Alfa Bank registered its second subsidiary microfinance company
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Alfa Bank has registered its second subsidiary microfinance company (MFC). According to Kommersant’s sources, the company will concentrate on large collateral loans for citizens. The first micro-office of A Dengi Bank operates in the payday loan (PDL) segment. Lawyers fear that in this way banks may be trying to circumvent bans on lending to borrowers with high debt loads.
Alfa Bank has registered its second subsidiary MFC, as follows from the Unified State Register of Legal Entities. On October 13, the bank established the Alfa Finance company with an authorized capital of 200 million rubles. Kristina Melikyan became its general director. The bank already has a subsidiary microcredit company “A Dengi” (authorized capital 1.5 billion rubles, general director Oleg Grishin). MCC “A Dengi” offers clients PDL loans in an amount of no more than 30 thousand rubles. and for a period of no more than 30 days.
Alfa Bank does not comment on the creation of a new microfinance organization.
According to Kommersant sources familiar with the plans of the founders, the new company will concentrate on large retail secured loans of up to 1 million rubles. and even more. “The launch of such products by a bank may be intended to retain those clients who were denied a classic loan, as well as to attract new ones,” believes Elena Stratyeva, director of SRO MiR. This will allow the bank to retain clients who do not meet the debt requirements, and at the same time satisfy their need for borrowed funds as much as possible without the risk of losing business margins, Kommersant’s interlocutors agree.
According to the requirements of the Central Bank, the share of borrowers with a debt burden ratio (DLI) of more than 80% should not exceed 5% of the bank’s total loans, and the share of borrowers with a DLI of 50% to 80% should not exceed 30%. For MFOs the conditions are softer.
“The task of any business is to grow and develop, and this, in our opinion, is related to the activation of banking groups in the MFO segment,” notes Alla Khrapunova, an expert on the Popular Front project “For Borrowers’ Rights.” Several significant players have already organized their own MFOs in the banking market. The story is beneficial for all its participants, agrees Anna Kalugina, CEO of the fintech service Carmoney: “The borrower receives money, the MFO receives the client, the banks receive the commission, maintaining client loyalty and increasing business turnover.” “The creation of a separate subsidiary with the main activity of microfinance activities through loans will increase the total amount of funds that the Alfa Bank group will be able to offer to its clients. Probably, the Central Bank should control the creation of such subsidiary banking organizations,” says Denis Sablukov, senior lawyer at Sudohod.
In the microfinance market, it is not excluded that Alfa Finance will enter the segment of loans for small and medium-sized businesses (SMEs) in the future; Alfa Bank itself is actively developing work with this segment. Recently, a bill was submitted to the State Duma for consideration, proposing an increase in the limits of microloans available to SMEs from the current 5 million to 7 million rubles. (see “Kommersant” dated October 12). According to the Central Bank, at the end of the second quarter, SME loans accounted for approximately 11% of all issues and 19% of the core assets of MFOs. So far, the main share in this segment is occupied by state players.
Despite the growth in the number of banking MFOs in the market, it is too early to say that serious competition will arise between classic and “banking” MFOs, Elena Stratyeva is sure. “Banking MFOs mainly work with clients of their parent structures, who for some reason no longer satisfy bank scoring. Independent microfinance organizations have a different strategy: they are focused on a broader segment of clients,” explains Webbankir CEO Andrey Ponomarev. “About 90% of MFO clients are now outside the banks’ interest perimeter,” Moneyman confirms.
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