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среда, 26 июля 2017 г.

The impoverished people and the bankers getting fat

Banks do not believe in the economy
10:20 26.01.
According to the Bank of Russia, in 2016 the profit of credit organizations has grown by almost five times compared to the previous year and amounted to 930 billion rubles But more than half of this amount earned savings, and key performance indicators of banks, as noted by the regulator, declined. Banks have reduced lending as the economy as a whole and non-financial institutions in particular. Consumer credit increased by a nominal amount.
"Important positive result of 2016 began almost five-fold increase compared to 2015 year net profit of credit organizations (respectively 930 billion and 192 billion rubles)", — stated in the review "On the dynamics of development of Bank sector of the Russian Federation in December and 2016", which the Central Bank issued 25 Jan.


Significant profit growth of the banking sector in 2016 is largely due to the low base effect, as the 2015 year has been one of the most unfortunate for banks after the crisis period of 2008-2009, said Yuri Kravchenko, the senior analyst IK "Veles the Capital".
"Overall, the recovery in earnings in 2016 was possible, primarily, due to reduction of expenses on creation of reserves for losses," says Kravchenko.
According to the Bank of Russia, the balance in the accounts of reserves for possible losses increased from the beginning of the year to 3.5%, or 188 billion rubles, while in 2015 growth was equal to 33.4%, or 1,352 trillion rubles.
In 2015, the overdue debt on loans grew by 1 trillion rubles, reminds chief analyst of PSB Dmitry Monastyrshin. In this regard, banks has spent on redundancy losses of about 1.3 trillion rubles, which "eat" all profit. In 2016 by improving the quality of loan portfolio of banks was not a need for the formation of reserves, which helped to restore profit sector.
By the end of 2016, the volume of overdue loans in the corporate portfolio declined by 8.9%, and retail – 0.7%, according to the Central Bank.
Profit growth was also helped by the lower interest rates under the impact of the emerging surplus liquidity in the banking sector, which allowed us to refinance the expensive funding 2015 and to reduce interest costs, said Yuri Kravchenko.
Dmitry Monastyrshin adds that the maximum rate on ruble deposits of individuals in banks entering in the top 10, declined in 2016, from 10.1 to 8.4%. Lower rates occurred on foreign currency deposits. Lower rates on loans was a little bit slower, and contributed to the recovery in net interest margin, he said.
More than half of the net profit sector accounted for only per one credit institution — Sberbank, analysts say. Country's largest Bank in mid-January, grew net profit under Russian accounting standards in 2016 at 136.7%, to 516,988 billion.
The analyst of "ALOR broker" Alexey Antonov believes that due to the permanent revocation of licenses of banks in Russia is becoming less, and the number of customers more or less permanently, as a result, those who remain in the market, gets the customer base growth, and often growth in the number of offices, employees, equipment, some know-how.
"Of course, in the end, may be not the most useful for the sector, the situation when the market will be dominated by state-owned banks, but this is still far away, and yet — formed an oligopoly. About half of the amount of the profit sector accounts to Sberbank, that says a lot," the analyst believes.
Of course, profit growth is good, as well as lower indebtedness and cost of funding. But, as the regulator, "key performance indicators of banks for the year 2016 has been reduced." The main negative outcome of last year banks will reduce lending to the economy.
According to the Central Bank, assets decreased by 3.5% (excluding the exchange rate recorded a slight increase of 1.9%), credits to economy — 6.9% (-2,4%); loans to non-financial organizations — 9.5% (-3,6%).
The only segment where there was a revival, was the retail lending growth last year was 1.1% (+1.4 per cent).
A small increase in lending to individual persons associated with mortgages for which demand has increased in anticipation of the completion of the program of gesubsidieerde mortgages, says Tamara Kasyanova, managing partner of JSC "2K". Excluding mortgages in the first 11 months of last year, the volume of lending to individuals fell by 7.7%.
Analysts point out that such a controversial situation with lending suggests that the problems in the economy and the banking sector has not been overcome.
Yuri Kravchenko said that "talking about the full normalization of the situation in the sector will only be possible when the banks will restore lending to companies and enterprises, and interest income will become the main growth driver of financial results".

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