The Central Bank announced that "Putin's friend" will rescue Uralsib

The Bank of Russia announced the reorganization of Uralsib. Vladimir Kogan, a private investor, called the "friend of Putin" by the media, will rescue the bank. 
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Investors took the risk

The fact that an investor is found for the financial rehabilitation of the bank "Uralsib", the Bank of Russia said on Wednesday morning. "As a result of the investor selection Agency to participate in the activities of the bank bankruptcy prevention the most favorable financial conditions have been proposed by Russian businessman Vladimir Igorevich Kogan," - said the Central Bank reported.

In a press release, "Uralsib" said that Kogan will acquire 82% shares of the bank, Nikolai Tsvetkov retain a minority stake. Deposit Insurance Agency will provide assistance in the amount, "sufficient for the functioning of the bank." In a press release of DIA reported that the bank will receive credits for 81 billion rubles. - 14 billion rubles. for six years and 67 billion rubles. ten years.

Deputy Chairman of the Central Bank of Mikhail Sukhov explained RBC that the bank "Uralsib" needed additional capitalization, its owner Nikolai Tsvetkov in the past year contributed to the Bank's assets and money of 20 billion rubles., But it was not enough, and investors, with whom he negotiated Tsvetkov, not ready We were on market conditions without the aid of investment regulatoracce in the "Uralsib". "The Bank of Russia is constantly supervised activities to improve the bank's financial condition and the stage of exhaustion financial capacity Tsvetkov decided on bringing the DIA," - said Sukhov.

He also noted that the bank's capital requirements of the Central Bank estimated at 44 billion rubles., Which is equivalent to the economic value of granted loan of 67 billion rubles. "It is not accurate to characterize this figure standard" hole "term, because we have established exclusive economic factors associated with the loss of value of assets", - said Sukhov.

He clarified that the DIA participation plan to prevent bankruptcy "Uralsib" does not imply that the private investor simultaneously allocates funds for its reorganization, as it makes itself DIA. "But if further work would require bank financing, then it is investor concern: the state has given him the means, and he took over the economic risk associated with the Bank's work. The "Uralsib" no such assets that are in fact available, there are loan portfolios, the quality of which mozhet like deteriorate, and get better, "- said Sukhov.

A good choice

Deputy Director of the "Financial Institutions Ratings» Standard & Poor`s Sergey Voronenko difficult to assess whether the allocated amount will be enough, citing a lack of data on the possible additional claims against the bank by the regulator.

According to a source close to Vladimir Kogan, management "Uralsib" will team BFA Bank, whose beneficiary is the son of the investor. A source in the BFA confirmed this information.

Yesterday, several interlocutors told RBC that Kogan has offered the best conditions and will take on the recovery, "Uralsib". Press-service of the bank on Tuesday evening confirmed the fact of negotiations with the investor, but denied that it is a financial recovery.

Several banks took part in the competition, in particular, VTB 24 and Alfa-Bank. VTB press service confirmed the fact that VTB24 submitted documents for participation in the competition. "We abandoned the transaction at an earlier stage, as a conservative estimate andktivy Bank and the proposed structure of the deal we did not suit, "- said RBC's press service of Alfa Bank, without specifying details of the negotiations.

The head of "Russian capital" Mikhail Kuzovlev said the decision to transfer "Uralsib" Kogan "right and the market." "This confirms the approach of the Central Bank that banks should sanitize commercial investors. Kogan - a good choice. He has a successful experience in the banking industry. As far as I know, he was looking for an opportunity to return to the banking market. Including negotiated with the founder of the bank "Revival" Dmitry Orlov, but the parties did not agree on price. "

In 2011, Cohen was negotiating with the founder of the bank "Revival" Dmitry Orlov and shareholder Otar Margania purchase of their shares (Orlov and Margania controlled 54.1% of the bank), but the deal never took place.

According to Forbes, Vladimir Kogan in the early 1990s created the St. Petersburg company, trade in clothes, computers, cars. Subsequently, he became the owner of the St. Petersburg ICB, 75% of which in 2004-2005, together with a partnerDavid Traktovenko sold VTB. Twice he came to power. From 2005 to 2011, he oversaw the construction of protective structures against flooding in St. Petersburg (Rosstroy, Ministry of Regional Development). In 2012 he returned to the government: from July to December was led by Ministry of Construction and Regional Development Deputy Minister. At present, Kogan is the largest shareholder of the company "Neftegazindustriya", which owns the refinery Afipsky.

Recapitalization does not help

The problems in the "Uralsib" bank became known at the beginning of the year. Central Bank Audit by him, revealed nedonachislennye reserves by 9.9 billion rubles., RBC reported previously the bank's press service reported. Sergey Voronenko noted that in January and February, the bank deposited capital by issuing subordinated bonds for $ 77.3 million and reissuing a subordinated loan of $ 71.6 million, issued earlier "related party" in perpetual debt. At the same time Voronenko pointed out that the problem with the capital "Uralsib" these were not resolved.

In August, the main shareholder of "Uralsib" Nikolai Tsvetkov joined the capital of the bank nand 15.2 billion rubles. money, land and real estate. Total in 2015, he contributed to the capital of the bank 17.6 billion rubles., Not including write-off of the subordinated loan at the beginning of the year. After all these steps, the bank's capital is 42.2 billion rubles. (September 1). The volume of reserves for possible losses -. RUB 35.6 billion, previously reported the press service of the RBC "Uralsib".

In the first half of October, the Bank of Russia with the participation of the Deposit Insurance Agency (DIA) conducted an inspection of "Uralsib" bank. "The purpose of verification is to assess the completeness and timeliness of the execution of the bank previously issued recommendations", - explained the press service of the bank "Uralsib". "The controller, in particular, checks, how was the recent recapitalization of the bank", - said a source close to "Uralsib".

'Additional capitalization enabled the bank to increase the level of reserves on the part of the loan portfolio is good. However, on the balance sheet remains a considerable amount of assets that we consider problematic, - explained the analyst of international rating agency Fitch Roman Kornev, considering that not all of the bank's problems are solved. - In addition, thereennaya part of the new capital came to the bank in the form of real estate, which increases the total amount of non-core assets and reduce the quality of the bank's capital. "

October 20 Fitch downgraded the long-term rating in foreign currency issuer default on the obligations of the bank "Uralsib" with B to B- and placed on review for possible downgrade.

As noted in the press release agency, in January next year, capital adequacy ratio of the first level of "Uralsib" may be reduced from the current 6.8 to 4.8% (set by the Central Bank at least 5%) in the three events. Firstly, every year the bank deducts from the regulatory capital base figure of 20% of their investments in SG "Uralsib". Secondly, it is likely that "Uralsib" will have to create reserves in the amount of 12% of the capital impairment convertible bonds leasing subsidiary. As a result, the bank will face a risk of violation of the norm of capital adequacy of the first level, if you will not be additionally capitalized, indicated by Fitch.

In early July it was reported that the FAS granted the petition of concern "Rossium & raquo; Roman Avdeev, who owns Credit Bank of Moscow, to purchase 100% of shares of OOO "Financial Corporation" NIKOIL "and 85.98% of the voting shares of FC" Uralsib ". The approval also applies to other structures corporation Nikolai Tsvetkov - JSC "Uralsib", ZAO "UK" Uralsib ", LLC" URALSIB Capital - Financial Services ", JSC" SPC "Uralsib", LLC "Leasing Company" Uralsib "and LLC" Uralsib Capital ".