The mechanism of bank lending to legal entities. Recommendations for improving the mechanism of bank lending to legal entities in a commercial bank Organization of lending to legal entities in a commercial bank

Ministry of Education and Science of the Russian Federation

Federal State Budgetary educational institution higher professional education

"Volgograd State Technical University"

Faculty of Economics and Management

Department of Economics and Finance of Enterprises

EXPLANATORY NOTE

to term paper (project)

by discipline ______ Money, credit, banks _____________________________________

on the topic ____ Lending to legal entities by Sberbank of the Russian Federation

Student___________________________________________________________________

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Work (project) manager ________________________ _____________________

Commission members:

(signature and date of signing) (initials and surname)

_____________________ ____________________________

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_____________________ ____________________________

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Norm controller ______________________________ _____________________________

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Volgograd 2015

Introduction ................................................. .................................................. ..................4

1. Theoretical aspects the process of bank lending to legal entities ............................................. .................................................. .......................................... 6

1.1 Mechanism of lending to legal entities ............................................. ......... 6

1.2 Management of the bank lending process ......................................... 7

1.3 Types of bank loans to legal entities .......................................... 12

1. Analysis of bank lending to legal entities ..................................... 14

2.1 Analysis of the corporate lending market ............................................ .fourteen

2.2 Development history and general characteristics of Sberbank of the Russian Federation ........................... 17

2.3 Analysis of lending to legal entities by Sberbank of the Russian Federation ............................. 19

1. Problems of bank lending to legal entities and ways to solve them ......................................... .................................................. .................................... 22

Conclusion................................................. .................................................. ............ 27

Bibliography................................................ .................................................. thirty

Introduction

The main activity of banks in terms of generating income is the process of lending. Income from lending activities is the largest component of bank profits. In world practice, up to 40% of operating income from active operations of banks is interest on loans, and it is lending to legal entities that remains an important area of ​​banking activity.

Any enterprise or organization strives to develop successfully and increase its productive activity. This requires considerable material resources. That is why loans to legal entities are very important and extremely necessary. Only in a single case can it be noted when a company is progressively developing without additional borrowing. The loan helps a legal entity to stand firmly on its feet or to fix the shaken by the prevailing economy. Any credit institution, especially a bank, is undoubtedly considered the main partner for entrepreneurs, because it helps to expand the activities of the enterprise and improve its position in the market, therefore the chosen research topic is relevant.

The aim of the work is to study the theoretical aspects of the process of lending to legal entities, to analyze bank lending to legal entities, to identify the problems of lending to legal entities and to develop ways to solve them.

The goal determined the solution of the following tasks:

• determine the mechanism for lending to legal entities;
• study the management of the bank lending process;
• consider the types of bank loans to legal entities;
• analyze the lending market for legal entities;
• to assess over the past three years lending to legal entities by Sberbank of the Russian Federation;
• identify the problems of bank lending to legal entities and ways to solve them.

The object of the research is bank lending to legal entities.

The subject of the research is organizational and economic relations in the development and implementation of bank lending to legal entities.

The theoretical basis was the scientific literature of many economists who considered the issues of lending to legal entities: rgschk6shchuk. Scientific articles in periodicals and publications in electronic media provide insight into the latest developments in the field of financial management and financial analysis in banking, and also highlight the latest changes that have occurred in banking sector Russia.

The information base was the data of the website of the Central Bank of the Russian Federation, bulletins of banking statistics, regulations federal legislatures, financial statements Sberbank of Russia for 2012-2015

1. Theoretical aspects of the process of bank lending to legal entities

1.1 Mechanism of lending to legal entities

Modern banks have one service that is quite common today, which brings them a good profit - this is a loan to legal entities. So you can collect very a large number of clients who can increase the income of a financial institution by repaying the interest of their loan.

Credit to legal entities is one of the most basic developments of modern credit organizations. They are constantly working to create various specialized programs that would be useful for entrepreneurs. A lot of legal entities today take loans to develop their business, so such programs will always be useful. Loans to modern legal entities help them survive in today's competitive environment.

The bank always tries to provide credit only to those customers who have convinced him of their reliability. Otherwise, the financial institution will refuse to cooperate with a legal entity that raises certain doubts in it. The bank will provide a loan for legal entities only if it is convinced that its money will be spent on a profitable business. Otherwise, there is no point in wasting them on something that will never be useful. Therefore, a person must convince the bank that his business is successful and profitable. But this is in the event that a loan is taken in order to pour it into your business. In such a situation, the bank can take on collateral some of its client's property.

When mortgaged property is, and it is quite valuable for both the client and the bank, then it is quite possible to count on the bank to give you a loan. The collateral must necessarily be interesting to the bank, and it is brought in as a guarantee that the loan taken by the borrower will eventually be fully repaid.

Loans to legal entities without guarantors are a very real phenomenon today. In some situations, in order to issue a loan to legal entities, the participation of a highly qualified loan specialist is required. Such a credit broker will help you choose the most suitable and most profitable credit program in all respects. The services of this employee may be a little expensive, but it will save the client from some kind of deception and will help to understand in more detail all the conditions that are set by the bank that gives the loan.

In order to get a loan to any person or legal entity, you need to provide a certain package of documents. But in each case, this package of documents will be different. Documents for a loan to a legal entity may have the following order: a certificate of registration, you may also need financial statements for the last two years and for the last six months, a statement of financial results, a statement of cash flows, a statement of equity. Enterprises that have existed for less than two years must submit all financial statements for the period of their existence and many other documents.

Not all legal entities are well versed in the documentation and therefore they need an assistant when applying for a loan at a bank. Assistance with a loan to legal entities is a must in the event that a large amount of money is involved. For this, there are special credit brokers. They have extensive experience in this business and therefore will help each of their clients get a reliable loan to invest in their business.

Assistance in loans to legal entities is very popular today, because a lot of modern banks offer how complicated credit programs are. In order not to get into a rather unpleasant and at the same time incomprehensible situation, a modern person has the opportunity to use the help of specialists.

1.2 Management of the bank lending process

1) Stages of lending to legal entities

The credit process itself begins from the date of the first issuance of the loan. However, up to this point and after it, there is a whole streak of significant work performed by both the lending bank and the borrowing client. Modern domestic practice, when loans are needed by everyone, from an entrepreneur to the government, not to mention enterprises and organizations experiencing an acute crisis of solvency and needing credit support. A Russian commercial bank does not have to look for a client to whom a loan needs to be given; the client is looking for a bank where a loan could be obtained.

These are the realities of the modern Russian economy, which is experiencing an acute crisis in production and finance. Commercial banks are not exempted in the future from another more difficult stage - the stage of considering a specific project. The instability of the economic situation and inflation require Russian banks to be especially careful and have experience in assessing the creditworthiness of the client, the object of lending and the reliability of collateral, the quality of collateral and guarantees. The analytical part of this stage is an extremely demanding task.

In Russian commercial banks, this task is usually assigned to the credit department (management). In individual banks, special analytical departments are allocated, the function of which is a comprehensive assessment of the loaned event. The conclusion about the possibility of lending is given to the employee in charge of the service this client... In this case, all preparatory work is entrusted to the bank's economist - he conducts preliminary negotiations, reviews the documentation submitted to the bank, prepares a written opinion on the possibility and conditions of lending to this project, issues a special order for issuing a loan, collects the necessary authorization signatures on loan documents, etc. - in general, performs all analytical, technical and organizational work on the relevant loan project. In small banks, all this work, as a rule, is concentrated in one department.

A fairly common form of work at this preliminary stage is making decisions on lending to clients within the limits of a certain competence of bank employees. In this case, the loan project for the corresponding amount is considered, and also the issue of the possibility of lending it is considered only by the employee who has been granted such a right by the relevant orders of the bank's management.

Large loans are usually reviewed by the credit committee. By its meeting, all economic and legal issues are being worked out, a final decision is made on the issue under consideration, specific lending conditions are determined.

This is the procedure for this preparatory phase. This is followed by the stage of registration of credit documentation. Bank employees draw up a loan agreement, write out instructions for the bank to issue a loan, start a special dossier on a client - borrower (credit business).

At the third stage - the stage of using the loan, credit operations are monitored: compliance with the lending limit (credit line), targeted use of the loan, payment loan interest, completeness and timeliness of loan repayment. At this stage, the work on the operational and traditional analysis of creditworthiness and financial results work of the client, if necessary, meetings are held, negotiations with the client, the conditions and terms of crediting are specified.

2) Loan documentation

Loan documents are documents drawn up by the client and the bank that accompany the loan transaction from the moment the client contacts the bank until the loan is repaid.

Loan documents prepared by the client include:

Loan application;

Feasibility study;

Loan application;

Financial report;

Report on the movement of cash receipts;

Internal financial statements;

Internal management reports;

Financing forecast;

Tax returns;

Business plans;

Urgent obligations;

Pledge agreement (letters of guarantee, insurance policies);

Information about the pledged property.

Based on the generally accepted documentation provided by the client for obtaining a loan, each bank itself determines for the borrower a package of documents that best meets the requirements of the bank.

3) Assessment of the borrower's creditworthiness

To assess the creditworthiness of a borrower, banks analyze quantitative indicators and calculate ratios that can in one way or another characterize sustainability financial condition client. Moreover, each bank develops its own set of indicators, which are used to assess the financial condition of a potential borrower. The system of such indicators must meet two main criteria:

1) the coefficients calculated on the basis of indicators should determine the essential (significant) features of the enterprise;

2) these coefficients should duplicate each other as little as possible.

4) The essence of the loan agreement

One of essential conditions successful entrepreneurial activity is the ability to timely obtain bank loan... The relationship between the client and the bank is governed by the terms of the loan agreement.

Under the loan agreement, the bank or other credit organization (lender) undertakes to provide funds (credit) to the borrower in the amount and on the terms stipulated by the agreement, and the borrower undertakes to return the received amount of money and pay interest on it. A credit agreement in banking practice is also called a bank loan agreement, using the term "loan" as equivalent to the words "credit" and "loan".

Unlike a loan agreement under a loan agreement, the law establishes special requirements to the subjects of this relationship. Only a bank or other credit organization can act as a creditor. If under the loan agreement it is possible to transfer to the borrower not only money, but also replaceable things, then under the bank loan agreement it is allowed to transfer only a certain amount of money.

5) Securing loans

Ensuring the repayment of the loan as a principle of lending expresses the need to protect the property interests of the bank in the event of a possible violation by the borrower of its obligations. The form of ensuring repayment is understood as the form of guaranteed obligations of the borrower. All collateral obligations are additional to the principal debt of the borrower. They are drawn up with special documents that have legal force.

The Law "On Banks and Banking Activities" and the Civil Code provide that the fulfillment of the main obligation of the borrower can be supported by such forms of security as pledge, guarantee, surety, and in other ways, stipulated by law or by agreement.

The types of collateral that can be taken into account by the lender when deciding on the issuance of a long-term loan are shown in Fig. 1.

Rice. 1 - Types of loan security

1.3 Types of bank loans to legal entities

Russian banks offer several loan products, among which you can choose the most optimal one, which will fully satisfy the needs of the business at a particular moment. Among them there are a variety of types of lending to legal entities, each of which has its own purpose. The most common and most popular are: investment, universal loans, loans for current activities, commercial mortgages, as well as factoring and leasing.

Universal loans are distinguished by the fact that they do not have any specific conditions and can be used for almost any needs that arise during business development. In order to replenish working capital enterprises and for the purchase of fixed assets, legal entities often use lending intended for current activities. In order to obtain an investment loan, for example, for a new or for the development of an existing project, you will need a business plan that clearly indicates the development prospects of this enterprise.

Also, the types of lending to legal entities include a commercial mortgage, which, due to its conditions, is similar to the usual residential mortgage for many. In such a case, an enterprise is granted a loan secured by real estate, and not only real estate already owned, but also those objects that are issued on credit can be considered as collateral for the loan.

Very often, businesses use a service such as a bank guarantee. Thanks to her, when a business for various reasons cannot make payments on existing debts, the bank assumes obligations to repay the debt to a third party. A bank guarantee is somewhat similar to factoring, according to which the bank also takes on the resulting debt and repays it to a third party. In this case, the bank collects funds without the participation of the client.

Also spread and finance lease, which is also called - leasing and thanks to which a legal entity has the opportunity to receive property in installments. After all settlements are made with the leasing company, which may include a bank, the property used becomes the property of the enterprise.

Types of lending to legal entities in their list also have the option of urgent lending to legal entities. It is carried out for a specific period to finance the emerging needs of the enterprise and differs as lending: long-term - up to 2 years or more, medium-term - up to 1-2 years and short-term - up to 1 year. The amount of the loan amount on it will depend not only on the needs of the legal entity, but also on its solvency, bank lending history, which is influenced by existing deposits in banks, history of payments on previous loans, etc.

Such type of lending as overdraft is also widespread. It is the withdrawal of funds from the company's accounts in excess of the balance in order to promptly meet the urgent short-term needs of the business. Thanks to this, the overdraft provides an opportunity for the enterprise to spend more funds than that which is in its bank accounts. Banks provide such a service for those legal entities that have already gained a positive reputation from them and whose creditworthiness they do not doubt.

1. Analysis of bank lending to legal entities

2.1 Analysis of the corporate lending market

In modern Russian economic conditions, in the period of overcoming the crisis of the national economy, the primary task is to create a unified management mechanism that would ensure, first of all, overcoming negative phenomena in the country's economy, and then - creating the conditions necessary for its normal functioning and development as in the field of finance, and in the field of intensification of production, trade, Agriculture and other industries. The creation of a credit mechanism, as an element of the credit system as a whole, is called upon to play an important role here, since it is he who is the main instrument for regulating the economy in the hands of the state. Based on monetary and credit relations, it will allow the most quickly to concentrate huge resources in the form of temporarily free funds in the central directions of the country's economic and social development. The correct organization of the functioning of the credit mechanism will ensure the effective redistribution of these funds between the sectors of the economy.

Lending to legal entities is the main instrument of the credit mechanism capable of concentrating temporarily free funds in the central areas of the country's economic and social development. Currently, "lending to legal entities" is primarily understood as "lending to small and medium-sized businesses." After all, the development of small and medium-sized businesses is the key to the functioning of a market economy.

