“ Shareholders who supervise 51 %, at banks does not remain “
the main proprietor MKB the billionaire Considers the Novel Avdeev
Today the Moscow credit bank (MKB) declares transaction closing on share sale in bank to two investors — the European Reconstruction and Development Bank and IFC. About why each bank should leave on IPO, the basic shareholder and a member of supervisory board MKB AVDEEV has told the NOVEL in interview to correspondents daily to EKATERINA BELKINOJ and CYRIL JACHEISTOVU.
— last year bank some times dokapitalizirovalsja. What plans at you on capital escalating this year on volume and at the expense of what?
— In May of the Central Bank has registered dopemissiju bank actions in volume 1,9 mlrd pieces a face-value 1 rbl. that there correspond 15 % of the increased authorised capital stock. On July, 20th we have signed the agreement that this dopemissiju in equal shares, on 7,5 %, redeem the European Reconstruction and Development Bank and IFC. The total amount of investments from two partners will make 5,8 mlrd rbl., thus, the bank has been estimated with the animator more than 1,2 to the capital. Before we wanted to agree with the Black Sea bank of trade and development (CHBTR) about converting subordinirovannogo the credit in the action, but time has not allowed.
— And why you have invited in shareholders CHBTR?
— We partners. It is development institute with which we work for a long time, we participate in their programs. On volume of those investments, offered money CHBTR we will not compare neither with IFC, nor to the European Reconstruction and Development Bank, but for us any investor is important.
— That is this question all the same remains?
— Yes. There the small sum — 600 million rbl., plans will hold good, is simple at us one transaction on another has accumulated.
— How you estimate cooperation with IFC and the European Reconstruction and Development Bank?
— I can tell that it was very intense and laborious work which was conducted more than a year. The European Reconstruction and Development Bank and IFC — they are highly skilled investors who participate in capitals worldwide. They have fulfilled procedures and rigid requirements. Cooperation with them has demanded from us additional disclosing of the information that, in general - that, is good from the point of view of preparation for public work. And new partners began to understand is better specificity of our business. We never before so it is deep with anybody did not communicate, because MKB did not put before itself a problem on attraction of investors. Therefore as a whole I estimate our cooperation with the international institutes as especially positive: any questions which arise at the qualified investors, not only give them understanding of our business, but also search of answers to these questions structures our own representation about a state of affairs.
— Some years bank considered different variants of increase in the capital, including ideas about IPO sounded. Why all - taki the choice has been made in favour of attraction of separate investors?
— Idea about IPO — it on - former the main idea. I considered and I consider that all banks operating in this country, should become public. I do not see the future for not public banks.
— how much public?
— I think that in long-term prospect of shareholders which supervise 51 %, at banks does not remain. That is free - float will be more than 50 %. Capitalisation, therefore there are no two ways about it, as a commercial variant of capitalisation of bank from own profit &mdash is required to banks; it is a deadlock way. Because the bank system occupies enough small volume from us in economy, the basic driver of growth — reduction of volume of bank system to economy volume.
— Taking into account the recent transaction, and also a market situation when can take place IPO MKB?
— It depends on the market. Throughout five years we IPO will make, in it at me no doubts are present. However at the bad market we on placing will not go — we have enough means, and this condition with partners is discussed. We will wait possibilities to receive the fair price which will suit us. Nevertheless to prepare we begin already now, in particular, the supervisory board included people with corresponding qualification and experience — Andrew Gazitua and Nicolas Haag. Purely technically to IPO we should be ready to the end of this year, a question available windows for placing. I think that it will not be, — in miracles I do not trust...
— If there will be no window this year, whether you are afraid to take place next year when on the market also leave the Savings Bank and VTB?
— the Question in free - float which they plan, — it not that volume which could satisfy demand in the international markets. Certainly, there is a struggle and a competition: as there will be a window, it will break all. But in the markets of the capital we are afraid of a competition, than directly in the bank market even less. At the State Banks is both the pluses, and minuses. To earn with us investors have more than prospect, but also risks it is more. The State Banks are stabler, but all saw national IPO VTB and that then happens.
