Finprombank belonging to 8.4% the founder of the group “Alliance” Musa Bagaeva, has not fulfilled its obligations under REPO transactions for June 21 at RUB 600 million, according to the website of the Moscow exchange. In a press-service of the Bank reported that the delay was due to obligations on one day, however, on 22 June Finprombank fulfilled its obligations in full.
In may, Finprombank experienced an outflow of deposits. Funds of individuals decreased by 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%).
In addition, on June 17, the day of the publication of monthly reporting of the Russian banks in the Central Bank’s website, Finprombank not published a calculation of the Bank’s capital and the report on the implementation of mandatory standards. The disclosure of these reporting forms is recommended for banks, says the Director for Bank ratings ACRES Kirill Lukashuk. But the vast majority of banks reveals these forms to provide investors and analysts more complete information about your financial situation.
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. 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 when he foresees problems at the Bank, said earlier the Treasurer of Sovkombank Vladimir Bykov.
The Bank primarily lends to companies: 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 early June of this year shareholders capitalize the Bank by RUB 5.8 bn.
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).