Head of Svyaznoy Bank — RBC: "There were only two choices: the bad and the terrible"

Svyaznoy Bank is on the verge of license revocation. The head of the bank Yevgeny Davidovich told RBC, how he had been figting for survival of Svyaznoy for nearly a year.
Origin source

As of October 1, all three indicators of capital adequacy Messenger Bank fell below 2% - a level at which the Bank is legally obliged to withdraw from a credit institution license. Now standard N1.0 is 0.99%. This was told RBC a source familiar with the situation in "The Messenger", and confirmed the bank's press service.

Events leading up to the bank's collapse, began almost a year ago. The then owner of GC "The Messenger" Maxim marigolds unable to pay on loans. He was sent a notice of default on the debt, which acts as collateral for a controlling stake in the holding company of the group. When this became known, the Bank has experienced a real panic of depositors: the first day they took 3 billion rubles, and in November - 11 billion rubles..

Take possession of the bank businessman Oleg Malis showed no interest in the bank, while not even know the Central Bank, who is the new owner and with whom to engage in dialogue.

In March, the management wrote a letter to shareholders with a request to add to the capital of 5 billion rubles. - Or a bank violates the regulations of the Central Bank. The shareholders did not give money, and by April 1, the bank's capital adequacy ratio opusilsya to 9.19%.

The bank's management has estimated that if the shareholders do nothing, capital adequacy ratio will be reduced by 2 percentage points per month and in August breaks the critical level of 2%, in which the Central Bank is obliged to revoke the license. In March, the Central Bank and the Bank checked the Messenger concluded:. Bank needs additional capitalization of 5-6 billion rubles, wrote RBC earlier.

Last Messenger resource bank used in July, writing off the subordinated loans from the company and the owner Trellas Finprombanka Anatoly Goncharov. Loan had three totaling 1.64 billion rubles. They can be written off if the guidelines penetrate the critical level of 2%.

This action has helped the bank to improve the adequacy and core capital base to 3.16%. Marketing Director Coherent Bank Anton Holtzman then admitted to replenish the capital of nothing else. It remains the hope of shareholder support. However, the management of the bank Messenger turned to him with a letter in March and requested a bank capitalization of 5 billion rubles., Warning that otherwise there will be problems with compliance with Central Bank regulations.

Help did not come, and realized stsenario described in the bank statements for the year 2014. There's management wrote that expects to attract an investor who will be able to capitalize the bank at 8.3 billion rubles. Otherwise, "there is doubt" that the bank will be able to "continue as a going concern and to fulfill the obligations."

Now the bank is working check the DIA, two sources RBC does not rule out that a decision on the reorganization.

Coherent Bank Chairman Eugene Davidovich a year ago, when the bank started having problems, I decided, under any circumstances, not to leave him on his own initiative, "Put statement and leave it would be probably the easiest solution. From any situation, there are three choices: Sheremetyevo, Domodedovo and Vnukovo. But we have chosen four: just to be here every day and work, do what you can do. " Davidovich soberly assess the situation, but quiet, even ironic: "What do you expect to see here - rope and a piece of soap?"

The Messenger Bank at a Glance

Nearly 2.5 times, up to 30 billion rubles., Reduced the assets of the bank Messenger by Russian standardsNovember 2014 until September 1, 2015 th

143rd place in terms of assets the bank holds Messenger. In November 2014 he was part of the first hundred

At 7.3 times to 823 million rbl., For the same period reduced the bank's capital. The loan portfolio decreased by 2.2 times to 19.8 billion rubles.

98% of bank assets are loans to individuals 44% - overdue

5.3 billion rubles. It amounted to a loss of the bank in September 2015 against a profit of 315 million rubles. November 1, 2014

14.6 billion rubles. was the amount of retail deposits as of September 1, which is three times lower than November 1 of the previous year

99% of deposits, according to Eugene Davidovich, is covered by public insurance, that is not more than 1.4 million rubles.

"I ran the bank's main business"

- They say that your decision to remain in office and do not use one of the three outputs even employees of the Central Bank surprised.

- It was so. In the first week after the Christmas holidays of 2014 I had to be on medication, as I told one of the leaders of the Central Bank, which in December talked almost every day is not the most pleasant ofROSAM. I called him from abroad, described the current situation in the bank and reminded me that this week in the office will not be. When the seven days later the head of the Central Bank called me, he was surprised to find me in the workplace. And it floated out of his mouth: "This is amazing!"

- Did you work in a connected bank from the beginning, right?

- Yes, I came to the bank when it was not yet - 15 September 2009, joining a team of several people.

- Marigold you called?

- Yes, but before that we had just talked, probably five times. I was surprised at his suggestion, but at that time was looking for options to move from Kiev to Moscow, so delighted and agreed. In Ukraine, I was pretty well-known banker - Deputy predpravleniya UkrSibbank, which was later acquired by the French group BNP Paribas, and then headed the Ukrainian division "Russian Standard". So retail banking (and Marigold was going to create just the bank for individuals) was familiar to me firsthand.

I ran the bank's main business - card. Businessyl specific. The main product - a bank card, while a debit, with interest on the balance and the card, that is, the client provides a limit to which you can climb, run after their own funds. Moreover, this same card was tied contribution Safe. The Messenger Bank grew rapidly. In 2011, our retail business grew by hundreds of percent per month.

- This led to the fact that in November 2012 the Central Bank introduced the bank restriction on the acceptance of deposits.

- Yes, the first three months, then extended the injunction at the same rate. At this point, "The Messenger" in terms of deposits has become a 36-m (46,6 bln.) Among all banks. According to the Central Bank of prescription, the deposit base should not rise by more than 1% per month.

