Banks and Financial News

MICEX and RTS suspended bidding

2008-09-17T19:13:00.001-07:00

MICEX and RTS suspended bidding

Newsroom Priostanovleny tendering shares on the MICEX and RTS.

Trades on the stock exchanges suspended in connection with the prescription FSFR. Trades on the MICEX suspended from 12.10 CET, on the RTS stock exchange - with 12.08 CET.

Bank Soyuz perform obligations under repurchase transactions

2008-09-17T19:12:00.003-07:00

Bank Soyuz perform obligations under repurchase transactions

Newsroom Bank "Soyuz" affirms full compliance with all its obligations under the transactions with counterparties.

In an official communication Bank notes that, despite the difficult situation in the stock market, commitments for the transactions with counterparties implemented in full, including the repurchase transactions.

Bank Ratings Upgraded YuniKredit

2008-09-17T19:12:00.001-07:00

Bank Ratings Upgraded YuniKredit

Newsroom Standard & Poor's upgraded the long-term credit rating of JSC "YuniKredit Bank" to "BBB" to "BBB". Short-term rating affirmed at 'A-2 ". Outlook on ratings - "Stable".

The material from the agency indicated that the increased ratings due to progress in business development and maintaining high financial performance of the bank.
Ratings hamper the high transaction risks and generally heightened volatility of financial markets within the Russian Federation, fairly aggressive growth strategy and remains a large concentration of the resource base.

CIT Finance will finalize negotiations with the investor by the end of the day

2008-09-17T19:11:00.003-07:00

CIT Finance will finalize negotiations with the investor by the end of the day

Newsroom investment bank CIT Finance "is negotiating with strategic investors about joining the Capital Bank.

The message bank notes that negotiations with a view to overcoming difficulties in the calculations on repo transactions that have emerged from the bank in connection with the sharp decline in the stock market.

It is envisaged that negotiations will culminate with a strategic investor by the end of the day.

System-banks would be supported by the Ministry of Finance

2008-09-17T19:11:00.001-07:00

System-banks would be supported by the Ministry of Finance

Newsroom Russian Ministry of Finance reported that the authorities will undertake a series of measures to support Russia's financial system. In particular, the limit will be increased deployment of free treasury funds in bank deposits. Also support will be provided system-banks - an increase of placement and timing of the deployment limits.

Thus, Sberbank, VTB and Gazprombank will be asked to raise funds on deposit federal budget for a period of three months or longer. Limit placement of funds in these banks increased to 1 trillion. 126.6 billion rubles. Given the increasing limits placement of funds in Sberbank, VTB and Gazprombanke total placement of funds increased to 1514 trillion. rubles.

Also scheduled to make a change in budgetary legislation, the possibility of placing funds in the budget, bank deposits in 2008, returning funds in 2009.

CIT Finance does not pay for a number of repo transactions

2008-09-17T19:10:00.001-07:00

CIT Finance does not pay for a number of repo transactions

Newsroom investment bank CIT Finance does not pay for repo transactions (sale of securities with an obligation to reverse repurchase) at 6 billion rubles from about 15 contractors.

According to unofficial data, the bank does not calculate before VTB, Nomos-Bank, Communications Bank. Among the "victims" also known as counterparties KIT Merrill Lynch, "Renaissance Capital", Alfa Bank and Uralsib. " Representatives of banks do not comment on the situation.

In a statement CIT Finance notes that the failure of several customers of their obligations, the bank, in turn, has not fulfilled some obligations to contractors. The bank noted that intensive work is under way to resolve the situation.

Experts warn: liquidity problems for the entire market, can go a chain reaction of defaults on securities transactions and series of bankruptcies.

In banking circles say that CIT Finance is negotiating the sale of VTB, but information has not yet officially commented.

Central Bank will provide more liquidity

2008-09-17T19:09:00.002-07:00

Central Bank will provide more liquidity

Newsroom Bank of Russia takes additional steps to increase its ability to provide liquidity to commercial banks. According to the Central Bank First Deputy Chairman Alexei Ulyukaev.

The relevant decisions adopted before the committee on monetary policy TSB.

As pointed out by Alexei Ulyukaev, reset discounts on direct repo operations with OFZ and OBR. If before discount was 1.25%, now it equals zero, and hence, under the same amount to ensure banks can attract more liquidity. This will increase the possibility of TSB to provide liquidity through repo transactions by about 10 billion rubles.

Also, the Central Bank increased the adjustment ratios to provide liquidity on bail non-tradable assets - credit claims and bills. Each of the three types of correction factors upgraded to 0.2. This will provide additional liquidity at billions of rubles.

Securities held Lombard loan auction

2008-09-17T19:09:00.001-07:00

Securities held Lombard loan auction

Newsroom September 16, 2008 the Central Bank of Russia held a Lombard loan auction (on the American way) with a term loan 2 weeks (14 calendar days, the date of the loan Lombard Bank of Russia on the outcome of the auction - September 17, 2008, the date of Lombard loan repayment and interest payments on it - on October 1, 2008). It is reported department of external and public relations of the Bank of Russia.

Central Bank of Russia set the rate cut in the amount of 8% per annum, average interest rate - 8.03% per annum.

Fixed interest rate on loans Lombard Bank of Russia for a period of seven days for the period from 17 to Sept. 23, 2008 inclusive fixed at 8.03% per annum.

The market will collapse sequence of bankruptcies.

2008-09-17T19:00:00.000-07:00

The market will collapse sequence of bankruptcies.

Newsroom Problems of American financial institutions have caused the collapse yesterday deepest on the Russian stock market.

The collapse started from the opening, in connection with the sharp decline in stock exchange quotations were forced to suspend trading in individual stocks ( "Rostelecom", Sberbank, TGC-7 and others). At 16.42 Moscow time on MICEX index decrease was 16.6% and stopped bidding at the bourse hour. That decision has not adopted with the bourse on June 13, 2006. In bidding to suspend and 17.00 on the RTS.

At the end of the day RTS and MICEX index lost 11.47, and 17.45%, down to levels the end of 2005. Thus, VTB shares fell yesterday on the MICEX at 29.26% and now stands at 76% below the price of accommodation. Papers Sberbank lost 21.72% (59.55% lower on placement), "Rosneft - 21.27% (34% below the prices of placement). The capitalization of Gazprom fell by $ 31.96 billion

Experts warn that as soon as possible collapse of the Russian market will lead to a chain reaction and its impact will manifest itself in all sectors of the economy. The collapse in the market would cause serious problems with credit from Russian companies, many of whom may become bankrupt.

Guta-Bank and the "Russian Standard" - not the same?

2008-03-13T23:27:00.007-07:00

Guta-Bank and the "Russian Standard" - not the same?

It can be assumed that the State which is the principal shareholder and Sberbank, and VTB, it would be only happy associations second largest gosbanka with "Russian Standard". And, as some experts believe, the Russian authorities do not sit idly by.

They are doing everything possible to accelerate the process of concluding the deal and, more importantly, are doing everything possible to ensure that the asset sale was conducted on favourable terms gosbanka. "It seems that the attacks and kidnap FASa to" Russian Standard ", denounced the charges against the bank in violation of the rights of borrowers and Roustam Tariko calls to the prosecutor's office paved the way for the bank willingly went to the talks with VTB about their own sales" -- "BO" said an expert from an international consulting firm.

