Express credit

History

2016: License Revocation

On November 16, 2016, the Bank of Russia revoked the banking license from the credit institution KB Express Credit. The relevant decision was made by the Central Bank of the Russian Federation in connection with the credit institution's failure to comply with federal laws regulating banking activities, as well as Bank of Russia regulations. The regulator's message notes that "In case of unsatisfactory asset quality, Express Credit CB (JSC) inadequately assessed the risks taken in this regard. A proper assessment of credit risk at the request of the supervisory authority revealed a complete loss of the bank's own funds (capital). In addition, the credit institution was involved in dubious transit operations. "

2015

Owners

As of April 2015, the main owners of the bank are:

• Alexander Antipov - 19.29%,
• Anna and Vladimir Sadikov (mother and son, cumulatively - 19.29%),
• Evgeny Berson - 15.22%,
• Forum LLC (ultimate beneficiaries - Dmitry Zdravomyslov, Evgeny Lavrov, Vladimir Sadikov and Evgeny Berson) - 12.54%,
• Dmitry Zdravomyslov - 12.05%,
• LLC Firm "Hals" (ultimate beneficiaries - Igor Zhirov and Valentina Dunik) - 10.96%,
• Mikhail Kardashian - 6.25%,
• Larisa Korzhevs - 4.26%.

The remainder of the shares (0.16%) is distributed among minority shareholders.

Board of Directors and Management Board

As of April 2015, the bank's board of directors includes:

• Alexander Voznesensky (chairman, in 1990 he held a number of senior positions in the Bank of Russia and ARKO),
• Alexander Antipov,
• Valery Zykov,
• Valery Yakimenko,
• Eugene Berson.

Management Board:

• Vladimir Sadikov (chairman),
• Alexander Antipov,
• Eugene Larin,
• Dmitry Zdravomyslov,
• Andrey Losev,
• Olga Vasina (chief accountant).

165 employees and 2,000 corporate clients

In addition to the head office located in Moscow, the bank had one additional office. The number of employees of the credit institution as of January 1, 2014 was 165 people.

As of April 2015, the bank serves about 2 thousand corporate clients. Express Credit cooperates with enterprises of the military-industrial complex, representatives of the aviation and space industries, state corporations, interacts with research organizations. The main large clients of the bank are Printing House Novosti JSC, Belkast OJSC, Physicoptics CJSC, FSUE Central Research Radio Engineering Institute named after Academician A. I. Berg, etc.

Loss in the first quarter RUB 13.1 mln

According to the results of the first quarter of 2015, the bank suffered a net loss of 13.1 million rubles.

As of June 2015, corporate clients are offered a standard set of services and products:

• lending, settlement and cash services,
• foreign exchange transactions,
• deposits and promissory notes,
• securities,
• collection,
• bank cards,
• bank guarantees.

In addition to the line of deposits, individuals have access to lending (mortgage, consumer, overdraft), settlement and cash services, bank cards (MasterCard Worldwide), bank safes, money transfers (via Western Union, Blizko, Golden Crown systems), foreign exchange transactions, commemorative coins, operations in financial markets.

2014: Net profit of RUB 35.5 mln

At the end of 2014, the assets of the credit institution showed a decrease of 3.9%, or 323.4 million rubles. In the passive part, the reduction is observed in the funds of corporate clients (-46.5%, or 1.3 billion rubles) and in the portfolio of issued bills of exchange (-93.1%, or 211.6 million rubles). In parallel with this, one can note an increase in funds in deposits of individuals (+ 85.1%, or 1.4 billion rubles) and in the portfolio of attracted MBCS (+ 21.5%, or 376.8 million rubles).

The bank's equity also showed a decrease of 11.1%, or 124.6 million rubles, due to a reduction in the retained earnings of the current year.

Changes in the active part of the balance sheet are due to a reduction in the item of other assets by 81.6%, or 632.1 million rubles (due to a reduction in other requirements for customers and the value of fixed assets), as well as a decrease in the volume of highly liquid assets by 30.9%, or 244.8 million rubles (due to a decrease in the volume of funds in the correspondent account with the Central Bank). At the same time, assets have an increase in the loan portfolio by 7.9%, or 276.2 million rubles, in the portfolio of issued MBCS - from zero to 175.8 million rubles, investments in securities - by 4.1%, or 109.2 million rubles.

Bank liabilities on:

• 39% are represented by deposits of individuals,
• 26.9% falls on the portfolio of funds raised from banks (the main share of 89.3% is attracted from the Central Bank of the Russian Federation),
• corporate client funds account for 19.1%,
• equity - 12.6%.

The Bank has four subordinated loans raised:

• in April 2010, maturing on June 1, 2018 at 5%,
• in March 2011 maturing on 31 May 2019 at 5%,
• in February 2012 with a maturity date of September 30, 2022 at 9%,
• in August 2012 with a maturity date of December 15, 2022 at 5%.

The total amount of debt on loans is 310 million rubles. The payment dynamics of the client base is active, the turnover on customer accounts within the month is about 8.3 billion rubles a month.

In the assets of the bank with a share of 47.7%, the loan portfolio dominates. About 58.2% of all loans were provided to corporate borrowers. Delinquency in the portfolio is 4%, growing in dynamics. The level of redundancy in the portfolio as a whole is low and amounts to 4.4% (at the beginning of 2014 - 3.7%). The average security of loans with collateral is 95.1% (at the beginning of 2014 - 105.3%).

The portfolio of securities, forming 35.1% of assets, is 85.8% represented by securities transferred to repurchases to the Bank of Russia (an important source of short-term funding), the rest is mainly bonds. Highly liquid assets make up 6.9%, the portfolio of issued MBCS - 2.2%, other assets - 1.8%. The bank is moderately active in the foreign exchange market: average turnover is about 8.8 billion rubles. In the domestic market of interbank loans, it consistently acts as a net borrower, there is a high volume of borrowings from the Bank of Russia secured by a portfolio of securities (repo operations).

At the end of 2014, the bank received a net profit of 35.5 million rubles (in 2013, the same indicator amounted to 132.6 million rubles). The decrease in profit was due to a significant decrease in the volume of income from foreign exchange transactions.

2008: Member of the deposit insurance system

Since November 2008, the bank has been a participant in deposit insurance, after it filed a petition with the Central Bank of the Russian Federation in connection with the expiration of two years from the date of termination of the right to work with deposits.

He is a member of the Association of Regional Banks "Russia," the Association of Russian Banks, the Moscow Chamber of Commerce and Industry, the mortgage lending program according to the standards of the Agency for Housing Mortgage Lending (AHML).

1998: Change of principal owners

The composition of the shareholders of the credit institution changed quite often. In the crisis year 1998, Nikolai Dozhdalev, Mikhail Kosoy, Boris Serepiev, Znanie Publishing House, Firm Hals LLC, Trio Firm LLC, Ali PE, Adron LLC, Zeus LLC, DSK LLC were seen among the main owners.

1989: Founding of the Bank

CJSC JSCB Express Credit was founded in 1989 (registered by the Central Bank of the Russian Federation in 30.09.1991, registration number 210).