Bank Zenith

Performance indicators

2023: Annual loss - 7.2 billion rubles

At the end of 2023, Zenit Bank received a net loss of 7.22 billion rubles. For comparison, a year earlier, net profit was shown at 811.15 million rubles. At the same time, the loss before tax amounted to 6.74 billion rubles, while in 2022 a profit before tax of 1.17 billion rubles was received. The corresponding figures are reflected in the accounting report published on March 18, 2024.

Zenit's expenses for creating a reserve for possible losses and expected credit losses in 2023 amounted to 10.34 billion rubles against 3.86 billion rubles a year earlier. Thus, the growth in this indicator was at around 167%. Net interest income before the creation of the reserve increased on an annualized basis by 43% - from 6.39 billion rubles to 9.13 billion rubles. The negative interest margin after deductions amounted to 1.21 billion rubles.

Bank Zenit received a net loss of 7.22 billion rubles

The report says that at the end of 2023, the bank's assets amounted to approximately 306.31 billion rubles. For comparison, in 2022, the figure was 319.47 billion rubles. Thus, there was a drop of about 4.1%. Net loan debt on an annualized basis rose by 7.5% to 213.34 billion rubles. The volume of attracted customer funds in 2023 decreased by 7.3%, amounting to 250.28 billion rubles (270 billion rubles in 2022). Own funds decreased by 26.5% - from 25.85 billion rubles to 19 billion rubles.

Zenit notes that the financial results in 2023 are due to the creation of reserves for blocked assets in "unfriendly" countries. Without taking into account these reserves, the bank recorded a profit, which "is provided by the target balance sheet structure, measures taken to devaluate it, operational management of interest rate policy, conservative risk appetite, cost optimization."^[1]

History

2024

Data breach of tens of thousands of customers

On September 5, 2024, it became known about the leakage of personal data of tens of thousands of customers of Zenit Bank. Stolen information can be used to organize personalized phishing attacks and other fraudulent schemes aimed at stealing money.

According to the Telegram channel "Information Leaks," the hacker group DumpForums is behind the hack. According to cybercriminals, they gained access to the database of the site owned by Zenit Bank. At the same time, it is not specified which resource was hacked: it may be, for example, one of the promotional sites, and not the main website of the financial institution.

Data leakage of Zenit Bank customers

As evidence of data theft, the attackers published tables of registered users and customer requests through a feedback form on the bank's website. In total, the array contains about 84 thousand unique email addresses and 82 thousand phone numbers. These data can be used, in particular, to carry out mass mailing or calling customers of Zenit Bank.

The DumpForums group, as noted, unites pro-Ukrainian hacktivists. She noted a number of high-profile actions, including attacks on, DIT of Moscow, "Intourist""" and in First Bit BI.Zone 2023, as well as FTS Russia on 2022. However, not all the attacks that DumpForums cybercriminals attributed to themselves were subsequently confirmed.^[2]

Angstrom, with the support of the prosecutor's office and the Ministry of Industry and Trade, fought off the demands of Bank Zenit to pay billions of dollars in debt without deferral

The Ninth Arbitration Court of Appeal in July 2024 considered the complaint of Bank Zenit against the earlier decision to provide the manufacturer of microelectronics Angstrom with a two-year installment plan to pay the bank a debt of about 921 million rubles and refused to satisfy its claims. Read more here.

The court recovered in favor of Zenit Bank $73.6 million from Euroclear and 20 million rubles from Clearstream

In June 2024, the Moscow Arbitration Court ruled in favor of Zenit Bank, deciding to recover $73.6 million and 20 million rubles from Clearstream Banking from Euroclear Bank. This decision is due to the losses that Zenit Bank incurred due to blocked payments of coupon income and the face value of bonds. Read more here.

