Reviews about UniCredit Bank branches. The Italian bank UniCredit began a large sale of assets. Will he sell Russian Unicredit ba Unicredit Bank problems

There has already been a similar case in my practice. In June 2010, having learned about the sale of fourteen of its offices in Russia by Barclays Bank, I made the assumption that, . Oh, what started then! I probably talked for an hour with a representative of the bank's press service. No, they didn’t shout at me, everything was very correct. But the bank was very unhappy with my article, and even consulted with lawyers on this topic.

Bankers know what happened next with Barclays Bank, I’ll tell the rest. Only 8 months passed, and in February 2011 it became known that the British. That is, my prediction began to come true. Another 8 months passed, and in October 2011 it became known. that... Naturally, I called that PR woman and reminded her of our conversation. She apologized.

So, now I have the feeling that history is repeating itself. This time in relation to the Russian subsidiary (or rather, granddaughter) of the Italian bank UniCredit. Naturally, not exactly. You cannot step into the same river twice. What reason do I have to think so?

UniCredit in July 2016 sold a 10 percent stake in the Polish Bank Pekao for 749 million euros. At the same time, UniCredit sold a 10 percent stake in the online broker FinecoBank for 328 million euros. Shortly before these transactions, it was reported that UniCredit had announced a strategic review of all assets following the appointment of a new head of the bank in an attempt to increase equity and profitability.

The bank is forced to sell assets due to its deplorable financial situation. In early August, UniCredit reported a decrease in core capital in the second quarter. On the one hand, this confirmed the adequacy of the stress tests carried out at the end of July on fifty-one European banks. On the other hand, this exposed the insufficient adequacy of these stress tests. However, I warned about this in my article.

According to stress tests, only with negative (negative solely in the opinion of the European Banking Regulator, also known as the European Banking Authority, or EBA) developments by the end of 2018 will UniCredit’s capital adequacy decrease to 7.1%. This value is higher than the minimum required. And if the negative scenario does not materialize, then everything will be fine for the bank. Like all other banks studied.

And then it suddenly turns out that nothing bad happened in the European economy, and UniCredit Bank already needed additional capital. In general, the stress test from the European banking authority is a piece of cake. This is fraud, charlatanism, fraud, bluff, swindle, hoax, trickery, window dressing, duping, phony. This is a scam of gullible citizens. As I expected. It’s surprising that almost everyone bought this lie. Including the so-called “analysts”. They discussed the results of the stress test in all seriousness, although it was immediately clear to any literate person that its conditions were adjusted to a positive result.

So, nothing terrible has happened in the European economy yet, but the Italian bank UniCredit has started having problems. However, it is not surprising that Italian banks are having problems right now. The surprising thing is that they are still alive (see article). But when (precisely “when”, not “if”) problems begin in the European economy, and they will definitely begin, UniCredit Bank may need much more than the 7-8 billion euros that are being discussed now. Now the bank may well find buyers for its newly issued shares, and/or limit itself to the sale of insignificant stakes in small daughters and granddaughters. But when the bank starts having real problems, then the time may come for the sale of UniCredit Bank.

Naturally, the Russian bank today refuses to believe this and refuses to say anything on this topic. The press service of UniCredit Bank stated that “The UniCredit Group does not comment on such speculation, and we, as a Russian division, do not have the right to comment on any actions and intentions of the group.” But that's today. Let's, as in the case of Barclays Bank, wait 16 months.

P.S.: by the way, in that stress test, the Austrian Raiffeisen-Landesbanken-Holding GmbH is doing even worse than the Italian UniCredit. The Raiffeisen holding, which includes this bank, is represented in Russia by Raiffeisenbank. And the Russian bank back in March 2015. And in January 2016. That is, if UniCredit is still holding on here, then Raiffeisen is slowly beginning to reduce its presence in Russia. So, I do not rule out that these banks will leave Russia at the same time, or almost simultaneously.

By bank reliability we mean a set of factors under which the bank is able to fulfill its obligations and have a sufficient margin of safety crisis situations, not violate the standards and laws established by the Bank of Russia.

It should be borne in mind that it is impossible to accurately determine the degree of reliability of a bank solely on the basis of reporting, therefore the study below is indicative in nature.

Bank stability is the ability to withstand any external influences. Dynamics over a certain period may show stability (either improvement or deterioration) of various indicators, which may also indicate the stability of the bank.

Joint Stock Company "UniCredit Bank" is largest Russian bank and among them ranks 9th in terms of net assets.

As of the reporting date (May 1, 2019), the net assets of UNICREDIT BANK amounted to 1486.79 billion rubles. In a year assets increased by 8.00%. Net asset growth negative influenced the return on assets ROI indicator (data as of the nearest quarterly date April 1, 2019): net return on assets fell over the year from 3.11% to 0.46% .

In terms of services provided, the bank mainly attracts client money, and more funds legal entities (i.e. it is a settlement client), and invests funds mainly in loans.

UNICREDIT BANK - subsidiary foreign bank.

