Customers of the Bank Bagaeva Musa took a tenth part of deposits


In may, citizens were taken from Finprombank 1.8 billion rubles, or 10% of all retail deposits. Assets decreased by 20% or RUB 2 billion to RUB 8 billion Outflow of funds occurs from the beginning of the year: 1 January to 1 June the volume of retail deposits in the Bank decreased by 27%, or 5.8 billion rubles, funds of companies — 3 billion RUB (also 27%).

From the point of view of maintaining normal business cycle, the outflow of deposits in excess of 10-20% may be a stressful situation for the Bank, says the head of group Finance ACRES Kirill Lukashuk. However, if it was taken into account in the forecast of liquidity, it is more controlled situation.

In early June, shareholders capitalize the Bank by RUB 5.8 bn. This will provide some support to the Bank, says the analyst of National rating Agency Karina Artemiev. However, shareholders have already capitalized the Bank at 6.5 billion rubles, and most of the funds were directed to the reserves, she points out.

As previously reported by the press service of Finprombank, to the end of the year additional capitalization to 10 billion rubles. “In the end, the Bank will capitalize on more than 20 billion rubles that will allow it to enter the top-50 of Russian banks”, — stated in the official reply of the Bank. Now Finprombank occupies the 97th place in terms of assets (RUB 54.1 billion on June 1).

On 17 June, the day of the publication of monthly reporting of the Russian banks in the Central Bank’s website, Finprombank did not publish the two forms of monthly reports (form form 123 and 135). These statements reflect the calculation of Bank capital and information on compliance with mandatory standards. The disclosure of these reporting forms is recommended for banks, said Kirill Lukashuk of an ACRE. But the vast majority of banks reveal these forms to provide investors and analysts more complete information about your financial situation. Most often, the failure to disclose this information is associated with the unwillingness of the Bank to disclose any data to analysts and investors.

In late may and early June, the Agency RAEX and the NRA downgraded the ratings of Finprombank due to the fall in liquidity and deteriorating credit quality. So, RAEX 31 may downgraded the Bank from “B++” to “In”, explaining his decision to decline in instant liquidity, the Bank with 49.4 per cent 1 April 2016 to 19.8% on 1 may. The minimum value of this norm, the set of Bank — 15%. The Agency also pointed out in his message to high refinancing risk of the loans taken on the interbank market for a period of 30 days. On June 2 the Agency withdrew the rating because the Bank refused to support it.

On 1 June the NRA downgraded the Bank from “A–” to “BBB+”, while noting a decline in liquidity in the Bank, and made stars out of non-public at the request of the Bank. Currently, the Agency conducts analysis of the Bank on a daily basis Artemyev.

May 10, the Bank of Russia has stopped accepting bonds of Finprombank as collateral for loans under REPO transactions, of the Lombard list, as of may 31, Central Bank paper is not ruled out. The Bank of Russia does so when trying to predict the onset of problems at the Bank, said Treasurer of Sovkombank Vladimir Bykov.

In addition, Finprombank there are some problems with the loan portfolio, a significant portion of the corporate loans granted indirectly associated with a shareholder of the borrowers without liquid security, says the managing Director on Bank ratings Agency RAEX Stanislav Volkov. “Some of the money on loans borrowers sent to the acquisition of assets, which are now cheaper, they are difficult to implement,” he adds.

The Bank primarily lends to the company the amount of corporate loans on June 1, amounted to 35.2 billion rubles, loans to individuals accounted for 3.3 billion rubles. the Bank’s liability base diversified and 30% consists of retail deposits 15% deposits companies, 7% is accounted for by funds raised from other banks (3.6 billion rubles) and 3% for bonds (1.8 billion RUB).

At the end of December, the newspaper “Kommersant” wrote that the Central Bank insisted on additional capitalization of the Bank at least 2 billion rubles to the end of 2015 and the additional formation of reserves. In December 2015, it became known that the capitalization of Finprombank in the amount of 10 billion rubles will be engaged in the structures of businessman Musa Bagaeva: he bought an 8.4% Bank of the company “u-Um Management limited”.

In addition Bagaeva, according to the Central Bank on 29 February 2016, the Bank’s shareholders are Andrey Belkin (19.9 per cent), Peter Kondrashov (19,5%) and Anatoly Goncharov (18,5%), Dmitry Semenov (18,2%), Stanislav Perminov (11.5 per cent) and Evgeny Lyubimov (1.7 percent).

The press service of Finprombank refused to comment on the outflow of deposits.