Russian banks accumulate losses in Ukraine

Mice cried, pricked, but continued to eat the cactus: the "daughters" of Sberbank and VTB are increasing losses in Ukraine.
Ukrainian subsidiaries of Russian banks, which are under sanctions, received in the first three quarters of 2018 a cumulative loss of 8.9 billion UAH (about 20.7 billion rubles). Thus, their financial result deteriorated by 40% compared with the result for the same period last year. However, if in 2017 the main loss was attributable to VEB's “daughter”, in this case it was Sberbank, which showed the worst financial result among Ukrainian banks.

According to the statements of Ukrainian banks in the first nine months of 2018, Sberbank and VTB received the greatest losses among all banks in the country. So, if for the first three quarters of 2017, the Ukrainian Sberbank managed to earn a small profit (0.1 billion UAH), then this year it received a loss of 7 billion UAH (16.2 billion rubles). VTB increased the size of the loss from 1.45 billion to 1.8 billion UAH (4.2 billion rubles). Prominvestbank (Vnesheconombank's subsidiary) reduced the loss from 4.9 billion to 0.1 billion UAH (0.23 billion rubles).

Sberbank, VTB and Prominvestbank came under the sanctions of Ukraine in March 2017. The parent structures of these banks immediately put them up for sale. Most investors were interested in the purchase of Sberbank, but the National Bank of Ukraine did not approve any candidacy of the buyer. VTB was the first to abandon this venture, and his “granddaughter” - BM Bank - informed clients about the termination of banking in Ukraine. Similarly, Vnesheconombank decided to curtail the activities of Prominvestbank.

The negative financial result of Sberbank is due solely to the formation of additional reserves for the loan portfolio, said Alexander Kalashnikov, director of the financial department of the IBI-Rating rating agency. “According to the results of the latest diagnostics of the quality of assets in the current year, the bank recognized additional losses on old problem loans,” explains Mr. Kalashnikov. ".

The expert noted that in January — September 2018, net operating income amounted to more than 2 billion UAH (4.6 billion rubles), which more than 2.3 times covers the administrative expenses of the institution. The press service of Sberbank, in turn, noted that the bulk of reserves was formed in the second quarter, and in the third quarter, the bank earned UAH 0.2 billion (RUB 0.42 billion).

VTB and Prominvestbank formed the bulk of reserves last year, so the negative financial result of these banks is now less. Despite the fact that Prominvestbank reflected only a small loss, unlike Sberbank, it is not able to generate profit, said Alexander Parashchy, head of analytical department at Concorde Capital. According to him, the interest income reflected by the bank in the amount of 1.3 billion UAH (3 billion rubles) is “paper”, and the bank received “live” money only half of this amount - 0.67 billion UAH (1.56 billion rubles). ). “In terms of cash flow, the bank spends more than it earns, and this difference for nine months amounted to 1.66 billion UAH (3.85 billion rubles),” notes Mr. Parashchy.

According to him, VTB has a similar situation: the bank collects almost no interest payments. “The current year’s figure is primarily due to the revaluation of individual assets within the framework of the optimization strategy implementation,” the VTB press service noted in the meantime. and staff. " The VEB press service did not respond to the request.

However, according to Mr. Parasy, the capital adequacy ratios of all three banks are higher than the regulatory minimum of 10% established in the country, namely: 20.56% for Sberbank, 15.06% for Prominvestbank and 13.35% for VTB. The first two banks do not need additional capitalization. “VTB has the worst situation with capital adequacy,” adds Alexander Parashchiy. “Another unprofitable quarter, and you will have to pour money into the bank.”