Russian banks are in debt

The losses of the Bank of Russia's previously consolidating bank sector were closer to 1.6 trillion rubles. The Central Bank plans to rake these "Augean stables" at their own expense for 3-4 years.
04.05.2018
RBC
Origin source
The net loss of banks that sanitize with the participation of the Banking Sector Consolidation Fund (FCCC) in 2017 amounted to almost 1.6 trillion rubles. According to their consolidated financial statements, which are publicly available.

For example, Bank Otkrytie recorded net losses under IFRS for 2017 at 426.8 billion rubles., Included in it "Trust" - at 146.6 billion rubles., Promsvyazbank. - 405.6 billion rubles., Binbank and Growth Bank - 8.85 billion rubles. and 605.7 billion rubles. respectively. Thus, the losses of rehabilitated banks with the participation of the FCS exceeded 1.593 trillion rubles.

Basically, the reason for the losses of sanitized banks in their statements is the growth of expenses for provisions for depreciation of loans and other assets.

In early April, the Bank of Russia announced that it expects to increase the cost of the three rehabilitated banks by three and a half times in 3-4 years. Also, the regulator intends to return 40-60% of the funds allocated to buy out their distressed assets. At that time, according to the Central Bank, the shares of FC Otkritie, Binbank and Promsvyazbank did not cost more than 400-450 billion rubles. According to the calculations of the regulator, after three or four years they should start generating profits and increase their capitalization to at least 600 billion rubles.


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