Rus News Journal

At the WHALE of Finansa raises Well-being

the WHALE of Finans has opened definitive structure of new shareholders: control over it will be received by affiliated structures of the Russian Railway. Experts consider that the monopoly will want to sell bank business, however it can have difficulties with realisation of the active most interesting to investors - a portfolio of mortgage loans.
in September the buyer of bank the WHALE of Finans appeared on the verge of bankruptcy, has been declared UK the Leader (see from September, 18th). Obligations the WHALE of Finansa has helped to execute the Gazprombank which has given out to it the credit at a rate of 22,5 mlrd rbl. However the transaction have broken for the unknown reasons. Thus in October - November the Gazprombank has increased a credit limit the WHALE of Finansu to 41 mlrd rbl. On Thursday the vice-president of Gazprombank Alexander Sobol has informed that the Gazprombank has given support to five problem banks for a total sum 100 mlrd rbl., from which more than 50 mlrd rbl. - to bank the WHALE of Finans . On October, 8th the purchaser of 90 % of actions the WHALE of Finansa the consortium of investors as a part of YOKES ALROSA and Russian Railway Open Society has been named. (See from October, 9th).

the Federal antimonopoly service has satisfied yesterday the petition of affiliated company of the Russian Railway KRP - Invest and investment group ALROSA about acquisition of shares in an authorised capital stock of the holding company the WHALE of Finans . According to the message the WHALE of Finansa it is expected that the transaction will be finished in the end of January, 2009. Yesterday the WHALE of Finans has opened definitive structure of new shareholders. On 45 % of shares HK the WHALE of Finans get YOKES ALROSA and KRP - Invest . 10 More % will get to the company The national capital which belongs affiliated companies NPF Well-being (one of its founders is the Russian Railway). Thus, the Russian Railway receives control over the WHALE Finansom . The holding company will be headed by the first deputy of department of the corporate finance of the Russian Railway Yury Novozhilov.

after acquisition by group of investors of 100 % HK the WHALE of Finans she, in turn, will buy more than 96 % of actions of investment bank the WHALE of Finans and then and other actives of group. Except commercial and investment banks into it enter the insurance company the WHALE of Finans Insurance NPF the WHALE of Finans a management company the WHALE of Fortis Investments . The holding company also owns a share holding Rostelecom .

Experts doubt that Russian Railway Open Society is interested in investments in the WHALE of Finans . In the long term we are going to sell partially bank business, and the investment bank will add to it costs - the head of the Russian Railway Vladimir Yakunin in October spoke. it was the fire variant, the active is got for a while, and now the monopoly will search, to whom it to sell - the main analyst of Alpha bank Natalia Orlova speaks. Most likely, business re-structuring is required, and crushing of balance of the holding company is not excluded, especially considering a variety of directions of its business - Ekaterina Trofimova marks the deputy director of Parisian office Standard and Poor ` s. As informed yesterday S &P has lowered long-term credit rating ALROSA, referring, in particular, to an ambiguity of financial prospects of participation of the diamond company in activity the WHALE of Finansa .

At business sale the WHALE of Finansa In parts investors the mortgage portfolio of commercial bank " first of all could interest; the WHALE of Finans participants of the market believe. it is very interesting active - the first vice-president of board of City savings and loan association Ruslan Iseev speaks. As of November, 1st its size made 42,3 mlrd rbl., have informed yesterday in a press - bank service. Following the results of last year (32,5 mlrd rbl.) The bank took the third place on volume of a portfolio after the Savings Bank and VTB. portfolio Sale can be impossible technically if it is a pledge subject under the credit - the representative " warns; daughters large foreign bank. In Gazprombank do not deny that credits the WHALE of Finansu were given on the security including mortgage loans.

in structure of other actives of the holding company the WHALE of Finans business on management of actives is far not the most attractive, especially in the conditions of crisis - the chairman of board of directors of the company " speaks; Kapital Evgenie Zajtsev. Actions " can interest investors; Rostelecom . The size of this package in the WHALE of Finanse yesterday have refused to open. Till September, when counterparts the WHALE of Finansa in a mass order sold transferred by bank as a deposit under transactions repo papers (see from September, 17th), experts estimated it in 38 - 40 %. Yesterday market cost of this package made about $1,8 billion