The URALSIB Bank repaid the most expensive loan in the amount of 14 billion rubles obtained to reorganize the Agency on insurance of contributions (ASV). He was issued five years ago at 6% per annum, but in the current environment, reducing the cost of borrowing such rate does not look comfortable. The remaining debt, issued for ten years at 0.51% per annum, the Bank plans to repay within the set deadlines — in the years 2025-2029.The Bank “URALSIB” for the year to the end of the term repaid a loan from ASV, paying RUB 14 bn, the Bank said. A six-year loan at 6% per annum was issued in 2015. “The financial recovery procedure is successful, and the financial recovery plan is running ahead of schedule,” explained the Bank’s decision on early redemption. At the end of the first quarter of 2020 the debt “URALSIB” before DIA was 91.9 per billion roubles, thus the debt will be reduced to 77.9 billion RUB the Remaining loans scheduled to be repaid in accordance with their contractual term — all of them ten years with a rate of 0.51% per annum. So, in November 2015, the Bank received a loan in the amount of 67 billion rubles, in 2017 — 9.5 billion rubles., in December 2019 by 1.4 billion rubles. Traditionally, loans from the DIA, which are issued at a low rate, at 0.5% per annum. “To close problems in balance, within a certain time the Bank will invest the cheap money and thus accumulate profit in order to cover the losses,” says Fitch analyst Anton Lopatin. While the liquid assets Ratio at the end of June amounted to about 160 billion rubles., from the point of view of liquidity, the repayment of the loan negative effect was not provided, he adds. Historically, rehabilitation on the old scheme — through DIA — were not always effective, banks are often asked for additional money in the capital, and also had to sanitize and banks-sanatory. “Therefore, the refund from the DIA — it is rather an illustration of successfully undergoing rehabilitation and, as history shows, knocked out a number of the case,” concluded Mr. Lopatin.In case of reorganization of URALSIB atypical for the banking market. Unlike standard schemes of reorganization in this case was declared the investor for the financial rehabilitation of the Bank. The turnaround was selected as a businessman Vladimir Kogan, which originally received for the restoration of financial stability of the Bank loans from the DIA on 81 billion rubles, and 81 percent stake in the Bank. This was the first in the history of sanctions the case where financial restructuring of the Bank has engaged individual. After the death of Mr. Kogan its share in the Bank passed to his widow Ludmila. 11,35% remains with the former Bank of the beneficiary, Nikolay Tsvetkov, 6,84% — in minority aktsionirovanija Cherenkova
