The Millennium crash: how the Bank “Millennium” is associated with Vladimir Yakunin

On Friday, the name of the state company Russian Railways has not left the headlines. The investigators searched the news Agency TASS and the office of the PR company “Mikhailov and partners”: as has told a source close to the presidential administration, the searches were related to checks in relation to the Railways (it had worked the head of TASS and the former shareholder of “Mikhailov and partners” Sergei Mikhailov, as well as a number of his colleagues). At the same time the oppositionist Alexei Navalny said that the interior Ministry has begun checking its statement of financial abuse in the Railways. These news went almost unnoticed message of the Central Bank on revocation of the license of small Moscow Bank “Millennium”. This event, however, can also have the most direct relationship to railway monopoly.

What happened

On Friday, the Bank of Russia withdrew the license for banking operations of Millennium Bank, which served part of the financial flows in Russian Railways former head of state monopoly Vladimir Yakunin.

The reason for revocation, as stated in the Central Bank, has been a significant violation of norms of sufficiency of own means (capital) — the figure was less than 2% — and the failure to satisfy the claims of creditors. “With a poor quality of assets of Millennium Bank were inappropriately assessed credit risks taken. Appropriate credit risk assessment on the request of the Supervisory authority revealed the loss of the Bank’s capital. In addition, in connection with loss of liquidity of the credit institution fails to perform the obligations to creditors. The management and owners of the credit institution did not take effective measures on normalization of its activity”, — noted in the Central Bank.

The first reports about problems in the “Millennium” appeared in mid-January, when customers complained about delayed payments. On 1 February, the Bank has been disconnected from system of Bank electronic urgent payments.

What is “the Millennium”

Bank Millennium on 1 January 2016 took 277-th place by assets with 7.8 billion rubles, 411-e in capital — 532,6 million rubles According to the Bank statements for December of 2015, total retail deposits amounted to USD 2.41 billion rubles, the size of balances on accounts of legal entities — 4.4 billion RUB In the reporting of “Millennium” in accordance with IFRS stated that on July 1, 2015, the Bank had five customers or groups of related customers, which collectively had in the Bank 4,006 billion rubles, which accounted for 61.8 percent of the total amount of clients ‘ funds.

As the Millennium is associated with the Railways

In the mid-2000’s “Millennium” began to actively cooperate with the railway monopoly. The sole owner of the Bank until 2008, was the company “Statos”, among the owners of which were the Chairman of the management Board of “Millennium” Mikhail Baidakov and his wife Irina, who held the position of head of the legal Department of the Bank (owned 15% of shares “Statos”), Alexander Miller and his wife owned (and own) 13,58%, investment Director of the Bank and the CEO of the film company “Andrew’s flag” Sergey Berg (6,38%), as well as Yuri Cherepanov, who along with two Vice-presidents of Russian Railways Oleg Tony and Oleg Adkowym was (and is) the co-founder of the society of friendship with Austria.

During the period 2004-2008, the size of the assets “of Millennium” has quadrupled, to 2.54 billion rubles In 2008, 67.4% of his shares in “Statos” purchased “administration Bamtonnelstroy” group company “IC Bridge”, a major contractor of the Russian Railways.

General Director SK “the Bridge” Victor Friesen to the question of why “the administration Bamtonnelstroy” acquired a stake in the “Millennium”, said : “Not my question” and refused to comment further. “The Bank asked to enter structure of the Russian Railways, why, you know, probably only a few people in the leadership. We have always just listed the package, but in the Bank’s life we never took part, were just nominal holder” — said a source close to the leadership of the Bridge.

In 2009, in an interview with the newspaper “Vedomosti” Vladimir Yakunin described the Millennium as follows: “Since this is a small Bank, unlike the big money he’s chasing, and he’s got good ideas are born. For example, the transportation credit reliable partners — his idea, the proposal was developed two years ago” (he was referring to that one of the activities of “Millennium” was lending carriers and other contractors RZD).

In 2011, “Millennium” won the tender for installation of ATMs and payment terminals across 330 stations in Russia. Before the Railways were established only ATMs TransCreditBank, which till 2012 was controlled by Russian Railways (2012 TransCreditBank was sold to VTB group and became part of the Bank VTB24).

Finally, on Deposit in the “Millenium” held available cash of a subsidiary of railroad monopoly. In particular, in November 2013, the Bank won the tender for the Deposit of JSC “Federal passenger company” in the years 2013-2016 in the amount not exceeding 25 bln rubles, offering a rate of 4.5% per annum.

