Bank "Ugra", whose problems were only temporary, appeared in 1990. In the financial services market, the institution has flourished for the past 20 years. The main difference of the enterprise is a good and high-quality service, a chic list of financial services and an abundance of products for material prosperity and building your own business. The banking enterprise is an official member of the SWIFT system, which already speaks of its excellent reliability and professionalism. High status is supported by the ability to make payments of an international type with the transfer of banking information inclusive.
Innovation Path
Bank “Ugra”, reviews of which for the most part are positive, in 2013 radically changed its activity policy. The new leadership has chosen the path of innovation and established an extraordinary active development policy. Today, a financial institution can be safely called a universal credit organization of federal rank. The work of the institution is focused on a wide variety of legal organizations and enterprises operating in various segments of the economy. The population gets the opportunity to experience the benefits of new service technologies and the chance to use advanced banking services. The dominant asset that stands out for Ugra Bank (St. Petersburg) against its competitors is customers. The most comfortable conditions for mutually beneficial and productive partnerships have been created. The main activity of a financial company is an active fundraising in the interests of both customers and shareholders.
Temporary difficulties in 2013
Ugra Bank had only temporary problems, and now they are already behind. I had to face troubles in 2013. Despite the fact that the financial institution was in the top 200 banks of Russia in terms of capital, deposits were temporarily suspended during this period. At the same time, it was reported that it is possible to both close the existing contribution and replenish it. Employees of the financial institution insisted that the reason was technical malfunctions, and as soon as the system was restored, the regulation would resume.
Depositor panic - lost interest
Depositors who panicked began to abruptly withdraw their deposits, terminating the agreements prematurely. An interesting fact is that there were no delays in payments, and Ugra Bank paid individuals' deposits in full and in accordance with the agreements. People lost interest due to excitement, although in fact there were no serious difficulties. The work of the financial institution was fully restored after a few weeks. The only “but” is a reduction in the interest rate on deposits after the resumption of functionality.
What caused temporary difficulties?
Temporary difficulties and minor inconveniences that both depositors and the bank management had to face were caused by an unscheduled check of the Central Bank. Representatives of the authorized instance were interested in deposit rates, which at that time were the largest in the domestic financial market. According to statistics, most banks that offer an overestimated rate on deposits experience financial difficulties and are on the verge of bankruptcy. Raising funds from investors on favorable terms is nothing more than trying to stay afloat. That is what interested regulators. The audit did not reveal any financial difficulties. The Ugra bank itself, whose problems were related exclusively to the unexpected audit, received soft recommendations regarding the reduction in the number of deposits accepted and instructions regarding the reduction of the interest rate. The response of the institution was immediate.
Digital statistics
In confirmation of the fact that Yugra (the bank) attracts deposits not with the aim of earning more before bankruptcy, but exclusively within the framework of its policy, reports were provided to the public, which attracted the attention of regulators. The thing is that after the adoption of an innovative activity strategy, a financial institution began to actively increase its loan portfolio. Thanks to the new advertising company, it was possible to attract deposits of 18 billion rubles in the first month, and 20.5 billion in the second. The loan portfolio increased almost 1.6 times. Yugra (bank) offered the most profitable deposits, but this does not mean that it was on the verge of bankruptcy; rather, it testified to an aggressive policy and a desire to conquer the Russian financial market.
Change of shareholders only benefited
By the end of 2012, a change of shareholders took place. At the same time, 6 people became the owners of the institution, who set themselves the goal of getting into the top "100 banks of Russia in terms of capital." At the time of the change of ownership, the reserve held by Yugra Bank, reviews of which had an exceptionally positive connotation, amounted to 4 billion rubles. It was planned to raise the figure to 7-10 billion rubles. Assets from the level of 27.3 billion rubles were planned to be increased to 50 billion rubles. In the near future, after the change of shareholders, the media reported on an increase in the authorized capital to 6.17 billion rubles. All these events took place within three months before the moment when authorities in August paid attention to the financial institution.
History repeats itself
An unexpected check forced to radically change the policy of the bank. Interest rates on deposits were reduced from 12.4% to 6.5% per annum on ruble deposits. The reduction of rates took place in respect of foreign currency deposits. If earlier the bank "Ugra" (St. Petersburg) gave 7.9% per annum, today it offers no more than 2-3% depending on the package. In addition to falling rates, the program called Mobile Summer, which was the most profitable in the financial market, was prematurely closed. The Central Bank of the Russian Federation had every right to prohibit accepting deposits, but limited itself to a warning only. Throughout the history of its existence, the Central Bank has been actively fighting to lower rates as a result of falling inflation. According to representatives of public services, this approach to the situation provides new perspectives for bankers in terms of seeking liquidity. Similar measures were taken in relation to Sotsgorbank and Stroykredit, which also temporarily stopped accepting deposits for the duration of the audit and associated this with technical difficulties.
What do customer reviews say?
Bank "Ugra" (St. Petersburg, Moscow) is known to customers as one of the leaders in the banking sector. According to investors, the financial institution offers a wide range of various services and fully satisfies the needs of even the most fastidious customers. Those who decided to take advantage of the proposals of the financial structure do not stop talking about a convenient partnership format. We are talking about a huge number of branches, numerous ATMs and the latest technologies that allow you to carry out any operations as quickly as possible. A distinctive feature of the partnership, many call the daily accrual of interest on deposits, which allows to maximize the profitability of the latter. The Yugra Bank overcame temporary problems easily and simply. His high level of reliability is evidenced by the fact that he survived the crises of 1998 and 2008 with almost no loss.
Recognized by government
Ugra (bank, Moscow) was recognized not only by a large number of customers, but also by the state itself. The deposit insurance agency puts it on a par with Sberbank of Russia. In confirmation of this fact, we can say that after the deprivation of the Tyumenagroprombank license, its depositors (individuals) received compensation from the deposit insurance agency through Sberbank, and Yugra compensated the investor-entrepreneurs. The appearance in the list of agents just two years after reaching the federal level is a significant signal, which indicates one hundred percent trust in the financial institution by the state itself. During the crisis, when banks go bankrupt, and their management takes illegal measures to save their money, Ugra, a bank whose branches it is not difficult to find, not only found sources of financing, but also directed them to strengthen its structure. Capital did not “leak” in connection with the difficult economic situation in the country, but, on the contrary, increased. Ugra (Bank, Moscow) maintains a strong position, and its activities are aimed at the interests of customers. This makes this financial institution the most attractive for citizens of the country.