Home Credit lost its status as a significant bank. What will happen to his clients?

On March 22, the register of credit institutions recognized by the Bank of Russia as significant in the payment services market was published. Home Credit Bank is excluded from this register. Why this happened and how it will turn out for the bank’s clients, Sergey Chevrychkin, a financial analyst at the Finmir marketplace, told Moskovskaya Pravda.

The updated register includes 21 banks and one settlement non-bank credit institution, namely: Gazprombank, UBRD, St. Petersburg, Post Bank, Sovcombank, VTB, Alfa-Bank, RNCB, Sberbank, Asia-Pacific Bank, ”, Center-Invest, QIWI Bank, MTS Bank, Russian Standard, Genbank, Ak Bars, Tinkoff Bank, Promsvyazbank, Raiffeisenbank, Rosselkhozbank and NPO Payment Center (operator and settlement center of the Zolotaya Korona payment system “).

— The Bank of Russia enters organizations into the register of those recognized as significant in the payment services market in accordance with the procedure approved by the directive dated November 6, 2014. Every year, no later than April 1, the list of credit institutions that are recognized as significant in the payment services market in the country is updated,” the expert explained.

To be included in the register, credit institutions must meet at least one of four criteria:

— the share of transactions with settlement and credit cards is 2% or more of the total volume of similar transactions in the territory of one of the federal districts of Russia;

– the share of the number of settlement and credit cards issued by the organization is 2% or more of the total number of cards issued in the territory of one of the federal districts;

— the share of the number of ATMs, electronic terminals and imprinters owned by a credit institution is 2% or more of the total number of such devices in one of the federal districts;

— the share of the volume of electronic money transfers using prepaid cards is 2% or more of the total volume of such transfers in Russia.

Home Credit Bank ceased to meet these conditions. But his clients, according to Sergey Chevrychkin, have nothing to worry about.

– From March 27, 2023, about a million Home Credit customers will be transferred to Sovcombank for servicing. Home Credit agreed with Sovcombank on the sale of Svoboda installment cards from its portfolio. Many of Svoboda’s partners have already been Halva’s partners, so the merger will reduce labor costs for administering commission agreements. Home Credit decided to close the direction of installment cards, because the product is not the main one and its maintenance requires large operating and other resources of the bank, the expert said. – I also want to note that nothing will change for customers who have accounts with Home Credit Bank, since formally the banks just exchanged a package of installment cards and demonstrated a win-win strategy.

According to Sergei Chevrychkin, for the partners of both projects, this deal will lead to an increase in customer traffic and the average check.

At the same time, the expert does not see serious risks for Home Credit Bank due to the absence in the register of payment services recognized as significant in the market. The procedure for getting into the register is regulated by specific rules, the implementation of which can again return the bank to the register.

Alena Bodrienko.

Photo With site sovetpokreditu.ru