"It seems to me quite realistic following scenario: Roustam Tariko offered any conditions, he found them unacceptable and refuses, then the attack begins, and for the" Russian Standard "create favourable conditions not too activities. Against this backdrop, negotiations resumed, it should be a new waiver, but for him - the new attack, etc. Given that serves as a buyer VTB, gosbank ie, it can be expected that as a result of "Russian Standard" "prodavyat" - thought Specialist.

It seems that in a certain outcome, most market participants. It could hardly be considered coincidental that the experts, analyzing the situation around the Russian VTB and the "Standard" increasingly recall events of three years ago. Namely tale of how Vneshtorgbank bought hot summer of 2004, one of the largest for the time Russian private financial structures - Guta-Bank. A unit of whether the current situation in the case and "long past days" just the fact that in both cases, the role played VTB buyer? Or between kazusom "Guty" and "kazusom" Russian Standard "much more in common than it may seem at first glance?

"I think that between the current situation around" Russian Standard "and the situation that prevailed in the market in 2004, in anticipation of the" absorption "Guta-Bank, indeed, there are some common characteristics" - Paul believes Samiev ( "Expert RA"). Analyst notes that, and then, and now on the banking market experienced a liquidity crisis. "In many ways this is why VTB succeeded three years ago to commit successfull purchase: it has acquired an asset with a well-developed branch network for funny money" - explains the analyst. Funny, if we compare them with the then coefficients, and even more so funny, in the case of conversion rates, shaping the last year or two when buying banks with a lot of branches, divisions and sales outlets. True, it should be remembered that the Guta-Bank at the time of its sale had a very big problem with liquidity. So long that many experts recognize them incompatible with the continued existence of the bank.

Nevertheless, analysts acknowledge, VTB still lucky with the price at the "Gut": over 86 - per cent share in one of the largest at the time the Russian financial and credit structures gosbank posted only 1 million rubles. Sources in the market argue that VTB lucky with the crisis: the big time, he happened! So much time that many observers have even considered it "man". The crisis, they were convinced, sought to lower the prices of banking assets and create a situation in which gosbank could prirasti per cent private body, marked the official position in the market of banking services.

Russian Standard "X", the experts believe such a scenario will not be able to play. First of all because too great a difference between the brainchild Roustam Tariko and Guta-Bank, said Chairman of JSC "Svedbank" Manchinskis Maris. Guta Bank was corporate bank, it certainly was a good branch network, but it could not match the "Russian Standard" neither on the situation in the market, nor the size of client base - stresses the specialist. -- In addition, in the case of "Guti" VTB literally had to "buy" Eizenshtein Bank, and in the case of "Russian Standard" did not have to do this. Assume that because of a change in the rules of the game for market returns on capital for the bank Roustam Tariko decline slightly, but it is clear that to the collapse of the business is not, and "Russian Standard" still remains one of the most profitable banks in the market. In any case, in the foreseeable future ".

Natalia Orlova of Alfa Bank also believes that the present situation around the Russian Standard "little" recalls the events of three years ago. And not only because of Guta-Bank model in 2004 and Russian Standard Bank "model" in 2007 - a huge amount of distance.

Over the past three years, according to the expert who has changed himself VTB, and the attitude to it by the state. "It is necessary to bear in mind that in 2004 was 100 VTB - state-owned bank interest. He could take any credit at the Central Bank. Now the situation has changed: the bank has become more market-based, it can no longer bezoglyadno use public money to realize their goals and objectives - for example, to purchase new banking assets "- expert stresses. In other words, VTB now have to play by the rules common to all. In the event that talks between him and Roustam Tariko Sales "Russian Standard" will be released at the finish line, will gosbank Saddam for themselves every ruble, observers say. Because alignment with any purchase of one of the leaders of the Russian consumer million rubles it will fail.

Finally, as the sources of stress in the market, and not forget another point. "Three years ago, VTB acquired" Gutu ", but natselivalsya he seems not at all to it, and at Alfa Bank, which was at that time a much more attractive target for acquisition. Or, at the worst end, the Rosbank, which was then just "revenue" OVK branch network and as a result has become too promising from the point of view of retail unit - one of the experts said foreign banks agreed to comment on the situation on the condition of anonymity.

-- In fact, all the then liquidity crisis was created to "fallen" or Alfa-Bank, or Rosbank, and "fallen" is not to get something, and straight into the arms of the VTB. However, the "Alpha" has saved shareholders Rosbank postponed the crisis more or less easily, but "Guti", which was weaker and "Alpha" and Rosbank not resist. " Now, in the words of analyst gosbank aims to "Russian Standard" and for whom no more. Because more attractive, and most importantly, free of retail assets in the market is not.

Shareholders Ekspobanka created at the National Development Bank

2008-03-13T23:27:00.005-07:00

Shareholders Ekspobanka created at the National Development Bank bank servicing wealthy clients - M2M Private Bank

Shareholders Ekspobanka completing the transformation of the National Development Bank (BNR) to the bank servicing wealthy clients. NBI name to succeed M2M Private Bank and will be the first specialized bank with the Russian capital, working in the private banking market (PB). The experts call it a good sign, and other private banking in Russia a great future.

The National Development Bank (NBR), according to the IA Банки.ру "and" agency "Interfax-TSEA" on July 1, 2007, took 305 th - in the size of net assets (3.1 billion rubles). As at June 18, 2007 to shareholders included Andrei Tarasov (19998%), ZAO "Hold-Trust" (20%, Dmitry Krasnohorsky owners and Zinaida Troshina) Ltd. "City-Consulting" (20% owner Vladimir Davydov ) Ltd. "TK" Grand "(20% owned offshore) Ltd." Torgagentstvo "(20% owned by Moscow-Rhombus Ltd." Rent "). In February this year, led by ex-Bank зампред Ekspobanka Vladimir Zrazhevsky.

In late 2006 the owners of the National Development Bank have become actors controlling Holding "Petropavlovsk-Finance", which includes Moscow Expobank, Asia Pacific Bank, Bank Kolyma. Shareholders decided not to include the NBR in the holding, and make it as a separate bank draft - specialized organization servicing wealthy clients (private banking).

NBR Corporate unit was transferred to Expobank and wealthy clients Ekspobanka deals, in turn, suggested the move to services in the NBR. At the changes have not ended. Bank closed the loan and cash offices and offices (there were about 30), reduced the operation of the financial markets, resulting, according to the Banki.ru, has been reducing the size of its staff: July 1, 2007, the NBR is not employed more than 100 people, while a year ago - almost 400. In November 2007 the Bank announced the closure of a branch in St. Petersburg and on the change of name to M2M Private Bank ( "M2M" stands for "money to money"). Shareholders refused to talk about the new strategy for the bank until the end of the technical procedures related to the redevelopment of NBR.

However, according to information Banki.ru, a process now almost complete - CB registered changes in the Bank's statute related to its renaming. "After the technical procedures associated with the change of printing documents NBR formally change the name to M2M Private Bank" - explained Banki.ru predpravleniya Vladimir Zrazhevsky Bank. Since then, the organization will act in accordance with its development strategy. According to Mr. Zrazhevskogo, the strategy "clear" and covers the next 3 years. But he did not go into its details, stating only that in the three years M2M Private Bank (M2M RV) should go in terms of assets and funds management several times.