The market for lending to small and medium-sized businesses in 2012, according to bank analysts, grew by 40-50% and reached $ 60 billion. interest and strict conditions for receiving money.

Banks are trying to protect themselves, demanding from companies full transparency of their work, collateral, as well as break-even work for a certain period. Nevertheless, this market is very interesting for banks due to its high profitability - rates on such loans are at the level of 15-18% with significant amounts of the loans themselves.

The main clients of banks for lending programs for small and medium-sized businesses are trading companies engaged in wholesale and retail, then there are companies operating in the service market and manufacturing enterprises.

Rice. 2 - Leading banks by the volume of loans issued to small and medium-sized businesses in 2013 (in thousand $)

Figure 2 shows that Sberbank ($ 24,604,489 thousand) ranks first in terms of the volume of loans issued to small and medium-sized businesses in 2013, Vozrozhdenie ($ 1,800,000 thousand) ranks second, and Uralsib ranks third (1438881). It should be noted that Sberbank holds a leading position in all indicators, and by a huge margin.

In 2014, loans became more affordable, but they are still very far from becoming a mass product. Even the programs of state support for lending by commercial banks to small businesses did not greatly improve the situation on the market. Loans issued under such programs, although they imply compensation for the initial costs of obtaining money, but it is still quite difficult to get them. The situation in the SME lending market in 2014 is shown in Figure 3.

Rice. 3 - Leading banks in terms of the volume of loans issued to small and medium-sized businesses in 2014 (in thousand $)

Based on Figure 3, the following conclusions can be drawn. First, it should be noted the overall growth in loans issued by all banks. So the top ten leaders increased the volume of issued from 29863550 thousand dollars to 42884524, 8 thousand dollars, i.e. by 43%.

Secondly, it should be said about the leaders in terms of growth rates. The first here was VTB 24, which increased the volume of loans from 105,459 thousand dollars in 2013 to 779,009 thousand dollars in 2014, thereby moving up in the Rating of the largest banks in the small and medium-sized business market in 2013 -2014. from 11th to 5th place. The second is Rosbank, which increased the volume of loans to small and medium-sized businesses from $ 67,700 thousand to $ 267,200 thousand, i.e., an increase of 294%.

The practical impossibility of obtaining loans is pushing many companies to resort to an alternative and use leasing or factoring, which also actively developed in 2014. Leasing programs allow companies to purchase production assets in installments. Factoring, on the other hand, makes it possible to completely protect oneself from non-payments of its counterparties, and the condition for signing a factoring agreement for companies is the solvency of their partners.

Thus, even a company that does not have material support can afford factoring.

In 2015, the SME lending market will continue to develop. We should expect the emergence of a larger number of participants in this market, which means increased competition and, as a result, increased loyalty to borrowers, softening of credit conditions and lower interest rates on loans.

2.2 Development history and general characteristics of Sberbank of the Russian Federation

Sberbank of Russia is the largest bank in the Russian Federation and the CIS. Founded in 1841, Sberbank of Russia today is a modern universal bank that meets the needs of various groups of clients in a wide range banking services.

In 1987, as part of the perestroika reforms, the system of the State Labor Savings Banks of the USSR was reorganized, and instead of it, the Bank for Labor Savings and Lending to the Population of the USSR was formed - the Savings Bank of the USSR, a state specialized bank for servicing the population and legal entities.

This is how the newest stage in the history of Sberbank of Russia began. Already in 1989, the first ATM was opened in the Dzerzhinsky branch of the Bank on Olympiysky Prospekt in Moscow. In the same year, Sberbank became a member of the World Institute for Savings Banks. And after the collapse of the USSR, only Sberbank of Russia continued its activities; savings banks in the former Soviet republics either completely ceased to exist, or took a secondary position in the banking system of their countries.

In 1991, the general meeting of shareholders decided to establish the Joint Stock Commercial Savings Bank of the Russian Federation, which continued the one and a half century history of Russian savings banks.

Now his assets are more than a quarter banking system countries (27%), and the share in the banking capital is at the level of 26% (January 1, 2013). According to The Banker magazine (July 1, 2012), Sberbank ranked 43rd in terms of fixed capital (Tier 1 capital) among the largest banks in the world.

Sberbank holds the largest share in the deposit market and is the main creditor to the Russian economy. As of January 1, 2013, the share of Sberbank of Russia in the private deposit market was 48%, and its loan portfolio included about a third of all loans issued in the country (32% retail and 31% corporate loans).

Sberbank of Russia has a unique branch network: it currently includes 17 territorial banks and more than 19,100 divisions throughout the country. Subsidiary banks of Sberbank of Russia operate in Kazakhstan, Ukraine and Belarus. In accordance with the Development Strategy, Sberbank of Russia expanded its international presence by opening a representative office in Germany and a branch in India, as well as registering a representative office in China.

Implementation of the Development Strategy will allow the Bank to strengthen its position on Russian market banking services and achieve financial and operational indicators corresponding to the level of high-quality universal world financial institutions.

In fig. 4 shows the existing diagram of the organizational structure of Sberbank.

Rice. 4 - Organizational structure Sberbank.

The General Meeting of Shareholders is the supreme governing body of the Bank. At the General Meeting of Shareholders, decisions are made on the main issues of the Bank's activities. The list of issues related to the competence of the General Meeting of Shareholders is determined federal law"On Joint Stock Companies" and the Charter of the Bank.

In accordance with the Charter, the general management of the Bank's activities is carried out by the Supervisory Board.

Sberbank of Russia, despite difficult conditions and a significantly increased load on the Bank, its employees and infrastructure, continues to operate in full, providing all types of services to regular and new customers, individuals and legal entities, large, small and medium-sized businesses operating in all sectors of the economy.

2.3 Analysis of lending to legal entities by Sberbank of the Russian Federation

Dynamics of the main items of the income statement for 2013 in comparison with 2012:

• net interest income decreased by 0.3%;
• clean commission income increased by 10.0%;
• costs of creating provisions for possible losses amounted to 86.6 billion rubles. against 387.3 billion rubles. for 2012;
• operating income before provisioning for possible losses decreased by 11.6%;
• operating income after the creation of provisions for possible losses increased 1.9 times;
• operating expenses increased by 18.3%;
• profit before taxes from profit amounted to 225.0 billion rubles. against 39.0 billion rubles. for 2012;
• net profit amounted to 183.6 billion rubles. against 21.7 billion rubles. for 2012. - tab. 2.1.

The main direction of the Bank's activities in the provision of credit services in the first quarter of 2014 remained, first of all, the implementation of measures aimed at increasing the efficiency of the implementation of existing credit products.

Table 1 - Key performance indicators of Sberbank

In fig. 5. presents data on the dynamics of the bank's loan portfolio.

As you can see, the portfolio of loans to customers increased by 13.7% in 2013 due to the growth in lending to both individuals and legal entities amid growing demand.

31.12.2011 31.12.2012 31.12.2013

Rice. 5 - Dynamics of the loan portfolio of Sberbank.

The corporate loan portfolio in December increased by 94 billion rubles. up to 4,766 billion rubles. During the month, the bank provided Russian enterprises with about 640 billion rubles, which was the maximum figure for the last two years. The total volume of loans issued in 2013 exceeded 4.35 trillion rubles, while in 2012 about 4 trillion rubles were issued. The bank practically doubled the growth rate of its loan portfolio compared to previous year: 12.2% in 2013 against 6.7% in 2014 - fig. 6.

31.12.2012 31.12.2013

Rice. 6 - The structure of the portfolio of loans to legal entities.

As you can see from fig. 6., in 2012 in the structure of lending to legal entities commercial lending and specialized lending occupied approximately the same parts - 52% and 48%, respectively, and in 2013 the part of specialized lending decreased even further to 44%.

In fig. 7. presents the structure of the loan portfolio by industry.

Rice. 7 - Structure of the loan portfolio by industry as of December 31, 2013

As you can see in fig. 7, the sectoral structure of the loan portfolio is quite diversified: the share of the largest sector is 16.3% of the total loan portfolio - trade.

1. Problems of bank lending to legal entities and ways to solve them

Sberbank of Russia, despite difficult conditions and a significantly increased load on the Bank, its employees and infrastructure, continues to operate in full, providing all types of services to regular and new customers, individuals and legal entities, large, small and medium-sized businesses operating in all sectors of the economy.

Difficult economic conditions necessitate changes in the Bank's credit policy. These conditions are characterized by the following factors:

• lack of liquidity in the economy, both in banks and in enterprises;
• crisis of confidence in economic relations (companies, banks, individuals);
• low availability of loans and their increased cost due to increased risks ("credit crunch");
• decrease in effective demand from both individuals and legal entities;
• a significant drop in prices both for goods, raw materials and materials, and for assets (real estate, securities, enterprises);
• increased fluctuations in the exchange rates of all currencies.

According to experts from Sberbank of Russia, this period will last up to one and a half to two years.

The Bank also encourages clients experiencing or anticipating financial difficulties to discuss them with us as early as possible - together it will be much easier to find their solution without bringing the situation to a critical one.

If a critical situation nevertheless arises, Sberbank of Russia will do everything to ensure that both the client and the Bank get out of it with the least possible losses.

Aware of its special responsibility to shareholders and investors in this difficult time, Sberbank of the Russian Federation OJSC is introducing in 2015 additional measures for effective risk management:

• changes in the criteria for the sustainability of clients' business in relation to activities in difficult conditions;
• strengthening the security of loans:
  • sufficient and timely cash flows from the borrower's operating activities;
  • the operating profitability of the business;
  • pledges of liquid assets;
  • guarantees / sureties of the state or business owners;
• increasing the level and quality of control by Sberbank RF OJSC over the responsible behavior of owners and management by introducing additional conditions and restrictions on the borrower's activities, including:
  • reduction of the maximum debt load limit;
  • introduction of additional restrictions on changing control over the business;
  • expansion of the list of events entailing early debt collection by the Bank;
  • a clearer definition of the criteria for cross-default on the client's obligations to other creditors.

To do this, it strengthens attention:

• to sources of repayment and their reliability;
• to the level of the client's current liquidity;
• to the level of debt burden;
• to the quality and liquidity of collateral;
• to the adequacy of financial plans and actions of borrowers in relation to sharply changed external conditions;
• to conservative approaches in forecasts of clients' solvency;
• to monitoring outstanding loans for early diagnosis of potential problems for borrowers.

Incomplete representation of data in the database can become a serious problem. Due to ill-conceived data collection technology or due to its violation, data can be collected spontaneously, haphazardly, fragmentarily. Analyzing such data can be unsafe because it is very easy to make bad decisions based on incorrect analysis results.

Having studied the methodology for assessing the creditworthiness of legal entities at Sberbank, it can be noted that its main drawback is the focus on the financial analysis of borrowers. This does not take into account non-financial indicators, which also have a significant impact on the borrower's creditworthiness.

Today the problem of assessing the creditworthiness of a borrower is becoming more and more urgent. High percent the risk of non-repayment of a loan in Russian banks leads to a strong rise in the cost of a loan. Debts of defaulters fall on the shoulders of bona fide borrowers of the bank. Some banks even refuse to issue unsecured consumer loans in order to reduce the risk of possible losses.

If the bank plans to launch a large-scale program, then in order to succeed in the market in the face of constant tougher competition and, as a result, decrease in profitability, it is necessary to look for ways to reduce operating costs and minimize risks.

Improving the methodology for assessing the creditworthiness of legal entities in Sberbank should be carried out in the direction of increasing the accuracy of assessing the creditworthiness of the borrower by expanding the estimated indicators. Usually, the loan is expected to be repaid from the cash flows generated by the project for which the loan is provided, or the main activity of the borrower. The loan officer should examine both the financial and non-financial characteristics of the borrower in order to determine its financial position and identify risks that may affect those characteristics. In addition to the client's financial situation, the loan officer should consider: the quality of management; the state of the industry; the client's position in the industry.

EGAR Technology offers a high-tech solution EGAR Credit Administration (legal entities) to automate the decision-making process in the field of corporate lending. The introduction of the system into the practical activities of Sberbank will provide:

• Minimization of the subjective factor in the process of making credit decisions
• Reducing operational risks through comprehensive automation of the pre-loan processing process
• Expansion of volumes and types of lending (in particular, through lending to small and medium-sized businesses)
• Quantification credit risks

The functional diagram of the solution is shown in Fig. eight.

The analytical core of the EGAR Credit Administration system supports:

• Assessment and maintenance of the credit history of the borrower and internal rating based on financial and management reports, as well as questionnaires for individual entrepreneurs
• Calculating the probability of a borrower's default
• Determination of the reasonable amount of the reserve of funds for each loan

Rice. 8 - Functional diagram of the solution for the EGAR system.

The analytical core of EGAR Credit Administration uses the mathematical apparatus of the integrated management system credit risk bank EGAR Credit Risk.

The creditworthiness of legal entities is assessed on the basis of quarterly financial statements for the year and additional information on the details of the borrower's business. The assessment of the creditworthiness of individual entrepreneurs can be carried out both on the basis of management reports and on the basis of an individual's questionnaire. In the general case, the assessment is divided into two stages - the calculation of financial indicators and the basic average annual default probability for them, and then the implementation of an additional expert assessment with the derivation of the correction factor to the basic probability.

Based on the calculated characteristics, depending on the amount of the proposed loan, collateral, reliability of collateral, length of the transaction, credit margin and general parameters of the portfolio, it is concluded that it is advisable for the bank to lend to the borrower or provide him with alternative terms of the transaction acceptable to the lender.

Conclusion

The desire to strengthen their positions in the financial markets is the reason for the strengthening of the process of self-organization of banks, which continue to pay the payment documents of their clients in a timely manner and in full. In this situation, banks are striving not only to maintain their positions in the financial market, but also to ensure the implementation of development programs that require substantial capital investments financed from profits. The Bank strives to provide various and high-quality services to its customers, to ensure the safety of the funds entrusted to it, and defines its strategy in the banking services markets as an increase in the volume of transactions in the developed markets with a simultaneous expansion of the range of services provided and a change in the structure of banking operations.

