Moscow Industrial Bank MINnB
Russia
Central Federal District of the Russian Federation
Moscow
st. Ordzhonikidze, d. 5
Owners:
Promsvyazbank (PSB) - 100%
Owners
Performance indicators
2020: Technical profit in the amount of 12 billion rubles
The Moscow Industrial Bank (MINnB), which is undergoing reorganization, showed a net profit of 12 billion rubles at the end of 2020, although at the end of 2019 there was a loss of 115 billion rubles. The profit for 2020 is not the result of efficient work, but is technical in nature.
In 2020, customers took away 49.25 billion rubles. (balances decreased by 21% to 184.9 billion rubles), the loan portfolio grew by only 401 million rubles, to 76.5 billion rubles, of which 50.3 billion loans to companies and 26.2 billion rubles loans to individuals. In the fall of 2020, MINnB reduced its authorized capital from 129.3 billion to 5 billion rubles, the released 103 billion rubles were used to pay off losses of previous years, as a result, the bank showed income from the conversion of shares of 21.3 billion rubles. Positive profit allowed to increase payments to top managers from 86.1 million to 122.6 million rubles.
2019: Loss amounted to 117 billion rubles
At the end of 2019, the Moscow Industrial Bank, rehabilitated through the Banking Sector Consolidation Fund, became the leader in losses (117 billion rubles) among Russian banks undergoing reorganization. Read more here.
History
2023: Promsvyazbank joins Moscow Industrial Bank
The only shareholder of Promsvyazbank (PSB) decided to join the Moscow Industrial Bank (MINnBa), which has been undergoing reorganization since 2019. This is stated in a message published on Fedresurs on March 24, 2023.
The document says about "the adoption on March 21, 2023 by the sole shareholder of PJSC Promsvyazbank of the decision to reorganize PJSC Promsvyazbank in the form of joining the Joint Stock Company" Moscow Industrial Bank. " Creditors' claims shall be accepted in writing within 30 days from the date of publication of the reorganization notice in the journal "Bulletin of State Registration."
In January, PSB contributed 100% of the shares of MINnBa to the authorized capital, follows from the data of the Unified State Register of Legal Entities (USRUL). The procedure was carried out in accordance with a government order.
Promsvyazbank is a large universal bank with a developed network of divisions. Since the end of 2019, Promsvyazbank has officially been the reference bank of the military-industrial complex of the Russian Federation. The customer base of MINnBa exceeds 70 thousand enterprises (by March 2023). The bank has more than 150 branches in 27 regions of Russia.
The Central Bank sent the Ministry of Finance for reorganization due to the inability of the credit institution to independently overcome the financial difficulties that it has faced in the past few years. The Central Bank first allocated 128.7 billion rubles for the additional capitalization of the credit institution, and then another 34.9 billion rubles. The last tranche was carried out as part of changes in the plan of participation in the implementation of bankruptcy prevention measures. The amount of financing was determined in such a way that the fair value of the bank's assets corresponds to the amount of its obligations, the regulator noted.[1]
2022
Prevention of bankruptcy by the Bank of Russia
At the end of March 2023, the Central Bank of the Russian Federation, as part of its reporting, named the banks whose bankruptcy was prevented in 2022. We are talking about the Bank of Non-Core Assets (BNA) Trust, Promsvyazbank and MINnBank. Read more here.
Exit from the capital of the Ministry of Bank
On November 10, 2022, the Central Bank of the Russian Federation announced the withdrawal from the capital of Moscow Industrial Bank (MINnBank). The Russian Federation represented by the Federal Property Management Agency became the owner of 100% of the shares of the credit institution. At the same time, until May 2023, the bank is expected to join Promsvyazbank.
As noted in the Central Bank, MINbank JSC will continue to work in standard mode and fulfill all its obligations to customers. The Bank of Russia's earlier decision to guarantee the continuity of its operations remains in effect.
First, the Deposit Insurance Agency (DIA) will transfer 100% of ordinary shares of MIN Bank to the treasury at a market value of 1 ruble due to a decrease in the property contribution of the Russian Federation made to the property of the DIA by this amount. Then the securities as a deposit of the Russian Federation will be included in the authorized capital of Promsvyazbank PJSC at the specified value (1 ruble) in the procedure for payment of additional shares placed by Promsvyazbank in connection with the increase in its authorized capital.