According to Vladimir Zrazhevskogo, the bank customer can become any private person, ready to invest in its products from 100 thousand dollars. For comparison: in the West, "" big ticket "Private Bank" is 1 million dollars. "This is old money, that is, money derived from business - Vladimir Zrazhevsky. -- No M2M PB works with clients who have this amount may not be in cash but in business, because we assume that these people have the capacity to finance growth opportunities. "

Product number M2M RV little different from the limits of competitors. It is standard for this market classic banking services (RKO, deposits, cards, loans, accounts, transactions in precious metals, etc.), trust management and brokerage services, family office (tax and legal consulting, accounting services, insurance etc.), programs for the organization of elite leisure or Life Style Management (program discounts and privileges in acquiring membership in private clubs, leisure). Along with the standard bank provides products and less common in the Russian market, such as structured deposits, the funds of funds, the units of foreign securities, consulting, capital protection, individual financial plans.

Win customer M2M RV intends speed and individuality decision. "C each client M2M PB personal manager is working, and that is the foundation of client policy of the bank - continues Mr. Zrazhevsky. -- We have and regional customers in the near future a strong unit planned to work with them. " He believes that the larger the organization, the more a product model and the less opportunity for an individual approach to the client. "Generally speaking, large banks - are factories, and we are trying to serve customers on manufakturnosti, boutique bank" - he pointed out, adding that M2M PB - "probably the first Russian bank, which is located on an individual banking licence and is only private ".

Market participants believe the emergence of the first independent "private bank" a good sign. "This suggests that credit organizations finally have come to see private banking is not as a loyalty programme for its corporate customers, shareholders and top managers, but as a separate business and are willing to invest substantial sums in it," - said Valery Banki.ru Chumachenko, director of marketing Uralsib Bank "121". He noted that the earlier banks in Russia did not put in separate private banking entity, and provided such services on the basis of their own departments. One of the reasons for reluctance to provide "private banking" in the direction of self - a small amount of market PB (15-20 billion dollars). But recent trend on the annual doubling its volume, said Mr. Chumachenko that is likely to become one of the main reasons for the emergence of new major players in this market.

A similar opinion of the managing director of K & S Capital Management Oleg Kapitonov. "I think shareholders M2M Private Bank correctly done that began to develop this service on the basis of a separate organization" - he says. According to him, the existence of private banking services in its lineup Bank, which is retail, sometimes creates problems of its owners. "These businesses are quite different risks ideology. If the bank is interested in attracting a strategic investor in its retail business, but he does not want to "give" their VIP clients, such a division would be "incidentally - concluded Oleg Kapitonov.

Russian Development Bank notes 15 - anniversary

2008-03-13T23:27:00.003-07:00

Russian Development Bank notes 15 - anniversary

October 28, 2007 Russian Development Bank is 15 years old. Commercial Bank "Russian Bank for Development" (JSC) was founded in 1992, at a time when the Russian banking system only began its development. During my 15 - anniversary of Russian Development Bank - is a universal bank is currently providing its clients a full range of banking services, including services to private and corporate clients, investment banking, trade finance and asset management. Plans for the bank - the further development of retail business, credit for small and medium-sized businesses, special programs for Private Banking, as well as expansion of the branch network.

To date, Russian Development Bank is among the 100 largest banks in Russia to fit its own funds and assets, took place on 33 volumes of deposits attracted from individuals. Bank took place in the rating of 25 "most reliable of the 100 largest Russian banks" (the magazine "Profil" 29.10.2007), and 10 position in the ranking of "The Best depository banks for deposits in rubles" ( "National" financial rating RIA RosBusinessConsulting "" 17.09. 2007).

Extensive network of missions Bank includes 24 offices in Moscow, the regional representative offices in 15 cities in Russia and more than 100 ATMs in the regions of the bank. Branches and additional offices Russian Development Bank are working in Saratov, Samara, Togliatti, Novosibirsk, Tula, Nelidovo, Novomoskovsk, Tver, Serpukhov, Penza, Engels, and Vladimir Kamyshin.

In December 2004 2007 year Russian Development Bank received the magazine "Finance" in the category "breakthrough year" . Russian Bank for Development entered the Top-20 "most dynamic public companies for 2006" (the magazine "Finance" 08.10.2007).

The leadership and staff sincerely thank bank customers and partners for their confidence.

In exchange for the abolition of additional fees and fines

2008-03-13T23:27:00.001-07:00

In exchange for the abolition of additional fees and fines

U Rospotrebnadzora again wake keen interest in the banks. Head Office Gennady Onishchenko, dissatisfied with the fact that not all followed the example of the "Russian Standard" and renounced the commissions, market participants promised massive checking on the complaints of borrowers and monitoring of total lending conditions. If pressure officials will be just as effective as in the case of the "Russian" standard, not all banks face a liquidity crisis, experts predict.

11 December in Rospotrebnadzore Advisory Council held a meeting to discuss the situation with the protection of consumers of financial services. The outcome of yesterday's meeting, read a department head Gennady Onishchenko. He said that despite the positive steps "Russian Standard" to lift the additional commissions, other banks example of the market leader, did not follow. As a result, "despite the measures taken, the situation in the area of consumer credit issuance of the population remains tense" - conveyed the words "Interfax" Mr. Onishchenko. In this regard shortly agency intends to hold "purposeful checks for banks, leading to part violations of the law in the area of consumer rights." Onishchenko plans are based, he said, on the growing support for the courts "Rospotrebnadzora legal position on the assessment situation in the banking sector of the issuance of consumer loans citizens want."

The legal position is the recognition Rospotrebnadzora illegal charging banks with loan borrowers additional fees and penalties for early repayment of the loan and overdue payments on it. For the first time, it manifested itself in summer 2006, when disco ruled an administrative violation against Home Credit and Finance Bank. Trying to challenge him, the bank has lost in three instances. In spring 2007 the department Gennady Onishchenko served in several peer-party lawsuits borrowers to banks filed with the help of the public organization "checkpoint". The culmination of the struggle officials with the banks became initiated Rospotrebnadzorom checking Genprokuraturoy Bank "Russian Standard": as a result of the bank completely abolished commission not only on new, but also on previously issued credit. Rospotrebnadzor parallel with a mixed record from about a dozen banks, which attempted to challenge his claim.

Yesterday's statement by Gennady Onishchenko indicative of a new surge of interest in health departments in the banking sector, after three months of quiet, during which the department apparently tried to assess the effect of pressure on the "Russian Standard". But he was not as significant as expected. Besides HKF Bank, part of the unwilling dopkomissy (see yesterday '), other banks have been slow to adopt similar measures. "Despite the refusal of dopkomissy, the reputation of the two market leaders rather podporchena confrontation with the authorities, and many borrowers under the influence of the prevailing stereotype go to other banks, even if there dopkomissy" - analyst believes the agency "buy" Belozerova Victoria.

"It seems Gennady Onishchenko again took on the case and intend to save borrowers from the Commissions and fines - Top Manager notes major Russian bank .- If methods impact will be the same as in the case of the 'Russian Standard', some banks may not survive "liquidity crisis. From a secondary examination and not insured banks that Rospotrebnadzor already tried it. 'As explained chairman of the International Confederation of Consumer Societies Dmitry Yanin, in the Law on the Protection of Rights and business entity in the state has a clause allowing an unlimited number of unannounced inspections of complaints made by citizens, while at the initiative of Prosecutor verification of the same businesses can take place only every two years.

The situation for banks exacerbated by the fact that banks alone inspection leaders on the number of complaints from borrowers Gennady Onishchenko did not intend to be limited. 'As reported by a member of the consultative council, who attended the meeting in the office, in conjunction with inspections Rospotrebnadzor will begin monitoring retail products and credit agreements leading banks, regardless of whether they received complaints from borrowers or not.

