Renaissance Capital bypassed Russian Standard

Renaissance Capital bypassed Russian Standard

"Bank Renaissance Capital" since the beginning of the year wrote off bad debts amounting to 9.5% of the average of the loan portfolio. As a result of the net write-offs could reach 1.9 billion roubles. Analysts note that on this indicator "Renaissance Capital" overtaking leader express loans - Russian Standard Bank "."

Yesterday, the international rating agency Fitch Ratings affirmed top retail bank Renaissance Capital "at the level of" B-. Outlook on the long-term rating of default "Stable". "ratings take into account the risks associated with the rapid growth in the retail segment," the report states Fitch. According to the rating agency analysts, against the background of increasing the bank's loan portfolio continues to write off large amounts because of the bad debts. Thus, the net write-offs amounted to 9.5% (at an annual rate) of the average of the loan portfolio for the first nine months of 2007. The size of the average loan portfolio "Renaissance Capital" for the reporting period was 19.5 billion rubles, said agency Fitch analyst Olga Ignatieva. In addition, some of doubtful loans on the balance sheet of the bank remains: delay in the total portfolio, which at 1 October reached 26 billion Ruble was at the level of 3.8%.

Based on the data contained Fitch, it can be concluded that for the year the bank can write off around 1.9 billion roubles. But, according to Ms. Ignatyeva, due to the write-off of bad loans this year for the bank "Renaissance Capital" have become smaller. CEO of the bank "Renaissance Capital" Andrei Movchan difficult to name the exact amount being billed portfolio for nine months, but clarified that the figures cited in the annual terms, Fitch considers correct. "The amount of write-offs has declined steadily. Next year we plan to reduce them further 1,5-2% "- added Mr. Movchan.

"This volume provides debt forgiveness to put" Renaissance Capital "one of the most aggressive players in the market express loans -" Russian Standard "and" HKF Bank - noted director of the department of financial institutions ratings "Expert RA" Samiev Pavel. "Compared with other players from the" Renaissance Capital "significant amounts of bad debts. For example, "Russian Standard" in the past year wrote off only about 6% of the loan portfolio (11.4 billion rubles) - FC "said analyst Leonid Slipchenko Uralsib" - but 9.5% - it managed to delay bank, which vysokoriskovannogo operates in a segment of credit, because it covers the risks from higher margins. "