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Baltinvestbank

Company

Financial results
2019 year
Revenue: No data
Net Profit: -3600000 Thousand rub

Owners

Performance Indicators

2019: The size of a loss was 3.6 billion rubles

At the end of 2019 Moscow industrial bank, sanified through Fund of consolidation of the banking sector, became one of loss leaders (3.6 billion rubles) among Russian banks passing through the procedure of sanitation. In more detail here.

History

2020: The Central Bank and Absolyut-bank conduct negotiations on increase in financing of sanitation

On January 23, 2020 ID Kommersant reported that the Central Bank and Absolyut Bank conduct negotiations on increase in financing of sanitation of Baltinvestbank, on it to it it became known from two sources in financial market. According to one of them, the bank asked to increase the regulator the volume of the credits for financial improvement of Baltinvestbank by 5 billion rubles and also sanitation terms from 10 to 18 years. Other interlocutor of Kommersant reported that the Central Bank agreed to these conditions, without having specified whether these arrangements documentary are issued. Also, according to him, Absolyut-bank asks to increase some more loan amount — by 3 billion rubles. However because of staff movements in the Central Bank, including because of leaving of the deputy chairman of the Central Bank Vasily Pozdyshev who supervised activity of department of financial improvement of the Central Bank for January 23, 2020 these negotiations clogged.

On financial improvement of Baltinvestbank the DIA allocated several credits in December, 2015: the ten-year credit for the amount of 10.9 billion rubles under a rate of 0.51% per annum, the six-year credit of 1.4 billion rubles under 6% per annum, the two-year credit of 9 billion rubles under 6% per annum. Also the DIA provided financial aid to Absolute bank in the form of a ten-year loan in the amount of 11 billion rubles with an interest rate of 0.51%. Total amount of the credits — 32.3 billion rubles. In December, 2017 the group returned the two-year credit of 9 billion rubles.

Sanitation of Baltinvestbank was performed according to the old scheme, i.e. with involvement of the third-party investor which became Absolyut-bank. Identification by turnaround managers of "skeletons in the cupboard" of the sanified banks during their improvement was one of shortcomings of this scheme. So it happened also to Baltinvestbank, one of problems of which consisted in the guarantees issued by this credit institution which were not entered in books.

The financial statements of Baltinvestbank in 9 months 2019 according to IFRS contained the instruction that the negative capital of bank is a little more than 23 billion rubles, and business continuity of credit institution depends on accomplishment of the plan of financial improvement. These circumstances "represent essential uncertainty which can raise considerable doubts in capability of group (Baltinvestbank) to continue the activity continuously".

The Absolute bank did not confirm information on change of the plan of financial improvement. However reported that "the plan of financial improvement is at a stage of negotiations". The Central Bank and DIA did not respond to the request of Kommersant.

In 11 months 2019 the capital of Baltinvestbank changed about minus of 14.6 billion rubles to minus 19.1 billion rubles, the chief of analytical management of BKF bank Maxim Osadchy notes. The loss in 11 months 2019 made 2.3 billion rubles. The basic reason of losses, according to the expert, is in growth of bad debts — in 11 months the delay grew by 4.3 billion rubles.

«
It is clear, that neither 5 billion rubles, nor 8 billion rubles will solve problems of the sanified bank, but in the capital not to do without additional injections,
considers Maxim Osadchy[1]
»

2016

Transition of bank under control the Absolute of bank

The bad quality of assets was a problem of bank, the chairman of the board of Baltinvestbank and the former deputy chairman "The absolute of bank" Konstantin Yakovlev considers. The clients related to the former shareholders of bank received about 15 billion rubles of the credits in bank, he said in July, 2016. The turnaround manager detected five off-balance guarantees which receivers demand about 3 billion rubles from bank.

In December, 2016 Baltinvestbank is going to finish year with profit about 3 billion rubles, the total loan portfolio according to IFRS for the end of 2016 will be about 40 billion rubles, the representative says it. In 2017 it is going to increase a retail deposit portfolio by 2 billion up to 29 billion rubles, corporate – by 1 billion up to 7 billion rubles. New issues on legal persons will make about 2 billion rubles, on natural persons – 1.7 billion rubles. The bank offered non-core assets for which it hopes to gain about 3 billion rubles for sale.

