About the fact that Promsvyazbank can get loans from other banks to the balance of up to 1 trillion rubles issued to enterprises of the defense industry complex, Russian Finance Minister Anton Siluanov told journalists on the sidelines of the Russian Investment Forum in Sochi. The transfer of assets will be accompanied by additional capitalization of the bank, he said.
"We envisage the transfer of this bank from the Central Bank to the Deposit Insurance Agency, and the DIA will give it to the Federal Property Agency," Siluanov said. "At the same time, the bank will have a normal capital adequacy and do not require any additional capitalization." The minister indicated that the transfer of assets of other banks related to enterprises that were included in the SDN (Specially Designated Nationals List, which presupposes the most restrictive restrictions) to Promsvyazbank should be accompanied by the transfer of capital.
On which form Promsvyazbank will receive capital and assets from other banks, Anton Siluanov did not tell. At the same time he noted that this will not affect the capital adequacy of those banks that transfer such loans, as well as the capitalization of Promsvyazbank. "We said that the capitalization that was carried out in a difficult period for banks, both from the Saving Bank and the government, we believe that part of this capitalization in the volume of transferred loans and assets can be transferred to the PSB," said the head The Ministry of Finance.
Defense Bank
This is the first announcement of the procedure for transferring assets to a future defense bank, and indicating the potential volume of assets transferred. Anton Siluanov announced on 19 January that Promsvyazbank was chosen as the main bank for operations on state defense order and large state contracts. RBC sources specified that the creation of the bank is necessary, among other things, to protect the activities of the largest Russian banks that are at risk of falling into US sanctions lists because of working with enterprises of the Russian defense industry.
Signed by US President Donald Trump in August 2017, the law on the expansion of anti-Russian sanctions (CAATSA) introduced a whole set of so-called secondary sanctions - measures against non-US persons cooperating with banned Russian sectors, projects and individuals. The US State Department included 39 Russian enterprises, concerns, organizations and departments in the list of enterprises whose operations are banned. Banks that have banned assistance since September 2017 are threatened with a ban on opening or maintaining correspondent accounts in the US, that is, in fact, isolation from the US dollar system.
On December 15, 2017, the Central Bank announced the reorganization of Promsvyazbank with direct participation of the Central Bank as an investor through the Banking Sector Consolidation Fund (FCSF). On the same day, a temporary administration was introduced into the bank controlled by Alexei and Dmitry Ananyev, represented by the Criminal Code of the FSSB. As noted by the Deputy Chairman of the Bank of Russia Vasily Pozdyshev, Promsvyazbank is sanitized according to the accelerated scheme, it will take up to six months to recover it. As part of the reorganization, Promsvyazbank's capital has reached a negative value - minus 134 million rubles. Therefore, on January 12, the authorized capital of the bank was written off to 1 ruble, the shares of controlling shareholders are diluted.
Who will transfer the assets
The banks authorized to work with the defense order as of November 1 included VTB, Sberbank, Rossiya bank, Gazprombank, St. Petersburg bank, Novikombank, RRDB, Rosselkhozbank.
On the intention to transfer the loan portfolio and servicing to Promsvyazbank, the enterprises of the defense industry, primarily those who fell under sanctions, the head of VTB Andrei Kostin told reporters on February 15 on the sidelines of the Russian Investment Forum in Sochi. "We will transfer after the bank appears. Now there, as I understand it, are the processes of sanation, there is still no head of the bank, "Andrei Kostin said (quoted by TASS). - As it appears - of course, this process will go. [VTB will give] the clients entirely, not only loans, but all services, settlements. A whole lot of customers are leaving with assets, with liabilities, with everything. "
Sberbank of Russia has not yet discussed the transfer of loans granted to companies of the defense industry complex (OPK) to Promsvyazbank, it is not going to transfer capital to it, Sberbank CEO German Gref said on Thursday.
RBC sources in state-owned banks noted that their structures carefully evaluate the prospects of transferring such portfolios, trying to minimize risks and not lose the revenue segment of the business. RBC expects banks' comments on the procedure for transferring defense assets to Promsvyazbank.
The Agency for Deposit Insurance in 2014-2015 allocated budget funds to participants in the program of additional capitalization through OFZ. Within its framework, 34 banks received 789.4 billion rubles. At the same time, the DIA performed the function of an agent, and the Bank of Russia and the government were engaged in the selection of banks for capitalization. Bank Otkrytie received within the state program 65.2 billion rubles. (taking into account the attached bank Petrocommerce), Binbank (including MDM Bank) - 17.8 billion rubles., Promsvyazbank - 29.9 billion rubles. Subsequently, these banks were sanitized, which was accompanied by a write-off of the funds allocated by the state for capitalization. However, the Ministry of Finance believed that the DIA should return these funds, and the past few months, worked through this issue. From the banks authorized to work with the state defense order, under this scheme, Bank Rossiya (10.84 billion rubles), Rosselkhozbank (68.8 billion rubles), Gazprombank (125.74 billion rubles) and Novikombank (7 , 2 billion rubles.)