Renaissance Capital bypassed Russian Standard

2008-03-13T23:26:00.005-07:00

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. "

A side, but the logical effect of global liquidity crisis: Russia may start in escrow boom

2008-03-13T23:26:00.003-07:00

A side, but the logical effect of global liquidity crisis: Russia may start in escrow boom

The banking system is developing in full compliance with known since the school laws of physics: if one of the communicating vessels something attrition, the other must necessarily come. Loss of cheap and easy money in the international financial market, banks are automatically pushed to the struggle for deposits. And many credit advertising are increasingly beginning to crowd out new advertising deposits. New Year holidays have given this process a traditional seasonal acceleration.

Contributions to swing

Observers note: since December deposits in Russian banks are at the peak of attractiveness. While in the first half of last year saw directly opposite picture. Until the summer of the largest banking market players gradually reduce interest rates on deposits loan. What is logical: for the first half of 2007, the Russian Central Bank lowered twice bid refinancing and finally recorded it on the level of 10%. Naturally, the interest on deposits also rushed down.

The situation began to change around mid-September, when it became clear that interbank borrowing on the international market went at least a couple of paragraphs, and global plans of Russian banks to securitize the loan portfolios will have a minimum sequester as the maximum - to postpone until better times. And banks in search of money again turned to the depositors. Since the beginning of October, the market began a steady increase in interest on deposits. By New Year averaging market they increased by 1,5-2 item.

Environment for the deposit boom is a relatively positive. First, increased confidence in the safety of Russians savings: in the past year Deposit Insurance Agency raised the level of deposits, which in the case of bankruptcy of the bank insurance payment is made, up to 400 thousand roubles. Secondly, at the beginning of last year, returns on ruble deposits for the first time surpassed the level of inflation. True, the end of the year still spoil the impression: the upsurge in prices raised the annual inflation rate to 11% for the year, that is precisely to the level of rates for ruble deposits. But, in any case, now it is possible to ascertain that the money in banks at least not depreciate.

Rather, the "parity" between inflation and the return on deposits in the short term will remain: experts note that the rates on deposits reached a peak, because pay more than 12% on the rouble and a 9-10% for foreign currency deposits of banks are no longer cost-effective. However, this may not be the exception, especially when it comes to so-called long contribution (for more than 3 years) and irrevocable deposits (deposits, which fizlitso even with a loss per cent condition could not close before the end of the deposit agreement). Such banks can attract money and at higher rates. Act now before irrevocable contribution margins in the Duma, and most likely in the new year, it will be adopted.

Ruble - force

"At the call of" escrow people, in general, responded. According to Ivan Zakharov, the head of the financial portal Pro-Credit.ru if, in 2006 and early 2007, the vast majority (over 95%) of sites asked visitors to the financial conditions of various types of loans, but now at least one in five looks at the page with information on conditions deposits. This is confirmed by statistics: Russians deposits in 2007 increased by about 27%. According to the Central Bank, as of December 1, compared with 4.8 trillion rubles - more than a quarter of the total liabilities of the Russian banking system.

Psychologically a landmark achievement on the deposit market: in the past year, the first time since the reforms of 1991-1992 deposits in rubles were profitable deposits in dollars. The Russians finally convinced that any major savings in dollars to keep cool.

The American currency and both fell against the ruble by about 10%, and given the fact that rates on dollar deposits differ from the ruble at 3-4 item, deposits in the "bucks" definitively lost. But deposits have grown significantly in euros. Many bank managers say that until recently, when they held a fraction of the deposit market, but now they share in the structure of foreign exchange deposits of Russians is growing rapidly. Most likely, this trend will continue in the new year.

Stock exchanges against banks

According to Andrew Bocharova, adviser predpravleniya Bank "Stroykredit" Today deposit interest and banks, and their customers, especially in view of volatility in the stock markets. So it can be expected that during 2008, in the arms of the "deposit" of domestic banks dropped an even larger number of Russians.

However, the question of who whom pereboret - Whale (stock market), or elephant (banking market) remains open. By the end of last year fondoviki, which had previously provided to their customers in times more revenue than bankers, has surrendered its position. Recall that many "blue chips" have brought their holders losses ( "Rosneft", "Lukoil", "Surgutneftegas") or income are much more modest than in previous years ( "Gazprom", "RAO UES of Russia"). And although there are very impressive "breakthroughs" (35-70% went to equities "Rostelekom", MTS, "Tatfneti", "Aeroflot"), generally yield funds bought banking and general management (unit) fell.

Analysts suggest that more than 10% of Russian bought on the basis of last year will be at break even and only 7-8% yield to investors incomes above 20%. The average yield of the units in the Russian PIFah be at the level of 15-18%. This is more than twice as high compared to the year before, and quite comparable to the return on bank deposits. Especially when one considers that the risks mildly.

The positive result of rivalry and fondovikov banks - the emergence on the Russian market of new banking products. In particular, banks are increasingly experimenting with a kind of hybrid of deposits and the units - so-called indexed deposits, or deposits, which yield is pegged to change the value of any assets (stocks, precious metals, etc.) or to the difference exchange rates. At that such deposits yield lower than that of the units, but some kind of guaranteed minimum.

Today indexed deposits offer its customers Citibank, CIT Finance "," My Bank. At the same time, increasingly appear offers investment deposits - deposits, income on one side of which is strictly fixed, and the other depends on the conditions in the stock market.

Bet on gold

Quite unexpected outcome of last year - a return to roots. At all times one of the most conservative and at the same time saving ways was faithful investing in precious metals. It seems that in the near future such banking product can receive new impetus.

More and more banks are introducing into use so-called metal accounts - deposits, which yield is pegged to fluctuations in prices of precious metals (gold, silver, platinum and palladium) in the world market. Clearly, in this case, instead of income and loss can happen, but in recent times metal accounts showed impressive success.

Last year, the price of gold rose by 32%. And in just the past three years - to 101%. Silver for the same three years was the more expensive 156%, platinum - by 85%. Accordingly, it has affected and on the success of metal accounts tied to gold, which last year provided investors in the 26% income.

In the new year, likely so impressive trends continue. "the year 2008 has been described as the year of gold, and this is not an accident - noted Dmitry Balkowski, гендиректор Independent Bureau of mortgage lending. -- In recent days, gold has set a new record price - 900 dollars per troy ounce. Projections of the most optimistic analysts minded - up to 1.1 thousand dollars per ounce. So there is loaded with great prospects ".

The Soviet legacy escrow

Recently issued government regulation that specifies the order compensation payments for the pre-reform (until 1991) deposits in the Savings Bank in 2008.

According to the Ministry of Finance of Russia, for compensatory payments this year will be sent 56 billion roubles in 2009-2010 - about 160 billion rubles.

Recall that the compensation payments Russians have lost money as a result of reforms in 1991, produced in 1996 by age - started with the oldest.

In the new year, will receive compensation Russians were born before 1955, persons with disabilities and their heirs. The majority of compensation paid by denomination.

The tricky point - to compensate for the contribution of the Soviet era, recently agreed and Ukraine. Agency "Regnum" on the matter quoted saying Ukrainian premier Yulia Tymoshenko: "After the collapse of the Union of saving people remained in Moscow, in Russia's Sberbank. But we stick with them Ukrainians. " Meanwhile, the Ministry of Finance "in the Russian newspaper" stated that any negotiations in this regard between Moscow and Kiev is not maintained, and recalled that the USSR Sberbank in January 1992 has been eliminated.

