ATB is loyal to the East – Finance – Kommersant

The owner of ATB did not renew the contract with Alexei Korovin, who from the end of November 2020 headed the bank under the previous owner (CB). In fact, this is the only bank with foreign capital, which openly announced the preservation of plans for work in Russia. Such banks now have additional drivers of growth, for example, currency transfers necessary for the population, due to which banks receive high commissions.

Acting Chairman of the Board of the Asia-Pacific Bank, Kairat Altynbekov, who has the citizenship of Kazakhstan, has been appointed. About this on Friday, November 25, wrote Interfax with reference to the information of the Unified State Register of Legal Entities. Prior to this, ATB was headed for two years by Aleksey Korovin, who joined it when the bank was being reorganized by the Central Bank. The ATB press service explained that Mr. Korovin’s contract has ended, but he remains on the board of directors of the bank. The bank noted that the new head of the board “worked for more than 20 years in the banking structures of Kazakhstan, supervised the areas of treasury, lending, IT, retail business, was responsible for developing a strategy for the development of banks.” In particular, according to the data of the relevant organizations, Kairat Altynbekov worked in various positions in Housing Construction Savings Bank, Kazagroprombank, TuranAlem Bank, BTA-Ipoteka and Baspana mortgage companies.

The bank could not answer why Mr. Korovin’s contract was not extended. However, this is not only about changing the board of directors, a Kommersant source close to the bank explains that the new owner is actively putting his people in key positions.

ATB is interesting in that it has actually become the only bank in recent years that has received a new foreign shareholder.

At the same time, many banks with foreign capital are trying to limit the pace of development in the Russian market due to uncertainty or turn on a “silence mode”. Meanwhile, ATB told Kommersant that they keep their plans for the Russian market. “Shareholders still have plans not only for the presence, but also for the active development of the bank in Russia: digital transformation, effective work both in existing areas (cash loans, mortgages in the retail business, work with the gold mining and fish industries in the corporate segment), and and further development of promising products, for example, car loans, foreign trade services,” they noted.

At the beginning of the year, the bulk of ATB’s portfolio was in retail, with 60% of the portfolio made up of cash loans, according to data from Frank RG. Unsecured consumer loans, as a rule, are issued at high rates, in good times they show high profitability, collateral, as a rule, is less profitable, but also less risky, especially now, says Anastasia Terekhina, partner of the FBK audit and consulting group. “For example, if a person who has taken a loan decides to leave Russia and not pay on it, it will be much easier for the bank to compensate for the loss at the expense of collateral,” she explains.

ATB has launched transfers to Armenia, in addition, the bank offers foreign exchange transfers in US dollars, Japanese yen, Chinese yuan and Kazakhstani tenge. “Commissions for transfers have risen a lot, so banks are now earning a lot on this business,” emphasizes Ms. Terekhina.

However, ATB plans to maintain the current balance of retail and corporate business (approximately 70:30), indicate there. The focus also remains on the development of the east of Russia, where the bank has links with China and the countries of Southeast Asia.

Olga Sherunkova