Rosselkhozbank is short of 40 billion rubles

As of August 1, 2018, the bank has accumulated 248 billion rubles of overdue loans from a 2.2 trillion loan portfolio.
The need for Rosselkhozbank (RSHB) in the capital - at least 40 billion rubles., Is the assessment of the Central Bank, a federal official and a person who knows this from the Central Bank told Vedomosti: interdepartmental discussions are underway, how to provide capital and how much to RSHB. According to them, the Central Bank would like the RSHB to be capitalized on this amount by the end of the year.

This year, the RSHB has already replenished its capital by 15 billion rubles. through perpetual subordinated bonds. Another 5 billion will be given additional emission, money is allocated from the budget.

RSHB needs 30 billion rubles. capital, said in May the deputy chairman of the board Cyril Levin. The remaining 10 billion bank hopes to receive from the state, he said: "10 billion rubles. - not such a large figure. "

At a teleconference on Wednesday, Levin did not answer whether the state would allocate these 10 billion, but did not rule out that the bank would place perpetual subordinated bonds. The state will allocate not 10 billion from the budget, but another 5 billion rubles, two federal officials know.

But it is necessary to solve the issue of an additional 40 billion rubles.

The representative of the RSHB does not comment on the topic: the shareholder decides to increase the authorized capital. Rosimushchestvo (owns 100% of ordinary shares), the Central Bank and the Ministry of Agriculture did not respond. The representative of the Ministry of Finance redirected the issue to the Ministry of Agriculture.

As of August 1, the capital of the RSHB under RAS reached 426 billion rubles. The bank fulfills the standards with a margin even taking into account the increase from January 1, 2019, mark-ups to the standards. As of August 1, the standard of the basic capital of the RSHB was 9.1% (since January the bank needs 8%), the main one - 10% (9.5%), the general - 13.9% (11.5%).

As of August 1, according to RAS, RSHB had 248 billion overdue loans, under which the bank created 143 billion rubles. reserves. The rules allow to form the actual reserve less than the estimated reserve - at the expense of collateral, says analyst of the National Rating Agency Karina Artemyev: if there is a mortgage that meets the requirements under the loan. Most likely, the capital of the RSHB is not needed to raise the reserves on old loans already reported in the accounts as overdue, but to reclassify a new group of assets, she believes.

In the IFRS accounts as of June 30, the RSHB had 348 billion rubles. loans, which are expected losses, the entire loan portfolio - 2.2 trillion rubles. Since this year, banks have moved to new IFRSs, which require a more rigorous approach to assessing loans and creating reserves, and the capital of the RSHB decreased from 190.5 billion to 118.6 billion rubles.

The RSBB has fairly good RAS financials, namely, the Central Bank looks at it, the bank fulfills its standards with reserve, says Yury Belikov, a leading expert at Expert RA, most likely, capital is needed to expand business, for example, to new financing programs.

ACRA analyst Alexander Proklov points out that without state support, the bank will have to restrain the growth of assets.