Tavrichesky Bank is notable for its average asset size, low liquidity level, and large corporate loan portfolio. Since the beginning of 2015, the rating of a credit institution has significantly decreased. Tavrichesky Bank is experiencing problems. What will happen next with the institution?
History
In 1993, the Tauride Bank was founded in St. Petersburg by nine manufacturing and commercial enterprises. Over time, the ownership structure has expanded greatly: the largest founder owns 15% of the shares, and the smallest - 3.73%. The network includes 19 offices, 35 operating cash desks in the capital, St. Petersburg, Cherepovets, Arkhangelsk region, the Republic of Komi and 470 employees. By the end of 2014, Tavrichesky Bank (St. Petersburg) was one of the hundred largest credit institutions in the country. The organization collected 20 million rubles in the form of deposits from individuals.
Products
Although the bank focused on the corporate sector, an interesting line of deposits was developed for individuals. The “Term” deposit with the possibility of replenishment and capitalization could be opened for a period of three to 12 months in national or foreign currency. The minimum amount - 10 thousand rubles - was accrued annually 12.5%.
Those who wish to experiment with the course could open a Multicurrency deposit for a period of six months at a simple interest rate of 12.7% for an amount of at least 50 thousand rubles in equivalent.
Other products of the bank were no less interesting. There is the possibility of early termination of the agreement with the payment of interest at full rate on almost all deposits. However, the partial withdrawal option was not provided at all. Deposit rates are high. But judging by customer reviews, not everyone can deposit 10 thousand rubles at once.
For quick access to the account, you could use the Mobile Banking application. The service is included in the SMS-informing service, which is connected even to a regular mobile phone. With its help you can:
- request a balance;
- generate mini extracts;
- block cards;
- recharge your phone;
- pay for services;
- receive details;
- Create custom payment templates.
First non-payment
In January 2015, the power grid company Lenenergo asked the Central Bank to sanction Tavrichesky. The company held about 10 billion rubles in the accounts of a credit institution. This corresponds to 20% of the liabilities of Tavrichesky Bank OJSC. Problems began in 2014, when customers were unable to withdraw money from salary cards. Then the bank explained that it was a technical malfunction. But Lenenergo feared that the reason was the low liquidity of the institution.
At the same time, S&P downgraded the organization's rating to the lowest level - CCC. According to the analytical service, Tavrichesky Bank (St. Petersburg) experienced a lot of difficulties: high risks on major loans, low capitalization, outflow of deposits. As it became known later, before the New Year the Central Bank considered the issue of reorganization of the financial institution.
Lenenergo - the main creditor
The share of the company belongs to local authorities. The Governor of St. Petersburg sent a request to the Central Bank to keep the license and sanitize the Tavrichesky Bank. The organization has problems, but they can be solved without liquidation. The regulator is ready to allocate 20 billion rubles, but taking into account the compensation of Lenenergo, an additional 17 billion rubles is needed. (15 billion for the payment of deposits and another 2 billion are stored in current accounts).
Tavrichesky Bank: problems
As of February 1, 2015, the organization had 48.5 billion rubles. in the form of assets. 90% of the loan portfolio is distributed between Tavrichesky IC and the distillery. Both organizations have not repaid debt since the summer of 2014. In February, the investment company was completely liquidated. So the state of the bank’s assets leaves much to be desired.
Wellness
The regulator found five applicants for the role of sanatoriums, among them was the International Financial Club. The organization has always been interested in the possibility of working with distressed assets of institutions that need improvement. Together with this organization, Baltinvestbank applied. It was planned that the IFC will deal with the problems of a credit institution, and the second sanatorium, Lenenergo.
Tavrichesky Bank, whose problems started back in 2015, was also interested in Russian Capital and IIB. Both organizations applied for participation in the process of rehabilitation of a credit institution. However, in March, IFC was selected as a sanatorium. According to the plan, the investor establishes full control over the bank, and upon completion of the process in 2022, it joins the IFC. To restore liquidity, the Deposit Insurance Agency is ready to allocate a loan of 28 billion rubles for 10 years.
First results
Bank Tavricheskiy was able to resolve problems with some large customers who are interested in improving the credit institution himself. As a result of negotiations, it was decided to transfer the obligations of IDGC of the North-West and Lenenergo into subordinated deposits. Tavrichesky returned another 6 billion rubles to the electric grid company. In addition , the sanatorium asked clients not to take current deposits.
A month after the appointment of IFC, Tavrichesky Bank resumed operation. Deposits, which had already reached maturity by April 2015, were reallocated. Most of the clients preferred to take deposits. To this end, electronic queue lists have been developed. Judging by customer reviews, some investors withdrew their lawsuits.
Investigation
In June 2015, searches were conducted at the offices of Lenenergo and Tavrichesky. The former director of the electric grid company was detained on suspicion of abuse of authority. A criminal case under art. 201 of the Criminal Code. The task force at the company’s office checked documents related to Tauride. The bank also conducted investigative actions to verify one of the customers.
Conclusion
Another institution came under the healing process. This is the Tauride Bank. Problems in the financial organization began at the end of 2014, when customers were unable to withdraw money from salary cards. Then representatives of Lenenergo turned to the Central Bank with a proposal to sanitize the bank. IFC is involved in the process, to which DIA has allocated a loan of 28 billion rubles for 20 years.