Thus, according to the theoretical part of the study, summarizing the conclusions, we can summarize - the most significant and profitable segment of borrowers are legal entities. In the most general sense, lending to legal entities is a kind of active bank operations associated with the provision on terms of repayment, urgency, payment, targeted use of funds to the borrower.

When lending to legal entities, it is necessary to carry out a high-quality and complete analysis at the stage of consideration loan application, aimed at eliminating both legal and credit risks of the bank, for which it is necessary to comprehensively interact with all services of the bank to check the legal capacity of a legal entity, take measures to identify negative information regarding a potential borrower and, most importantly, check the client's solvency.

Problems associated with the absence in Russian reality of a perfect methodology for assessing the creditworthiness of a borrower have been identified, and the existing ones do not allow one to fully judge the financial condition of a potential borrower due to the lack of a unified regulatory framework in the industry, comparative industry average, minimum acceptable and best indicators for the industry. ... In addition, there are problems in the area of ​​loan portfolio management, the main of which are currently the high level of risk of loan portfolios formed by banks associated with excessive concentration of loans. Also, a negative impact on the level of risk is exerted by the unresolved number of key problems of pledge legislation, underdeveloped conditions for the functioning of credit history bureaus and credit risk insurance.

In the second part of the course work, an analysis was made of the organization of the process of lending to legal entities of Sberbank of Russia - the leader in the country's banking market. By its market positions, by the volume of assets and capital, by its financial results and the scale of infrastructure, the Bank is several times superior to its closest competitors.

Based on the results of the analysis, the results were summed up, which testify to the reliability of Sberbank of Russia, despite the financial crisis and adverse events in the country.

As of January 1, 2014, the share of Sberbank of Russia in the private deposit market was 48%, and its loan portfolio included about a third of all loans issued in the country (32% retail and 31% corporate loans).

It should be noted a significant increase in the volume of consumer loans granted, by 12.1% in 2013 compared to 2012. Sberbank of Russia retains its leading position in this segment, occupying more than 30% of the retail lending market. Housing loans were in high demand, including mortgages and loans to young families for improving housing conditions. Over the year, Sberbank issued more than 300 thousand rubles. home loans in the amount of 291 billion rubles. Generally, loans to individuals are issued for the medium term, that is, for a period from 1 to 3 years, while there is a positive trend towards an increase in the share of this particular group of loans from 31.7% in 2012 to 35.7% in 2013.

The corporate loan portfolio in December 2013 increased by 94 billion rubles. up to 4,766 billion rubles. During the month, the bank provided Russian enterprises with about 640 billion rubles, which was the maximum figure for the last two years. The total volume of loans issued in 2013 exceeded 4.35 trillion rubles, while in 2012 about 4 trillion rubles were issued. The bank practically doubled the growth rate of its loan portfolio compared to the previous year: 12.2% in 2013 against 6.7% in 2012.

The sectoral structure of the loan portfolio is quite diversified: the share of the largest industry is 16.3% of the total loan portfolio - trade.

In order to eliminate the identified negative trends, recommendations were developed to improve lending to legal entities, aimed primarily at improving the quality of the loan portfolio, reducing the risk of non-receipt of income and non-return of loans, which are covered in the third chapter. term paper.

Firstly, such measures included liability insurance for borrowers of legal entities and individual entrepreneurs for the timely repayment of amounts for each newly issued loan (bank loan insurance) according to the insurance model trade credit used in the practice of insurance organizations. This helps to reduce the share of overdue loans in the total loan portfolio.

The second measure aimed at improving the quality of the loan portfolio is the sale of the portfolio of overdue loans to collection companies. The proposed event will also have a positive effect, since when working with collection organizations the bank will be able to reduce the share of overdue loans.

In general, this will help to improve the quality of the loan portfolio, reduce provisions for possible losses on loans, loan and equivalent debt, as well as increase the bank's financial performance.

Bibliography

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INTRODUCTION

Chapter 1: THEORETICAL BASIS OF BANK LENDING

1.2.2 Securing a loan

1.2.4 Credit monitoring and the bank's procedure for dealing with problem loans

Chapter 2: ACTIVITIES OF JSCB CHELINDBANK IN THE FIELD OF LENDING LEGAL ENTITIES

2.1 general characteristics jar

2.2 Procedure for providing clients with funds

2.2.1 List required documents for a loan and their analysis

2.2.2 Determination of the credit limit for one borrower

2.2.3 Approval of the credit limit for one Borrower

2.2.4 Consideration of loan applications

2.2.5 Preparation and conclusion of contracts

2.2.6 Granting a loan

2.2.7 Repayment of the loan and payment of interest

2.2.8 Bank control over the loan and the financial condition of the borrower

2.2.9 Collecting loans

2.3 Analysis of the loan portfolio

Chapter 3: WAYS TO IMPROVE THE MECHANISM OF BANK LENDING TO LEGAL ENTITIES

3.1 Ways to improve the elements of the mechanism of bank lending to legal entities

3.2 Perspective models of organization and functioning of the mechanism of lending to trade organizations in Russian commercial banks

CONCLUSION

LIST OF USED LITERATURE

INTRODUCTION

The ongoing economic reform in the country has opened a new stage and tasks in the development of banking. The solution of these problems is possible only on the basis of a practical study of the functioning of Russian and foreign banks and the introduction of the most progressive, rational forms and methods of work in practice.

Lending to enterprises is a traditional type of banking services. It is no coincidence that the bank is called a credit institution. The largest part of banks' assets is still placed in lending operations. In general terms, the existing lending system is an updated system, in which, however, both old and new forms of lending still exist. In a sense operating system lending is a transitional system, where the remnants of the old scheme are preserved, and new elements are introduced that are more consistent with market relations.

Carrying out banking operations with a wide clientele is an important feature of modern banks with a developed credit system... Lending operations are an important income-generating factor in the activities of Russian banks. In my opinion, lending to legal entities is in great demand. For this topic thesis very relevant.

The purpose of the thesis is, on the basis of an analysis of the organization of lending to legal entities, to develop ways to improve the mechanism of lending to legal entities in order to ensure loan repayment.

The subject of the research is the organization of the functioning of the mechanism of lending to legal entities.

The object of research of this work is the Soviet branch of "Chelindbank"

Objectives of this work:

Definition of the concept of credit and the essence of the principles of lending;

Analysis of the practical application of the legislative framework governing the sphere of lending to the population;

Study of the organization of the credit process in JSCB "Chelindbank"

The objectives of the thesis determined its structure. For this in paragraph 1.1. first of all, general issues are considered. The essence of the loan, its types, methods and forms.

Further in section 1.2. studied the organization of lending to legal entities in commercial organizations.

General characteristics of JSCB "Chelindbank" are set out in paragraph 2.1.

Section 2.2. the procedure for providing funds to the clients of JSCB "Chelindbank" is being considered; reflects the entire process of granting a loan from the client's contact to the bank, to receiving a loan, as well as the procedure for repayment of the loan and payment of interest.

Section 2.3 analyzes the loan portfolio.

The third chapter outlines the ways to improve the lending mechanism.

For the purpose of a detailed presentation of this topic, in addition to my own practical skills, I used articles and materials that reflect the essence of this problem at the modern level.

The thesis contains a number of applications that make it possible to visualize the lending process and analysis of the bank's credit work. The material is illustrated with figures, tables. At the end of the work, a list of used literature is given.

CHAPTER 1. THEORETICAL BASIS OF BANK LOAN

1.1 Concept of credit. Types, forms and methods of loans provided to legal entities

Credit is largely a condition and prerequisite for the development of a modern economy and an integral element of economic growth. It is used by both large associations and enterprises, as well as small trade, manufacturing and other enterprises.

The term credit comes from the Latin word "creditum" (loan, debt; trust; he believes) and means a kind of economic transaction, an agreement between legal or individuals about a loan or loan, i.e. the lender provides the borrower with money or, in some cases, property for a specified period. The principal characteristics of a loan are urgency, repayment and repayment.

Thus, credit is a form of movement of loan capital, i.e. money capital provided in a loan. Credit transforms money capital in loan capital and expresses the relationship between the lender and the borrower.

Commercial banks provide their clients - legal entities with various types of loans, which can be classified according to various criteria.

Depending on the purpose or direction, loans are distinguished:

Industrial,

Trade,

Agricultural,

Investment.

Depending on the urgency of the loan:

Short-term loans are provided to fill a temporary shortage of the borrower's own working capital. Term up to a year. The interest rate on these loans is inversely proportional to the maturity of the loan. A short-term loan serves the sphere of circulation.

Medium-term loans are provided for a period of one to three years for production and commercial purposes.

Long-term loans are used for investment purposes. They serve the movement of fixed assets, differing in large volumes of transferred credit resources. They are used for crediting reconstruction, technical re-equipment, new construction at enterprises of all spheres of activity. Long-term loans were especially developed in capital construction, the fuel and energy complex. Average maturity from 3 to 5 years.

On-call loans that are repayable within a fixed time frame after formal notice from the lender (no original maturity date).

They are distinguished by size:

Large loans,

Average loans,

Small loans.

By providing:

Unsecured (blank) loans,

Secured: which, in turn, by the nature of the security, are divided into pledged, guaranteed and insured.

By the method of issuance, bank loans are differentiated into:

Compensatory loans, where the loan is sent to the current account of the borrower to reimburse the borrower for his own funds invested either in inventory items or in costs.

Payment loans, where a bank loan is sent directly to the payment of settlement and monetary documents presented to the borrower for payment for credited activities.

Bank loans are distinguished by repayment methods:

Loans repaid in installments (parts, shares),

Loans repayable in a lump sum on a specific date.

Depending on the payment for using the loan:

Paid loan,

Free loan,

Dear loan,

Cheap loan.

The basis for such a division is the size of the interest rate established for the use of the loan.

The forms of granting a loan to a borrower can be different. The most common in practice are the following:

A term loan is a common form of loan. The bank transfers the loan amount to the borrower's current account. At the end of the term, the loan is repaid (that is, the borrower transfers the corresponding amount of money from his current account to the bank).

Contract account loan. The bank opens a special loan account for the borrower - a current account. A contract account is a single account that records all the bank's transactions with customers. On the contract account, on the one hand, the bank's loans and all payments from the account on behalf of the client are reflected, and on the other hand, the funds received by the bank from clients in the form of proceeds, deposits, loan repayments, etc. are reflected. and may have a debit and credit balance. A contract credit is carried out as follows. A special loan account (current account) is opened in the bank for the borrower, to which his proceeds are credited and from which payment of the received settlement documents is made; if the funds of an economic entity are not enough to settle obligations, then the bank credits it within the amount established by the loan agreement. The amount of the loan received is determined as the difference between receipts and payments on this account. Settlements on the loan are made within the period specified in the loan agreement.

An on-call loan is a short-term loan that is repaid on demand. Issued, as a rule, secured by securities and goods. Oncall loan is carried out as follows. The bank opens a special current account for the borrower secured by inventories or securities. Within the limits of the secured loan, the bank pays all the bills of the business entity. The loan is repaid at the first request of the bank at the expense of funds received on the account of the borrower or by selling the collateral. An oncall loan is usually repaid by the borrower with a 2-7 day advance notice. The interest rate on this loan is lower than on term loans. From the point of view of the repayment period and the quality of collateral, an on-call loan is considered the most liquid item of a bank's asset after cash on hand.

A corporate loan is a traditional form of lending in which the supplier (seller) provides a loan to the buyer in the form of a deferred payment. A type of corporate loan is an advance from the buyer, which is paid to the supplier (seller) after the signing of the agreement (contract).

Bill of exchange credit - The Bank provides a bill of exchange (discount) loan to the holder of a bill by purchasing (accounting) a bill of exchange before maturity. The holder of the bill of exchange receives from the bank the amount indicated in the bill, minus the discount rate, commission payments and other expenses.

Factoring is a type of trade and commission operation related to lending of working capital. Factoring is the collection of customer receivables and is a specific type of short-term lending and intermediary activity. Factoring provides services to the seller. Its main purpose is to receive funds immediately or within the time frame specified in the contract.

Forfeiting is a form of export lending by a bank or financial company by purchasing bills of exchange and other debt claims for foreign trade transactions without a turnover on the seller. Forfeiting is used for the supply of machinery, equipment to large sums with long-term payment by installments (up to 7 years)

Credit for open account... The essence of loans (or settlements) on an open account is that the seller ships the goods to the buyer and sends documents of title to him, referring the amount of debt to the debit of the account opened by him in the name of the buyer. Within the terms stipulated by the contract, the buyer pays off his debt on the open account.

Overdraft is a form short-term loan, the provision of which is carried out by the bank debiting funds from the client's account in excess of the balance on his account. As a result of such an operation, a negative balance is formed, i.e. debit balance - the client's debt to the bank. The bank and the client conclude an agreement between themselves, which establishes the maximum amount of the overdraft, the conditions for granting a loan, the procedure for repaying it, and the amount of interest for the loan.

Lending methods

The lending method can be defined as a set of techniques by which banks issue and repay loans.

There are three such methods:

1) the method of lending by turnover;

2) the method of lending for the balance;

3) reverse - balance method.

When lending by turnover, the loan follows the movement, turnover of the object of lending. The loan advances the borrower's costs until its resources are released. The size of the loan increases as the objective demand for the loan increases and is repaid as this demand decreases. This method provides a continuous, as the demand decreases or increases, the synchronous movement of credit is a continuously renewing process.

When lending on the balance, the loan is interconnected with the balance of inventory and costs that caused the need for a loan. Most often, lending on the balance, as a rule, already covers a smaller circle of lending objects, mediates one of the objects, while lending by turnover is associated with the movement of not a separate, private, but aggregate object of lending.

In practice, lending by turnover and by balance can be combined, a turnaround method is formed, when a loan at the first stage is issued as the need arises, and at the second stage it is repaid within strictly defined terms, which may not coincide with the volume of released resources. At the first stage, the loan is issued at the initial stage of the turnover of inventories and costs; at the second stage, it is repaid on the basis of the balance of the client's urgent liabilities to the bank.