By 2013, when the “administration Bamtonnelstroy” lost 35,1% of the shares of three subsidiaries of the Russian Railways for 300 million rubles, “Millennium” was a much more attractive financial condition than now. According to the rating of “Interfax”, the size of its assets amounted in 2013 of 11.29 billion rubles, capital was equal to 765 million rubles. Subsequently, the capital was increased to RUR 1.1 billion, but total assets have steadily decreased and by the end of 2015 reached 7,836 billion rubles.

At the time of revocation of the license of the principal owners of Millennium were three “daughters” the Russian railway (JSC “BETH”, JSC “GTK” and JSC “TD RZD”), which controlled 35.1% of the Bank, “the administration Bamtonnelstroy” (35,08%), JSC “Russian Railways — stations Development” (12,86%; also the former “daughter” RZD) and “Statos” (16,96%), controlled by Bank’s management headed by the Chairman of the Board bulgakovym.

What does the Holy relics and acrobatic rock-n-roll?

Baidakov in addition to the management of the Bank and also heads Fund of the Saint praised Apostle Andrew the first-called, and at the same time holds the position of Vice President of the Center for national glory and a co-founder of research centre “Dialogue of civilizations”.

After leaving the post of head of Russian Railways, Vladimir Yakunin, head of research centre “Dialogue of civilizations”. Also Yakunin is Chairman of the Board of Trustees of St. Andrew Foundation and national glory Center. Another co-founder of the Foundation of St. Andrew is another shareholder of “Statos,” and therefore the Bank “Millenium” — Alexander Melnik.

The Board of Trustees of the Fund of Andrew the first-called at various times was head of the presidential administration Sergei Ivanov, the former head of the Federal service for drug control (FSKN) Viktor Cherkesov, the Governor of St. Petersburg Georgy Poltavchenko, the former head of Department of presidential Affairs Vladimir Kozhin and Deputy Prime Minister Sergei Prikhodko. One of the goals of the Foundation on the organization’s website is called “bringing in the limits of the ROC, Orthodox shrines”. In particular, the St. Andrew Foundation organizes an annual delivery of Easter Holy fire from Jerusalem. In 2011, the Foundation brought to Russia from Athos the Holy girdle, and in 2013 organized the delivery from the same one of the revered Orthodox shrines — the cross on which was crucified Apostle Andrew.

Thursday, February 5, after a request on the website of the Foundation of St. Andrew the message that Baidakov in December resigned as President of the Foundation. However, in the incorporation of these changes are not recorded.

In addition, for several years, Millennium Bank is a partner of the Russian Cup and world Cup in acrobatic rock-n-roll, stated in the presentation materials of the Bank. It is known that acrobatic rock-n-roll keen on the head of the Fund “Inpractice” Katerina Tikhonova, attributable, according to Reuters and Bloomberg, the daughter of the President of Russia Vladimir Putin.

And here the environment and the Yakunin family?

The Board of Directors of “Millennium” is headed by the Vice-President of RZD, in charge of the construction, Oleg Tony. In the 2000s, a member of the Board of Directors of the Bank was the wife of Vladimir Yakunin, Natalia. Mikhail Baidakov, except that is a shareholder of the Bank, worked as a freelance adviser to the President of the Russian Railways (Yakunin himself admitted in an interview with “Vedomosti”).

What they say about the collapse of “Millennium”

“Millennium” has served part of the financial flows of the Russian Railways, and in return have financed social activities and Hobbies Vladimir Ivanovich (Yakunin. — ). Perhaps the new team of the Russian Railways one of the first acts eliminated the “Millennium” of the financial system of the Russian Railways, explains the collapse of the Bank , a source close to the leadership of RZD.

The representative of the Russian Railways declined to comment. With bulgakovym could not be reached. In the Bank with revoked license was asked to call back on Monday. Mobile phone representative of the Fund of St. Andrew Alexander Galicina didn’t answer. The representative of Vladimir Yakunin, declared that he knew nothing about the problems of the Bank. Answering the question about check of activity of internal Affairs former head of Russian Railways Vladimir Yakunin on the complaint Alexei Navalny, he said: “the actions of the investigative authorities do not comment. But it is noteworthy that this initiative FBK (the Fund of struggle against corruption Alexey Navalny. — ) emerged after Yakunin announced a new social-scientific project, which aims to serve the cause of conflict resolution in the world.” After the resignation of RZD Yakunin really announced the creation in 2016 of a new expert centre for the study of world conflicts, which, according to the retiree, they will “overlap” with the “Dialogue of civilizations”, whose founder was the head of the “Millennium” Mikhail Baidakov.