ICD Investments

History

2020: The company was sold for 400 million rubles and renamed "MKB Investments"

The Moscow Credit Bank (MKB) disclosed in the statements for 2020 how IFRS much it paid for Region Investments (renamed MKB Investments), which were part of the Region Group of Companies. In November 2020, he acquired a brokerage company for 400 million rubles. The ICD did not comment on the value of the transaction, only repeating that the company was acquired to create a digital platform for private investors.

Against the background of the arrival of private investors on the stock exchange, banks began to actively develop this direction. At the same time, part develops brokerage services at the expense of its own teams or acquired specialists. But over the previous year, several transactions to buy brokerage companies passed. In December 2019, Sovcombank acquired a 50.1 percent stake in Septem Capital for 44 million rubles, and in December 2020 brought its share to 74.9%, paying 100 million rubles for a quarter of the company. In mid-2020, Fridom Finance (the parent company of the Russian Freedom Finance) acquired a 100% stake in Zerich Capital Management for $7.11 million (500 million rubles).

Market participants rate the price of the ICD transaction quite high. As the president of Finam Vladislav Kochetkov notes, "ten net profits for the Russian market is a fairly high estimate." However, according to him, obviously, it includes "the infrastructure of the acquired business, the prospects for its development, which forms a premium when evaluating"^[1].

According to Maxim Dremin, deputy general director of Alor Broker, if we are talking about a license and a client base with a ready-made income structure, then 400 million rubles. can be a fair market price.

According to the Moscow Exchange, at the time of the acquisition, according to the number of clients, Septem Capital was in 18th place (19.3 thousand customers), Zerich Capital Management was in 19th place (19.6 thousand customers), MKB Capital was in 23rd place (11.3 thousand customers). At the end of February 2021, in terms of the number of clients, Septem Capital climbed to 10th place (64.6 thousand customers). Freedom Finance is in 8th place (105.6 thousand customers, in July 2020 it had 53 thousand customers). MKB Investments remains in 23rd place, but already with 13.1 thousand customers.

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