In spite of the fact that the liquid position of Baltinvestbank was recovered, to say that it can exist independently prematurely, Vladimir Teterin, the director of the bank ratings of RAEX considers. The turnaround manager took measures for cost reduction and announced plans to implement a part of non-core assets, but growth of volume of arrears and "surprises" like potential payments for the guarantees which are not reflected in the reporting complicate its financial position, Teterin says. Assets of Baltinvestbank in 11 months 2016 were reduced by 2.9%, the loss according to IFRS in nine months 2016 made 2.4 billion rubles (a year before – 2.9 billion rubles), the chief of analytical management of BKF bank Maxim Osadchy says.

The turnaround manager still did not submit the plan of financial improvement, and without it sanitation is performed haphazardly, the former deputy chairman of Baltinvestbank Pavel Gorbunov considers (since December, 2016 the adviser to the chairman of the board of Aleksandrovsky bank). The trust to the procedure can lower and a situation around Sovetsky bank, to turnaround manager most of which sanitation was required, Gorbunov argues.

Perspectives of Baltinvestbank depend on progress on collecting problem debts (including due to providing) and also from whether it will manage to bank to build the working loan portfolio which yield will be able to offset losses on irrevocable assets, Teterin believes.

In Aleksandrovsky passed about 30 employees of Baltinvestbank, generally from the corporate block which bring the clients, Gorbunov told.

Agreement with Zolotaya Korona on network of repayment of the credits

In the summer of 2016 within partnership of PJSC Baltinvestbank with "Zolotaya Korona — Repayment of the Credits" service clients of bank had an opportunity to pay the credits in retail network of salons Euroset, MTS (Russian Telephone Company Ltd), offices Beeline (JSC VimpelCom) and Агент.ру and also in NOU-HAU and Maksimus cellular shops in To Moscow and the Moscow region, Frisbee in Yekaterinburg and Sverdlovsk region, Tsifrograd in Novosibirsk and the Novosibirsk region, in shoe shops KARI, in cash desks of partner banks of service.

For introduction in payment for the credit to clients of bank number of the bank account or an agreement number, a full name of the receiver and passport data of the payer is enough to call money. The service commission makes 1%, but not less than 50 rubles. Money will be credited to the customer account already on the following banking day.

2015: The absolute bank becomes turnaround manager of Baltinvestbank

Problems of Baltinvestbank became obvious since fall of 2015. Since October it began to delay payments, on November 18 in bank there began work the commission of the Central Bank and DIA, and on December 23 the turnaround manager selected Absolyut bank (received from the Central Bank about 32 billion rubles of the credits for 10 years).

In a year Baltinvestbank fell from the 77th by the 80th place by the amount of assets (77.9 billion rubles – for September 30, 2015, 68 billion rubles – for September 30, 2016).

Before transition of Baltinvestbank under control "The absolute of bank" its shareholders were:

  • the chairman of the board of directors Yury Rydnik (directly owned 3.2%, through SPD Inc – 13.7%),
  • Vadim Egiazarov (through the affiliated companies controlled 27.8%),
  • Alexander Shvidak (15% through Plata Group Ltd).

2012: 6 branches and 42 offices

For February, 2012 the network of Baltinvestbank consists of 6 branches and 42 additional offices located in the different cities Russia. In St. Petersburg the Central office and 17 additional offices works. In Arkhangelskaya the area the central office of branch and 2 additional offices is located. In the cities Severodvinsk, Kotlas, Velsk, Koryazhma and Onega are located additional offices of the Arkhangelsk branch and 3 operational offices of branch in Murmansk, Cherepovets and To Vologda. In To Samara the central office of branch, 5 additional offices and operational offices of branch in the cities is located Togliatti Ufa Saratov, Perm and Naberezhnye Chelny. In To Moscow the bank branch and operational offices of branch is located in Bryansk Vladimir Voronezh, Smolensk and Lipetsk. In Yekaterinburg, Krasnodar and Vyborg (Leningrad Region) offices of bank branches are located.

In 2012 Baltinvestbank developed as the universal bank providing a full range of services to legal entities and physical persons. The bank was one of the largest Russian universal banks.

2003: Renaming into Baltinvestbank

In 2003 the Bank was renamed into Baltinvestbank.

2001: Interros sells bank to the St. Petersburg companies

In 2001 the stocks Baltoneksim Banka belonging to structures of the Interros group were redeemed by a number of the St. Petersburg companies.

1994: Creation Baltoneksim of bank

Baltinvestbank is created in December, 1994 under the name of Baltoneksim bank.