In the Bank “AK bars” half of the riskier asset classes, estimated analyst of the international rating Agency Fitch Anna Erachina. The assets of the Bank, excluding reserves of 256 billion rubles., she points out. Erachina tells about the assets, excluding reserves, net of non-core assets, including real estate.
Now in “AK the leopard” goes through the motions of the Central Bank, the results of which the Bank may have requirements Zarezerwowany, said Aracena. However, the capital of the Bank is relatively high-risk loans are not very high — 29 billion by the end of 2015, according to the method of calculating the Fitch, she said. According to analysts, this will be enough to create reserves of only 4 billion rubles, which is 3% of the high-risk portfolio.
The press service of “AK Bars” reported that the low level of redundancy of the portfolio is justified. “The Bank is working with companies in the Republic of Tatarstan, whose business is clear, and the capital adequacy ratio, calculated in accordance with the approach of the Basel Committee, at the beginning of this year was 18,38% with a minimum value of 8%,” — said the press service of “AK Bars”.
Thursday, June 23, Fitch downgraded the rating of “AK Bars” from “BB-” to “CCC”. This decision the Agency has taken due to the lack of progress in the work with troubled assets, stated in a press release from the Agency. So, at the end of 2014 the volume of high-risk net assets (this figure takes into account non-core assets) amounted to 116 billion rubles, after which it increased to 141 billion rubles on April 1 of this year, noted in the comments to the Fitch rating action.
Naprime, among high-risk assets the Agency has allocated 15 billion rubles loans to the companies not leading activities, 40 billion of loans to the construction sector and real estate sector, 18 billion investment unsecured loans companies, unsecured loan of 10 billion rubles, issued by the State housing Fund (SHF) of the Republic of Tatarstan for the purchase of shares of the Bank.
The load for the region
The Bank has already received support from the state housing Fund in the second half of 2015 in the amount of 9.8 billion rubles, and written in the press release of Fitch, the Bank recognized income in the amount of 16.2 billion rubles from the sale of distressed assets by RUB 29 billion to entities affiliated with the government of Tatarstan. However, most of the money came in the form of shares of Russian companies with average ratings, which Fitch indicates that doubts the quality of the assistance. In addition, as suggested by the Agency, most of the support went to cover losses of the Bank.
The Bank serves the budget flows of the Republic, and this gives reason to assume that, if necessary, Tatarstan will provide support to the Bank, says the Director for Bank ratings Analytical credit rating Agency (ACRA) Kirill Lukashuk. However, the authors of the press release Fitch Anna Erachina and Ruslan Bulatov noted that due to the limited flexibility of the regional budget of the Republic of Tatarstan may have difficulty providing timely support of “AK Bars” to the extent necessary.
“Persistent subsidies can relax the top management of the Bank, causing a similar situation may arise again and again,” — said the managing partner of the National Agency for financial studies (NAFI) Paul Samiev. “AK bars” is a commercial organization, and the Bank must be profitable, I’m sure Samiev. “The crisis has provoked the need for injections of the owners of many banks, so that in particular periods the Bank may experience losses, but if it lasts forever, it’s wrong” — sums up Samiev.
By the end of 2015, the Bank’s loss under international accounting standards amounted to 2.6 billion RUB in the First quarter, the Bank posted a net profit of RUB 1.1 bn., “But the profit was obtained mainly due to revaluation of securities”, — said Erachina from Fitch.
However, the press service of “AK Bars” noted that in 2016, the Bank is not planning a capital increase. “If such a need arises, the main shareholder in the person of the Republic of Tatarstan will support the Bank”, — assured the press service.
“AK bars” takes the 23rd place in terms of assets in Russia and first place in the region. According to April 16 of this year, the main beneficiaries of the Bank are the Republic of Tatarstan represented by the Ministry of land and property relations (35,88%) and the State housing Fund under the President of Tatarstan (25,78%). Also, the Bank’s capital includes Elena Malesina (of 8.56%), Nikolay Karpenko (8,09%) and others.
The Bank does Fund largely at the expense of the companies — 40% (194 bn). Deposits are 20% (94 billion rubles) bonds — 18% (83 billion rubles), interbank loans — 2% (9 million rubles),