2023

New Chief information officer - Oleg Kalimullin

As TAdviser found out in September 2023, Oleg Kalimullin was appointed Information Technology Director of Bank Zenit. The bank clarified to TAdviser that in his new position he will oversee the issues of import substitution of software, modernization of IT processes and infrastructure. Read more here.

The court, at the request of Zenit Bank, arrested the shares of Credit Suisse and UBS subsidiaries in the Russian Federation

The court, at the request of Zenit Bank, arrested the shares of Credit Suisse and UBS subsidiaries in the Russian Federation. This became known in mid-August 2023. Read more here.

Appointment of a new Chairman of the Management board

On March 31, 2023, Dmitry Romanov was appointed Chairman of the Board of PJSC Bank Zenit. The corresponding decision of the meeting of shareholders of the credit institution entered into force after receiving the approval of its candidacy by the Central Bank of the Russian Federation. Sergei Kulakovkin, who has been acting as CEO since February 2023, has been appointed First Deputy Chairman of the Board of Zenit Bank. Read more here.

2021

Recovery of 1.5 billion rubles in favor of Zenit Bank

In November 2021, it became known about the recovery from Angstrom of about 1.54 billion rubles in favor of Zenit Bank. The corresponding decision was made by the Moscow Arbitration Court. Read more here.

Office manager detained for extorting bribe

In October 2021, it became known that Ildar Zholyaletdinov, manager of the Zenit bank office, was detained at the Expedition restaurant during the transfer of a bribe. He demanded through an intermediary a bribe of $7.8 thousand from the general director of Style Plus LLC for transferring 4.5 million rubles from an account with Zenit Bank to an account with Fora Bank. Otherwise, Zholyaletdinov threatened to block the transfer and mark it as dubious. At the time of the arrest, the suspect tried to remove evidence from the phone, but the police prevented him.

Recovery from the ex-deputy chairman of the bank T. Shishkina 875 million rubles

In September 2021, the arbitration considered the appeal and upheld the decision to recover 875 million rubles from the ex-deputy chairman of Zenit, a citizen of Malta, Tatyana Shishkina in favor of the bank. The plaintiffs managed to achieve the creation of a legal precedent - for the first time in Russia, they recovered losses from a retired top manager of the bank, who is not in reorganization or bankruptcy. Claims against it for another 860 million have already been filed in the interests of TATNEFT.

2020

Alexander Tishchenko - a new board

On May 18, 2020, Zenit Bank announced the appointment of Alexander Tishchenko as chairman of the board of directors. Mikhail Stepanov, who served as the head of the credit institution, leaves it and will continue to work in the financial sector. Read more here.

Zenit Bank joins Spiritbank

On May 8, 2020, Zenit Bank announced the integration of Zenit Sochi Bank and Spiritbank, as a result of which the total customer base reached 605 thousand individuals and 19 thousand small and medium-sized businesses. Read more here.

Transfer of employees to work with accommodation in the office

At the end of April 2020, Russian banks began to transfer employees to work with accommodation in offices. Sovcombank and Zenit are the first to introduce such an opportunity. Banks promise increased salaries and bonuses for this. Read more here.

2019: Mastercard agreement to launch Cash with Purchase service

Bank Zenit and the Mastercard payment system on June 6, 2019 signed a protocol of intent to launch the Cash with Purchase service. Read more here.

2018

• The international rating agency Moody's Investors Service has improved the forecast for the credit rating (issuer default rating) of ZENIT Bank from "negative" to "positive."

• ZENIT Bank began issuing loans under the new program of state subsidy of mortgages

• Management of the ZENIT Banking Group presented a new Development Strategy

• ZENIT Bank and the Ministry of Industry and Trade signed a cooperation agreement aimed at preferential financing of small and medium-sized businesses

• ZENIT Bank became a member of the Marketplace project

2017: Oleg Mashtalyar - Board of Directors of the Bank

• Bank ZENIT has successfully completed the procedure for increasing the authorized capital by 14 billion rubles. (up to 33.545 billion rubles). As a result of the additional issue, the share of PJSC TATNEFT named after V.D. Shashin and controlled companies in the capital of the Bank increased to 71.9%

• On November 21, 2017, Oleg Aleksandrovich Mashtalyar took over as Chairman of the Board of ZENIT Bank.

