At the disposal of "Vedomosti" was the report of the audit company The EY (then - Ernst & Young) of the "Trust" state in mid-2009, when the shareholders 'Trust' held talks to merge with a subsidiary bank of "Rosneft" - Russian Regional Development Bank (RRDB ). The existence of such a document know two people, in 2009, working in one of the structures of "Rosneft" and "trust." Representatives of EY and "Rosneft" refused to comment on the report.
Its content sheds light on the true state of the bank. Compare the findings of auditors with bank statements it is not possible: reporting for the first half of 2009 the bank's website is not, give it "Trust" refused. From the comments of the bank representative also declined. The site "Trust" is located only annual report for 2009, which implies that the bank's auditor was KPMG (declined to comment, because it can not disclose information about the client).
Credit portfolio of "Trust" in mid-2009, according to the auditors The EY, was 65 billion rubles. after deduction of reserves, of which 60% of the portfolio (42.7 MHRd rub.) were issued to related parties. One of the contractors who worked at that time with the bank, confirmed that the related parties accounted for more than half of the "Trust" portfolio. Of these shareholders projects (Ilya Yurov - 30.7%, Sergey Belyaev - 23.1%, Nikolay Fetisov - 19.5%) accounted for 23.8 billion rubles, 8.5 billion still accounted for the restructuring of troubled loans issued to them. and 6.5 billion were issued friendly structures to maintain control standards, the auditors wrote EY.
In fact, the bank is grossly violating norms on lending to related parties - it is twice the capital of the bank (when it stood at 11.5 billion rubles.), Although such loans are limited to 25% of the capital. The bank's financial statements under IFRS for the year 2009 reflects the loans to related parties total 820 mln. Rubles, or 1.3% of the portfolio.
In July 2010, Fitch Ratings announced that concerned "the bank's continued lack of transparency of certain assets" and did not rule out that the loans granted to related parties, may occupy a much larger part of the portfolio. After that, the bank refused the agency's rating.
Nominal share of such transactionsIt has always been low, indicating a former employee of "Trust". Half of the credits granted to shareholders, was on real estate transactions and development projects should be of the EY report. Fitch notes that a third of the portfolio accounts for such transactions, and the agency is not enough information to know whether these transactions with owners of the bank.
Auditors pointed to dubious quality and bank capital. Subordinated loans allocated by the Bank to replenish capital, were "schematics»: TIB Investments shareholder received funds for subordinated instruments in the form of loans to the bank. From the scheme set out by auditors, it follows that the "Trust" issued interbank loan of 5.4 billion rubles. VTB Austria, which gave the same amount of TIB Investments, and in the end the money was issued to the bank as subordinated debt to replenish capital. VTB spokesman yesterday could not comment on it. Revealing this fact control "can lead to fines, denial of financing by the Central Bank, revocation of the license," it noted in the EY report.
The liquidity of the bank is mainly maintainingeh by the Central Bank (28% of funds raised) and savers (39%). The "Trust" was a gap between the maturities of assets and liabilities in almost all stages, from one day (a gap of 6.7 billion rubles.) And one year (46 billion rubles.), The EY auditors pointed out.
The financial result of the bank is directly dependent on one-time transactions - repurchase of Eurobonds, as well as the sale of land in Perm. The net loss of the bank in accordance with IFRS for the first half of 2009 amounted to 826 million rubles., And grew up to 2.3 billion, excluding the specified items.
Since that time, the bank's condition did not improve, says his former manager, who left the "Trust" about a year ago. Bank "on the brink", describing his condition, many counterparties.
Central Bank wanted to "Trust" heals on its own, the bank was made independent financial recovery plan, the project was in charge of banking regulation department director Vasily Pozdyshev, said a person close to the supervisory control unit. However, all the cards mixed up raid depositors who feared the growth of the key rate of the Central Bank and the fall of the ruble.e 3 billion rbl., that investors have learned from the bank, turned out to be critical, said deputy chairman Mikhail Sukhov, although it is less than 2% of deposits (144 billion).
On Monday, suddenly decided to sanitize the "Trust", the Central Bank has allocated to it 30 billion rubles., But bankers familiar with the situation in the bank, indicate that may require far more. Estimates of how much the value of assets may be less liabilities reach 50-60 billion rubles.
Until now, a hole of this magnitude was at the Industrial Bank - a third of the loan portfolio, or 56 billion rubles, is not served (data from the claim DIA to the leadership of the BCH) -. Or the Bank of Moscow, his third of the portfolio (. 360 billion rubles) was also associated with the previous leadership headed by Andrei Borodin, and a part of these loans is no longer maintained after the change of the bank's shareholders. "Temporary administration of the Agency for Deposit Insurance assesses the assets and liabilities of the bank" Trust ". Currently, additional comments considered it premature, "- said the press service of the Central Bank.
The Bank has never been profitable, but it is unlikely to have affected his state of flOperation shareholders recalls former manager of "Trust". "Error in the case of the" Trust "was the fact that a large number of retail loans were issued for a short time on a very saturated market, - he says. - Bank actually took "refuseniks" [who could not borrow from other banks], in 2010-2013. portfolio was formed, which brought only losses. Since the end of 2012 80% of new renditions of retail loans was the restructuring of troubled loans, losses repackaged in new issuance. " From 2009 to mid-2014 retail portfolio, "Trust" has grown from 18 billion to 118 billion rubles., And the corporate added only 43% to 58 billion.
In 2009, the "Trust" led Nadia Cherkasova (now - Member of the Board, "VTB 24"), which EY report chose not to comment. Phones Yurov and former predpravleniya Fedor Pospelov yesterday did not respond.
In 2009, 40% of shares of "Trust" were laid on the loan provided by Merrill Lynch, Credit Suisse and other companies a shareholder of the bank - JSC "UK" Trust ", wrote EY auditors. Press-service of "Trust" confirmand that such a loan was, however, already been repaid and the shares are not under encumbrance. Representatives of Bank of America Merrill Lynch and Credit Suisse at the request of "Sheets" have not responded.