FCS deemed the Khotins' bank unreliable

The FCS deprived the Khotins' bank of the right to issue bank guarantees for payment of customs duties. If Jugra's problems continue, it could lose the license of the Central Bank of the Russian Federation.
The Federal Customs Service has decided to suspend Jugra from the "guarantee of payment of customs duties and taxes for violation of mandatory standards." The reason was the rule of the "subject of mandatory regulations stipulated by the Russian legislation on banks and banking activities, all reporting dates during the last six months." The bank's clients fear that the FCS "turned off" Tatfondbank in a similar manner, which was nearly deprived of the license by the Centreal Bank, and, finally, subjected to rehabilitation. The worst thing is that the bank had an astronomical loss of 32.3 billion rubles last year. So, does it show that Jugra will have serious problems soon?

Recall that the bank is controlled by Alexey Khotin (52%), who, by the way, owns the asset through the Swiss company called Radamant Financial AG. Experts commenting on the decision of the FCS, say that Jugra has violated the so-called N6 ratio: the maximum risk on the related borrowers.

"Interest in the bank will decrease because of the legal entities engaged in the import, export, retail. Given the fact that Jugra in recent years paid special attention to attracting SMEs, the decision of the FCS puts an end to the bank's efforts, as in Russia more than 80% of small and medium-sized enterprises are in one way or another connected with the trade," notes expert Kirill Yakovenko.

Other expert, Dmitry Lukashev, says that after that the customers "will be looking for at least one more bank for settlement." But seriously, it is more convenient to change the bank, even as the expert didn't say that, trying not to aggravate the situation.

The Khotins didn't improve the situation

Back in mid-2016, after the Central Bank's checks, the regulator said that Jugra had "to improve asset quality and capital management." "The bank will have to asses additional provisions after the audit," said an anonymous source associated with the auditors. Incidentally, the reason for inspections was the information, according to which "25-30% of loans accounted for related parties." In human language: one-third of loans was given to shareholders and top managers by themselves.

Recall that in 2014, the auditors of the Central Bank "recorded numerous instances of questionable firms lending at interest rates of 5-8%, which is below the refinancing rate of the Bank of Russia. " And not surprisingly, most of these structures are controlled by both Khotins. In particular, OOO Linerichy. But back then the businessmen resisted the claims. 

Will the Khotins flee from Russia?

After the Central Bank checks, the Khotins' top managers, together with partners gathered at the November meeting in 2016 decided that in 2017 they would increase the authorized capital. Certainly not at the expense of their funds, but through the issuance of 22 million shares at 22 billion rubles. But now it seems that there are not many willing to go after such products. However, there have been some changes in the Central Bank since 2014. For example, certain Alexey Simanovsky, who had been considered to cover up the bankers, was dismissed by Elvira Nabiullina from the post of deputy chairman of the Central Bank. Elvira Sahpizadovna also kicked out the deputy head of the Deposit Insurance Agency, Andrey Melnikov, who was another informal patron of the Khotins. So the situation has changed dramatically.
After that there was Nabiullina's speech, which a number of experts said to have been addressed to the patronized banks. 

"To leave them (the banks) in the market is impossible, because the problem will only grow. If such a bank with holes and with improper credit policy, financing of unprofitable projects of its owners will continue to raise the funds of investors and businessmen, it will result in the harm for more investors and business, so you need to kick out such banks from the market," said Nabiullina.

They cannot remain

The Khotins were often involved in various scandals. For example, in the spring of 2013, Jugra grabbed the Moscow market of Gorbushka. Almost immediately after, Jugra "increased its authorized capital from 170 million to 6.17 billion rubles and performed a rebranding." In the autumn of the same year, the Khotins decided that with the help of an additional share issue they would raisethe  capital from 6.17 billion to 20.17 billion rubles.

How was it even possible for the people with such dubious reputation? The businessmen lured people through high interest rates. But after this, the capital of Jugra started to fall. What did the Khotins do? In 2014-2015, they "bought the Four Seasons Hotel in the restored premises of the famous building of the Moscow hotel using loans". 

Likewise, the bankers bought office spaces in Moscow via OOO Torgovaya Galereya, owned by Iolernico Investments. After it became known that the Khotins bought the entire building! In business circles, it said that the deal cost more than 10 billion rubles! Where did they get such funds? The evil tongues say that this is the money from Jugra. 

As they say, the Khotins via Gryzlon "could join the entourage of Elena Baturina (the wife of ex-mayor Luzhkov)". The Khotins seized the Moscow soap factory (MMZ). Later, they got hold of a group of companies "Igelsnab" and JSC "NTC" Commonwealth of the Interior Ministry. " The owner of "STC" Commonwealth of Ministry of Internal Affairs of the Russian Federation "(MVD veteran Dmitry Mikhailovsky) was held in custody for two years, trying to challenge the actions of the raiders. All was well, until recently.

But recently the Khotins transferred their assets into two companies, which appeared from nowhere: New Life Group and Sky Property. "There was an agreement of trust management features, according to which the New Life Group and Sky Property shall have the right to conduct any operations with real estate, up to its sale." In other words, if the Khotins are declared wanted, their property will not be arrested. Through these companies money can be withdrawn, for instance ... to Spain or any other country where the businessmen want to hide. Figuratively speaking, the Khotins are packing their bags.