• In October 2017, Ilya Kuchugin was appointed director of the information technology unit of Zenit Bank.

• Development of the Development Strategy of the ZENIT Banking Group till 2020 started

• Credit ratings of ZENIT Bank have been increased: Fitch Ratings - to the level of BB (with BB-), Moody's Investor Service - to the level of Ba3 (with V1)

• RAEX (RA Expert) assigned credit rating to ZENIT Bank at ruA-

• ZENIT Bank received the status of authorized bank of the Ministry agriculture Russia

• ZENIT Bank was the first on the market to realize the possibility of using maternity capital as a down payment on a military mortgage

• Bank ZENIT began issuing cards of the Russian national payment system Mir.

2016

• Bank ZENIT has successfully completed the procedure for increasing the authorized capital by 8 billion rubles. (up to 19.545 billion rubles). The share of PJSC TATNEFT named after V.D. Shashin and its subsidiary after the additional issue of shares of ZENIT Bank and the acquisition of shares within the framework of the mandatory offer increased to 50.4%

• ZENIT Bank was recognized as the winner of an open auction for the provision of bank guarantees of FSUE Russian Post

2015

• Credit Guarantee Agency included ZENIT Bank in the list of partner banks working in the field of lending to the small and medium-sized businesses sector

• With the support of the ZENIT Banking Group, on June 4, 2015, a permanent exhibition of the Normandy-Neman aviation regiment was opened on the territory of the Museum of Aviation and Cosmonautics in Le Bourget, France

• Bank ZENIT became one of the first market makers to join the liquidity support program in the Eurobond market launched by the Moscow Exchange (MICEX)

• ZENIT Bank began reorganizing its branch network, as a result of which most branches were enlarged and transformed into banking centers

• The ZENIT banking group took 300th place in the ranking of the largest companies in Russia in 2014, first prepared by the information and analytical portal RBC

• ZENIT Bank became the winner in the category "Leader in the growth rate of the portfolio of loans to medium-sized businesses in 2015" during the competition organized by the rating agency "Expert RA (RAEX)"

2014:157 points of sale in 23 regions of Russia

• In 2014, the ZENIT Banking Group is represented in 23 out of 83 regions of the Russian Federation, its own sales network has 157 points. The Group provides a full range of banking services to its clients in the following areas: comprehensive services to corporate clients, retail services to private clients, investment bank services, interbank business.

• The bank was included in the TOR-10 of Russian banks that enjoy customer loyalty on social networks (according to the monitoring and analysis system of social networks Brand Analytics)

• Bank ZENIT has begun to open accounts and deposits of individuals in Chinese yuan

• ZENIT Bank has begun issuing bank cards equipped with Visa payWave contactless payment technology

2013

• In November 2013, Fitch Ratings upgraded ZENIT Bank's international credit rating to "BB-"

Bank ZENIT attracted a subordinated deposit from OAO TATNEFT named after V.D. Shashin in the amount of RUB 3.6 billion for a period of 10 years and 1 month

• The regional network of the ZENIT Banking Group reached 172 service points in 27 regions of the Russian Federation

• In 2013, ZENIT Bank's retail loan portfolio exceeded RUB 20 billion

• The Bank has created official accounts on social networks Facebook, VKontakte and in the instant messaging service Twitter.

2012

Subordinated deposits raised from OAO TATNEFT named after V.D. Shashin and Tatneft Finance Cyprus Limited totaling 3.2 billion rubles and $15 million were extended until 2022.

