Sudostroitelny Bank: problems, reliability rating

Sudostroitelny Bank was founded in 1994 in Moscow. The organization is the parent company of a financial group, which includes ZPIF "MART RIELTI" and SB Debt Issuance Limited. As a result of repeated re-branding, the institution received a short name OOO CB SB-Bank. The organization has well proven itself as actively developing, oriented to corporate clients. It takes 80th place in the top hundred and the third - in the national rating.

Sudostroitelny Bank: Problems

The reputation of the institution began to deteriorate at the end of 2014, when the accounts of individual entrepreneurs and legal entities were frozen. At the forums, people complained about the unsettled payments made by CB Sudostroitelny Bank. Customer testimonials indicate a large number of problems due to untimely payment of taxes, formed penalties and spoiled relations with counterparties.

Although some of the payments were still made. On January 14, 2015, the operations commissioned on December 26 took place. By law, the transaction is allocated three days. Due to the fact that Sudostroitelny Bank does not make payments, most customers were forced to abandon the services of the organization. At the same time, many people note the benevolent attitude of employees who advise on closing the accounts, which is not entirely standard for such a situation.

Shortly there were complaints from those who decided to continue cooperation with LLC CB "Sudostroitelny Bank." The problems were aggravated when the organization began to change the date of the application for payments in the "Personal Account" .The system specifies the time when the payment was generated, received for processing and These dates were updated daily.

The shipbuilding bank tried to solve the payment problems by opening a file of unprocessed operations. Specifically for this purpose, a new account was created 47418. It reflected the operations accepted for execution and sent to the Central Bank, but due to lack of funds on the correspondent account, these transactions were moved to a separate file cabinet. Updating the daily data, the bank tried to reduce the number of requests in the card file. But when unloading a technical file, you can see the actual dates for the formation of documents. As a result, on January 27, the institution was completely disconnected from the electronic transaction system by the Central Bank.

Advertising campaign

To remedy the situation, stop the outflow of capital and reduce the money supply deficit, the organization began to offer individual conditions for deposits. Most individuals who did not know about the problems have concluded new fixed-term contracts. And when the validity period ended, it turned out that the Shipbuilding Bank does not make payments and does not return deposits. At that time, the temporary administration was already operating.

New limits

Restrictions were imposed on the issuance of cash without a preliminary order of payment: from ATMs - 40,000 rubles (even with Premium + banknotes) and 100,000 for other customers. For those who wished to receive large sums, it was necessary to make an order for 100 thousand rubles a day. At the same time, the bank representatives claimed that there were always restrictions on withdrawing cash. It's just that the limits have changed now. In 2013, without a preliminary request, it was possible to withdraw 1 million rubles. In 2014, this amount decreased by half, and by 2015 it was already 300 thousand rubles.

Rating

The fact that the bank is experiencing problems with liquidity, for many customers was a complete surprise. As early as 2014, the National Rating Agency assigned the institution an "AA-" rating. At the end of the year, with the regulator's permission, equity capital was increased through the transformation of subordinated loans. In December, an active advertising campaign was held to attract deposits to Sudostroitelny Bank. The reliability rating only in early 2015 has dropped to the level of "C". But even then in public sources there was no information about violations in the activities. Therefore, depositors and extended their deposit agreements.

Clients stood up for protection

Not wishing to part with the favorite institution, investors wrote a letter to the Central Bank asking not to liquidate the bank. In it, the view was expressed that liquidity problems arose due to the collapse of the national currency, an increase in the refinancing rate. But ordinary customers are not able to anticipate such changes and assess their risks. In such a situation can be any credit institution of the country. It is not necessary to liquidate it. But these measures did not work.

Revoking a license

On February 16, 2015, a statement appeared that it was not possible to involve the DIA for the improvement of the organization on reasonable terms. Therefore, a decision was made to withdraw the Sudostroitelny Bank from the market. The license was withdrawn on the same day.

Causes

According to the Central Bank, the organization had a very low quality of assets, as the funds received from individuals were invested incorrectly. This led to a complete loss of capital and a failure to fulfill obligations to creditors. Moreover, the bank provided unreliable reporting, which concealed existing problems. The owners did not try to improve the situation.

The institution for a long time was an active participant in repo transactions on the stock exchange (Moscow). Sudostroitelny Bank twice failed to fulfill its obligations in January 2015. The total debt amounted to more than 2 billion rubles. Because of the economic crisis, securities in which the funds were invested have depreciated. There was a margin call: the bank was unable to deliver money and collateral to the Central Bank. Because of such problems in 2008, Svyaz-Bank was rehabilitated, and "KIT-finance" was liquidated.

After the margin call, the problems in LLC CB Sudostroitelny Bank were only aggravated, the clients' testimonies confirm that the companies tried to return the funds.The exchange changed its attitude to the institution conservatively, as the bank issued medium-term and long-term loans to legal entities, and a low turnover of the loan portfolio. It was not possible to normalize liquidity from the inflow of funds on loans.

Representatives of the bank argue that the problems arose because of the revaluation of federal loan bonds. On December 16, OFZ bonds with a maturity in 2028 lost 53% in the day, and earlier (December 2019) - to 65.1%. According to unofficial data, the increase in funds to the Central Bank amounted to more than 2 billion rubles. All the banks that operate on the pyramid of REPO collided simultaneously with two problems: raising the CBR rate and increasing the collateral on the exchange. Specifically, the Shipbuilding Bank 12% of liabilities were attracted to securities.

Under the law, if the bank is unable to meet the creditors' claims within two weeks, the Central Bank may revoke the license. Which, in fact, happened.

Refund of deposits

The shipbuilding bank, whose problems it was not possible to resolve, will be liquidated within two years. The first payments to depositors began on March 2. Since the bank participated in the deposit insurance system, customers can receive 100% of the deposit, provided that its amount, taking into account interest, does not exceed 1.4 million rubles. First of all, the deposits of individuals will be repaid. The total amount of deposits is 21.8 billion rubles.

Conclusion

At the end of 2014, Sudostroitelny Bank faced problems with liquidity. As a result, the accounts of many legal entities and IPs were frozen. Due to the poor quality of the loan portfolio, it was not possible to restore the situation on its own. And the Central Bank refused to sanitize the institution.