Bank "Finance and Credit": reviews and problems

In 1991, the "Ukrainian Commercial Bank" was formed. In 4 years it was renamed into "Finance and Credit". For a long time, the credit institution was functioning without problems. In 2013, the bank took the 13th place in the list of NBU in terms of assets. The main shareholder is OOO Askania (45.92%), ChAO F & C Realty (41.58%), and the beneficiary - businessman Konstantin Zhevago. Since 2014, the rating of the bank "Finance and Credit" has fallen sharply due to solvency problems.

Financial results

For the first quarter of 2015, the bank 's assets increased by 21.2% due to the growth of deposits (by UAH 3.310 billion). At the same time, the loss amounted to 715.7 million UAH, which is 13 times more than in the previous year. Due to the difficult economic and political situation in the country, many customers can not fulfill their obligations to the bank. Therefore, the amount of expenses for the formation of reserves increased 3-fold: from 211.9 to 688.4 million UAH.

Bank "Finance and Credit": problems with deposits

The last year was very difficult for Ukraine in general and the banking sector in particular. Following the collapse of the organizations Ukrgaz, Rodovid, Brokbiznes and Nadra, the Finance and Credit Bank may disappear from the Ukrainian market. Comments of worried investors in the forums and constant strikes in front of the building of the NBU only inflame the situation.

For a long time, shareholders were able to hide the complex financial situation of the organization. The problems began when the dollar disappeared from the exchangers. The Bank "Finance and Credit" (Ukraine) has stopped paying its deposits to clients, citing the lack of currency at the checkout. In response to any comments, employees offered to enroll in the queue for the issuance of dollars. At the same time, the maximum that the client could count on is a chance to get $ 100. Not the money itself, but only an opportunity. At the same time, the bank "Finance and Credit" first returned currency deposits to customers in UAH using the official NBU rate. The difference with the market rate was colossal, so not many agreed to such a scheme. Then they stopped giving out deposits at all. Both hryvnia and foreign currency.

Help from outside

To all questions of clients, employees answered that the "Finance and Credit" bank was expected to be refinanced, and offered to call back after a few days. According to the Central Bank, negotiations on capitalization have been conducted since 2014. But then the main beneficiary refused to pour money into the institution.

But in February 2015, the NBU provided the organization with a stabilization loan in the amount of UAH 700 million. With a maturity of 2 years under collateral - an integral property complex. And in June 2015, at an extraordinary meeting of shareholders, it was decided to increase the authorized capital by placing additional shares for a total of UAH 1 972 billion. The primary shareholders in the right to purchase corporate rights are: Askania Ltd. and F & C Realty.

Bank "Finance and credit": customer reviews

Although under the refinancing program the lending institution received a certain amount of money to restore liquidity, customers still have problems. The funds of legal entities are frozen, without any movement. Individuals can not withdraw from the card amounts exceeding 2 thousand UAH. in a day. At the same time, information appeared that the interest on deposits was paid by the bank "Finance and Credit". The clients' testimonials confirm that the money really came to the card account. But luck is not for everyone, but only for those who agreed to prolong the term of the contract. But they do not forget about their debtors in the bank. The credit organization does not spend a lot of time on the sale of the right to demand a debt to the collectors, and itself submits a claim to the court. As a result, customers have to pay huge amounts of delinquencies and penalties, which at times exceed the basic debt.

Expert tips: how to get money back

Lack of liquidity is experienced not only by the bank "Finance and Credit". Problems with solvency affected dozens of major institutions of the country. But experts say that it is possible to return money without resorting to court.

Method one: exchange a deposit for a loan

This scheme will work only if both products are registered in the same branch of the bank. But the nuances need to be discussed directly with the representatives of the credit institution. Several years ago, the exchange scheme was offered to third parties. The owner of the deposit re-wrote to the borrower his contribution. The beneficiary applied to the Finance and Credit Bank (Ukraine) with a request to credit the savings against the loan. Then the borrower in cash paid the depositor the amount of debt on the loan. As a result, the former got rid of debt, and the second received live money. The discount could fluctuate within 20-50%. But even with such a difference, people could pay off with a mortgage of 500 thousand UAH, paying half that amount in cash. But the lack of legal regulation of such relations allows either party in the litigation to challenge the transaction.