At this time, one of the important areas of the bank's activity is comprehensive service to corporate clients. ZENIT Bank develops and promotes retail services and offers its clients - individuals - a full range of banking programs: deposits, mortgage, consumer and car loans, bank cards, safe deposit boxes. The bank also has a strong position in the investment services and private investment (Private Banking) market.

ZENIT Bank has ratings of international rating agencies at the level of Ba3/Stable (Moody's) and B +/Stable (Fitch).

As one of the active participants in the debt market, Bank ZENIT implemented projects to attract 10 international syndicated loans, place 2 Eurobond issues (the debut issue was repaid in 2006, the second - in 2009), 6 ruble bonds issues (the first issue was repaid in 2007, the second - in 2009, the fourth - in 2010) and 2 issues of exchange-traded bonds.

As a member of the Association of Russian Banks, represented in the Association Council, Bank ZENIT is actively involved in the processes going on as part of the Russian banking reform.

ZENIT Bank provides charitable and sponsorship support for various sports: ice hockey, rugby, rafting, sporting, automotive sports. Charity projects aimed at helping children and children's institutions are successfully implemented

2011

• The Bank joined the United Settlement System (ORS), which has more than 8,000 ATMs and more than 1,000 partner bank offices in 81 regions of the Russian Federation.

• The Bank's line of plastic cards has been significantly expanded. There were Metro cards (with the function of paying for travel in the metro), as well as co-brand cards "Give children a smile" and "Rugby - children of Russia."

• In 2011, ZENIT Bank participated in the organization of bond loans with a total face value of over 30 billion rubles. In total, with the participation of the Bank, 10 bond loans were placed for 9 issuers.

• The Bank has twice (in May and November) successfully placed its own exchange-traded bonds totaling RUB 8 billion.

• The regional network of the ZENIT Banking Group reached 180 service points in 25 regions of the Russian Federation.

• An interbank agreement was signed with one of the largest banks in the Republic of Korea - Korea Exchange Bank, which allowed the Bank's clients to carry out transactions in Korean national currency - won.

2010

• In the annual ranking of the 500 largest banking brands in the world, prepared by the consulting company Brand Finance in conjunction with The Banker magazine, ZENIT Bank strengthened its position, rising by 11 positions

• International rating agencies Fitch and Moody's confirmed the established ratings: 'B +' and 'Ba3', respectively, and raised the rating outlook to 'Stably'

• ZENIT Bank became the owner of the general acquiring license of the international payment system VISA The placement of the debut issue of exchange-traded bonds of OAO TATNEFT series of BO-01 in the amount of 5 billion rubles was organized. The Bank also took part as a financial consultant and passport bank of the transaction on the project of raising credit funds of OAO TATNEFT from a syndicate of banks in the amount of up to $2 billion

• ZENIT Bank opened NOSTRO correspondent accounts in Chinese yuan. ZENIT Bank clients with counterparties in China received additional settlement opportunities and new opportunities for their business development

• Continued work on the operational integration and development of the ZENIT Banking Group as a universal banking group of a federal scale: the Tatarstan Banking Center was created, ZENIT Bank LLC Sochi was reorganized into ZAO ZENIT Sochi Bank

2009

• An additional office of Bank ZENIT Sochi LLC has been opened in Krasnodar
• ZENIT Bank attracted subordinated loans from shareholders, Vnesheconombank and the Black Sea Trade and Development Bank
• ZENIT Bank organized a new five-year bond loan for 3 billion rubles
• ZENIT Bank became the owner of the general acquiring license of the international payment system VISA

2008

• The ZENIT Banking Group includes Spiritbank OJSC (Tula), the number of its participants increases to five
• The regional network of ZENIT Bank is expanding due to the opening of a branch in Yekaterinburg. The number of own branches of ZENIT Bank increases to 16, the total number of service points of the Banking Group - to 164
• ZENIT Banking Group is represented in 23 of 83 regions of the Russian Federation

