Kogan spoke about the reduction of the “huge costs” in the “URALSIB”


Businessman Vladimir Kogan, in the fall of 2015 became a sanator “URALSIB”, in interview to the newspaper “Kommersant” told how reducing costs in the Bank. According to him, it is 90% reduced the machine that “worked personally on a shareholder.” This is a “really huge costs,” said Kogan.

“I think that excesses are not necessary, and can very well do without unnecessary luxury. For example, prior to 2005 our entire budget for the vacation was $1 thousand at one time, We went around with tents all over the Soviet Union”, — said the banker.

To reduce costs, “URALSIB” plans to close about 50 points of sale, said Kogan. “They are losing, and that in their case “is not treated”, — he explained.

The new owner of URALSIB said that he has no plan to cut three quarters of the staff. “When you cut staff, then during the year, its quantitative composition is re-established. One of the American billionaires were trying to reduce headcount, but to fundamentally solve the issue, he failed. Then he just demolished two wings of the building,” said Kogan.

According to him, the plan of financial recovery of “URALSIB” will be ready by early April and then submitted to the Central Bank. The owner of the Bank said that gave the team the task to finalize the development plan of “URALSIB” with the regulator until the summer of 2016. After that, the Bank plans to participate in the new rehabilitation projects, said Kogan. He also said that continues negotiations with the “assistance” about the service of their companies. “Maybe I would have participated together with the “assistance” in the capitalization of the Bank, if they have offered” — he said. That rostec is holding talks with Vladimir Kogan about the latest entry in the Bank’s capital, sources said in January.

According to Kogan, in 2016 the market can leave 8-10% of the banks. “In my opinion, the peak [of the crisis] is passed and the banking industry will be one of the first to start recovering. But will rock more than once or twice, lightly this time the crisis will not happen,” he said.

In the fall of 2015 Vladimir Kogan was selected as sanator Bank “URALSIB”. The businessman received 82% of the shares and loans of 81 billion rubles for sanitation. Nikolai Tsvetkov, who owned a controlling stake URALSIB, became a minority shareholder.