Renaissance Credit provides loans to a network of shops Castorama

2008-03-13T23:26:00.001-07:00

Renaissance Credit provides loans to a network of shops Castorama

"Credit Renaissance" ( "Bank Renaissance Capital"), which occupies a leading position in the market, reported that won the tender to provide services in the network hypermarkets lending products for the home repair and Castorama in Russia and left her partner. Total 4 participated in the tender credit organizations.

"For more than two years, we have cooperated with Castorama, one of the world's best-known companies offering products for the home and repairs - said chairman of the" Renaissance "Alexei Credit Levchenko. -- We are pleased that we were able to prove their worth and the buyer side of the network hypermarkets spoke highly of the services of our bank. We are also pleased that once again chose Castorama "Renaissance" Credit her partner. "

Castorama Company is a member of the British group Kingfisher - first in Europe and third worldwide network of hypermarkets format DIY. Kingfisher Group owns more than 770 stores in nine countries in Europe and Asia, and is in a strategic alliance with Hornbach (Germany), owns more than 120 shops throughout Europe. First European brand Castorama stores opened in 1969. To date, Castorama - a 98 hypermarkets in France, 28 in Italy, 39 in Poland and 5 in Russia.

Depositors' RIB-SIBERIA "pay 6 million Ruble

2008-03-13T23:25:00.002-07:00

Depositors' RIB-SIBERIA "pay 6 million Ruble

Deposit Insurance Agency reported attack on March 6, 2008 in insurance loss in respect of the credit organization "ROSINBANK-SIBERIA" JOINT STOCK COMPANY (RIB-SIBERIA "JSC). Due to the fact that the bank is a party to a system of compulsory deposit insurance (№ 411 on the roster banks - participants DIS), each depositor is entitled to receive as soon as possible insurance indemnity provided for the Federal Law of 23 December 2003, № 177 - F3 "On Insurance individual deposits in banks of the Russian Federation ". Insurance reimbursement will be paid to each depositor step on the scale: 100% of all deposits in the bank, not exceeding 100 thousand rubles, plus 90% of the amount exceeding 100 thousand rubles, but no more than 400 thousand roubles in the aggregate, less counter-claims to the bank depositor.

Bank Liquidation Commission within seven days after the license revocation will submit a roster of ASV Bank commitments to investors. According to preliminary data received from the bank, the amount of insurance reimbursement ASV is estimated at 6 million roubles. For payment of insurance compensation, estimated the Agency may request up to 1 thousand people.

To prompt receipt of applications of citizens and possible compensation payments fast on deposits ASV intends to use the bank agent. In term of up to March 17, 2008 the bank agent will be selected on a competitive basis. DIA will send for publication in the Bulletin of the Bank of Russia "and in the local press, as well as deploy DIA official website ad for bank depositors of the place, time, manner and procedure for applying for admission insurance compensation. All set on the roster investors will be informed of the official letter in the mail.

The dollar fell to a new historic minimum

2008-03-13T23:25:00.001-07:00

The dollar fell to a new historic minimum

Coors dollar against the single European currency today reached a new historical minimum, breaking the mark of 1.54 dollars per euro.

The negative impact on the dollar will provide the American economy into recession and further reduce interest rates the Federal Reserve USA, expected by investors. On the depreciation of the dollar also had vliyainie preservation of the European Central Bank interest rates and the Bank of England, announced the day before.

What lies in the country's banking sector in 2008?

2008-03-13T23:18:00.001-07:00

What lies in the country's banking sector in 2008?

The outgoing year has been difficult for the Russian financial market: the first half was marked influx of capital into Russia and excess liquidity, and the second, due to the mortgage crisis in the United States has felt its deficit. With speedy measures TSB full liquidity crisis was averted. But napryazhenka liquidity, the experts say, will continue for long.

Dear pleasure

The outgoing year has been one of the bankers for the most emotional. He began with euphoria. You bet: the inflow of foreign capital into Russia beat records. In the first half of the volume of foreign investments in the Russian economy grew at 2.6 times to reach 60.3 billion dollars. Banks actively hold funds in foreign markets - in 2008 they will pay about 70 billion dollars. Russian companies have successfully conducted public offering in the domestic and foreign markets. Two major lending institutions using SPO IPO and attracted a total of about 17 billion dollars: VTB - 8 billion dollars, the Savings Bank - 8.8 billion

But the joy was short bankers. Market drowned in excess liquidity. As a result, out of control inflation, which since June 2007 has attracted positive turnover. But the main thing was to come: the crisis caused by non-mortgage loans in the United States, has led to a shortage of liquidity in the Americas and Europe. The money went to western markets, as a result of a number of Russian banks has reduced foreign borrowing program for the year 2007 "and" cut the volume of mortgage lending. For example, in October Moscommertsbank first is suspended for mortgage loans, and then resumed, but with more stringent requirements for borrowers. A Uniastrum Bank stopped issuing loans in foreign currency.

In addition, banks have raised rates on deposits and mortgages on average by 1%. By the end of the year, some of them have started to sell mortgage portfolios larger players - such as VTB. Head of Department operations in the financial markets TSB Sergei Shvetsov points on the back side of the coin: in his view, because of this situation, Russia for the first time since the abolition of exchange controls felt themselves part of the global financial market.

Tablet from crisis

CB had to take swift action on refinancing Russian banks. The increase in deposit rates, issue their own bonds and increasing demands on the fund obligatory reserve - all of these tools, according to Sergei Shvetsova successfully used to absorb excess liquidity, engulfed the market.

It is noteworthy that the plan to tackle the crisis of liquidity Central prepared quickly, and action taken in October helped to stabilize the situation in the domestic market. Luckily, the accumulated resources enabled to do so quickly.

The first time the Central Bank carried out a large-scale refinancing, extending Lombard list. This cleared the banks access to additional support from the Central Bank in the amount of 150 billion roubles. Then, the regulator cut mandatory reserve requirements on retail deposits - in the end vysvobodilos still some 100 billion rubles of bank funds. At the same time, interest rates have been reduced to "currency swap transactions" from 10% to 8%. As a result, in the interbank market at that time there was some stability. Seeking to save itself and the domestic market, the Central Bank has resorted to such means to the end of the year the impact that market participants liked. Thus, zampredpravleniya Absolut Bank Anatoly Maksakov said that through these measures, "the majority of Russian banks is relatively easy to overcome the impact of the global liquidity crisis."

Vasily Fyodorov, Director of Operations in the financial markets Nomos-Bank saw merit in expanding the list of tools that can lay through Eurobonds. "And the further lowering of quality issuers, securities, which may include in the list of Lombard, in my opinion, is not required", - he Banki.ru.

A side effect

Having solved one problem, the regulator collided with another: as a result of actions to stabilize liquidity and significant strengthening of the ruble against the dollar Russian financial authorities have lost control over inflation. In the second half of 2007, the inflation rate Breaks originally projected value of 9%. According to Sergei Shvetsova, by the end of the year expected inflation already at the level of 11-11,5%.

Analysts predict Alfa-Bank in the spring of 2008, the increase in monetary inflation. "The acceleration of inflation - it is inevitable price to be paid Russia for its heterogeneous banking, in which part of the banks have access to liquidity because of their size and status, as part of the compression vulnerable to the market. In the long run, inflation will lead to a decrease in long-term investments, which will make the markets highly speculative, and as a consequence, "leakages" - described in the analytical report Alfa Bank.

