Banks refused to increase their loans to small businesses

By the middle of April 30 commercial banks received 824 billion from a trillion promised by the authorities, said the Central Bank the state Duma (the report of the Central Bank on the expenditure of budget funds banks have). To 516 billion rubles. the state has acquired the preferred shares (without voting rights) of the selected banks, at 309 billion of their subordinated debt.

Banks receive funds from the budget in the form of Federal loan bonds through the Agency on insurance of contributions (ASV), monthly reporting to the Agency about their spending, the report says, the Central Bank to the Duma. The funds are given to credit institutions under the obligation every month for three years to increase by 1% of total lending in areas that the government considers of priority: mortgage lending, lending to selected sectors of the economy, small and medium businesses and Russian regions. On 1 March this year, 28 of the original 30 banks (two banks in 2015-2016 became part of larger banking groups) reported on lending in priority areas, but four banks increasing lending slower than the promised 1% per month, said the Central Bank. One of the participants of the program violates the obligation, the regulator does not specify. In the aggregate the 28 banks that obligation exceeded — the volume of lending to the priority sectors is expanding every month by 1.8%, the report says CB.

Of receipt OFZ banks mainly invested in manufacturing, expanded mortgage lending and lending to transport and communications, the report said.

Most willingly banks lend to enterprises in the field of air transport — the credit portfolio in this direction is growing every month by 10.4%. Among the industrial sectors, banks are the most popular khimprominvest (+3.6%), and manufacture of food products and tobacco (+2.2 percent). Mortgage lending by state-supported banks is growing every month by 2.3%.

Zero percent

At the same time, to lend to small and medium business banks do not want even at the expense of budgetary funds. This is the only high-priority areas of the economy where the government capitalized the banks showed zero growth of lending. The reason — the risks are too great, explains in his report of the Central Bank. On March 1, 2016 the share of overdue payables of enterprises of small and medium businesses accounted for nearly 15% (14.8 per cent), says the regulator.

Informed about “meaninglessness” of crediting of small and medium enterprises in the current circumstances, said the head of VTB Bank (one of the recipients of budget funds according to the channel ASV) Andrey Kostin: “If today’s small and medium business is not in demand in the country, there is no field of activity for them, then what is their credit? Will be bad debts. There is consumption, there is a demand, there will be money, no demand — why cheap money to flood the economy?” — said Kostin at the forum “VTB Capital” in October 2015. The statement caused a great resonance.

Then Costin said the head of Sberbank (not included in the program of recapitalization through DIA) Herman Gref. “If we do not Finance small business and do not engage them, the question arises, who will do it?” — said Gref in October. “I do not believe in any national Champions, large companies, monopolies and so on. I believe that we will be able to boost the economy through private initiatives, so helping the little guys, like those who work”, — he said.

From the report of the Central Bank, it follows that large banks — the recipients of budget funds rather share the position Kostina. However, banks from the list of recipients of ASV responding to the request , said that increased lending to small and medium businesses — as opposed to the overall zero dynamics. “Absolut Bank increased its lending with a focus on medium-sized businesses in this period”, — said the press service of the Bank. RNCB in the specified period (from date of receipt of the budget), according to his press service, increased the clients portfolio by medium and small businesses more than 16%. “The Russian capital” from 1 November 2015 to 1 April 2016 increased the volume of loans to small and medium-sized business by 35.8%, according to his representative. The Alfa-Bank, portfolio growth for loans to small and medium-sized businesses amounted to about 9% for the first quarter of 2016, says the Bank press service. The representative of “Russian standard” reported that the Bank is not engaged in lending to small and medium-sized businesses.

VTB, despite the October statement Kostina, from 1 August 2015 to 1 April 2016 to increase the volume of lending to small and medium businesses is 14.7%, reported the Bank press service.

The decision on additional capitalization of Russian banks separate was taken by the authorities in December 2014. Without regard to this measure is worth up to 1 trillion rubles of the Federal budget at that time was surplus. Banks have started to get money only in the second half of 2015, said at a meeting of the state Duma Committee on budget on Monday, may 16, the Chairman of the accounts chamber Tatyana Golikova. According to her, the whole trillion banks in the end will not get: some of the funds directed to other purposes. The purpose of capitalization of banks was to stimulate the Russian economy, but from the data at the disposal of the chamber, it follows that this goal is not achieved — mainly banks spend budget funds for the replenishment of working capital and refinancing of previously given loans, said Golikova.