By April 2022, the Central Bank invested 164 billion rubles in Minbank. In May 2022, the Bank of Russia capitalized Minbank in the amount of 34.9 billion rubles. The amount of financing "is determined in such a way that the fair value of the bank's assets will correspond to the amount of its obligations." As specified in the Central Bank, "the need for additional capitalization is mainly due to the implementation of risks for the" old "assets" of the Ministry of Bank. In addition, the amount of financing also "takes into account the impact of the current situation on the value of the bank's assets and indicators of its activities," the Bank of Russia noted.
Earlier it was assumed that the bad assets of Minbank would be bought by the bank of non-core assets "Trust," their volume was estimated at 32.1 billion rubles. The Central Bank was ready to allocate 24.3 billion rubles for the deal, but later refused to transfer assets. Work with distressed assets will be continued by the Ministry of Bank independently from its balance sheet, follows from the message of the Central Bank.[2]
Decision to join Promsvyazbank
Moscow Industrial Bank will be annexed to Promsvyazbank - Government order in November 2022
2021: Division of the bank's assets between Trust and Promsvyazbank
In April 2021, the Central Bank made changes to the financial recovery plan of the Moscow Industrial Bank (MINnB): "bad" assets will be transferred to Trust Bank by August 1, 2021, good assets with a MINnB banking license - to Promsvyazbank.
To carry out the operation, the Central Bank will provide the Trust with a deposit of up to 24.3 billion rubles, with this money the Trust will buy out "bad" assets from the Ministry of Finance, in July the Ministry of Finance will return the deposit of the Central Bank previously placed in its accounts for 22.4 billion rubles.
At this time, the chairman of the board of MINnBa Igor Antonov is leaving his post, and deputy chairman Vladimir Yashin has been appointed acting chairman of the board since May 1, 2021.
2020
The death of the ex-head of MinBank Abubakar Arsamakov from coronavirus
On November 14, 2020, it became known about the death of Abubakar Arsamakov. The founder and former president of the Moscow Industrial Bank (MINnBank), a member of the central council of Just Russia, died at the age of 64 from complications caused by coronavirus (COVID-19) infection. Read more here.
Recovery of 198 billion rubles from ex-management
At the end of August 2020, the Moscow Arbitration Court, at the suit of the Central Bank of the Russian Federation, recovered more than 198 billion rubles from the ex-leadership of the Moscow Industrial Bank (MINnBank), which is undergoing reorganization. We are talking about a record amount of losses that has ever been recovered from the former owners of a credit institution in Russia. Read more here.
The Central Bank changes the board of directors ahead of schedule. Roman Romanenko - Acting Chairman of the Board
By decision of the Bank of Russia, the sole shareholder of the Moscow Industrial Bank (Minbank), which is in the process of reorganization, on August 11, the full board of directors was replaced ahead of schedule. This is reported in the disclosure of information of the credit institution. Dmitry Pozhidaev, chairman of the bank's board, was also removed from office ahead of schedule. He was appointed to this post less than a year ago, at the end of October 2019.
Instead of Mr. Pozhidaev, from August 12, his former deputy Roman Romanenko was appointed to the post of acting chairman of the board. The composition of the bank's board remained the same, follows from the disclosure of information.
The Board of Directors was headed by Alexander Zhdanov. Since June 2017, he worked as Director of the Financial Recovery Department of the Bank of Russia.
The board of directors of Minbank left the former deputy chairman of the Central Bank Vasily Pozdyshev. In July, the Bank of Russia announced that its top manager had been appointed to Basel - Mr. Pozdyshev moved to the post of senior adviser to the Bank for International Settlements. In addition, Andrei Oreshko, Dmitry Pozhidaev, Denis Kontsevoy, Ekaterina Zvereva, Pavel Kosov (general director of Rosagroleasing), Maria Shevchenko, Joseph Bernard Christophe Boutry came out of it.
The new board of directors includes Alexander Zhdanov, Alexander Lunev (head of the FCBS), Tatyana Chernobrovina, Maria Nikitenko, Dmitry Gavrilenko, Pavel Nikolaychik.
Appointment of the head of the branch of "MINnBank" in St. Petersburg
In February 2020, Yuri Leonov was appointed to the post of head of the branch of PJSC Moscow Industrial Bank (PJSC MINnBank) in St. Petersburg. Read more here.