Organizationally, the movement of the loan (its issuance and repayment) is reflected in the client's loan accounts, which the bank opens for him. A loan account is an account that reflects the client's debt (debt) to the bank for loans received, the issuance and repayment of loans. All loan accounts are characterized by their general design: a loan is issued on their debit, repayment is on a loan, the client's debt to the bank is always on the left side, the debit side of the loan account.

Table 1 Loan account

For the purpose of opening, loan accounts can be deposit-loan, when the client gets the right, upon exhaustion of his own funds deposited with the bank, to receive a loan in a certain amount. Most often, such loan accounts can be used by the population, accumulating their savings in accounts and getting the opportunity, if necessary, to use a bank loan. It turns from a deposit account into a loan account if the balance on it becomes debit.

Loan accounts may be opened solely for the purpose of spending the loan currency. These are a kind of accounts with a credit turnover, with a decreasing debit balance, a one-time loan received for the purpose of its subsequent use and with a gradual loan repayment.

1.2 Organization of the process of lending to legal entities

1.2.1 Procedure for registration and issuance of a loan

Lending can be conditionally divided into several stages, at each of which the characteristics of the loan, the methods of its issuance and repayment are specified:

Consideration of a loan application and an interview with a client;

Study of the client's creditworthiness;

Preparation and conclusion of a loan agreement, loan issuance;

Formation of a reserve for possible loan losses;

Bank control over the fulfillment of the terms of the agreement and loan repayment (loan support);

Bank work with problem loans.

Consideration of a loan application and interview with a client

A client applying to a bank for a loan must submit an application-petition (loan application) in any form, which indicates:

Purpose of the loan, s brief description enterprises and possible economic effect as a result of the use of the loan;

Credit amount;

Term of use;

Estimated collateral;

Interest rate acceptable for the company.

The bank requires that the required documents and financial statements be attached to the loan application, which serve as the justification for the request for a loan and explain the reasons for applying to the bank. These documents are necessary component applications. Their thorough analysis is carried out at subsequent stages, after a bank representative conducts a preliminary interview with the applicant and draws a conclusion about the prospects of the transaction.

The package contains accompanying documents submitted to the bank along with the application, includes the following documents:

Feasibility study of the need for a loan with calculations of planned costs and expected receipts from product sales (FS);

A financial statement, including a balance sheet and a profit and loss statement, annual and at the latest, reporting dates with the STI marks of their acceptance. The balance sheet shows the structure of assets, liabilities and capital of the company. The profit and loss statement gives detailed information about the company's income and expenses, net profit, its distribution;

Statement of the movement of cash receipts, based on a comparison of the company's balance sheets for two dates and allowing you to determine the changes in various items and the movement of funds. The report gives a picture of the use of resources, the time of release of funds and the formation of a deficit in cash receipts;

Internal financial reports describing in more detail the financial position of the company, changes in its resource requirements during the year;

Internal management reports. Balance matching is time consuming. The bank may require operational accounting data, which are contained in notes and reports prepared for the company's management. These documents relate to transactions and investments, changes in accounts receivable and payable, sales, the amount of inventories;

A financing forecast containing estimates of future income, expenses, production costs, accounts receivable, inventory turnover, cash requirements, capital investments. There are two types of forecast: the estimated balance and the cash budget. The first includes a forecast version of balance sheet accounts and a profit and loss account for future period, the second predicts the receipt and expenditure of cash;

Business plans. Many loan applications are related to financing start-up businesses that do not yet have financial statements and other documentation. In this case, a detailed business plan is submitted, which should contain information about the goals of the project, methods of conducting operations;

Documents certifying ownership of property, real estate, certified by a notary;

Obligations to ensure the timely repayment of the loan (guarantees, sureties, insurance policies, securities);

References, acts of tax authorities, pension fund and off-budget funds to assess possible fines and the state of accounting.

For clients-borrowers with current accounts in other banks, the above list must be accompanied by notarized: charter, certificate of registration, memorandum of association, minutes of the meeting of founders, cards with sample signatures of account managers and a seal imprint.

An application for a loan goes to the appropriate loan officer and within one or two days must be considered by him for acceptance or refusal. The procedure for considering an application is different for regular and new clients, for clients who enjoy the bank's confidence and do not have it, who have experience in business activities, and for new, newly starting organizations. The assignment of potential borrowers to one or another group depends on the available information about the client, the objective and reasonable caution of the bank in choosing a client. The issuance of a loan without preliminary verification is not allowed, regardless of the importance of economic bodies, the powers of officials, interests and the expected effect (income).

Since the bank operates mainly with borrowed capital, a significant part of which can be claimed by the owners (depositors) in a short time, then, when considering an application for a loan, the bank must take into account the prospect of repayment of obligations to depositors. Therefore, before issuing a loan, it is necessary to assess the associated risk and, first of all, the likelihood of non-repayment of the loan on time. The safety of the principal amount of debt is one of the main principles that must always be observed when a bank conducts credit operations.

If during the preliminary survey the bank does not receive a satisfactory answer to the key questions related to the issuance of the loan, the application should be rejected unconditionally. In this case, it is necessary to explain to the applicant the reasons why the loan cannot be provided. Neither the availability of solid collateral nor any other positive factors can prevent a crisis situation if the loan is fundamentally unjustified.

After considering the application and before negotiating with the borrower, the responsible employee of the bank gets acquainted in advance with the reference, legal and financial documents confirming and characterizing:

Legal status and eligibility, powers of governing bodies;

The purpose and purpose of the loan, the reality of its execution;

Sources of repayment;

Guarantee methods;

Debts to other creditors.

The interview allows the borrower to personally substantiate the need for a loan, and the bank employee - to assess the nature and sincerity of his intentions. If the client is not convincing enough in specifying the goal and the reality of its achievement, or there are doubts about his decency in fulfilling the terms of the contract, these circumstances should be taken into account as a strong negative factor when considering a loan application.

Considering the loan application in essence, the bank may refuse a loan for the following reasons:

If the goals and means of achieving it, specified in the loan application, are at odds with the basic principles of the bank's credit policy;

If the share of the borrower - the owner in the total capital of his enterprise is insignificant;

If you are not sure about the advisability of issuing a loan;

If there is any doubt about the individuals involved in the loan transaction.

In this case, the application is filed in a separate file on applications that have not received approval. Maintaining banking business and business ethics require a polite, reasoned refusal. If the bank, following the results of consideration of the loan application and the preliminary interview, decides to continue working with the client, then the next stage begins - the stage of determining the borrower's creditworthiness.

Preparation and conclusion of a loan agreement

The decision on the advisability of issuing a loan is made either by an authorized official or by the relevant governing body of the bank. For the rational organization of credit work, the decision of the board determines the powers of the head of the credit department, deputy chairman of the board for loans. Maximum amounts are set within which loans can be disbursed. In some banks, the loan officer only develops the terms of the loan and prepares all the materials, while the right of approval belongs to the top administration and the credit committee, consisting of directors and experienced loan officers. In other banks, the loan officer can make a decision on all loan applications that he prepares, with subsequent approval by the credit committee. The Credit Committee is a special body authorized to consider or make decisions on most issues related to lending, and only in special cases submit them to the management board. The credit committee includes representatives of the board, credit, legal, currency and commercial departments, as well as the chief accountant of the bank.

The package of documents for consideration by the credit committee includes:

Conclusion loan officer,

Borrower questionnaire,

The conclusion of the security service,

The conclusion of the legal service.

If necessary, the package of documents can be supplemented with other documents that are essential when the credit committee makes a decision to issue a loan. The decision of the credit committee on the issue of granting a loan to a client is drawn up by an approval protocol, which is a confidential document.

If the credit committee makes a decision to refuse to issue a loan, the loan officer:

Notifies the client by sending him a reasoned refusal signed by the head of the credit department;

Makes a note about the refusal to issue a loan in the Application Registration Book;

Returns, at the request of the client, the documents submitted by him for consideration of the issue of issuing a loan, leaving copies of these documents in the loan file;

Places in the case of refusals to issue loans: a loan application, a package of documents, a protocol of an initial interview, a copy of a refusal letter to a client, a credit expert's conclusion, a security service's conclusion, a legal service's conclusion, a protocol of approval by the credit committee, a memo on the decision made by a higher credit committee.

In case of a positive decision to issue a loan, the loan officer:

Communicates to the client the decision of the credit committee in writing (letter, fax, etc.);

Marks a positive decision in the Application Registration Book;

Prepares a loan case.

After receiving permission to provide a loan, the bank begins to develop a loan agreement. This stage is called loan structuring. In the process of structuring, the bank determines the main characteristics of the loan: type of loan, amount, term, method of repayment, collateral, loan price, and other conditions.

The purpose of the loan. The first question that interests the bank is the purpose for which the loan is taken. The purpose of the loan serves as an important indicator of the degree of risk. When issuing a loan to a firm, the bank takes into account the frequency of bankruptcies in the industry and is cautious with regard to enterprises operating in unstable industries. When issuing a loan to a joint-stock company, the bank must make sure that the loan is taken to fulfill the purposes stipulated by the charter of the company. The purpose also determines the form of the loan.

Credit amount. The bank must verify the validity of the application in relation to the loan amount. It is important from the very beginning to correctly determine the required loan amount, because otherwise the bank will inevitably face a request to increase the loan in the event of a crisis. The danger is that the bank will be faced with an unpleasant alternative: to provide additional credit or to lose the money that has already been given to the borrower. Therefore, the bank, having received the client's calculations, must itself assess the required loan amount, making the necessary adjustments.

Loan repayment. When issuing a loan, the source of repayment must be clearly identified. There are two main sources: from the proceeds of income or from the sale of assets. The bank must check whether the conditions offered by the client correspond to his real possibilities. The creditworthiness of an enterprise primarily depends on the size and regularity of making a profit. With regard to the sale of assets (real estate, securities) as a method of repayment of a loan, the main danger is that the proceeds from the sale of them may be significantly less than necessary to repay the debt.

Loan term. The longer the loan term, the higher the risk, the more likely it is that unforeseen difficulties will arise and the client will not be able to repay the debt in accordance with the agreement. A commercial bank, based on the nature of the funds raised, must limit its lending activities in the field of medium and long-term operations in order to ensure the necessary balance sheet liquidity and satisfy the requirements of depositors.

Security. An important element of a credit transaction is what assets the borrower can pledge as collateral, who is the owner of the collateral, the location of the collateral, storage costs, how the property offered as collateral is valued. The decision to grant a loan should always be based on the merits of the funded project itself, and not on the attractiveness of the collateral. Without collateral, a loan can be issued only in cases where the borrower is highly reliable.

Interest rate. The rate is determined in the course of negotiations and is formed under the influence of supply and demand for loans in the loan capital market. The rate also varies depending on the risk inherent in the loan, its size and maturity, the condition of the borrower's deposit account and collateral. In addition, the rates are influenced by habits and traditions, competition between banks, the maximum interest rate established by law, as well as the assessment of the prospects for economic development by bankers and borrowers, and a number of other points. Interest rates for using a loan, the procedure, forms and timing of their payment are provided in loan agreement... The interest rate for a loan may be revised by the bank during the term of the loan agreement when the discount rate of the Central Bank of the Russian Federation changes, as well as when the level of rates in the credit market changes. The change in the interest rate is formalized by an additional agreement to the loan agreement. Changing the rate unilaterally is possible only if the clause is included in the loan agreement: "The bank has the right to unilaterally increase the amount of the loan fee in the event of an increase in interest rates of the Central Bank of the Russian Federation or an increase in the cost of attracted resources."

Interest is calculated on the debt that arises at the time of using the loan, until the date of repayment of this debt and is paid, as a rule, monthly or within the terms specified in the loan agreement, but at least once a quarter. In the event of an overdue debt, the borrower pays interest on the outstanding debt on time increased rate stipulated in the loan agreement. The funds received from the borrower are primarily directed to the payment of interest (including overdue). In the process of negotiations, the positions of the parties come closer, and they come to a compromise. After reaching agreement on the main issues of the transaction, a document is prepared summarizing the terms of the loan (loan agreement).

Loan documentation is extremely important, as the absence of any materials or their incorrect design can lead to large losses in the event of non-repayment of the loan and other fraudulent actions of the borrower. The bank must keep the following documents in the credit dossier:

Conclusion of a loan officer with a visa of the head of the loan department or his dissenting opinion;

Extract from the minutes of the meeting of the credit committee;

All the previously listed documents for the issuance of a loan, with the exception of the constituent documents, which are stored in the operational department;

Loan agreement;

Pledge agreement or other types of security for the repayment of the loan (surety, guarantee, insurance policy);

Pledged property appraisal report;

References of the conclusions of the legal service and the security service of the bank;

Bank analysis of the borrower's activities for the past period;

Orders for the back office to open a loan account and issue a loan, etc.

A loan agreement is a detailed document signed by both parties to a credit transaction and containing a detailed statement of all conditions. The main sections of the loan agreement:

General Provisions. It indicates: the name of the contracting parties; subject of the agreement, type of loan, its amount, term, purpose, interest rate; conditions for ensuring the fulfillment of obligations under the loan; the procedure for issuing and repaying a loan, as well as the procedure for calculating and paying interest on a loan;

Borrower's rights and obligations;

The rights and obligations of the bank. The rights and obligations of the borrower and the lender follow from the current legislation, and are also determined by the specifics of each credit transaction, the situation in the credit market, the creditworthiness of the borrower;

Responsibility of the parties;

Settlement of disputes;

Contract time;

Legal addresses.

1.2.2 Securing a loan

The form of ensuring the repayment of a loan should be understood as a specific source of repayment of an existing debt, legal registration of the creditor's right to use it, organization of bank control over the sufficiency and acceptability of this source.

Standard types of loan collateral accepted by the bank are:

Bank guarantee;

Guarantee of legal entities;

Pledge of movable and immovable property;

Assignment of claims (cession) and transfer of ownership.

Credit risk insurance

When registering security, the conclusion of the bank's legal service is required.

The amount of the loan collateral must fully cover the principal amount, interest for the entire period of use of the loan and the possible costs of selling the collateral, taking into account the possible decrease in the market price of the collateral.

