In ten months, Trust Bank gained more than 100 billion rubles. from the sale of assets

For ten months of 2023, the total collections from the sale of property and rights of the bank of non-core assets (BNA) Trust exceeded 100 billion rubles. The sale of the three most expensive and attractive lots, which aroused increased investor interest, brought in most of this amount. At the same time, by the end of the year BNA may sell several more interesting objects, although the fees may not be so high.

For ten months of 2023, Trust Bank gained more than 100 billion rubles. from the sale of assets. Kommersant was informed about this by a credit institution. As explained in Trust, the main revenues were due to the implementation of large transactions – the sale of Tochka JSC (41.5 billion rubles, see Kommersant on July 11) and the Baltic Leasing company (27 billion rubles, see “Kommersant” dated September 19), as well as sales of the Kama group. The last asset was sold for 36 billion rubles, of which 15 billion rubles were the value of the enterprise’s assets, 21 billion rubles were the company’s debt to the bank FC Otkritie (see Kommersant on February 3). Let us recall that these three assets were sold to BNA by FC Otkritie Bank in February 2022 (for 20.9 billion rubles, 18 billion rubles and 13.6 billion rubles, respectively), as reported in the presentation of the former head of the credit institution Mikhail Zadornov.

Based on the results of nine months of 2023, Trust has already transferred a comparable amount to the regulator – 95.1 billion rubles were repaid. deposit of the Central Bank and 5.5 billion rubles. percent. “The total volume of deposit repayments for 2023 depends significantly on transactions in November-December,” noted the Trust. Let us recall that deposits of the Central Bank, which is the owner of the bank, were placed in the BNA in 2018 at a rate of 0.5% per annum. As of the beginning of 2022, they were estimated at 1.58 trillion rubles.

By the end of 2023, it is planned to fulfill the collection plan in the amount of 482 billion rubles. This amount is planned to be collected from all areas of work, which includes not only the sale of non-core property and assets, but also the collection of bad debts, compensation for losses by former owners in legal proceedings, etc. In addition, it is planned to collect additionally in 2024–2026 another 100–140 billion rubles, said the head of Trust, Alexander Sokolov, in an interview with Interfax in June of this year.

In addition to large assets, this year also saw the sale of RussNeft securities (3.61% of ordinary shares for 1.4 billion rubles), shopping centers, land plots, as well as the Timan-Pechora Gas Company (1 billion rubles). “All assets that the bank planned to sell this year are put up for public auction, where the final value will be determined. In particular, by the end of the year, auctions for the sale of the Riviera shopping center, the Inga oil company, the Kostroma construction materials plant, as well as a number of other assets will be completed,” notes the Trust. Other potential deals were not disclosed. However, at the beginning of 2023, the sale of a stake in UWC was not ruled out. The sale of part of the preferred shares of RussNeft was also planned for this year.

The main assets of Trust that were sold this year were transactions with price tags of 10 billion rubles, and they were of good quality, notes Dmitry Kurbatsky, managing partner of the Dmitry Donskoy Financial Group. At these auctions, buyer competition was visible and there was added value, he notes.

“Russia has formed a fairly large money supply, and the ability of large investors to carry out M&A transactions abroad is greatly limited, primarily by international compliance, reluctance to sell assets to Russians, as well as the difficulty of withdrawing large volumes of money from Russia due to regulatory restrictions,” says NSP partner Alexander Nektorov. According to his assessment, financial assets are now discounted because they are subject to sanctions pressure. At the same time, there is a demand for M&A transactions, especially for production assets, the lawyer notes. “The import of foreign goods is very limited; against this background, Russian manufacturers, if they can produce more or less competing goods, can make money on it,” he explains.

Olga Sherunkova