What heart Settle

Banking experts say with caution on the prospects for 2008. In their view, the situation in world markets is unlikely to improve in the next six months. For example, leading analyst predicted IR "Financial Bridge" Olga V., the rate of LIBOR "has every chance to stay at a level close to 5.5%." Therefore, the Central Bank of Russia will continue to provide "assistance" to their wards.

May negatively affect economic growth and a decline in the United States - it will "crush" on the economies of the commodity focus. "Since the Central Bank is planning to raise it refinancing, we can expect a downward current rates no earlier than the summer, as necessary to gain information and understanding of the causes of inflation and growth prospects for the stabilization of the situation" - explains Anatoli Maksakov.

However, Russia, a country still raw, has insurance in the form of stable oil prices to ensure the inflow of liquidity. Moreover, the Russian market, while remaining "aborted" in the field of credit, has less risk compared to the more developed markets, the USA and Europe. So there is reason to believe that the present liquidity crisis in Russia continues bypasses.

I do not fear injections…

Another event, the consequences of which the banking sector will be able to feel fully in 2008 - is a requirement of the Central Bank on July 1, 2007 to disclose the effective interest rate (EPS) on loans. We know that not all banks previously held the transparent conditions for retail lending, credit practicing hidden commissions. However, once the regulator is obliged to disclose their "card", the customers of these banks may start mass exodus to competitors, which will be most visible in 2008. However, the pace of growth is unlikely to potrebkreditov impact, says Olga V. of the IC "Financial Bridge", adding that in III quarter of 2006, the amount of such loans, on average, increased by 35% (up to 123.8 billion rubles), compared with the same period last year.

Moscow Credit Bank offers loans for the production of Chinese automobiles

2008-03-13T23:01:00.000-07:00

Moscow Credit Bank offers loans for the production of Chinese automobiles

Since January 10, 2008 Moscow Credit Bank and the network of "salons" Irito offer a special program for the purchase of cars and trucks China Grate Wall, BYD, Hafei and FAW.

The programme is carried out loans in rubles and dollars for periods of up to 3 years. The rate on the loan is 14.5% per annum on passenger cars and 16% - for goods. The minimum initial contribution - 30% of the value of the car. The maximum value of the car - 900 thousand rubles / 35 thousand dollars. The lump commission on the loan is 7.5 thousand rubles / $ 300.

Insurance Risk "Motor" is not required, however, if you want a car can be insured at JSC "Russian insurance company," with "cars" Rates range from 6.5% of the value of the car.

What about call-center banks

2008-03-11T20:09:00.002-07:00

What about call-center banks

Call-center banks have difficulty coping with the barrage of calls within a period of heightened activity consumers. Only 32% of cases operatsionistki respond to a call within 20 seconds, the December data showed "Finist research company." The remaining 68% of the citizens have to wait for answers to a few minutes, if not perezvanivat again.

Study Finist "Company" and "Hot Line" examined the work of telephone services 49 largest banks in the market (the rating RBC) for the quality of care in the pre-period. The result revealed that in December of client calls wave swept banks, and those with difficulty it broke.

Only 32% of test calls (of almost 3 thousand) operatsionistkam managed to withstand the rule a "good tone" by responding to their customers within 20 seconds, 42% of the clients had to hang on the line for up to 90 seconds. In other cases waiting delayed by more than 90 seconds, that rarely stand up to the usual customer, who, according to statistics, most often casts the tube after 40-60 seconds expectations noted in the study.

Among the leaders were on the availability of Promsvyazbank, Investsberbank, Absolut Bank - in December, they were able to process 100% of the incoming calls to them, as well as GE Money Bank, Gazprombank, Alfa-Bank, VTB 24 and the "Children" - processed approximately 85-90% calls. Champion speed reception of calls within 20 seconds capital among banks became GE Money Bank, "Russian Standard", Citibank, Rusfinance Bank, the bank "Trust", "Renaissance Capital" among regional - FIA bank, "Express-Volga" and "North penalty."

The marked deterioration in comparison with the previous year and showed Zapsibkombank Sibacadembank. December outsiders study began BSGV, Sberbank and HCFB, Cibitoke quality of telephone service. In particular, after the long waiting in a call BSGV dropped in Sberbank tube removed after 90 seconds in HKF Bank, it was difficult to call because of the employment line.

In Sberbank did not agree with the assessments. "The methodology of the study is in question, because a few months ago a similar verification results were positive, but from the point of service increased call-center" - stated there.

As noted in the study, the main factors influencing the decline in the availability of telephone services, are high expectations in the queue length, employment lines (observed in the bank "Russian Standard", Transkreditbanka, Rusfinance Bank, the bank "Trust"), extreme voice menu (Citibank , "Renaissance Capital", Bank Credit Europe), as well as the dumping of calls (KMB-Bank, Sobinbank).

Banks will begin to re-engage in the DIS

2008-03-11T20:09:00.001-07:00

Banks will begin to re-engage in the DIS

Bashprombank, adopted on 5 March in the deposit insurance system (DIS), has become the first bank, which managed to return the license to attract deposits after the expiration of the two-year moratorium. Two years ago, he had not entered the deposit insurance system because of the requirements of the Central Bank of inconsistency.

Market participants have pointed out that this is the first case of successful realization of the right of banks attempt to enter the CERs. Experts predict a wave of applications for membership of the CERs from banks, which previously had been denied because of their unreliability.

The Committee of Banking Supervision of the Central Bank refused to join the deposit insurance system of some 300 banks. Ability to challenge the decision taken advantage of about 130 banks, the success of which ended with 10 attempts. Given that a significant number of the remaining 120 banks in the two years waiting lost licence banks seeking entry into CER, now have less than hundreds.

Specialists believe that the return of retail banks, there has not previously been admitted because of the high risks for investors, the risk of the banking system does not increase, but significantly improve the treatment of such banks as customers and potential investors.

We need normal market customers

2008-03-11T20:08:00.001-07:00

We need normal market customers

In 2006, investment managers block Industry and Construction Bank (PSB) was founded by a group of PSB-"Capital", which was later renamed the JSC "BFA Group." References bridge group, which includes investment and administering the company, as well as the pension fund, became Bank BFA. About how the companies will develop interaction group, the president Yevgeny LOTVINOV spoke in an interview with the newspaper "RBC daily".

- Today, the group includes BFA several companies who described themselves as strategic partners, shareholders and the general structures of the holding company have?

- Today, we are talking about companies that are combined through the boards of directors and have common principles of work. Strategically they are sufficiently independent. They have no common shareholders, there is a different business plans, and they are working with different segments of the market. If there were common shareholders, the institutional structure would be another, for example, there would be holding. In the future backbone of the financial group will speak Bank BFA, although to date it has probably the smallest size of the business to other companies-partners. Based on the bank system will be established to service our customers. The rest holding companies will each their own business.

- Are you satisfied dinamkoy development, which shows the bank?

- Yes. In a short period of time constituted a steady loan portfolio. Seriously expanded customer base. Bank went on self. A business plan for 3 years, which includes the development of office network. When we acquired Bank, it has not had a license to work with individuals. We now expect to receive, and will apply to the Central Bank to include us in the deposit insurance system. There are objective economic necessity, as our partners - is, first of all, riteylovye companies in the asset which more than 30 thousand clients. Plans for the bank opening 4-5 dopofisov in St. Petersburg.

- Upon receipt of the license as you will develop the service's next?