If we are talking about a guarantee or surety, the expiration of the guarantee (surety) must be three or six months later than the loan repayment period established by the agreement.

Bank guarantee

By virtue of bank guarantee a bank, other credit institution or an insurance organization (guarantor) give, at the request of the borrower, a written obligation to pay the borrower's lender (beneficiary) in accordance with the terms of the obligation given by the guarantor, a sum of money upon submission by the beneficiary of a written demand for its payment.

The following procedure is recommended when accepting guarantees by the Financing and Lending Department in conjunction with the Interbranch and Interbank Settlements Department and the Legal Department.

A package of guarantor documents is being considered, including:

Original letter of guarantee addressed to the bank;

Guarantor's balances for the last two years;

Articles of Association, Memorandum of Association, guarantor's license (copies);

A notarized card of samples of signatures and seals of the guarantor;

Economic standards of the guarantor bank at the beginning of the month of applying for a loan;

According to the documents listed above, an analysis of the guarantor's solvency is carried out.

In case of a positive assessment of the guarantor's solvency in an oral (telephone) conversation with the guarantor's management, it is advisable to find out the following:

How well the guarantor knows the borrower, his capabilities, reliability; how and for what, the credit funds will be spent, what are the sources of their repayment;

Why the guarantor does not lend to the borrower himself;

The amount of the commission for the guarantee, terms and form of payment.

The responsibility of the guarantor arises in the event that the borrower fails to fulfill its obligations to pay interest or principal upon the expiration of the loan agreement.

The guarantor shall be notified of the fact of non-payment in writing. Within the period stipulated by the bank guarantee agreement, the guarantor bank receives payment requests for payment of interest and / or principal on the loan without acceptance, with the attachment of documents confirming the borrower's debt under the loan agreement. The originals of these documents are sent to the guarantor, copies are placed in the borrower's credit file.

If the guarantor fails to fulfill its obligations within 10 days, the Financing and Lending Department, together with the bank's legal service, prepares and issues a claim to the guarantor.

If a negative response is received from the guarantor or there is no response from him within one month from the date of the claim, the Financing and Lending Department, together with the Bank's Legal Department, prepares statement of claim to the arbitration court.

Surety

Under a surety agreement, the guarantor is obliged to the borrower's bank to be responsible for the latter's fulfillment of his obligations in whole or in part.

The source of the guarantee is the surety's own funds.

The guarantors can be enterprises of any form of ownership - joint stock companies, limited liability partnerships, state enterprises, any financially stable enterprises. It is preferable if the guarantor is a client of the bank.

The analysis of the financial condition of the guarantor - a legal entity, is carried out similarly to the analysis of the financial position of the borrower, and the procedure for concluding a surety agreement is similar to the procedure for concluding a bank guarantee agreement.

To ensure the execution of the surety agreement, the guarantor is obliged to submit to the bank an order for the direct debit of funds from their accounts with a mark of the servicing bank.

It should be borne in mind that when the terms of the loan agreement are changed, the corresponding changes must be made to the surety agreement.

By virtue of the pledge, the bank under the obligation secured by the pledge has the right, if the borrower fails to fulfill this obligation, to receive satisfaction from the value of the pledged property primarily to other creditors of the borrower, taking into account the exemptions established by law.

The pledger can be either the borrower or another organization that voluntarily pledged its property to the bank. However, with the consent of the owner - the relevant committee on property management, the right of the pledger can also be used by state-owned enterprises and budgetary organizations that own fixed assets on the basis of full economic management or operational management.

If the pledger is joint-stock company and the cost of the mortgaged property is from 25 to 50% book value assets of the company, the decision on the pledge must be unanimously adopted by the board of directors (supervisory board) of the company or submitted to the decision of the general meeting of shareholders. If the value of the property exceeds 50% of the book value of the company's assets, the decision must be made by the general meeting of shareholders by a majority of three quarters of votes of shareholders - owners of voting shares present at the meeting. Determination of the property value is carried out by the board of directors (supervisory board) of the company.

Assessment of the property or valuables pledged as collateral should be made based on the market value of the collateral, taking into account the possibility of its quick sale. In all cases, except for those expressly stipulated in this instruction, the assessment of the collateral is carried out with the involvement of an independent appraiser holding the appropriate license.

Accepted collateral is subject to periodic checks and revaluation when its market value changes.

The sale of the pledged property is carried out on the basis of a decision judiciary or on the basis of a notarized agreement of the parties.

Credit risk insurance

The company - the borrower enters into an insurance contract with the insurance company, which provides that in case of non-repayment of the loan in set time the insurer pays the bank that issued the loan compensation in the amount of 50 to 90% of the loan amount not repaid by the borrower, including interest on the loan.

1.2.3 Assessment of the creditworthiness and solvency of the borrower

One of the most important stages in the organization of the lending process is the assessment of the creditworthiness and solvency of the client. The viability of the bank often depends on the correct assessment. An incorrect assessment can lead to non-repayment of the loan, which in turn can disrupt the bank's liquidity and, ultimately, lead to the bankruptcy of the credit institution. Therefore, banks attach great importance to the development of a modern methodological framework for assessing creditworthiness, testing the qualifications of loan officers, as well as improving the system of monitoring and assessing credit risks.

The client's solvency is his ability and ability to timely pay off all types of obligations and debts.

The creditworthiness characterizes only the ability of the enterprise to repay the loan debt and interest on it.

In banking practice, when considering an application for a loan, both of these concepts exist in close relationship. Indeed, without an analysis of solvency, there is a danger of future manifestations of factors that will directly affect the client's creditworthiness. At the same time, the client's creditworthiness can be much higher than his solvency, since the loan can be repaid from the funds received from the sale of the pledged property, as well as from the funds of the guarantor (surety).

The result of the assessment of the loan application must be:

Formulation of conclusions about the creditworthiness of the borrower;

Determination of the type and characteristics of the loan product, which are most consistent with the general direction of the bank's business development with this client and the characteristics of this client.

Evaluation of loan applications is usually based on the application of a comprehensive rating system for assessing loan applications, which is carried out in accordance with the current methods for determining the credit risk group of loan products (i.e., by calculating points according to previously adopted criteria). In this case, a short client dossier is filled in in the prescribed form.

At the same time, the process of assessing the quality of the application should not be limited to its analysis according to the specified rating classification system (i.e., to the calculation of the risk group), since such a classification cannot take into account all the factors that affect the final assessment of a particular loan application. In addition, an orientation towards a purely quantitative method of analysis often leads to too general conclusions, which ignore the characteristics inherent in a particular client or product, and also do not take into account the factors influencing the risk group. For example, with the same level of borrowers' risk, the turnover on their accounts, the indicators of their financial condition and their profitability for the bank (i.e. the factors that must be taken into account when deciding whether to grant a loan) can vary greatly.

The assessment of a customer's creditworthiness is usually based on an analysis of the following criteria:

The quality of company management (management level);

The nature of the transaction being credited;

The bank's experience with this particular client (credit history);

The state of the industry and the region, the competitiveness of the client, the position of a particular client in the specified industry;

The financial situation of the client;

The possibility of the client providing the property for use as other security.

Management must have sufficient competence and experience to set realistic financial goals and objectives.

The bank's experience with the client (the nature of the relationship with the client). First of all, the loan officer must assess the strength of the bank's relationship with the client and its history. The factors that need to be analyzed when assessing the nature of the bank's relationship with the client include:

The duration of the borrower's relationship with the bank for lending, the bank's provision of other products to the client with credit risks, by settlement and cash services and for other types of banking services (products);

The quantitative parameters of the bank's operations with this client for all types of products (amounts and terms of loans, guarantees, etc., the amount of turnover on accounts, the amount of deposits, etc.);

Credit history.

Analysis of the external environment (regional and sectoral factors) is an important aspect of the bank's risk forecast for each loan requested.

After assessing the factors of the external environment associated with the loan application, in which the borrower operates, the level of management and the competitiveness of the products, works, services provided (rendered) by the client, the loan officer proceeds to the analysis of the financial statements.

A detailed comprehensive financial analysis of the borrower (cash flow, solvency, liquidity, the ratio of own and borrowed funds) and the loan object is carried out on the basis of the documentation at the disposal of the credit inspector. In this case, the inspector should use documents provided by the borrower himself, obtained from other sources, as well as documents already available in the bank and previously provided by the borrower (for previous loans and when receiving other services).

The main sources of financial information for analysis are:

The balance sheet of the enterprise (form No. 1);

Statement of financial results (form No. 2);

Statement of the movement of funds (form No. 4);

Balance sheet supplement (form No. 5).

It is obligatory to study the financial condition of the borrower in dynamics. To do this, it is necessary to obtain the borrower's financial statements for at least the last 3 quarters (with the exception of enterprises with foreign investments).

It is advisable to carry out a comprehensive analysis of the financial condition of the borrower in the following sequence:

Analysis of the structure of the borrower's assets and liabilities;

Analysis of the borrower's cash flows;

Analysis of the financial stability of the borrower;

Analysis of the effectiveness of the borrower.

Analysis of the structure of assets and liabilities of the borrower

It is advisable to group all active and passive items of the borrower's balance sheet according to the degree of their compliance with certain characteristics. So, the borrower's assets can be grouped according to their participation in the production process (current and non-current assets), as well as their level of liquidity. Liabilities are usually grouped by their sources of origin (equity and debt capital), as well as by their urgency.

It is customary to refer to the current and non-current assets of the borrower the balance sheet items specified in I, II sections of the balance sheet. The borrower's own sources include the items contained in Section IV of the balance sheet, as well as lines 640, 650, 660; to the attracted capital, respectively, articles V and VI of sections of the balance sheet, with the exception of lines 640, 650.660.

The relative value of different groups of assets and liabilities depends on which industry it belongs to. this enterprise... So, for industrial enterprises (industrial enterprises, transport, communications, etc.) the share non-current assets is usually 40-60% of the total assets, and, as a rule, the same share own sources funds. In trade (and other non-production) companies, the share of circulating assets, on the contrary, is usually 70-95%, and the same is the share of attracted sources of funds.

a) arrears to the budget and other obligatory payments (lines 625, 626 of the balance sheet);

b) short-term borrowed funds (line 610 of the balance sheet);

c) debt to creditors (lines 621,622,627, 628 of the balance sheet);

d) other short-term debt (lines 623,624,630 of the balance sheet);

e) long-term debt (line 510 of the balance sheet).

The borrower's assets are grouped accordingly according to the speed of their circulation into cash to fulfill the borrower's current obligations (according to the degree of liquidity):

a) highly liquid assets - cash balances of all types (line 260 of the balance sheet);

b) assets of medium liquidity - accounts receivable for up to a year (line 240), short-term and long-term financial investments (terms 250 and 140 of the balance sheet);

c) assets of low liquidity - low-liquid circulating assets - inventories and costs of all types (line 210), accounts receivable with a maturity of more than 12 months (line 230), other circulating assets (lines 220 and 270) and other low-liquid assets - fixed assets (line 120 of the balance sheet), construction in progress (line 130).

Various groups of assets can be converted into monetary form and used to pay off the arisen debt within a certain time: highly liquid assets - 1-7 days, medium-liquid assets - 8-60 days, low-liquid assets - more than 60 days.

After the appropriate grouping of balance sheet items, it is necessary to assess the dynamics of the relative change in various groups of assets and liabilities over the last several quarters: has there been a change specific gravity any of the sections of the balance sheet or a group of articles by more than 10%. If there are such changes, it is necessary to find out what caused this.

Particular attention should be paid to changing the structure of working capital, i.e. whether there has been an increase in accounts receivable, whether the level of stocks of raw materials is sufficient for the operation of the enterprise, whether there has been an overstocking of finished goods warehouses.

Analysis of the borrower's cash flows

Analysis of the size of the borrower's cash flows allows you to determine the sufficiency or excessiveness different types assets and liabilities, establish the level of activity of the enterprise and identify whether it has enough cash to repay bank loans and interest on them.

For the analysis of cash flows, the following are used: data of Form No. 2 and Form No. 4 of the periodic financial statements, decoding of the borrower's turnover on current (settlement) accounts and bank statements for the specified client accounts.

At the first stage of the analysis, the loan officer needs to determine the average monthly amount of proceeds from sales for the last three full calendar months, which is reflected in line 010 of Form No. 2.

The proceeds from the sale of the borrower consists of both cash receipts to his bank accounts, and from netting and other amounts, not accompanied by the movement of cash, which the company actually has and which it can use to repay loans granted to it. Therefore, an important indicator is the amount of actual cash receipts to the client's current and settlement accounts with Russian banks.

Data on cash receipts to the borrower's accounts can be obtained either on the basis of a set of extracts from the client's accounts, or according to the data of Form No. 4 of the financial statements (cash flow statement).

The borrower's turnovers according to Form No. 4 are determined by summing lines 30, 50 and 90, which reflects in a fairly full measure regular receipts to the client's accounts.

After determining the total amount of cash receipts to the borrower's accounts, it is necessary to find out their seasonality and regularity. The seasonality of cash receipts is understood as a change in the total amount of funds arriving at the client's account in a particular quarter, and regularity is a corresponding change in the cash flow within a quarter. Such an analysis allows, firstly, to identify seasonal patterns in the borrower's activities (if any), and secondly, to get an idea of ​​how well-established his financial and economic activities are, and, in addition, to understand the main cycles of the enterprise.

Along with the determination of the borrower's turnover for previous periods of great importance is the correct forecasting of cash receipts to the accounts of the enterprise in the future. After all, it is from these funds that the loan debt will be repaid. Due to this, the loan officer needs to draw up a schedule of the largest future receipts to the borrower's accounts, to determine the likelihood of their implementation. On the basis of these data, he must conclude whether the company will have sufficient funds to repay the loan.