What will be the defense bank
On the day of the announcement of the rehabilitation of Promsvyazbank, the Central Bank announced the amount of approximately 100-200 billion rubles needed for its capitalization. At the end of January, Reuters reported with reference to sources that the capital of Promsvyazbank is planned to increase due to the return of subordinated loans issued earlier by FC Opening and Binbank. The source of RBC, familiar with the discussion, confirmed this pattern.
Obtaining such a large portfolio of loans will increase the demand for Promsvyazbank in the capital by about 100 billion rubles, experts say. "It is likely that at the initial stage the bank will be capitalized to the level when it will be able to comply with the standards, and additional capital will be required to obtain loans from the enterprises of the defense industry," said Alexander Danilov, senior director of Fitch Ratings. - The Finance Ministry, the Central Bank and the DIA have recently agreed on a scheme to return OFZ, which is likely to go into the recapitalization of Promsvyazbank, made into the capital of FC Otkritie and BIN Bank, and the ownership will pass to the Federal Property Management Agency. "
Taking into account the above-mentioned maximum volume of loans to defense enterprises that can pass to the bank, it may need about 70-100 billion rubles. in the capital, suggests Alexander Danilov. "Whence it will be received, it is not yet clear," concludes the expert.
Now the assets of Promsvyazbank are about 1 trillion rubles, taking into account the transfer of its loan portfolio to the amount of 1 trillion rubles. the bank will correspond to the seventh place in terms of assets, which, according to Interfax CEA, is now held by the Moscow Credit Bank (assets of 1.82 trillion rubles). "If all announced plans are implemented, the PSB will be commensurate with Alfa Bank and IBC," says S & P analyst Ekaterina Marushkevich. - PSB assets will increase by 1.5 times as compared with the volume of assets before the renovation - to about 2 trillion rubles, and the loan portfolio will be 1.5 trillion rubles. " Prior to the start of the sanation procedure, PSB was the ninth largest asset (assets amounted to 1.3 trillion rubles).
"We envisage the transfer of this bank from the Central Bank to the Deposit Insurance Agency, and the DIA will give it to the Federal Property Agency," Siluanov said. "At the same time, the bank will have a normal capital adequacy and do not require any additional capitalization." The minister indicated that the transfer of assets of other banks related to enterprises that were included in the SDN (Specially Designated Nationals List, which presupposes the most restrictive restrictions) to Promsvyazbank should be accompanied by the transfer of capital.
On which form Promsvyazbank will receive capital and assets from other banks, Anton Siluanov did not tell. At the same time he noted that this will not affect the capital adequacy of those banks that transfer such loans, as well as the capitalization of Promsvyazbank. "We said that the capitalization that was carried out in a difficult period for banks, both from the Saving Bank and the government, we believe that part of this capitalization in the volume of transferred loans and assets can be transferred to the PSB," said the head The Ministry of Finance.
Defense Bank
This is the first announcement of the procedure for transferring assets to a future defense bank, and indicating the potential volume of assets transferred. Anton Siluanov announced on 19 January that Promsvyazbank was chosen as the main bank for operations on state defense order and large state contracts. RBC sources specified that the creation of the bank is necessary, among other things, to protect the activities of the largest Russian banks that are at risk of falling into US sanctions lists because of working with enterprises of the Russian defense industry.
Signed by US President Donald Trump in August 2017, the law on the expansion of anti-Russian sanctions (CAATSA) introduced a whole set of so-called secondary sanctions - measures against non-US persons cooperating with banned Russian sectors, projects and individuals. The US State Department included 39 Russian enterprises, concerns, organizations and departments in the list of enterprises whose operations are banned. Banks that have banned assistance since September 2017 are threatened with a ban on opening or maintaining correspondent accounts in the US, that is, in fact, isolation from the US dollar system.
