Rus News Journal

Foreigners take out daughters from Russia

As well as in crisis of 1998, foreign banks have started to leave the Russian market. About intention to reduce participation in Russian daughters yesterday has declared Swedish Swedbank. Under the information the same decision can accept Dutch ING Bank. According to participants of the market, all by the current moment process of leaving of Russia three actively consider - four foreign players - at their parent structures are not present financial possibilities for maintenance of the Russian business.
about intentions Swedbank to reduce participation in Russian (and Ukrainian) affiliated companies yesterday has reported Reuters referring to the representative of the Swedish bank Anna Sunblad. The bank thus tries to optimise expenses after substantial damages in the first quarter, caused by recession in the Eastern Europe. The bank has allocated almost 7 mlrd the Swedish crones ($898 million) for reserves under problem credits in the countries of Baltic and in Ukraine. According to madam Sunblad, the bank plans to sell the share or its part in Russian and Ukrainian daughters to other banks or the partner in business in Russia - the European Reconstruction and Development Bank (15 % in Russian Svedbanke own). Share Swedbank in Russian " can be how much lowered; to a daughter in a press - to service of the Swedish bank have not informed. In Russian Svedbanke and in the European Reconstruction and Development Bank to comment on a situation or to inform additional details could not.

from the crisis beginning about reduction of participation of foreign banks in Russian daughters speeches did not go. New transactions almost was not: in crisis there has passed the unique transaction on purchase of Juniastrum of bank Bank of Cyprus, two preparing transactions Israeli Hapoalim with SDM - bank and Chinese Bank of Communications with Rosevrobankom have broken. However the share of non-residents in the Russian bank sector following the results of the first quarter has reached record 31,2 % for the account dokapitalizatsii large western banks Russian daughters .

Till May, 2007 Svedbank worked in Russia under Hans`s brand - bank and was a daughter Estonian Hansabank (head structure of Swedish Swedbank. Then Hansabank has transferred stock belonging to its in the capital of Svedbanka in favour of Swedbank. Swedes posess 85 % in the capital of the Russian bank, the others of 15 % of actions - at the European Reconstruction and Development Bank. 80 % of a credit portfolio of bank occupy loans to corporate clients.

under the information Swedbank - not the unique foreign bank reducing presence in the Russian market. The following most probable applicant for leaving from the market participants of the market name Dutch ING Bank which ING Bankom (Eurasia) owns in Russia. About its intentions to reduce participation in the Russian market has informed a source in large western bank. they have made the decision on leaving from the Russian market - has declared yesterday a source in one of regulators of the financial market. That ING leaves the Russian bank market, the head of one of the largest Russian rating agencies knows also. In the Russian ING Banke have refused comments, having advised to address in the head company. in April we declared strategic plans on transformation of our company into less difficult on structure and quantity biznesov. In this light we reconsider our portfolio of actives and already declared that it can lead to our exit from 10 - 15 actives. We count that incomes of these sales the next years will make 6 - 8 mlrd - has declared head of public relations ING Group of Rajmond Vermelen, having refused to make comments on details of these plans. Means are necessary ING Group for indemnification of losses which it bears already the third quarter successively. According to the yesterday`s message of bank, for the first quarter 2009 they have made 793 million Bank already has informed officially on turning of retail business in Ukraine. And recently it has been declared sale belonging ING the Russian not state pension fund.

Russian a daughter ING Group - ING Bank (Eurasia) it is created in 1993 and specialises on the organisation of financing and depozitarnyh services for large corporate clients, is the market - the maker of the currency market and the active player of the market of interbank credits. In September, 2008 the bank was going to speed up work on a securities market.

participants of the market predict that to two foreign players who have left the Russian market in crisis, business will not be limited. I know that an order of four - five large foreign banks, in main European, variants about sale of the business in Russia seriously consider or corresponding intracorporate decisions have already made, - tells bank preboards the International financial club Alexander Popov. - in one cases it is connected with requirements of national regulating bodies. There are governments which give to problem banks the capital under certain conditions which assume use of the received resources on maintenance of own economy. In other cases the desire to close bank business in Russia is connected with shortage of the capital at the head company .

Foreign banks already left the Russian market in crisis of 1998. Then in connection with heavy losses the Russian divisions have reduced Citigroup, Credit Suisse, UBS, Morgan Stanley. Thus Lehman Brothers, JP Morgan, Goldman Sachs, Merrill Lynch and Nomura in general have left from the Russian market. The scenario of leaving from the Russian bank market of the Russian players within the limits of current crisis hardly will repeat 1998. in 1998 banks left home because in Russia it was bad, and there it is good, - the analyst " marks; VTB the Capital Dmitry Dmitrys. - it is now bad everywhere. Therefore only for whom rescue of parent structure at any cost " is critical now can leave;.

, ELENA - PASHUTINSKY, SEDA - EGIKJAN, TATYANA - ALESHKINA