2007

• ZENIT Bank acquires Sochigazprombank CB LLC (renamed ZENIT Bank Sochi) and Lipetskkombank OJSC. The number of members of the ZENIT Banking Group increases to four
• In accordance with the consolidated statements of the Banking Group under IFRS for 2007, the capital of the Banking Group amounted to $738 million. US, assets - $6.645 billion. USA
• The regional network of ZENIT Bank is expanding due to the opening of 5 more own branches: in Kaliningrad, Surgut, Saratov, Perm and Novosibirsk. The number of own branches of ZENIT Bank increases to 15, the total number of service points of the Banking Group - to 150
• By the end of 2007, the number of ATMs increased from 432 to 770, of which 529 belong to the Group, and 241 to partner banks
• The ZENIT banking group is represented in 21 out of 83 regions of Russia.

2006

• ZENIT Bank organizes the first issue of foreign securities for the client (CLN for Mirax Group)
• For the first time among Russian companies and banks, ZENIT Bank acted as the manager of the CDO issue for a portfolio of Russian debt instruments worth 250 million US dollars.
• According to the results of 2006, the capital of the ZENIT Banking Group reaches 528 million US dollars
• By the end of 2006, the total number of Banking Group service points increased to 91

2005: Purchase of Devon Credit Bank and formation of a banking group

• The ZENIT banking group was formed in 2005 as a result of the acquisition by ZENIT Bank of a controlling stake in AB Devon-Credit (OJSC). Devon-Credit is one of the leaders in the retail and corporate banking services market in the Republic of Tatarstan.

• At the end of 2005, the total number of Banking Group service points increased to 78.

• Since 2005, Kirill Olegovich Shpigun has been the Chairman of the Management Board.

2004

• The bank carries out the first issue of bonds in the amount of 1 billion rubles
• The Bank becomes a member of the State Deposit Insurance System
• Bank ZENIT received the status of the Authorized Bank of the Government of Moscow
• Branches of ZENIT Bank have been opened in Chelyabinsk, Samara and Kazan. The total number of own regional branches reaches 10, the number of service points (branches, additional and mini-offices) - 38

2003

• The Bank carries out the first issue of Eurobonds in the amount of $125 million.
• The Bank provides a full range of retail services for individuals
• Branches of ZENIT Bank have been opened in Nizhny Novgorod and Rostov-on-Don. The total number of own regional branches reaches 7.

2002

Branches of ZENIT Bank have been opened in Kemerovo and Kursk. The total number of own regional branches reaches 5.

2001

• Since the 1998 financial crisis, ZENIT Bank is the first among Russian banks to attract a syndicated loan
• The Bank begins activities in the direction of "Private banking" - Private banking
• Bank ZENIT Bank becomes a member of VISA and MasterCard international payment systems

2000

• Bank ZENIT acts as financial advisor to OAO TATNEFT in the framework of negotiations with foreign creditors on an agreement on debt restructuring in the amount of $1 billion.

• Bank ZENIT branch opened in Gorno-Altaysk

1999: Transformation in OJSC. Branch in St. Petersburg

Changed legal form of the Bank - Bank ZENIT becomes an open joint stock company Bank ZENIT branch opened in St. Petersburg

1998: First branch in Almetyevsk and additional office in Moscow

Bank ZENIT becomes an official consultant to the Ministry of Finance of the Republic of Tatarstan The first branch of the Bank was opened in Almetyevsk (Republic of Tatarstan) and the first additional office in Moscow

1997: Entry into the ARB

Bank ZENIT becomes a member of the Association of Russian Banks (ARB).

1995: Obtaining a license from the Central Bank

ZENIT Bank receives licenses from the Central Bank of the Russian Federation for banking operations in rubles and foreign currency.

1994: TATNEFT and ANH establish Zenit Bank

Zenit Bank was established in December 1994 by the Academy of National Economy under the Government of the Russian Federation, the oil company Tatneft"" and a number of other legal entities.

Notes