2019
The Central Bank demanded that A. Assamakov and his top management pay losses of 195.3 billion rubles
In December 2019, the Central Bank demanded that Abubakar Arsamakov and his top management pay off losses of the Moscow Industrial Bank (MINnB) by 195.3 billion rubles. Now the bank is owned by the Central Bank. But Arsamakov does not consider himself guilty and left Russia.
Incorporation of Volga-Oksky Commercial Bank
The Federal Tax Service of Russia has entered information into the Unified State Register of Legal Entities on the registration of a new version of the Charter of PJSC Moscow Industrial Bank (PJSC MINnBank). The Charter reflects the information on the merger of the Joint-Stock Company "Volga-Oksky Commercial Bank" (JSC "VOKBANK") (clause 1.1):
In accordance with the decision of the Provisional Administration for the Management of the Bank of PJSC "MINbank" dated September 20, 2019 (Decision No. 11-VA), the Bank was reorganized in the form of the merger of the Joint-Stock Company "Volga-Oksky Commercial Bank" (JSC "VOKBANK").
The Bank is the legal successor of Volga-Oksky Commercial Bank (VOKBANK JSC) for all its obligations against all its creditors and debtors, including obligations disputed by the parties. "
In accordance with the approval of the new version of the Charter of PJSC "MInBank," the position of the President of the Bank was renamed the Chairman of the Management Board, the positions of Vice-Presidents were renamed the posts of Deputy Chairmen of the Management Board (clause 1.9).
Central Bank introduces a temporary administration to the bank
On January 22, 2019, the Central Bank approved a plan to increase the financial stability of the Moscow Industrial Bank (Minbank). At this time, the bank ranks 33rd in terms of assets in the banking system of Russia. It is noted that the regulator will participate in the activities of the organization as an investor in order to prevent bankruptcy.
At the same time, the functions of the interim administration by order of the Central Bank are assigned to LLC "Management Company of the Banking Sector Consolidation Fund."
 | "The decision to implement measures to prevent bankruptcy was made in connection with the bank's inability to independently overcome the financial difficulties it has faced in the past few years," the text of the message published on the Bank of Russia website says. |  |
It is noted that the financial institution was involved in financing a number of ineffective investment projects in the field of construction, industry and real estate operations. As a result, most of the bank's assets lost liquidity and ceased to generate income.
| | "The Bank continues to operate as usual, fulfilling its obligations and making new transactions. A moratorium on satisfying the claims of creditors is not introduced, "the message adds. | |
2012: Customer network of 70,000 businesses
In 2012, the bank's client network consisted of more than 70 thousand enterprises and organizations, many of which are the pride of Russia's scientific and industrial potential. At this time, the bank serves customers in 255 sales offices in 29 constituent entities of the Russian Federation. The bank's branch network is concentrated in the Central Federal District: Moscow, Belgorod, Bryansk, Vladimir, Voronezh, Ivanovo, Kaluga, Kursk, Lipetsk, Moscow, Nizhny Novgorod, Oryol, Tula and Yaroslavl regions. In the North-West Federal District, the bank is represented in St. Petersburg, the Republic of Karelia, the Arkhangelsk Region and the Nenets Autonomous Okrug. In the Volga Federal District - in the Saratov Region. In the Southern Federal District - in the Krasnodar Territory, Astrakhan, Volgograd and Rostov Regions, the Republic of Adygea. In the North Caucasus - in the Stavropol Territory, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia - Alania and the Chechen Republic.
A wide network of correspondent banks in Russia and abroad allows you to make customer payments as soon as possible using the latest banking technologies.
With the General License of the Central Bank of the Russian Federation, the Moscow Industrial Bank provides a variety of financial services to enterprises of all sectors of the economy, local authorities and the population. The Bank has significant experience in servicing budgetary organizations (accounts of administrations and customs authorities, institutions and organizations of the social and housing and communal sphere). The Bank carries out the whole range of banking operations.
2011: Bank owners - 96 legal entities and 310 individuals
As of July 01, 2011, the Bank's shareholders include 96 legal entities and 310 individuals holding 68.24 and 31.76 percent of the Bank's authorized capital, respectively.
2010:250 offices in 29 constituent entities of Russia
The Bank provides financial services to enterprises, government authorities and the population in 250 sales offices in 29 constituent entities of the Russian Federation.
1990: Establishment of the Bank
OJSC "MINnB" was established in November 1990 on the basis of the Moscow City Administration of Promstroybank of the USSR.
Notes
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