Rus News Journal

Rusfinans Bank searches for means for credits

next Friday Open Company Rusfinans Bank entering into the international bank group Societe Generale, will begin placing of bonds for the sum at a rate of 4 mlrd roubles. The bank intends to spend the involved means for delivery of consumer credits. Analysts predict a great demand on securities of the Russian bank, however disperse in forecasts of profitableness of bonds. On February, 16th Open Company Rusfinans Bank intend to mark on the Moscow Interbank Stock Exchange of 4 million bonds (on 1 000 roubles for everyone. - ) and to involve with that 4 mlrd roubles. Release of these securities is already registered by the Central Bank of the Russian Federation (Department of licensing of activity and financial improvement of the credit organisations. - ), the organizer of release of bonds became IK the Three Dialogue . Release of bonds allows to involve means in the necessary volume, promptness interesting us and profitableness, and their placing - to diversify our sources of financing and to form public credit history - the chief of exchequer of Open Company " has told; Rusfinans Bank Guram Kudryavtsev. In bank as have underlined that means from placing of bonds will be directed on financing of our principal view of activity - delivery of consumer credits.
the financial company of Open Company Rusfinans - 100 % the affiliated company of the bank group Societe Generale operating in the Russian market since August, 2004, specialises on granting of consumer loans to physical persons. In July, 2005 group - through Rusfinans - has finished the transaction on purchase of 100 % of shares of participation in Open Company authorised capital stock Commercial Bank promek - Bank (Samara) at group JUICE . In February, 2006 promek - Bank has been officially renamed into Open Company Rusfinans Bank . The incorporated structure including Open Company Rusfinans and Open Company Rusfinans Bank SKT specialises on consumer crediting in two basic directions: direct sales (crediting through the Internet, by mail and by phone) and through commercial partners (autodealers and retail trading networks). The incorporated network of the uniform organisation provides presence at 55 regions of Russia. On August, 17th the chairman of the board of Open Company Rusfinans Bank Dmitry Klimov who has replaced on this post of mister Antoine Vanne is appointed. Under the information , appointment of mister Klimov is connected with proceeding process of integration: in July, 2006 Societe Generale has got 100 % of actions of Bank Capital Credit Association specialising on autocredits over which Dmitry Klimov earlier supervised. By data for January, 1st, 2007 the balance currency has made more than 23 mlrd, the bank capital - nearby 6, 3 mlrd roubles

Release of securities is traditional way of financing of banks, whose strategy is connected with crediting of physical persons - the head of practice considers risk - management Energy Consulting Elena Rozanova. In its opinion, profitableness will be defined on a competitive basis in the course of placing of bonds, as a rule, considering high enough reliability of such papers, profitableness does not happen very high . According to analysts IK finam it will be bonds of the second echelon - liquid enough, but all - taki less attractive in comparison with papers of larger companies. Taking into account last placings Rusfinans Bank the coupon rate under bonds hardly will exceed 7,5 % annual . Is More optimistical in the estimation IK the Three Dialogue Which experts consider that Open Company bonds Rusfinans Bank concern the first echelon, and their profitableness will make 7,8 - 8,1 %. Daughters large foreign banks seldom let out rouble bonds (before them let out only KMB - Bank, MMB and the European Reconstruction and Development Bank. - ) so demand for these papers is high. Besides the risk of these bonds is considered as made risk Societe Generale - the analyst under promissory notes IK " considers; the Three Dialogue Alexander Kudrin.
according to the experts, the bonded loan will act for bank as the cheapest source fondirovanija, at least because the most part of the occupied money will go on strengthening of positions of bank in a segment of retail crediting, that is the bank will place them under much bolshy percent, than will involve - consider in finame . According to madam Rozanovoj, considering that Proprietors of bank are IFC and Societe Generale, and accordingly - the bank has high enough credit rating against other Russian banks, and also in view of maintenance under the given loan - risks on it will be insignificant . As a whole, under forecasts of analysts, most likely, the bank will successfully place the bonds. It already has public credit history, good ratings from the international agencies, transparent strategy of development, and all it is positively perceived by investors.
Elena Kolycheva