amount was supposed to ensure the minimum value of the capital adequacy ratio (H1) for several months. But at the end of February, the H1 fell to 9.81%. Then the management of the credit organization appealed to the shareholders with a capitalization plan worth 5 billion rubles. Without this money, during the whole of 2015, ZAO Svyaznoy Bank will experience problems. Withdrawing cash from a deposit and processing a loan can be problematic for customers. The plan also included a schedule of payments for the whole year. The largest amount (1.1 billion rubles.) Was required already in March, and in the following months - 300 million. But due to the constant change in the list of shareholders, negotiations on capitalization have not begun.

The bank is suing the former owner

In June 2015, Svyaznoy Bank appealed to the court. The credit organization intends to recover 120 million rubles from Nogotkov, which were provided for their own needs. The maturity of the debt came a few months ago. But the bank's requirements were not met.

Conclusion

The closure of Svyaznoy is one of the most popular topics for discussion. After information about the default of the company of the same name, numerous lawsuits around the credit organization, an unfavorable information background emerged. Because of the panic created, depositors began to collect their deposits in large quantities. For stable operation, the bank needs additional capitalization. But due to constant changes in the list of shareholders, negotiations on this issue have not yet begun. Without these funds, the bank may begin to have problems with the implementation of the capital adequacy ratio.