— And you are not afraid of what after IPO the prices for actions will decrease?
— We will take all measures that it does not happen. Also it is all - taki depends on model of business which we conduct, — I think, this model will allow investors to feel good. We already conduct dense work with those who is ready to become the anchor investor or simply buyer of actions. With many partners it is necessary to adjust relations still to IPO.
— you now the unique owner of bank. Psychologically it is not heavy to you to let in other investors the capital?
— not hard. I am engaged in business, instead of I grow up bank as children. And business — it has not put my life.
— be not afraid, what on meeting of shareholders investors like Alexey Navalnogo will come?
— very well. Without speaking about institutional partners with which we have for a long time business - relations, I am not afraid also of new investors. At us absolutely transparent financial institution, and questions which we cannot answer, simply are not present. There are no secrets. If potential investors want to ask something, it can be made and now, and we will answer, for this purpose it is not obligatory to have actions.
— And where all to take investors?
— Abroad there are no problems with the capital market, there is a problem with effective institutes in Russia. If to look at all banks with the licence and to estimate their efficiency, it is possible to see a problem. However doubts concerning shortage of investors are not present. In the same way in 90 - e years were afraid that the earth in Moscow suburbs will not suffice, therefore it is necessary to buy dachku.
— you consider, what the banks, not managed to involve investors, will gradually disappear?
— Will disappear — it is very strong. Certainly, in bank sphere there can be nishevye players. The nishevyj player in my understanding is not public, does not work for clients, does not develop banking, and serves any financial group — it is simply unprofitable, however such banks can exist. I yet have not forgotten those times when banks was more than two thousand, and now — it is less than thousand. Their number is reduced, and it is bad. In my opinion, the present quantity of banks in Russia is quite adequate to the size of economy. Nevertheless many financial institutions are inefficient. To the banks which have not reached certain level, it is very difficult to involve the capital, the public markets for them are almost closed.
— How much bank business is fastened with business of your concern “ Rossium “?
— it is not fastened In any way. We the connected parties, on - to mine, have less 2 % from a credit portfolio. I initially adhered to a policy of independence different biznesov from each other. The monetary offer of the Moscow credit bank for the connected parties expensive enough.
— And the concern uses whose bank services?
— Services of the Savings Bank including. The state banks have cheaper offers. MKB in the portfolio also many clients divides with the Savings Bank and VTB.
— If to compare banks to other fields of activity, whether it is possible to tell what now to invest means in bank sector favourably?
— the Bank is perspective enough. In bank margin level rather average: if overworks 20 — 25 % on the capital — it is already good. In others biznesah it is possible to earn much more. But here business still in growth and exit prospects on the public market after which the business price can grow. But banks should become public, and invest means from others biznesov in bank on long distances irrationally.
— At bank ambitious plans for development on the nearest some years. You now do not feel crisis signs?
— Me often ask, whether there will be a crisis, I all time answer that will be, but a question when. All modern economic theory and all economic society operate from crisis to crisis. Crises happen, and to prevent them it is impossible. The Central Bank, the government and people now are more ready to crisis, than in 2008. It is important to trace risks of business, at us in bank a question risk - management key. At us now two basic directions which we watch closely: management of liquidity and management of risks. We do not endow profitableness to please to risk — we do not raise risks more than for myself have defined. When the situation is in a turbulence zone, the situation with risks becomes more healthy.
— How you look at Central Bank steps on toughening of requirements on reserves and the capital?
— taken measures entirely the correct. There there are nuances, but some of them are now corrected. It is impossible to grow at the expense of ignoring of problems which can arise. Central Bank actions are adequate to a present economic situation, I consider. Though the majority of bankers with me this point of view do not divide. If now to cancel regulation of the Central Bank and to make something like FRS and to tell to banks: “ you will do issue “ — it will strongly increase growth of bank system. Another matter in what it will result. At the Central Bank such role — to balance risks. There is a discussion: whether should the Central Bank answer legislatively for growth of economy or for inflation, for supervision over banks? My opinion — for economy growth.