"Shareholders do not hide the fact that the bank is not included in the contours of his interests"

- And with that started a bank problem.

- I would say the first serious test. Business Plan "Coherent" is lined up on the basis of the rapid growth of credit business. Even after the injunction was lifted, the Central Bank has recommendedam doing business "more moderate". Regulator, apparently, felt that our business model can be unstable. Passive base we had not diversified, risk concentration is high, therefore, objectively speaking, the regulator has acted unreasonably.

90% of our asset portfolio held credit cards, that is, in fact, never-ending story: the borrower to repay the loan, has the right to take a new one. The social and macroeconomic factors impact on such a product is stronger than a conventional loan. In addition, we are very much dependent on the funds of depositors. Fortunately, we all knew it and free liquidity invested in securities, thereby obtaining the opportunity in time of crisis to return the funds to people. I mean the same ill-fated November 2014 th.

- When Marigold could not repay the loan, and he received a notice of default?

- We have worked in difficult conditions, we have experienced problems with the quality of the loan portfolio and understand what you need to capitalize the bank. November 10, one major issue [ "Kommersant" newspaper] releasedof this article. As a result, the bank experienced a panic of depositors: the first day they took 3 billion rubles for the whole of November the bank has lost 11 billion rubles..

- Marigold Why not promptly helped the bank?

- You know what? People get sick, and then recover. Maxim ill with this project. Although he is still actively helped us in November, continuing the search for investors, and found as a result of subordinated debt, which we have long held out. By mid-December we were able to stabilize the situation, the outflow of deposits ceased. But then because of the devaluation of the ruble Central Bank sharply raised its key rate - by 6.5 percentage points to 17%, and the news came a few days later that the businessman Oleg Malis Onexim bought debt that has served as a catalyst for additional bank problems. I had to use all the "subcutaneous fat" to cope with the situation, but avoid really difficult business phase already failed: it was necessary to introduce limits on cash withdrawals.

Every day I communicate with the Central Bank, something promised people, but it is well understood that there is no place to wait for help. Since the beginning of 2015, after the stock Confflict reached the peak, we did not expect any help from Maxim. Plus, it is necessary to understand the circumstances even if he had had the opportunity to help the bank finance, in a strange situation with their assets, he would not do that. A new shareholder of GC "The Messenger" does not hide the fact that he went to the bank to the load, and the first meeting did not conceal that the bank is not included in the contours of his interests, so that we are no longer waiting for help at all from anyone.

The only way to cure the bank - is a powerful injection in the form of a capital increase. And all the next 11 months, we knew it. Investments in the current macroeconomic situation was impossible to find, even though I have a lot to talk to. There were only two choices: bad and terrible. Bad - it sanitation, and, in fact, in the hope of the entire team in recent months and worked on it. Horrible - withdrawal of the license.

- Do you understand that there is no place to wait for help. Why did you stay?

- If we compare the bank with the ship, that is the rule that the captain left the ship last, although, in principle, history has known cases where the captains of sinking ships almost nrvymi boarded the boat. The most difficult thing was all this time to find for themselves the motivation to go to work every day and perform job duties, sometimes not really understanding why I own all this is necessary. However, some bank employees came and said: "Eugene, we will be with you until the end, we will not look for a job." Perhaps these words were the best motivator to be here in a difficult moment, because you can not fool the people's faith in you personally.

"As long as the patient is breathing - the doctor hopes"

- At one time, readjustment "Coherent" interested "Renaissance Credit", who even filed an application to the Federal Antimonopoly Service, but in September he gave up the idea. Why?

- I do not know. Decisions on the reorganization are not made in our bank, and other offices. Hypothetically, the decision on readjustment can be made now. As doctors say, while the patient is breathing - the doctor hopes.

- What did you do all these 11 months have done, except that went into the office?

- "The Messenger" until recently remained operational bankm, despite the closure of all offices, and ban the regulator to open accounts and deposit replenishment. There are still Collection, which collects debts, call-center, which serves clients taking 5-6 thous. Of calls per day, although of course it does not compare to the 30 th. Of calls at the peak of our development.

My main job was part of the team and the preservation of settlements with creditors. And something was possible. Nobody, for example, did not believe that we are in August to redeem the bonds, which in the winter is still trading at a discount of 65-70%. But we put out! And it turns out that those who risked, in August this risk paid off in full. The Messenger Bank also made a complex deal with Tinkoff Bank, sold it in several tranches portfolio of high-quality loans.

Although, frankly, I do not understand how the bank in November managed to stay alive for nearly a year. Bank violated one standard after another, and each time I thought that all this month and certainly the last. As a joke, we can say that, probably, in fact, since January this year we have done a great job, usually performed by the interim administration, which introduces the Central Bank to banks in a crisis. Maybe I vposletion of use to as a crisis manager, but seriously - it is silly to say that we did everything correctly, that the situation in which we now find ourselves led only external factors that all bad and we are good: so happens in my life.

Insurance case

From November 2014 until September 1, 2015 the assets of Coherent bank on Russian Accounting Standards declined by almost 2.5 times, up to 30 billion rubles., And Bank of the top hundred moved to the 143rd place. Capital for the same period decreased by 7.3 times, up to 823 million rubles. The loan portfolio decreased by 2.2 times to 19.8 billion rubles. 98% of bank assets are loans to individuals 44% - overdue. The loss of the bank amounted to 5.3 billion rubles. against a profit of 315 million rubles. November 1, 2014. Loss of the bank in accordance with IFRS for the first half of 2015 amounted to 3.3 billion rubles. The volume of retail deposits as of September 1 amounted to 14.6 billion rubles., Which is three times lower than November 1 last year. According to Eugene Davidovich, 99% of deposits covered by statutory health insurance, that is not more than 1.4 million rubles.