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INTRODUCTION CHAPTER

1 THEORETICAL BASIS OF THE LENDING PROCESS

1.1 The essence of lending

1.2 Organization of lending to legal entities in a commercial bank

1.3 The current state of lending to legal entities in Russia

1.4 Legal and regulatory framework for lending in Russia

CHAPTER 2 ORGANIZATION OF LENDING TO LEGAL ENTITIES IN

PENZA BRANCH OF OJSC AKB "ROSBANK"

2.1 General characteristics of the research object

2.2 Basic conditions and parameters of lending to legal entities in

PF OJSC AKB "ROSBANK"

2.3 The process of lending to legal entities in the Pension Fund of OJSC AKB

"ROSBANK" (for example, LLC "Agro-guarantor")

CHAPTER 3 LENDING OPTIMIZATION PROPOSALS

LEGAL ENTITIES IN THE COMMERCIAL BANK

CONCLUSION

BIBLIOGRAPHY

ANNEXES

INTRODUCTION

The term "commercial bank" originated in the early stages of the development of banking, when banks served mainly trade, commodity exchange operations and payments. The main clientele was merchants. Banks credited transportation, storage and other operations related to the exchange of goods. With the development of industrial production, operations arose for short-term lending of the production cycle: loans to replenish working capital, create stocks of raw materials and finished products, pay salaries, etc. The terms of loans were gradually increased, part of the banking resources began to be used for investments in fixed assets and securities. Recently, there have been significant changes in the formation of the Russian banking system. Leading banks have been identified, the main areas of banking specialization have been formed, and the division of the client base between financial institutions has been completed.

The transition of Russia to a market economy, an increase in the efficiency of its functioning, the creation of the necessary infrastructure cannot be ensured without the use and further development of credit relations.

Credit stimulates the development of productive forces, accelerates

the formation of sources of capital for expanding reproduction based on the achievements of scientific and technological progress.

Without credit support, it is impossible to ensure the rapid and civilized formation of farms, enterprises, the introduction of other types of entrepreneurial activity in the domestic and foreign economic space.

The objective need for lending to enterprises is due to the peculiarities of the circulation of capital, which are: the constant formation of cash reserves, different duration of the turnover of funds in the economy, the close intertwining of cash and non-cash turnover, the separation of funds within the framework of economic entities. In the process of circulation, funds in some economic links are released, while in others there is a need to use them.

The need for lending is also due to the commercial organization of management in market conditions, when at each enterprise in the conditions of capital circulation there is an additional need for funds. With the help of the credit mechanism, enterprises receive the funds they need for normal operation.

Credit is of great importance in the development of economic ties between industries and regions, in increasing production efficiency, in the creation and use of income and profits. Credit is able to actively influence the volume and structure of the money supply, payment turnover and the speed of money circulation. Thanks to the loan, there is a faster process of capitalization of profits, and hence the concentration of production. Consequently, the topic of the thesis is relevant.

The purpose of the thesis is to analyze the process of lending to legal entities in a commercial bank. Upon reaching this goal, the following tasks were solved:

Study of the essence of lending;

Study of the organization of lending to legal entities in a commercial bank;

Analysis of the current state of lending to legal entities in Russia;

Familiarization with the main regulatory legal acts governing legal lending in Russia;

Compiled a general description of the research object of the PF OJSC AKB "ROSBANK",

The basic conditions and parameters of lending in the PF OJSC AKB "ROSBANK" have been studied.

The process of lending to legal entities in PF OJSC AKB "ROSBANK" is considered in detail

To achieve this goal, regulatory and legislative acts, works of specialists and bank figures, statistical data, research articles in periodicals.

In addition to theoretical research, practical data from the Penza branch of OJSC AKB ROSBANK, documents drawn up when applying for a loan and oral consultations of bank employees were also used.

All this made it possible to fully and in detail consider the process of lending to legal entities as a whole, its individual aspects. The theoretical and documentary aspects of the process have been studied.

CHAPTER 1 THEORETICAL BASIS OF THE PROCESS

CREDITS

1.1 The essence of lending

Bank lending to enterprises and other organizational and
legal structures for production and social needs is carried out with strict adherence to the principles of lending. The principles of lending represent
constitute the basis, the main element of the lending system, since they reflect
the essence and content of the loan, as well as the requirements of objective economic laws, including in the field of credit relations.
The principles of lending include: the quality of the borrower, purpose, urgency of repayment, differentiation, security and
chargeable.
Borrower qualities. Commercial banks operate mainly with borrowed capital, a significant part of which can be claimed by owners in a short time and without prior notice. When considering an application for a loan, the bank must always take into account the prospect of repayment of obligations to depositors. Therefore, before issuing a loan, it is necessary to assess the associated risk and, first of all, the likelihood of non-repayment of the loan on time. The safety of the principal amount of debt is one of the main principles that must always be observed when a bank conducts credit operations. When receiving an application for a loan, the bank must study not only different aspects of the loan transaction, but also assess the personal qualities of the borrower, be it a private person or the head of a company. Assessing the personality of the client, the bank primarily focuses on the following points: decency and honesty, professional skills. These key qualities of the client are of paramount importance for the bank.

Special purpose. The first question that interests the bank is: "What is the loan taken for?" The purpose of the loan depends on the category of the borrower. If this is a private (natural) person, then he takes a consumer loan for the purchase of real estate, durable goods, or a personal loan to pay off debts, payment of tuition fees. When it comes to
entrepreneurs, the purposes of the loan will change significantly: they need capital to finance capital expenditures, purchase equipment, raw materials and materials, pay salaries to staff, and repay urgent obligations. The purpose of the loan serves as an important indicator of the degree of risk associated with the issuance of a loan. The bank, for example, avoids issuing loans for speculative transactions, since repayment depends on the outcome of dubious and sometimes illegal transactions and, therefore, carries a high risk. When issuing a loan to a firm, the bank takes into account the frequency of bankruptcies in the given industry, and, naturally, is cautious with regard to enterprises operating in unstable industries.
The purpose also determines the form of the loan. So, if the borrower with a loan
seeks to bridge the short-term cash flow gap
and payments, the most suitable form of loan is overdraft.
Financing capital expenditures requires other forms of lending, such as
example, a term loan.

Repayment is the feature that distinguishes the loan as economic category from other economic categories of commodity-money relations. Credit cannot exist without repayment. Repayment is an integral feature of the loan, its attribute. The urgency of lending is a necessary form of achieving loan repayment. The principle of urgency means that the loan should not just be repaid, but repaid within a strictly defined period, that is, the time factor finds a concrete expression in it. And, therefore, urgency is a temporary certainty of the loan repayment. The loan term is the maximum time the loaned funds are in the borrower's household and acts as a measure beyond which quantitative changes over time turn into qualitative ones:
if the term for using the loan is violated, then the essence of the loan is distorted,
he loses his true purpose, which negatively affects the
the standing of money circulation in the country. This is confirmed by the co-
temporary position with monetary circulation in the country, which, along with
By other factors, the practice of prolonged violation of the principle of urgency in lending to certain industries and costs under a planned centralized management system also had a certain impact.
With the transition to market conditions of management, this principle
lending is given more importance than ever before. First, from his co-
observance depends on the normal provision of social reproduction
cash, and, accordingly, its volumes, growth rates. In-
second, compliance with this principle is necessary to ensure liquidity
of the commercial banks themselves. The principles of organizing their work do not allow
they invest the attracted credit resources in irrecoverable investments
zheniya. Third, for each individual borrower, compliance with the principle
the urgency of the loan repayment opens up the possibility of obtaining new loans from the bank, and also allows you to comply with your self-supporting interests without paying increased interest for overdue loans. The terms of crediting are established by the bank based on the terms of the turnover of the credited material assets and the recoupment of costs, but not higher than the normative ones. Two other principles of lending, such as differentiation and security, are very closely related to the principle of urgency of repayment of a loan.
Differentiation of lending means that commercial banks do not have to unambiguously approach the issue of granting a loan to their clients applying for it. Credit must be provided
only to those economic agencies that are able to return it in a timely manner. By-
this differentiation of lending should be carried out on the basis of while
creditworthiness indicators, which is understood as the financial condition
an enterprise that gives confidence in the ability and willingness of the borrower
return the loan within the period specified in the agreement. These qualities are potential -
borrowers are assessed by analyzing their balance sheet on liquid
ness, provision of the economy with its own sources, the level of its
profitability at the moment and in the future.
Assessment of the creditworthiness of economic entities applying for a loan, pro -
led by banks before the conclusion of loan agreements, gives them the opportunity
to a certain extent insure yourself against the risk of untimely
credit gate (and related losses for banks) and, therefore,
to anticipate the observance of the principle of the urgency of crediting by the economic bodies.
Differentiation of lending based on the creditworthiness of economic entities,
prevents the coverage of their losses and losses at the expense of a loan and serves as a necessary
a necessary condition for its normal functioning on the basis of return -
nosti and payment. Timeliness of loan repayment is in tight
dependence not only on the creditworthiness of borrowers, but also on the security
the value of the loan. Until recently, the principle of credit security was interpreted by our economists very narrowly: only the material security of the credit was recognized. This meant that loans had to be issued against specific material values ​​that were at various stages of the reproduction process, the presence of which throughout the entire period of use of the loan testified to the security of the loan and, therefore, the reality of its return. Meanwhile, in the world banking practice, the types of credit security, in addition to material assets formalized with a pledge obligation, are guarantees and sureties of solvent legal entities and individuals, respectively, as well as insurance policies of the risk of non-repayment of a bank loan issued by borrowers in an insurance company. Moreover, not only one, but all of the listed forms of legal obligations can simultaneously serve as security for the credit issued to the economic agency by the bank. Only with the adoption of the Law "On Banks and Banking Activities" the commercial banks of the Russian Federation were able to issue loans to their clients against various forms of loan security. Thus, in modern conditions, speaking about the security of loans, one should bear in mind that the borrowers have legally formalized obligations that guarantee the timely repayment of the loan: a pledge obligation, a guarantee agreement, a surety agreement, an insurance agreement for liability of non-repayment of the loan. Security of obligations on bank loans in one or several forms at the same time is provided by both parties to the credit transaction in the credit agreement concluded between themselves.

Mechanism of lending to legal entities and individuals by a commercial bank …………………………………………………………………………… ..

Methodology for assessing the creditworthiness of a potential borrower by a commercial bank …………………………………………………………….

Evaluation of the effectiveness of various methods of granting a loan …….

Initial data for the implementation of section number 1 of the course work ……… ..

Approximate control (test) questions …………………………… ...

Bibliography…………………………………………………………..

In the section of coursework No. 1 "Assessment of the creditworthiness of a potential borrower by a commercial bank and the effectiveness of methods of granting loans", it is necessary to assess the creditworthiness of a potential borrower by a commercial bank in order to obtain a long-term loan for them to satisfy temporary financial difficulties, as well as evaluate the effectiveness of various methods of granting loans.

The mechanism of lending to legal entities and individuals by a commercial bank

The organization of financial and credit services for enterprises, organizations and the population, the functioning of the credit system play an extremely important role in the development of economic structures. Not only the timely receipt of funds by individual economic units, but also the rate of economic development the country as a whole. At the same time, the evolution of the credit system and credit business is fully determined by the economic situation in the country, the prevailing forms and mechanism of management. Each stage of the historical and economic development of the national economy has its own type of organization of the credit business, its own structure of the credit system, which meets the corresponding needs in credit and financial services for individual links of the economy.

The changes taking place in the Russian economy presuppose significant changes in the relationship between commercial banks and business entities. The high riskiness of banking activities is mainly related to the conditions and results of the activities of its clients. Analysis of the structure of assets of the banking system of Russia shows that more than a third of them are in the loan portfolio. The bank's lending operations are the leading ones among others, both in terms of profitability and in terms of the scale of placement of funds.

In the current business environment, Russian commercial banks are forced to work in emergency circumstances. They found themselves in the center of many contradictory, crisis and difficult to predict processes taking place in the economy, politics and the social sphere. The crisis of non-payments increases the risk of a customer defaulting on a loan to a bank. Therefore, at the moment, methods for assessing the quality of potential borrowers are of particular importance. The starting point in assessing the possibilities of a potential borrower who wants to get a loan is the bank's determination of the borrower's ability to repay the principal amount of the loan at a specified time and pay interest for using it.

The lending mechanism assumes a specific method of providing a loan, the choice of which depends on the characteristics of the production and commercial cycle of the borrower, the uniformity of proceeds from sales, credit history, as well as on the nature of the borrower's need for borrowed funds (temporary or permanent). Thus, trade enterprises traditionally use a significant share of borrowed funds in their turnover; the speed of capital turnover and the uniformity of the receipt of trade proceeds allow them to borrow funds without disturbing their liquidity.

In accordance with the Regulation of the Bank of Russia "On the procedure for granting (placing) funds to credit institutions and their return (repayment)" dated August 31, 1998 No. 54-P, credit is provided to legal entities only by bank transfer by crediting funds to the settlement (current) the borrower's account, including when providing a loan to pay for payment documents. Individuals can receive a loan both by bank transfer (by crediting to a bank account) and in cash (through the bank's cash desk). Loans in foreign currency issued to both legal entities and individuals only in a non-cash manner.

Loan granting methods:

· One-time crediting of funds or one-time issuance of cash (to an individual);

· Opening a credit line, i.e. conclusion of an agreement (contract) on maximum amount loan that the borrower will be able to use within a specified period and subject to certain conditions of the agreement. The opening of a credit line should also be understood as the conclusion of an agreement for the provision of funds on any terms other than the terms of a one-time loan agreement. Within the limit of the credit line, the borrower is provided with a loan by paying payment documents as required or in separate tranches. Repayment of a loan under a credit line can occur both within a certain time frame based on the client's urgent obligations, and as the funds are received on the borrower's account;

· Crediting by the bank of the settlement (current, correspondent) account of the client of the bank in case of insufficient or lack of funds on it and payment of settlement documents received in the name of the client. Such a loan is called overdraft;

· Participation in the provision (placement) of funds to a bank client on a syndicated (consortium) basis (several banks are united to issue a large loan).

The return (repayment) of the loan and the payment of interest on it can be made by debiting funds from the borrower's current account on his payment order, as well as debiting funds in the order of the established sequence based on the bank's payment request. In the latter case, when concluding a loan agreement, the borrower must document his consent to the direct debiting of funds from his account to repay the loan.