— Under the Russian reporting, for the first quarter the bank has earned more than for all last year. Why there was such splash in profitableness?
— From the point of view of planning this year we for ourselves extraordinary have not seen anything. Another matter that in comparison with other participants of bank system we look well. But it is a competition question. Under our forecasts, the profit level this year at us will be 3,5 — 4 mlrd rbl. (in 2011 — 2,128 mlrd rbl. on RSBU. — daily).
— And at the expense of what? Reserves?
— we increase Reserves, because the credit portfolio grows. But in relation to a credit portfolio the volume of reserves does not increase. The profit is expected at the expense of a margin. To us gives confidence that fact that we in the first quarter have shown considerable profit, despite seasonal prevalence. Though I consider that seasonal prevalence — it is simple conversations.
— MKB is going to remain universal bank or all of you - taki intend to make active retail after capital increase?
— We universal bank — it is our strategy which will not change. Retail business now grows the big rates, than corporate, and this tendency will proceed, but here there is a limit. It would be ideal to have a parity of retail and corporate business in a portfolio 50 on 50 but while for us it is impossible. If to speak about development roznitsy we plan expansion to regions. Now we consider the big agglomerations: St.-Petersburg, Nizhni Novgorod, Krasnodar, Ekaterinburg, Novosibirsk. Possibility till 2016 is now considered to leave in 20 — 25 regions.
— You are not afraid, what in those regions where you want to come, the market between players is already divided?
— We are not afraid of a competition. Our foreign colleagues consider that in regions the competition is less, actually — it is more. But we know the competitive advantages and products with which we are going to enter the new markets. For example, to clients whom we collect in Moscow, we will offer also the services in regions. From the point of view of development roznitsy pressing question with balancing of risks and swindle cutting off. We here, in Moscow, have already well trained with it, I think that in regions too we will consult. Now swindle level in regions is less.
— Probably, just now it is less?
— Can be — all develops. At us very interesting situation. I compare payment discipline of the Russian clients and foreign — At us above payment discipline, than in Germany. But on level of swindle we advance, probably, even the African countries. The situation with swindle does bank services expensive enough.
— And what kinds of swindle are now most widespread?
— They are very quickly improved. One of widespread kinds still have swindle with use of counterfeit documents. However the society is computerised, becomes more electronic, and swindlers too move to this sphere.
— How you think, that does not suffice in the Russian market to lower level of swindle to level of Europe?
— It is very heavy question. Here the legislation at anything — it is a stability and well-being question, and also moral health of a society. To pass the law and to chop off hands — will not help. If for bank swindle to chop off hands, it will reduce number of crimes in banks, but will strengthen the general criminal conditions. Not false documents will use, and armored cars to plunder.
— Traditionally it is considered that in Russia low penetration of bank services in comparison with the developed countries. That does not suffice, that this penetration became above?
— First of all, it is connected with level of security of the population. When money only on products suffices the person, about any bank services and about any crediting of speech cannot go. Now level of security of the population grows, and big enough rates. In Moscow it is a question of offers bank — a price question. Here, on - to mine, all is good. In regions it is a lot of villages to which bank services in general are simply inaccessible. Business in communications, development of the Internet and understanding of people. Banks in the big degree associate, especially in regions, with dentists. The person knows, it is necessary what there to go that to it there will make well, but it would not be desirable to go. There Should be a crisis in consciousness. And idea that the bank is normal sector of economy that it not “ thick cats “ which plunder people and of them make profit. Crisis in consciousness needs time, and process goes. Also arises moral vopDews. Now we live in consumption area. Consuming services, the person consumes emotions. And the credit — it at first to consume, and then to earn. It as in “ Alise in the country of miracles “: it has at first cried, and has then pricked a needle. As to credits people, especially young and dynamical, it moves forward. But then, when it is necessary to give money, there is a question how much it is fair. Here again the question all - taki lies in the field of consciousness, but there are no two ways about it &mdash more; it is impossible to stop progress.