The financial recovery of the bank "Soviet", which lasted almost three years, has ended ingloriously. The Central Bank realized that it is cheaper to return all funds to bank customers and to deprive the bank of a license than to continue the sanation. Unsuccessful attempt to improve the bank was expensive. If the Soviets had withdrawn the license in 2015, the costs for payments to the bank's clients would have been 1.5-2 times lower.
The Bank of Russia on Tuesday decided to revoke the license from the bank "Soviet". At the same time, the regulator launched a mechanism for settling liabilities to the bank's creditors. Thus, unlike the usual license revocation, when individuals and individual entrepreneurs (IPs) can only count on the return of funds through the Deposit Insurance Agency (DIA) within 1.4 million rubles, obligations to the clients of the "Soviet" will be transferred another financial institution - physical persons and entrepreneurs will receive their funds in full (including over 1.4 million rubles). As for the creditors of the third stage, they were less fortunate - settlements with them will be conducted following the bank's bankruptcy. However, the Central Bank said that he had been working with legal entities on the withdrawal of their funds to other lending institutions. As a result, only those legal entities remained in the bank, which could not close accounts in this bank, but the volume of creditors of the third stage, except for the DIA, was only 0.1 billion rubles.
The bank, which will pay off the debts of the "Soviet", will be determined based on the results of the competition. In total, according to the Central Bank, he will have to pay off obligations to 37 billion rubles.
This amount corresponds to the volume of funds of individuals in the bank, according to the latest accounts. In return, the winner of the competition will receive the property of the "Soviet". However, since the Soviets have very few good assets, the Central Bank decided to grant a five-year deposit of 34.2 billion rubles. AVB-Bank (it gets to the Fund of Problem Assets), which in its turn for this money bought back the troubled assets of the "Soviet". Thus, the winner of the competition will receive the property of the "Soviet" in the form of cash in the amount of 34.2 billion rubles. and other liquid assets of the bank in the amount of 2.8 billion rubles.
Bank "Soviet" on June 1, 2018 occupied the 111th place in terms of assets. For the first time, the Central Bank introduced an interim administration to this credit institution in October 2015. Temporary sanatorium was appointed bank "Russian capital". In March 2016 Tatfondbank won a competition for financial recovery of the "Soviet", after which the Central Bank had to revoke the license one year later. In the bank "Soviet" in late February 2017 was introduced temporary administration of the Criminal Code of the Fund for the Consolidation of the Banking Sector (FCS).
The refusal to rehabilitate Sovets in favor of revoking the license in the press service of the Central Bank was explained by the fact that further implementation of measures to prevent the bankruptcy of the bank was "highly costly and could not lead to the desired result." It is noteworthy that in the fall of 2015 the amount of people's funds in the "Soviet" was about 21 billion rubles. After the introduction of the provisional administration, a hole in the amount of 1.7-1.8 billion rubles was opened in the bank. However, during the reorganization, Sovietskiy granted credits to the Tatfondbank group for 18.6 billion rubles. Tatfondbank lost its license and could not return the loan funds. The temporary administration in the person of the MC FKBS created 100-percent reserves for this inter-bank loan, has created reserves for loans to legal entities and individuals. As a result, the hole in the bank exceeded 40 billion rubles. At the same time, during the sanation period, the deposits of natural persons increased 1.8 times.
It is not necessary to expect that the Fund for Problem Assets will return a deposit in the amount of 34.2 billion rubles. The statistics of the recovery of problem corporate loans in Russia is 10-15% (see "Kommersant" on April 3). In addition, the bank has a loan of DIA in the amount of 10.8 billion rubles. The agency's claims as a creditor of the third stage, according to its statistics for 2017, can be satisfied only by 14%. Accordingly, even if it will be possible to return 6-7 billion rubles, the final losses of the Central Bank may amount to about 38 billion rubles. This amount is 1.5-2 times more than the amount that would have been required in the event of a revocation of the license from Sovetsk in 2015.
Experts consider the decision of the Central Bank to deprive the "Soviet" license a logical step. Senior Director of the banking analytical group Fitch Ratings Alexander Danilov notes that the decision of the Central Bank "indicates that there is almost no normal assets in the bank, it is easier or cheaper to close the bank". The decision to pay off almost all customers can be due to the fact that since February 2018, "Soviet" was under the control of the MC FCCC. "If, after that, his license was revoked without a settlement of obligations, then a new mechanism of reorganization in insolvency could arise," said Yury Belikov, the leading expert in Expert RA.