On December 15, 2017, the Central Bank announced the reorganization of Promsvyazbank with direct participation of the Central Bank as an investor through the Banking Sector Consolidation Fund (FCSF). On the same day, a temporary administration was introduced into the bank controlled by Alexei and Dmitry Ananyev, represented by the Criminal Code of the FSSB. As noted by the Deputy Chairman of the Bank of Russia Vasily Pozdyshev, Promsvyazbank is sanitized according to the accelerated scheme, it will take up to six months to recover it. As part of the reorganization, Promsvyazbank's capital has reached a negative value - minus 134 million rubles. Therefore, on January 12, the authorized capital of the bank was written off to 1 ruble, the shares of controlling shareholders are diluted.
Who will transfer the assets
The banks authorized to work with the defense order as of November 1 included VTB, Sberbank, Rossiya bank, Gazprombank, St. Petersburg bank, Novikombank, RRDB, Rosselkhozbank.
On the intention to transfer the loan portfolio and servicing to Promsvyazbank, the enterprises of the defense industry, primarily those who fell under sanctions, the head of VTB Andrei Kostin told reporters on February 15 on the sidelines of the Russian Investment Forum in Sochi. "We will transfer after the bank appears. Now there, as I understand it, are the processes of sanation, there is still no head of the bank, "Andrei Kostin said (quoted by TASS). - As it appears - of course, this process will go. [VTB will give] the clients entirely, not only loans, but all services, settlements. A whole lot of customers are leaving with assets, with liabilities, with everything. "
Sberbank of Russia has not yet discussed the transfer of loans granted to companies of the defense industry complex (OPK) to Promsvyazbank, it is not going to transfer capital to it, Sberbank CEO German Gref said on Thursday.
RBC sources in state-owned banks noted that their structures carefully evaluate the prospects of transferring such portfolios, trying to minimize risks and not lose the revenue segment of the business. RBC expects banks' comments on the procedure for transferring defense assets to Promsvyazbank.
The Agency for Deposit Insurance in 2014-2015 allocated budget funds to participants in the program of additional capitalization through OFZ. Within its framework, 34 banks received 789.4 billion rubles. At the same time, the DIA performed the function of an agent, and the Bank of Russia and the government were engaged in the selection of banks for capitalization. Bank Otkrytie received within the state program 65.2 billion rubles. (taking into account the attached bank Petrocommerce), Binbank (including MDM Bank) - 17.8 billion rubles., Promsvyazbank - 29.9 billion rubles. Subsequently, these banks were sanitized, which was accompanied by a write-off of the funds allocated by the state for capitalization. However, the Ministry of Finance believed that the DIA should return these funds, and the past few months, worked through this issue. From the banks authorized to work with the state defense order, under this scheme, Bank Rossiya (10.84 billion rubles), Rosselkhozbank (68.8 billion rubles), Gazprombank (125.74 billion rubles) and Novikombank (7 , 2 billion rubles.)
What will be the defense bank
On the day of the announcement of the rehabilitation of Promsvyazbank, the Central Bank announced the amount of approximately 100-200 billion rubles needed for its capitalization. At the end of January, Reuters reported with reference to sources that the capital of Promsvyazbank is planned to increase due to the return of subordinated loans issued earlier by FC Opening and Binbank. The source of RBC, familiar with the discussion, confirmed this pattern.
Obtaining such a large portfolio of loans will increase the demand for Promsvyazbank in the capital by about 100 billion rubles, experts say. "It is likely that at the initial stage the bank will be capitalized to the level when it will be able to comply with the standards, and additional capital will be required to obtain loans from the enterprises of the defense industry," said Alexander Danilov, senior director of Fitch Ratings. - The Finance Ministry, the Central Bank and the DIA have recently agreed on a scheme to return OFZ, which is likely to go into the recapitalization of Promsvyazbank, made into the capital of FC Otkritie and BIN Bank, and the ownership will pass to the Federal Property Management Agency. "
Taking into account the above-mentioned maximum volume of loans to defense enterprises that can pass to the bank, it may need about 70-100 billion rubles. in the capital, suggests Alexander Danilov. "Whence it will be received, it is not yet clear," concludes the expert.
Now the assets of Promsvyazbank are about 1 trillion rubles, taking into account the transfer of its loan portfolio to the amount of 1 trillion rubles. the bank will correspond to the seventh place in terms of assets, which, according to Interfax CEA, is now held by the Moscow Credit Bank (assets of 1.82 trillion rubles). "If all announced plans are implemented, the PSB will be commensurate with Alfa Bank and IBC," says S & P analyst Ekaterina Marushkevich. - PSB assets will increase by 1.5 times as compared with the volume of assets before the renovation - to about 2 trillion rubles, and the loan portfolio will be 1.5 trillion rubles. " Prior to the start of the sanation procedure, PSB was the ninth largest asset (assets amounted to 1.3 trillion rubles).
Officials
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