Ukraine and the Olympics
On Thursday, April 30, Vnesheconombank has published IFRS financial statements for 2014. As a result, the bank received a record net loss of 249.7 billion rubles (against a profit of 8.5 billion rubles. In 2013). The last time the company showed a loss of 81.3 billion rubles. in 2008. Preliminary evaluation of the results of this year are optimistic. "At the end of 2014, the net loss under IFRS, according to preliminary data, amounted to about 140 billion rubles.", - He told reporters at the end of March, the head of VEB Vladimir Dmitriev.
The main reason for the loss of steel expenditure on creation of reserves, the lion's share of which came in the Ukrainian assets of the bank and loans to the realization of the Olympic project, told reporters at a briefing First Deputy Chairman of the Board of Vnesheconombank Mikhail Poluboyarinov.
By the end of 2014 the bank's reserves increased by 2.5 times - up to 326.1 billion rubles. Poluboyarinov said that most of the reserves were in the Ukrainian assets, but declined to specify a specific amount. "There's a real problem, it's a force majeure situation, and it has become especially clear in late 2014. There is a difference between the plantWhich is not quite time to repay loans, but it works, and the plant, which is in the open field bombed. " He was supported by deputy chairman of VEB Sergey Lykov, "Look at steel companies -" Industrial Union of Donbass "," Zaporizhstal "- listed Lykov.
Reserve ratio on the VEB loan portfolio for the year rose from 13.6% to 18.2%. Delay doubled. He grew up and the amount of restructured loans. Cost of risk (ratio of the volume of reserves to the average portfolio) in the end was 17.2%.
In 2015, the corporation is also unlikely to avoid losses, but plans to reduce them by half, he said in late March Dmitriev. The rate of provisioning in the first quarter declined significantly, said Lykov, agreeing that a profit this year, the bank is unlikely to.
"Bank worked well"
Large state-owned banks have significantly reduced the profit for the previous year. The net profit of Sberbank decreased by 20% to 290.3 billion rubles., Profit VTB decreased 125 times, up to 800 million rubles., Gazprombank and Rosselkhozbank incurred a loss of 13.7 billion rubles. and 47.9 mlpg rubles. respectively. VEB wants to avoid comparisons with them, his main goal is not to maximize profits, stressed Poluboyarinov.
Lykov sure that in general, the bank has worked very well: the credit portfolio increased by 796 billion rubles. (43.1%), to 2.6 trillion rubles., This growth has not been, and only half of the increase was related to the revaluation of the currency. The share of loans in total assets increased from 56% to 68%. "This is due to problem solving, which were put before us by the government, our Supervisory Board and the situation that has arisen in the country. Most banks virtually stopped lending, and those who continued, began to record sky-high interest rates, to revise contracts, etc., and we have been political in general, the decision to keep everything on the same level ", - explained Lykov. In addition, the VEB has net interest income, in general, the bank operates positively, its operating activities is positive, he added.
Not disappointed with the results and Poluboyarinov. "We view the results as much as possible of our corporation to meet its obligations is dependentspine on which the figure indicated in the article "profit", - he said.
The bank's capital in 2014 decreased by 193.1 billion rubles. The bank's capital adequacy ratio is 14.3%. In December, VEB has received 30 billion rubles. from the federal budget for additional capitalization. This amount trimmed losses on the reserves, said Poluboyarinov. "Since we are not focused on making a profit, then they gave us the right capital for the accrual of reserves, maintain financial stability and coverage of possible problems with the borrowers. Doubtful debt reserves remained at a level of 105% ", - he said.