Method two: write complaints to the NBU

If a credit institution appreciates its reputation or does not want to build up relations with the regulator, then such actions can motivate to return funds to the client.

Convert deposits to shares

The state of the Finance and Credit Bank is unsatisfactory and requires additional injections. Therefore, the founders decided to increase their equity by issuing shares. Recently, the NBU has offered its depositors to exchange their deposits for shares of the credit institution. Greater enthusiasm among the population this proposal did not cause. Why ordinary citizen corporate securities of the bank? Even in Cyprus, where in the pre-crisis times the sector was well developed, such a proposal was perceived negatively. In Ukraine, with a weakly functioning stock market, such news can only entail an additional outflow of capital.

Court as a way out

Not many clients agree to file a claim themselves. Especially if the costs exceed the amount of the deposit itself. Judicial practice shows that in most cases the decision is made in favor of the client. Indeed, the non-return of the deposit is a violation of Article 382 of the Criminal Code of Ukraine. And for today this is the most effective method of debt collection.

Lawyers advise to prepare for this process in advance and start communication with the bank only in writing. First, you need to apply for a request to terminate the deposit agreement (the deadline for filing it is specified in the document). The application must be sent either by a valuable letter by mail or written in duplicate. On the second there must be an incoming number, the date of registration of the paper. If after the termination of the agreement the credit institution does not issue money, referring to different reasons, it is necessary to address with complaints to the bank's chairman and the NBU. Already after this it is worth applying to the court.

The claim should specify not only the demand to return the deposit amount and interest, but also to insist on the payment of penalties for violation of the deadlines (usually 0.001%, maximum 10% of the deposit amount). Do not forget about compensation for moral damage, about the penalty for late payment. There is a chance to sue 3% of the arrested amount, and also to cover inflation.

The lawsuit can take a long time (from several months to several years) and money. Normative expenses include court fees (1% of the amount of the claim, a maximum of 3654.00 UAH). The costs of legal assistance, where the spread of prices is very high, can be recovered from the defendant.

Top managers in the answer

The most desperate clients submit a petition with a request to make the responsible official out of the country, to hold him criminally responsible and to confiscate part of the property against the unpaid deposit. This scheme requires a long pre-trial investigation, decision-making and enforcement of the verdict. The problem here is that the defendant may simply not have sufficient assets to pay the debt on the deposit with interest. Second nuance: the plaintiff must necessarily prove that the top manager deliberately failed to comply with the court's decision. This takes months. However, lawyers insist that this method of fighting for deposits is legal, and investors have a chance to win a lawsuit.

Reliability of the bank "Finance and credit" has greatly decreased. The most affected customers from the Donbass and Crimea. Despite the legal proceedings won, the client can not return its funds to this day.

Opening a criminal case against a top manager does not guarantee receipt of a deposit with interest. But this will definitely force bankers to listen to people's problems and start solving them. If you do not do anything at all, then payments can or do not wait, or receive funds from the Deposit Guarantee Fund.

Who should sue

Refunding of the bank "Finance and credit" of the expected result has not yet yielded. The longer the NBU pulls with the introduction of the provisional administration, the more difficult it will be to receive money. Clients whose deposit amount does not exceed UAH 200,000 guaranteed by the state will get their money anyway. The question is only when. But large investors should hurry with the lawsuit and file suits before the introduction of the interim administration.

Conclusion

Because of the difficult economic situation in the country over the past year, 5 major institutions have left the market. The next step is the bank Finance and Credit. Clients' feedback confirms that recently it has become very problematic to receive a deposit and put interest on it. Clients are explained that because of a lack of money in the bank to return the savings on time will not work. Experts advise in such cases either to exchange the deposit for a loan, or to file a lawsuit and prepare for a lengthy litigation and additional financial expenses. At the same time, if the deposit exceeds UAH 200,000, then it is better not to delay the litigation process.