If there is a lack of funds on the borrower's current account, the bank first of all collects interest on the loan, and then the principal debt.

Individuals can return loans and pay interest on them from their bank accounts on the basis of their written orders, as well as by postal order, cash deposit to the bank's cash desk. Repayment of loans received by borrowers who are employees of the bank, and interest on these loans can be made by deductions from the amounts due to them wages.

Repayment of loans in foreign currency is made only by bank transfer.

If the borrower has not paid the due amount within the time frame established by the agreement, his debt on repayment of the principal debt or payment of interest is transferred to the account of overdue debt on the principal debt or interest.

Information support of credit transactions for the issuance of a loan is preceded by a large preparatory work of the bank, during which the creditworthiness of the borrower is studied, the parameters of lending are determined - the amount, terms, payment for the loan, the lending mode is selected. The bank must use all available sources of information about the potential borrower. An interview with a potential borrower is conducted, questionnaires are filled out. If the client has already received a loan from this bank, the loan officer has the opportunity to familiarize himself with his credit history, which is in the bank's archive. The form of maintaining credit history is not regulated.

Credit history is the documents submitted by the borrower (account statements and (or) other documentary confirmation by the borrower of the fact that he attracted bank loans and confirms his fulfillment of the terms of the credit transaction. payments over five calendar days).

The Bank of Russia is creating a "Credit Bureau", an information service, which is a databank on the financial condition, credit histories of clients of various banks, where it will be possible to request information about the future borrower.

One of the main ways to avoid loan defaults is the careful and qualified selection of potential borrowers. The main means of such selection is the economic analysis of the client's activities from the standpoint of his creditworthiness.

The bulk of the operations of commercial banks and enterprises are related to the provision of loans (loans), settlements and deposit operations. An important issue in this case is the determination of the payment for the attracted or allocated resources.

Borrower - a recipient of a loan, a loan, undertaking an obligation to guarantee the return of the funds received, payment of the loan provided.

Creditworthiness- this is the financial condition of the company - a potential borrower, which gives confidence in effective use borrowed funds, the ability and willingness of the borrower to repay the loan in accordance with the terms of the loan agreement.

World and domestic banking practice has made it possible to single out the criteria for assessing the credit risk and creditworthiness of the client:

· The character of the client;

· Ability to borrow funds;

The ability to earn funds to pay off debt ( financial opportunities);

· Capital;

· Loan security;

· The conditions in which the credit operation is performed;

· Control (legislative basis of the borrower's activities, compliance of the nature of the loan with the standards of the bank and supervisory authorities).

The nature of the client is understood as his reputation as a legal entity, the degree of responsibility for debt repayment, the clarity of his understanding of the purpose of the loan, compliance with this purpose credit policy jar.

The ability to borrow means that the client has the right to apply for a loan, sign a loan agreement or negotiate, the legal capacity of the borrower is an individual. The ability to earn funds to pay off debt in the course of current activities is determined by the liquidity of the balance sheet, the profitability of the borrower, its cash flows.

For such a criterion of a client's creditworthiness as capital, two aspects of assessment are most important: capital adequacy (analyzed based on the requirements for the minimum level of capital and financial leverage ratios); the degree of equity capital investment in the loaned operation (indicates the distribution of risk between the bank and the borrower).

Loan security refers to the value of the borrower's assets and a specific secondary source of debt repayment (collateral, guarantee, surety, insurance) provided for in the loan agreement. If the ratio of the value of assets and debt liabilities is important for the repayment of a loan in a bank in the event of a bankruptcy of the borrower, then the quality of a specific secondary source guarantees that the borrower will fulfill his obligations on time in case of financial difficulties.

The last criterion is control, i.e. legal basis for the borrower's activities, compliance of the nature of the loan with the standards of the bank and supervisory authorities.

A client applying to a bank for a loan must submit an application containing the initial data on the required loan:

Loan amount

· on what period

· Supposed collateral.

The application must be accompanied by documents and financial statements that serve as the justification for the request for a loan and explain the reasons for contacting the bank. These documents are a necessary part of the application. Their thorough analysis is carried out at subsequent stages, after the bank's representative conducts a preliminary interview with the borrower and draws a conclusion about the prospects of the transaction.

In large banks of many countries, the package of accompanying documents provided to the bank with the application includes the following documents:

· Notarized copies of constituent documents of the borrower's company;

· Financial statement, including balance sheet and income statement for the last three years;

· Statement of cash flow;

Internal financial reports (characterize in more detail the financial position of the borrower, the change in its need for resources during the year, quarterly or monthly)

· Data of internal operational accounting;

· A financing forecast, which contains estimates of future sales, expenses, production costs, accounts receivable, inventory turnover, cash requirements, capital investments, etc .;

· tax returns;

· Investment business plan. Many loan applications are related to financing start-up businesses that do not yet have financial statements and other documentation. In this case, the borrowing company provides the bank with a detailed business plan, which should contain information about the goals of the project and the methods of its implementation.

The application goes to the appropriate loan officer, who, after consideration, conducts a preliminary conversation with the future borrower - the owner or representative of the company's management. Such meetings allow the credit inspector to find out not only the important details of the loan transaction, but also to draw up a psychological portrait of a potential borrower, assess the professional preparedness of the company's management, the realisticness of their assessments of the situation and prospects for the development of the enterprise. During the conversation, the loan officer does not need to find out all aspects of the work of the company - the borrower, he must concentrate on the key issues of interest to the bank - the lender.

For determining economic feasibility, the loan amount, the amount of the loan payment and the loan term, the following information is provided (with a breakdown by years of the planned implementation period investment project):

· About the amount and structure of capital investments (the cost of construction and installation work, the cost of equipment);

Development schedule production capacity(percentage of the design capacity developed in each year);

· Data on the estimated sales volumes, production costs, estimated profit for the commissioned facility;

· Information about the sources of financing the investment project;

· Plan of cash receipts and payments by years.

After issuing a loan, the bank monitors the intended use of the loan, the financial condition of the borrower and the timely and complete receipt of loan payments.

To exercise control, the bank uses the rights stipulated in the loan agreement:

· - demand from the borrower all the necessary primary, accounting and reporting documents confirming the direction of the loan;

· Send their specialists to the location of the borrower to check his financial and economic activities or the availability of appropriate security for the loan (mortgaged property and proper conditions for its maintenance).

If the borrower violates the terms of the loan agreement or the occurrence of circumstances that increase the level of credit risk, the bank has the right:

· Demand changes in the terms of the loan agreement;

· Limit or completely stop providing a loan to the borrower;

· Present to the borrower (or his guarantor), in the event of an overdue debt, a demand to return the corresponding amounts to the bank and / or to write off without authorization from the accounts of the borrower (or guarantor).

If there is a need for early collection of the loan amount due to the borrower's failure to comply with the terms of the loan agreement, the bank sets a specific term for repayment of the loan debt and notifies the borrower about it. Within the period specified by the bank, the borrower must transfer funds to repay the loan.

If payments for loan repayment are not received by the due date specified in the loan agreement and the payment schedule, the amount of outstanding debt on the next business day is transferred to the account of overdue loans with the collection of increased interest for using the loan.

Simultaneously with the transfer of the outstanding debt to the account of overdue loans, the bank makes a payment request to the borrower to write off this debt and the interest due for using the loan.

The bank can provide a deferred loan repayment. To consider the issue of deferred repayment, the borrower must submit to the bank, as a rule, 15 days before the loan maturity date, a reasoned application.

The decision to defer the loan repayment is made by the credit committee in the manner determined for the issuance of the loan, and is drawn up by an additional agreement to the loan agreement with a corresponding prolongation of guarantees.

Interest rates on loans are set in accordance with their minimum level approved by the bank's credit committee.

Interest is calculated on the amount of the actual debt on the loan, as a rule, on a quarterly (monthly) basis during the payment period on the basis of 365 days.

The borrower is obliged, no later than the specified period, to repay the debt on interest by transferring them by payment order to the bank account. The specific maturity date must be specified in the loan agreement.

When untimely transfer interest, the bank calculates a penalty on the amount of unpaid interest, has the right to terminate the loan agreement and present a collection order to the borrower's account.

The bank may write off the amount of accrued interest from the current account of the borrower, if it is maintained in the bank, which should be provided for in the loan agreement.

If the amount contributed by the borrower is insufficient to pay off the principal debt, accrued interest on the loan and penalties (fines, penalties), then the penalty (fines, penalties) and interest for using the loan are paid off first, and the remaining amount is used to pay off the principal debt.

The interest in the final settlement is paid by the borrower no later than the established date of repayment of the last principal amount under this loan agreement.

METHODOLOGY FOR ASSESSING THE CREDIT CAPACITY OF A POTENTIAL BORROWER BY A COMMERCIAL BANK (Task No. 1, Task No. 3)

There are many methods for assessing the quality of borrowers - methods for analyzing the client's financial position and its reliability in terms of timely loan repayment. The currently used and recommended methods for assessing the creditworthiness of a borrower are based mainly on the analysis of his activities in the previous period and are focused mainly on solving calculation problems. For all the significance of such estimates, they cannot exhaustively characterize the creditworthiness of a potential borrower in the forecast.

The methods for assessing the creditworthiness of a bank client are:

· Management assessment;

· Assessment of the financial stability of the client;

· Analysis of cash flow;

· Collection of information about the client;

· Monitoring the client's work by going to the site.

The specificity of assessing the creditworthiness of legal entities and individuals, large, medium and small clients determines the combination of the applied assessment methods.

Let us consider the assessment of the creditworthiness of a legal entity using the example of the methodology of the Joint-Stock Commercial Savings Bank of the Russian Federation (Sberbank of Russia). Sberbank of Russia establishes 3 classes of borrowers:

· First-class - crediting of which is beyond doubt;

· Second class - lending requires a balanced approach;

· Third class - lending is associated with increased risk.

Task number 1. To determine the creditworthiness of the borrower, an assessment of his financial condition is carried out (quantitative analysis). To assess the financial condition of the Borrower, three groups of assessment indicators are used:

· Liquidity ratios;

· The ratio of equity and borrowed funds;

· Indicators of turnover and profitability.

Liquidity ratios characterize the provision of an enterprise with circulating assets for conducting economic activities and timely repayment of urgent obligations. The following liquidity ratios are usually calculated:

1) absolute liquidity ratio(K1) characterizes the ability to instantly repay debt obligations and is defined as the ratio of cash and highly liquid short-term securities to the most urgent liabilities of the enterprise in the form of short-term bank loans, short-term loans and various accounts payable.

2) current liquidity ratio or intermediate coverage ratio(K2) characterizes the ability of an enterprise to quickly release liquid assets from economic circulation and repay debt obligations and is defined as the ratio of cash, short-term financial investments and settlements to short-term liabilities.

3) overall coverage ratio(K3) is a generalizing indicator of the company's solvency, in the calculation of which all current assets are included in the numerator, and short-term liabilities are included in the denominator.

Equity to borrowed funds ratio(K4) is one of the characteristics of the financial stability of an enterprise and is defined as the ratio of equity (net of losses) to the total amount of obligations on borrowed funds.

As an indicator of the third group, you can use return on investment in the company(K5), which is defined as the ratio of profit before tax to the total balance.

The evaluation of the calculation results of the five ratios consists in assigning a class to the borrower for each of these indicators based on a comparison of the obtained values ​​with the established normative ones. Further, the sum of points for these indicators is determined in accordance with their weights. The noted characteristics are presented in table. 3.

The formula for calculating the amount of points S is as follows:

S = 0.11 Class K1 + 0.05 Class K2 + 0.42 Class K3 + 0.21 Class K4 +

0.21 · Class K5.

Table 1

Scale for determining the class and weight of the coefficients

S = 1 or 1.05 - the borrower can be attributed to the first class of creditworthiness;

S is more than 1.05, but less than 2.42 - corresponds to the second class;

S equal to or greater than 2.42 - corresponds to the third class.

Further, the preliminary rating determined in this way is adjusted taking into account other indicators of the third group and the qualitative assessment of the borrower. If these factors are negatively influenced, the rating can be lowered by one class.

Banks build their credit relations with enterprises of each creditworthiness class in different ways. For example, commercial banks can open a line of credit, lend on a checking account, issue unsecured (unsecured) loans on a one-time basis, setting in all cases a lower interest rate than for all other borrowers, for first-class borrowers in terms of creditworthiness.

Lending to second-class borrowers is carried out by banks in the usual manner, i.e. in the presence of appropriate forms of security obligations (guarantees, pledges, sureties, insurance policy). The interest rate accordingly depends on the type of collateral.

The provision of loans to third-class clients is associated with a serious risk for the bank. In most cases, banks try not to issue loans to such customers. If the bank decides to issue a loan to a client of the 3rd class, then the amount of the loan provided should not exceed the size of the authorized fund of the organization. The interest rate for the loan is set at a high level.

In the event that a loan was issued to a client earlier, before the deterioration of his financial situation, the bank must analyze the causes and consequences of the current situation in order to save the company from bankruptcy, and if this is impossible, stop its further lending.

Based on the obtained creditworthiness class from table 1, the interest rate at which the client will be issued a loan is selected. Rate i1 corresponds to 1 credit grade, i2 to the second and i3 to the third. In what follows, the rate selected in accordance with the class will be denoted by i.

Task number 3. The volume of turnover of a potential borrower on accounts with Sberbank of Russia at the end of the period:

where O is the volume of monthly turnovers on settlement and current foreign currency accounts with Sberbank of Russia,

K - the amount of the principal debt on the loan,

P - the amount of obligations to pay interest for the entire period of use of credit resources,

T - loan term.

EVALUATION OF THE EFFECTIVENESS OF DIFFERENT METHODS OF PROVIDING LOANS (Task No. 2)

Transition to market economy accompanied by the emergence of some types of activities that have a fundamentally new character for the enterprise. These include the task of effective investment of funds. In a centrally planned economy, such a task practically did not exist at the level of an ordinary enterprise. There were several reasons.