- Bank will sign an agreement with administering and investment companies and will be able to provide the entire range of services for private clients. First of all, this set of standard products: deposits, loans, sale of the units, contracting for brokerage services, the look optional part of pensions, and so on… No salt will be able to use "synthetic" products. For example, from the simple - loans on security of the units. Today, such services barely developed, because commercial banks and the company managers do not always affillirovany. Banks are not always clearly understand the structure of mutual funds and could not adequately assess the level of risk.

- A consumer credit will go?

- We will be very careful. All understand the reasons why Sberbank began to develop mortgage. A classic private banks - MDM, Alfa Bank - drawn into it unwillingly. In principle, long enough not considered this direction and PSB. Bank understood that go into retail - in the mortgage and auto - not because you want to lend to very low for a long period of time. We, for example, and now credits individuals (this allows us to license). In fact, we belong to this. We do not launch the credit and not stand at the crossroads of every signboard with "Cheap loans in the bank BFA." Going to the bank, you should see a queue of 500 people. The level of service should be such that the pleasure you receive.

- The bank has strongholds customers?

- We try to avoid the concentration of customers in several strongholds. Having a primary customer - is, of course, well: you just easy life. But it is great risks. The challenge, which is now before the bank - to find customers in the market lead from the street. In general, we need a normal market customers…

- What do you see the structure of the group after 3 years?

- We clearly know that the bond between them will be all the group companies, but how this issue is the construction. Will the creation of a financial group, the holding company, an association of shareholders, the establishment of external management company and a fund… Consultations are very active, but not fast. The rush is not what.

- So long as you are working on a completely independent mode?

- We have not been targets for the year to reform and consolidate what we have. The main goal was to enter the operating mode "preparedness".

- Who belongs UK PSB today?

- Now the company belongs to the 1 / 3 Bank VTB "Northwest" and 2 / 3 companies operating in the interests of management. When something UK was 100 - the percentage daughter Industry and Construction Bank. And at a time when the business development required an increase of the authorized capital, was brought strategic investor who bought 2 / 3. These strategic investor were present company shareholders. Then they were independent. But in the process of selection of the investment group BFA block Industry and Construction Bank been some changes. I got control of the UK group of individuals, which is the backbone of the management team. Personally, I am not a shareholder of the management company, but a UK Chairman of the Board of Directors.

- Business UK cost-effective?

- so now. Although the fledgling Governing unprofitable companies, as well as large sums of money allocated to advertising, promotion. This commission, which receives UK, the large number of participants is limited in the market. All dempinguyut, trying to grab their share. Accordingly, the average commission, which has the management company - 2-2,5% of the amount of net assets. I very content management company could not be immediately okupleno if it is, of course, no control over 35% of the Russian market.

- In the structure of your income is dominated by income from the investment business?

- Of course. I think that in many Russian commercial banks dominate investment income on commercial. When I see the banks interest margins between loan and deposit below 5%, it becomes ridiculous. I worked for several banks and know for sure that 5% do not provide managerial and administrative expenses and cost of maintaining the bank as a business Unit. That is either a bank operates at a loss, or has other sources of income. And in the investment business is not limited margin. Second, quite an important source of income, which we vigorously develop - commission income. This direction is in our investment company. In 2007, they demonstrated outstanding: IR "BFA" entered the top ten investment houses in Russia. Although we actually began to develop this area of business a year and a half ago. Today it is the only group company, which sounds at the federal level. In the structure of income BFA 75% - this commission income, that is nizkoriskovannogo, business.

- You no proposal to sell IC "BFA"?

- Her we monitor at 100%. IC 20% belongs to the group of BFA, where I am a shareholder, and the rest were in the share controlled by the companies. The company is controlled through management, and through a board of directors. U IR "BFA" established business processes, there is a business connection, and there is a fairly wide range of clients. When become visible on the client public turnover, market shares, as we will show at least 0.5% on the MICEX, the company will be attractive and interesting to buy. Now she had about 1000 workers brokerage accounts and high profitability. A year ago, when this part of the company's management partner, they were actually in a planned negative.

- In what would you rate the capitalization of the group BFA?

- I am afraid that this can not be done now, because it's an individual companies. If mechanically folded balances, the assets in the region to be a 20-25 billion rubles.

- "Petersburg leasing company" is no longer among your strategic partners?

- PLC - our good partner. While I did not add more smog. In the old life, we are very actively cooperated with them, and we were very good business relationship. They are credited in the bank and have the BFA accounts. If any of the bank's customers want to make lease, we can recommend to the PLC. At this level, we are cooperating very actively. As Kozma Prutkov wrote, "it is impossible" obyat immense, it is necessary to slow down from the mountain and direct order where necessary.

- Group interesting insurance market? Do not think added to the insurance company?

- Naturally, we are looking at that issue. But it is not engaged in any negotiations and not discussing specific conditions. Until we clean sheet of paper. Priority - Development Bank.

- How can you comment on the information that the money allocated to development BFA former owner PSB Vladimir Kogan?

- The credibility of this information, though remain on the conscience of the team in 2006 zhurnalistov.V investment managers block Industry and Construction Bank, headed by the Deputy Chairman of the Board Yevgeny Lotvinovym founded the group "PSB-Capital", which included UK PSB, the same name pension fund (NPF) , and Petrotrestbank investment company, which Lotvinov and at that time chairman of the board of directors is forecasting "Baltic Financial Agency" ( "IR" BFA) Dmitry Istyufeev bought from the construction group "Petrotrest." The group was created on the basis of assets, which are not included in the deal to acquire Bank of Petersburg VTB. Later brand of PSB Group agreed to relinquish the title of BFA. Today, Mr. Lotvinovu owned 22.84% stake in Bank of BFA, the 31.01% stake owned by Yuri and Vasily Trohin Dedow. Mr. Lotvinov BFA is the president of the group and chairs the board of directors of all companies of the group. In the coming years, Party going to be among the leading investdomov Russia.

Sergei Ignatyev raise refinancing

2008-03-10T21:10:00.001-07:00

Sergei Ignatyev raise refinancing

The head of the Central Bank Sergei Ignatyev will not even look towards colleagues from the USA Ben Bernanke, reduce rates

For the first time in the past ten years, the Bank of Russia raised the refinancing bid: from 4 February, it rose by 0.25% to 10.25%. Meanwhile, the Central Bank has changed the parameters of other rates, including rates on the auction repo, banks long ago called "untouchable", and part of tightened regulations reservation, including foreign loans. The actions of the Central Bank economists call "cosmetic" and not expect them says the claimed effect. However, probably, the Central Bank focused on other effects, including the political one. The growth rates showed investors that the head of the Central Bank Sergei Ignatyev support Vice-Premier Alexei Kudrin, in the fight to Russia as "an island of stability in the world financial crisis".

From today, the Bank of Russia increased to 0.25%, interest rates on all transactions relating to the provision of liquidity to commercial banks, as well as increased rates on deposits in the Central Bank. Moreover, grew reserve requirements: banks would have to deposit in the Central Bank greater than before, the proportion of its obligations to creditors and depositors. Decision chapter TSB Sergei Ignatieva raise it became very surprising for markets. In August 2007 central biggest economies the world except China, the rates lowered. Central Bank refinancing rate increased for the first time in almost a decade: June 29, 1998, it was increased from 60 to 80% per year and has since fallen to the last 10% of the value. At this level, it was established on June 19, 2007.

However, some other actions TSB balanced decisions. Since February 4, the so-called rate increase averaging to calculate the value of mandatory reserves. This would partly offset the removal of the banking system liquidity and the increasing cost of money. Previously, banks could at the daily repo auctions direct loan from the Central Bank of slightly more than 6% per annum, but now the same one-day loan would cost them a minimum of 6.25%.

