SMP Bank was evaluated by capital – Finance – Kommersant

“Kommersant” became aware of the details of the sale to Promsvyazbank of the SMP-Bank group. The deal was being prepared for more than a year and was officially closed on December 30. According to Kommersant’s sources, its cost amounted to 46 billion rubles, which is close to the value of the bank’s current capital. In 2022, against the background of large-scale sanctions against Russia, a number of large credit institutions changed owners, but none was sold for such a high price.

According to three Kommersant sources in the financial market, Promsvyazbank (PSB) acquired the SMP Bank group for an amount close to the capital of the latter. Two interlocutors of Kommersant talk about 46 billion rubles. The third source of Kommersant, who was present at the corporate event of SMP Bank at the end of December, quoted the head of the bank Alexander Levkovsky: “Under the current conditions, to pay capital … almost all the capital for such a business in such a difficult time – no one else in our country could do this “.

At the same time, Mr. Levkovsky said goodbye to the employees and added that “it is not the one who plays to the end who wins, but the one who leaves with the money.”

The parties announced the closing of the transaction on December 30. PSB announced that it had gained control of SMP Bank by buying shares from Arkady and Boris Rotenberg. According to the latest public data from 2018, they had 49.995% and 43.2% of the bank’s shares, respectively. The remaining shares are divided among minority shareholders, including Poseidon LLC (3.3%), Altex (0.8%) and Elena Ruzyak (0.678%). Whether these shares have changed owners is unknown. The perimeter of the transaction included SMP Bank and its subsidiaries, including Mosoblbank, SMP Insurance, SMP Factoring and Tyazhpromleasing, which is in the process of financial recovery.

“The transaction contributes to the implementation of the strategic objectives of PSB to scale up the universal business model, further expand the client base and regional coverage, and also complements the range of financial services for clients, primarily through insurance services,” the statement says. message jar. The network of SMP-bank is represented by more than 80 branches in 25 regions, PSB itself has 300 branches throughout the country and in Baikonur.

SMP Bank, according to the NKR rating agency, is focused on “corporate lending while maintaining a significant portfolio of securities and a high share of funds in interbank lending.” PSB, on the other hand, has the status of a reference bank for the military-industrial complex, but adheres to a universal strategy, including developing its retail business. Both are on the US SDN list.

The powers of the board of directors and executive bodies of SMP-bank (chairman and members of the board) were terminated, and the “new apparatus” began to work.

The powers of the Board of Directors are redistributed between the General Meeting of Shareholders and the Management Board. Based on the disclosure of information, the early dissolution of the board of directors and the transfer of powers of their functions took place on December 27.

After the outbreak of hostilities in Ukraine and the introduction of large-scale sanctions against the Russian Federation, which particularly affected the financial system, a number of large banks changed owners – and all these transactions were carried out at a price significantly lower than capital. So, in particular, according to the Central Bank, VTB bought he owns the FC Otkritie group for 0.6 capital. PPF Group announced in June that, as part of the first part of the deal, it had sold controlling stakes in HKF Bank, Home Credit Insurance and Buy Don’t Save, as well as 100% of Forward Leasing for RUB 26.4 billion. The second part of the transaction provided for the sale of the remaining shares for 16.4 billion rubles. (until November 2023), but in the event of an acceleration of settlements, the price decreased by 11.1 billion rubles. Deal closed in early September. At the beginning of the year, the capital of HCF-Bank amounted to 58 billion rubles. In the spring of this year, Rosbank could be sold for 0.2–0.3 capital.

Experts emphasize that against this background, the deal on SMP Bank “does not look like a market one.”

According to Interfax, at the beginning of 2022, the bank’s capital amounted to almost 55.9 billion rubles. Banks have the right not to publish financial statements, and later information on the amount of Kommersant’s capital could not be found. But as Anna Avakimyan, chief analyst at RegBlock, notes, credit and currency risk partially materialized during the year: “As a result, the volume of the bank’s business did not increase, and part of the capital was attributed to an increase in new reserves for possible losses on loans.”

Mosoblbank, which is being rehabilitated by SMP Bank, also put pressure on the group’s capital. This year, as follows from previously disclosed information, the negative capital of Mosoblbank increased from 135.2 billion rubles. at the beginning of the year to 218.6 billion rubles. at the beginning of April. The bank did not disclose later data. “Rehabilitation of Mosoblbank requires colossal financial and administrative efforts,” notes Ms. Avakimyan. According to Kommersant, the PSB will now take care of the recovery.

Olga Sherunkova