In June, FC Otkrytiye lost more than 100 billion rubles of deposits

Basically, the state-owned companies left the bank. 
From the bank "FC Opening" took 105.8 billion rubles. With corporate time deposits in June this year, follows from the reporting of the credit institution. The most part - 72.5% of the funds - was taken away by state structures.

This is almost 76.6 billion rubles., Follows from the bank's accounts. From current and urgent accounts, legal entities in aggregate withdrew 7.7% of funds, or 88.4 billion rubles. Of this amount, 57.3 billion rubles. - money companies with state participation.

A similar amount (57 billion rubles.) Came to FC Otkritie in April 2017, the money was placed for a period of up to 90 days, follows from the bank's RAS reports, recalls the vice-president of Moody's agency Pyotr Paklin, And the client or group of clients took their money. In total, the bank's liabilities (as well as assets) declined in June by 116.7 billion rubles, which is about 5% of their value a month earlier.

International rating agency S & P at the end of May 2017 lowered the rating of the bank "FC Otkrytie" by one step - from the level of BB- to B +. The issuer is solvent, but its ability to extinguish debts is largely influenced by economic conditions, the agency explained. The decrease is connected with the growth of risks of the whole Otkritie group, where the bank is the main asset, and the risks grew due to merger with Rosgosstrakh, S & P writes.

In early July, the bank received an ACBA rating at BBB- with a stable outlook, as long as it is the lowest of all ratings assigned to ACRA by banks, according to agency materials. Low rating limits the "Opening" attraction of budget money and "Rosvoenipoteka."

The outflow of funds of state companies can be associated with low ratings, agrees the director of bank ratings of the agency "Expert RA" Yuri Belikov. Large state structures may have their own internal requirements that are tougher than formal ones, and expert comments on this issue create an additional negative background, which entails increased risks for the stability of the client base of the bank, Belikov continues: state structures could react and withdraw funds without waiting for the risks to be realized .

Bank Otkritie FC also reduced interbank lending and reverse repo deals: in six months, they decreased by 102 billion to 609 billion rubles. The repo with the Central Bank declined by two orders - from 366 billion to 5 billion rubles. Belikov continues: the bank started closing such deals last year. Then the portfolio of repurchase transactions decreased by 623.2 billion rubles., Follows from the bank's accounts, the balance left 970.5 billion rubles.

With money from the Central Bank

In 2015, FC Otkritie purchased 74% of the issue of Russia-30 Eurobonds through reverse repurchase agreements and money from the Central Bank. Then the book value of securities amounted to 832 billion rubles, and the bank's assets increased to 3.3 trillion rubles.

Formally, this means that FC Otkritie does not have a strong liquidity requirement, but if the outflow of legal entities continues, the bank can return to interbank loans and repo deals with the Central Bank, warns Belikov. The balance of the bank still left about 250 billion rubles. State money: 133.3 billion rubles. State-owned companies on time accounts, current - 10.7 billion rubles, another 58.2 billion rubles. - deposits of the subjects of the Federation, 26 billion rubles. - funds of off-budget funds and 20 billion rubles. - The money of the Federal Treasury. The portfolio of securities and highly liquid assets will be enough for the bank to lay it and fully pay off with state-owned companies, without experiencing a liquidity deficit and without violating the standards, Belikov is sure.

By the end of June, the portfolio had bonds worth more than 200 billion rubles. The director of the group of bank ratings AKRA Alexander Proklov agreed.

The bank has formed a liquidity reserve in the period of negative economic conjuncture and closing of deposits of legal entities is due solely to the bank's work on reducing excess liquidity and optimizing the cost of funding, Evgeny Dankevich told the "Vedomosti" through the bank's pre-management press service. How expensive was the funding for the bank, the press service refused to answer.

In June, FC Otkritie Bank refunded funds to customers who, since July 14, can not place money in the bank due to the cancellation of international ratings, the report said. In total, this is 3-4% of the passive portfolio, so the return of this money does not pose any risk to the bank's liquidity. Taking into account the return of these funds, the N2 instant liquidity ratio for June totaled 105% (the minimum allowed was 15%), while the current liquidity ratio Н3 was 177% (at least 50%).