Conducted by the state program of capitalization of the banking sector did not reverse the negative trends in the development receive such support banks, said the Chairman of the accounts chamber Tatyana Golikova, speaking in the Duma on Friday, December 2.
It was planned that this program will support the lending organizations priority sectors of the economy, she said. For banks approved a list of these industries and established the obligation to expand the corresponding credit portfolio of not less than 1% per month. The obligation, according to the audit chamber on October 1, did not fulfill the four decapitalization of the Bank. According to the information Department, we are talking about Novikombank, Sviaz-Bank, RosEvroBank, Bank TKB.
Other banks, judging by their statements, comply with the request formally, said Golikova. “Our examination showed that clear criteria of target use of allocated funds is not installed” — called the head of audit chamber the reason for this situation.
The main funds continue to be directed on replenishment of working capital (84.2 per cent), lending to investment projects made up only 4.3%, said the head of the audit chamber.
As for industries, 47,5% of the funds to capitalize banks was issued in the form of loans to companies in manufacturing industries, over 14% and construction enterprises.
The speaker also drew attention of the Central Bank on financial results of banks participating in the recapitalization program. In the third quarter from 32 decapitalization of banks the number of which increased the volume of own funds decreased from 23 to 17. In addition, in the first nine months 2016 12 recipients of support from the state showed a loss of almost 70 billion rubles, eight demonstrated stable losses.
Thursday, 1 December, President Vladimir Putin in his annual address to the Federal Assembly, also criticized the banking sector for the “stability” of lending. “Overall lending to the economy shows unstable dynamics. In the framework of anti-crisis support in 2015-2016 we added to the capital of the banking system in the 827 billion. According to estimates, this resource has allowed banks to significantly increase lending to the real sector,” he said.
However, as Putin said, the volume of such loans in the current year has not increased, but even decreased slightly. “I know about the calculations in roubles in foreign currency, but the decline still occurred, even with the exchange rate difference,” the President added.
The program of capitalization of banks was launched in the second quarter of 2015. One of the conditions of obtaining state aid was the obligation of the banks on a monthly basis to increase its loan portfolio by at least 1% in the priority sectors of the economy. Also, banks had to increase lending to small and medium business, mortgage and lending regions. Banks can also buy bonds of companies relevant to the priority sectors.
The first state support in April 2015, got Sovcombank, which were transferred to BFL by 6.27 billion roubles as of 1 October 2016 for the recapitalization of the 34 credit institutions, the state spent $ 827 bln, including RUB 516 billion the banks received due to redemption of state preference shares.
According to the report of the Bank of Russia by results of monitoring of the banks received under the recapitalization program funds (have), in General, most banks have increased loans to the economy by an average of 1.9% per month. While the loan portfolio of the entire banking sector, according to the Bank, showed from April 2015, the monthly growth of just 0.19%. In October, the volume of lending to the economy by all Russian banks grew by 0.3%. Since the beginning of the year, the aggregate portfolio of loans to the real sector decreased by 4.7% to 41.9 trillion.
Since the start of the program until September 2016, the volume of credits issued to its members, rose 1.22 trillion rubles. the most Active banks financed the manufacturing sector, increase in the volume of lending to around 400 billion roubles, the growth of the portfolio of mortgages amounted to 275 billion rubles.
In materials of Bank of Russia also notes that to comply with the terms of the program for increasing loans to the real sector, banks have managed through the granting of loans to companies, on formal grounds not related to the list of priority industries, but, “according to the information of the banks operating in these industries”. The average monthly growth of lending to these companies was 6.1%. Most actively growing a portfolio of loans to agriculture and the chemical industry (2.4% per month), as well as companies from the telecommunication industry, transportation and companies engaged in the production and distribution of electricity, gas and water (an average of 2.2% per month).
The only segment of lending where banks did not fulfill the plan, were small and medium businesses. The issuing volume of this category of borrowers is growing just 0.7–0.8 percent per month. The Central Bank attribute this to the high risks in this segment: the share of overdue loans to small and medium businesses on October 1, was 14.5%.