UNICREDIT BANK - is on the pawnshop list , and the Bank of Russia accepts bonds of the credit institution in question as collateral; has the right to work with the Pension Fund of the Russian Federation and can attract its funds into trust management, into deposits and savings for housing provision for military personnel; has the right to work with non-state pension funds implementing compulsory pension insurance , and can attract pension savings and savings for housing for military personnel; has the right to open accounts and deposits in accordance with Law 213-FZ of July 21, 2014. , i.e. organizations of strategic importance for the military-industrial complex and security of the Russian Federation; to a credit institution authorized representatives of the Bank of Russia have been appointed.

Liquidity and reliability

A bank's liquid assets are those bank funds that can be quickly converted into cash to be returned to their depositor clients. To assess liquidity, consider a period of approximately 30 days, during which the bank will be able (or not be able) to fulfill part of its financial obligations (since no bank can return all obligations within 30 days). This "portion" is called the "estimated outflow." Liquidity can be considered an important component of the concept of bank reliability.

Brief structure highly liquid assets Let's present it in table form:

From the table of liquid assets we see that the amounts of funds on hand, funds in accounts with the Bank of Russia, NOSTRO correspondent accounts with banks (net), interbank loans placed for up to 30 days have changed slightly, the amounts of highly liquid securities of the Russian Federation, highly liquid securities securities of banks and states, while the volume of highly liquid assets taking into account discounts and adjustments (based on Directive No. 3269-U dated May 31, 2014) increased over the year from 324.54 to 393.22 billion rubles.

Structure current liabilities is given in the following table:

During the period under review, what happened to the resource base was that the amounts of deposits of individuals with a maturity of over a year, other deposits of individuals (including individual entrepreneurs) (for a period of up to 1 year), their own securities changed slightly, the amounts of deposits increased and other funds of legal entities (for a period of up to 1 year), interbank loans received for a period of up to 30 days, the amounts decreased significantly, incl. current funds of legal entities (without individual entrepreneurs), correspondent accounts of LORO banks, interest payment obligations, arrears, payables and other debts, while the expected cash outflow increased over the year from 308.10 to 364.52 billion rubles.

At the moment under consideration, the ratio of highly liquid assets (funds that are easily available to the bank within the next month) and the expected outflow of current liabilities gives us the value 107.87% what does it say good safety margin to overcome the possible outflow of funds from bank clients.

In correlation with this, it is important to consider the instant (N2) and current (N3) liquidity standards, the minimum values ​​of which are set at 15% and 50%, respectively. Here we see that the standards H2 and H3 are now at sufficient level.

Now let's track the dynamics of change liquidity indicators during a year:

Using the median method (discarding sharp peaks): the amount of the instant liquidity ratio H2 during of the year quite big and tends to increase, however, over the last half year tends to decrease, the amount of the current liquidity ratio N3 during of the year tends to significant growth, however, for the last half year tends to increase, and the expert reliability of the bank over the course of of the year tends to remain virtually unchanged, however, over the past half year tends to increase slightly.

Other ratios for assessing the liquidity of the bank JSC UNICREDIT BANK can be seen at this link.

Structure and dynamics of balance

The volume of assets generating income for the bank is 90.11% in total assets, and the volume of interest liabilities is 81.29% in total liabilities. The volume of profitable assets approximately corresponds to the average for the largest Russian banks (87%).

Structure income-generating assets on this moment and a year ago:

We see that the amounts of Interbank loans, Loans to legal entities, Loans to individuals, Bills have changed slightly, the amounts of Investments in leasing operations and acquired rights of claim, Investments in securities, and the total amount of income-generating assets have increased significantly increased by 8.9% from 1230.67 to 1339.78 billion rubles.

Analytics by degree of security issued loans, as well as their structure:

Analysis of the table suggests that the bank focuses on diversified lending, the form of security of which is property pledges. The overall level of loan security is quite high and possible loan defaults will likely be offset by the volume of collateral.

Brief structure interest obligations(i.e. for which the bank usually pays interest to the client):

We see that the amounts of Bank Funds (Interbank Credit and Correspondent Accounts), Legal Funds have changed slightly. persons, Deposits of individuals. persons, and the total amount of interest obligations increased by 11.7% from 1081.97 to 1208.68 billion rubles.

You can consider the structure of assets and liabilities of UNICREDIT BANK JSC in more detail.

Profitability

Profitability of sources of own funds (calculated from balance sheet data) decreased over the year from 5.61% to 0.61%. At the same time, return on equity ROE (calculated using forms 102 and 134) decreased over the year from 18.64% to 3.02%(here and below the data are given in percentage per annum as of the nearest quarterly date).

Net interest margin decreased over the year from 3.07% to 2.67%. The profitability of loan operations decreased over the year from 7.91% to 7.69%. The cost of funds raised has increased over the year from 4.08% to 4.43%. The cost of borrowed funds from banks increased over the year from 5.46% to 6.80%. The cost of funds of the population (individuals) decreased over the year With