The latter may be the most serious of decisions taken by the Central Bank. "So far repo rate was untouchable - Mikhail Galkin said of MDM Bank .- It is the tool - a key channel refinancing Russian banks in the Central Bank". He pointed out that this rate has not changed for more than four years, and compares the value of its federal funds rate by the Federal Reserve System. MDM was the only major bank, which analysts spoke of the growing likelihood of raising the key rate.

First зампред Bank of Russia Alexei Ulyukayev, "commenting agency Prime-Tass on Friday" by the decision of the board TSB, explained that the Central Bank believes control inflation its primary task and, accordingly, decides to implement it. According to him, if in the past years to combat inflation, the Central Bank used the ruble, it was now "objectively transmission mechanism, the role of interest rates". Mr. Ulyukayev expects that these measures will sterilizer effect by deleting part of the liquidity from the market, and in addition to that will reduce the rate of growth of money supply. MDM Bank representative suggested that the action Friday TSB "will lead to sales in ruble bonds, especially in the quality of release, which are sensitive to the Central Bank repo rate".

Most of the interviewees' "" Economists say that the changes are "cosmetic" serious and immediate impact on the market will fall. They call them "show of force", saying that this is "probably a signal of the seriousness of intentions to fight inflation than the actual mechanism to deal with the problem."

"If we just raised the standards of reservation, it would mean removal of liquidity from banks by about 77 billion rubles. Increasing returns averaging coefficient them about 55 billion rubles of liquidity, that is, the common saldirovannoe exemption will be 22 billion rubles, "- himself Alexei Ulyukayev said. Estimates of economists investbankov slightly higher - from 50-80 billion roubles (Anton Struchenevsky, "Troika Dialog"; Alexei Moiseyev, "Renaissance Capital") to 100 billion roubles (Yaroslav Lisovolik and Irina Lebedeva, Deutsche Bank).

Even the highest of these estimates is not meant dramatic seizure of liquidity - on Friday the value of the deposits in the Central Bank and korschetah exceeded 800 billion rubles. Analysts are uncertain and that the decisions could be seriously reduced the rate of growth of money supply (M2 aggregate): it has risen in 2007 by 48% to 13.27 trillion rubles.

In the Ministry of Finance, whose head Alexei Kudrin recently once again stressed that the Government and the Central Bank will use all means to fight inflation, comments from the formal surrender did not, although insightful commentary from the Bank of Russia avoided action. Director of the department of financial policy Ministry of Finance Alexei Savatyugin said " '": "Decisions of the Central Bank alone and takes from the government pursues an independent monetary policy." Meanwhile, in banking circles surprised by the Central Bank policies. Decision on the adoption of a package of orders says the growth rate has been adopted by the day after the closed meeting in Moscow boarding house "Bor" Alexei Ulyukayev acknowledged that the coming months can be expected deterioration of the situation with liquidity, and promised to support the banking system.

Uplift rates demonstrative TSB - a signal that the Bank of Russia is ready to worsen the situation of liquidity in the banking system for their own purposes. It should be noted, the growth rate for foreign loans backup Nor will reduce demand for loans outside Russia, but it is in keeping with statements by the Ministry of Finance on the need to limit the intake of large loans for the country.

Some economists talk about "inconsistencies" Action Securities. Yevgeny Nadorshin from the bank "Trust" expected "opposite action by the Central Bank". He recalled that raising rates - "an instrument of reducing economic activity", and concludes that the effect on the banking system will be negative. Other economists, such as Yaroslav Lisovolik, saw no inconsistency: they suggest that if the measures are "cosmetic" and demonstrative in nature, the loss or substantial liquidity, or the economic growth they do not cause. Moreover, raising the rates in the economy may even encourage the inflow of foreign capital, thereby simplifying the situation with liquidity.

Raise rates, ' "notes" can have unexpected effects foreign policy: CBR became one of the few central banks the world, increasing rates at a time when the United States Fed and the ECB to reduce. Perhaps raising the rates - an attempt to illustrate the thesis of the Bank of Russia Alexei Kudrin as an "island of stability" in the face of global financial turbulence. In doing so, monetary authorities of China in January, raising the stakes in the fight against overheating of the economy, are also stricter rules backup.

To struggle with the same inflation TSB will still remain on strengthening the ruble - the odds that it will remain essentially anti mechanism. That is the conclusion reached, in particular, of the New Economic School professor Konstantin Sonin. "For the Russian economy, all bets Central Bank in terms of the impact on the rate of growth of money supply are much less important than, for example, the rate for the economy of the United States Fed. Much more useful for reducing inflation, it would be the ruble, "- he says. Lissovolik predicts that in 2008, the ruble could strengthen to a basket of currency is not less than 2%, which is even stronger than last year.

Discuss scenario more radical revaluation, by 10-20%, economists still do not. While these actions could seriously derail the pace of inflation, the effects of such a shock potentially dangerous, not only economically, but also from a political point of view. However, if the parameters of the spring of 2008 world crisis in the financial system would be worse than expected, MOF, the Central Bank and the Government will discuss the most innovative solutions. At least TSB action last week showed its willingness to surprise the economy.

The election is over. What's next?

2008-03-10T00:08:00.005-07:00

The election is over. What's next?

March 2, the election for the post of President of the Russian Federation. While policies of all countries congratulated Medvedev with "confident of victory in the presidential election." Experts' advice not to take a new chapter "revolutionary steps", a simple bank depositors - trust rubles.

Sberbank microcredit learn from Nobel laureate

2008-03-10T00:08:00.003-07:00

Sberbank microcredit learn from Nobel laureate

Sberbank intends to micro-finance small business, experience ship Nobel laureate Muhammad Yunus of Bangladesh, the creator of bank loans in the 100-200 dollars. This was announced yesterday by President of the country's largest bank German Gref at a meeting with Vladimir Putin. Experts believe that the microcredit sector can be a "golden residential" for the Russian market, but doubt that it could be implemented without state support Sberbank.

DIA has found additional funds for banks

2008-03-10T00:08:00.001-07:00

DIA has found additional funds for banks

Since July Deposit Insurance Agency intends to reduce deductions banks in a bid deposit insurance fund from 0.13 to 0.10%. If the board of directors will support the proposed liberalization of ASV, the fees in the deposit insurance system, banks will be able to save billions of roubles. But experts fear that the desire to support the banking market in the period liquidity crisis itself can increase the risk of deposit insurance.

Municipal Mortgage Bank proposes to save on mortgage

2008-03-10T00:07:00.003-07:00

Municipal Mortgage Bank proposes to save on mortgage

Until the end of April 2008 Municipal Mortgage Bank implements current offer customers cheaper "Mortgage: Motion to collect"! This action is valid in all parts of the implementation of the Bank's programs. Under this proposal, customers that have signed a credit agreement with the bank until April 30 this year, receiving a package of discounts. First of all, this - discount from the bank to collect for issuing credit in the amount of 50% - 100% of the size of the collection.

Cash protection

2008-03-10T00:07:00.001-07:00

Cash protection

The leadership of the Russian Federation Ministry of Internal Affairs announced Thursday that is considering a ban on the extradition of citizens in the banks money are over 1 million rubles without armed escort. In MIA explained that the concern about citizens who have been abducted large sums of cash. Experts warn that such care restricts citizens' constitutional rights and therefore illegal.