First of all, neither legal entities, nor individuals officially, as a rule, had large free funds. In particular, the monetary resources of the enterprise were strictly limited by direct or indirect methods. Thus, cash was limited by establishing State bank the maximum amount of funds that could be in the cash register at the end of the working day. The amount of funds in the current account was limited by indirect methods, mainly by withdrawing funds to the budget at the end of the reporting period, as well as by introducing rather strict standards for its own working capital.

Another reason was that practically the only way to use free money was to place it at interest in savings bank... The stability of economic development, which turned out to be, as it is now customary to say, stagnation, guaranteed in this case not only the safety of funds, but also their small growth.

The situation changed dramatically in last years... There are at least six main points that can be distinguished. Firstly, many restrictions were abolished, in particular, the rationing of working capital, which automatically excluded one of the main regulators of the value financial resources at the enterprise.

Secondly, the procedure for calculating financial results and distributing profits has radically changed. With the introduction of new forms of ownership, it became impossible to withdraw profits to the budget by a volitional method, as was done in relation to state-owned enterprises, thanks to which enterprises had free funds.

Third, as mentioned above, there has been a significant reassessment of the role of financial resources, i.e. there was a need for competent management of them, and in various aspects - by type, by purpose, in time, etc.

Fourth, fundamentally new types of financial resources have appeared, in particular, the role of monetary equivalents has increased, in the management of which the time aspect is of decisive importance.

Fifth, there have been fundamental changes in investment policy options. The transition to the market opens up new opportunities for capital investment: investing in commercial banks, participating in various kinds of risky ventures and projects, purchasing securities, real estate, etc. By placing capital in one of the selected projects, the financial manager plans not only to return the invested amount over time, but also to obtain the desired economic effect.

Sixth, in the context of financial instability inherent in the transitional period, manifested in persistently high inflation rates and a decrease in production volumes, it has become unprofitable to keep your money even in a state bank. Many enterprises have learned from their own experience a simple truth: in conditions of inflation, monetary resources, like any other type of assets, must circulate and, as soon as possible.

Any financial transaction carried out by a commercial bank is accompanied by two processes: accumulation and discounting.

Build-up- the process of increasing the amount of the initial capital due to the addition of accrued interest.

Discounting- the reverse process of the accrual, in which the expected in the future to be received (returned) amount and the rate are set.

The accumulated value formation process is shown in Fig. 1.

Rice. 1 The process of formation of the accrued value

Thus, money acquires another characteristic - time-value of money. This parameter can be considered in two aspects. The first aspect relates to the depreciation of cash over time. The second aspect is related to the circulation of capital (cash).

We will give a definition of the basic terms that are used in the course work.

Accrued interest amount(I) is the absolute value of income from lending money.

Interests differ according to the basis for their accrual. If the basis for calculating interest remains constant throughout the entire period, then it is simple interest. If the base for calculating interest is constantly changing due to the addition of previously accrued interest to it, then this is compound interest.

Also, interest differs in the time of their accrual. If interest is calculated at the end of each interval (period) of accrual, then this is a decursive method of calculating interest. If interest is calculated at the beginning of each interval (period), then this is an antisipative method.

Interest rate(i) is the ratio of the amount of accrued interest paid (received) per unit of time to the original amount of debt. Interest on this type of rate is accrued according to the decursive method.

Interest rates differ according to the principle of volatility. If the interest rate is fixed for the entire term, then it is a fixed interest rate. A floating interest rate is an interest rate (discount rate) on loans, the amount of which is periodically reviewed at agreed intervals (interest periods).

Effective interest rate (i eff) - this is the real interest rate that the borrower pays for the purchase and use of the loan.

Interest accrual period(n) is the time span over which interest is calculated.

Current or current value(PV) is the initial amount of the contribution (debt).

Future or accrued value(FV) is the initial amount of the deposit (debt) with accrued interest at the end of the term.

Urgent payment (R)- the amount of money intended to pay off part of the principal debt and current interest on it for a certain period of time.

When granting a loan, different ways its repayment. The main ones are:

· Repayment in a lump sum, i.e. at the end of the loan term, the loan amount and interest are paid;

· Repayment by installments in time, i.e. part of the debt and interest on it are periodically paid.

Task number 2.1. Granting a loan using a simple interest rate provides for periodic accrual of interest on the original loan amount.

The amount of accrued interest (I) is determined as:

where FV is the accrued or future value of money after a certain period;

PV is the initial (current or modern) value of money, in this case, the amount of the loan to be issued.

The accrued cost after a certain period is found by the formulas:

where n is the interest accrual period,

i - interest rate.

Task number 2.2. The provision of a loan using a complex interest rate provides for the periodic accrual of interest on a variable amount, due to the addition of previously accrued interest to it.

If interest is calculated m times a year, then the future value formula has next view:

where m is the number of interest accruals over one year.

In conditions of inflation, the calculations become noticeably more complicated, since it is necessary to adjust the income received and the yield for inflation. The following indicators are usually used to characterize inflation:

inflation rate (f)- shows how much prices have risen over a certain period of time, usually a year, measured as a percentage;

inflation index (g)- shows how many times prices have risen over a certain period of time. At the same time, the relationship between the level and the inflation index is determined as follows:

future value under inflation (FVinf)- the initial amount of the deposit, taking into account the accrued interest;

purchasing power of money (FVр)- reflects the future value, cleared of the influence of inflation;

The relationship between the future value adjusted for inflation (FVinf) and the future value cleared from inflation (FVр) is described by the formula:

interest rate (iinf)- the rate announced by the bank, takes into account inflation. At high levels of inflation, the bank needs to constantly adjust this rate in order to ensure the required level of profitability of the financial transaction;

real interest rate (r)- the rate, cleared of inflation, characterizes the real profitability of a financial transaction.

Task number 2.3. The inflationary future value (FVinf) using a simple interest rate is defined as:

The real simple interest rate is determined based on the equality of the following future values:

Task number 2.4. The future value in terms of inflation (FVinf) using a compound interest rate is found using the formulas:

From the formulas, by analogy with simple interest, it is necessary to express the purchasing power of money and the complex real interest rate.

The loan agreement of any bank must contain not only the interest rate (annual) for using the loan, but also the effective interest rate.

According to the instruction of the Central Bank of the Russian Federation (instruction dated June 1, 2007 No. 78-T), from July 1, 2007, all commercial banks are obliged to indicate in loan agreements the effective interest rate calculated using a single formula. Its calculation includes the following payments:

· On repayment of the principal debt;

· On payment of interest;

· Fees (commissions) for consideration of a loan application;

· Commissions for the issuance and maintenance of a loan;

· Commissions for opening, maintaining loan and (or) current accounts;

Commission for settlement and operational service;

· Payments of the borrower in favor of third parties.

The effective interest rate reflects all the client's costs associated with processing and repaying the loan and includes additional income jar. During the term of the loan, funds received from borrowers in the form of monthly payments can be issued in the form of other loans, which brings additional income to the bank. This income is included in the calculation of the “effective rate”. As for the borrower, the loan agreement still specifies the "interest rate" (annual) for the use of the loan, the term of payments and the amount of the monthly payment. The effective rate has nothing to do with the borrower. The purpose of this innovation is to control the presence of hidden fees of banks, which are illegal. Now, with the appearance of the line "Effective interest rate" in each loan agreement, the Central Bank of the Russian Federation is tightening its control over the work of commercial banks that provide lending services. At the same time, the parameters of the loan (monthly payment, appreciation, an initial fee) the effective rate is not affected in any way. You can verify this by looking at the payment schedule and calculations given in the calculation.

Effective rate It is usually used to compare loan programs offered by different lenders (banks), and helps the borrower better navigate a large stream of loan offers, choosing the most profitable option. In most Western countries, it is predetermined by law that regardless of what interest rate the credit institution announces in advertising and other materials, the bank must display the effective interest rate in the loan agreement so that the client knows how much the loan actually costs him, taking into account all costs ... In Russia, the initiative to legislate the calculation of the effective interest rate is being worked out at the level of the Central Bank of the Russian Federation and other departments, and in the near future, most likely, will be implemented. It should be noted that effective rates may differ depending on how they are calculated and what additional costs are included in the calculation.

Banks (lending institutions) often charge commissions for opening accounts, granting loans, accounting for bills of exchange and many other financial transactions, which increase the profitability of the transaction. Then the resulting sum will be equal to

where DP = PV h - the sum of the withheld commissions,

h - the relative value of the commission in the loan amount.

The effective interest rate is used to determine the change in the profitability of a financial transaction due to deduction of commissions. This rate can be either simple or complex, both interest and discount.

Task number 2.5.Case number 1. Let's say the rate of simple interest and the deduction of commissions for additional services rendered were announced on the loan. It is necessary to determine how the profitability of a financial transaction will change using the effective simple interest rate. The effective rate is determined by equating the future values ​​excluding and taking into account commissions:

Task number 2.6. Case number 2. Let's say the rate of compound interest and the deduction of commissions for additional services rendered were announced on the loan. It is necessary to determine how the profitability of a financial transaction will change using the effective compound interest rate. The effective rate is determined by equating the future values ​​excluding and taking into account commissions:

A more complex way of repaying a loan and much more often used in practice are periodic payments to repay the loan.

A payment stream, all members of which positive values, and the time intervals between payments are the same, is called a financial rent (annuity).

Financial rent has the following parameters:

· annuity member- the amount of each individual payment;

· rent period- time interval between two adjacent payments;

· term of annuity- the time from the beginning of the financial annuity to the end of its last period;

· rental rate- the rate used when increasing or discounting payments that form an annuity;

· The number of payments per year;

· The number of interest accruals per year;

· Moments of payment within the annuity period.

The classification of annuities can be made according to various criteria:

Depending on the length of the annuity period:

· Annual - if payments are made once a year;

· R - urgent - if payments are made r-times a year.

By the number of interest accruals:

· Annuity with one accrual per year;

· Rent accrued m times;

· Rent with interest accrued continuously.

By size of members:

· Constant (with equal members);

· Variable annuities.

By the likelihood of paying members:

Loyal - that is, subject to unconditional payment

· Conditional.

By the number of members:

· Annuities with a finite number of members or limited;

· Endless or eternal.

Depending on the presence of a shift in the moment of the beginning of the rent in relation to the beginning of the action or some other moment of the rent:

Immediate

· Postponed or delayed.

By the method of making payments:

· Postnumerando - if payments are made at the end of the period;

· Prenumerando - if payments are made at the beginning of the period;

· Perpetual annuity.

Future value financial rent postnumerando

· Annual annuity:

P-urgent annuity:

where R is the amount of annual payments;

p is the number of payments within one year;

R / p - the amount of one-time payments.

Modern value financial rent postnumerando determined by the formulas:

· Annual annuity:

P-urgent annuity:

With a pre-numerando financial rent, the number of payments is one more than with a post-numerando financial rent. Future value financial rent prenumerando is determined by the following formulas:

· Annual annuity:

)

P-urgent annuity:

Modern value financial rent prenumerando determined by the formulas:

· Annual annuity:

P-urgent annuity:

Task number 2.7. Since the amount of the loan to be issued is the present value, on which interest will be calculated periodically (m times a year), and payments will be made on account of which p times a year, we will use the formulas of the current the cost of p-term financial annuities post-numerando and pre-numerando. Then the amount of annual contributions will be:

For postnumerando rent:

For prenumerando rent:

The amount of one-time contributions is determined by dividing the annual contributions (R) by the number of contributions in one year (p).

Redemption fund - it is a method of repayment of a loan, which consists in the formation of a debt repayment fund by the borrower. It is used when returning a debt in one amount in the form of a one-time payment. The maturity fund is formed from successive contributions on which interest is calculated. The creation of a redemption fund may be provided for by a loan agreement as a security for its repayment.

If, under the terms of the loan, the debtor undertakes to return the amount of the debt at the end of the term in the form of a one-time payment, then he must take measures to ensure this. When the amount of debt is significant, the usual measure is to create a settlement fund. The need to form such a fund is sometimes stipulated in the loan agreement as a guarantee of its repayment. Of course, the creation of a fund does not have to be linked to debt repayment. In practice, it becomes necessary to accumulate funds for other reasons, for example, to accumulate depreciation charges for the purchase of worn-out equipment, etc.

The redemption fund is created from successive contributions of the debtor (for example, to a special bank account), on which interest is calculated. Thus, the debtor is able to consistently invest funds to pay off the debt. The amount of contributions to the fund, together with accrued interest, accumulated in the redemption fund by the end of the term, must be equal to its amount. Contributions can be both constant and variable over time.

Task number 2.8. The creation of a repayment fund assumes that by the time the loan matures, the amount of funds in the fund, deposited several times a year, subject to the accrual of interest on them at the rate b, will be sufficient to repay the loan with interest calculated at the interest rate i m times a year. Naturally, the creation of a fund is expedient if b ³ i.

By equating the loan amount, taking into account the accrued interest, to the amount of funds accumulated in the redemption fund, it is possible to determine the amount of required annual (R) and one-time payments (R / p).

The development of a debt repayment plan consists in drawing up a schedule for the debtor's periodic payments and determining the amount of these payments. These payments are commonly referred to as debt service costs or urgent payments (Rt). Debt service costs include both current interest payments (It) and funds intended to repay the principal (Ct).

The plan of repayment of the loan (debt) can be presented in tabular form (see table. 2).

table 2

Loan (debt) repayment plan

Task number 2.9. When drawing up a plan to pay off debt in equal amounts, it is assumed that the amount to pay off the debt (Сt) will remain constant throughout the entire period and is determined:

where D is the initial amount of the debt;

n - debt maturity;

p is the number of payments during the year.

where Dt is the remaining debt for the period t. At the moment of the first payment, Dt = D.

Urgent payment (Rt) for period t:

Rt = Ct + It

Dt + 1 = Dt - Ct

It is necessary to repeat the sequence of steps for the calculation Ct, It, Rt and Dt while Dt + 1 will not be zero.

Task number 2.10. When drawing up a plan to repay a debt with equal urgent payments, it is assumed that the constant component will be the value of the urgent payment (Rt) and is determined as follows:

When making payments at the end of the period:

When making payments at the beginning of the period:

The amount of interest accrued for the period t (It) is equal to:

If it is agreed that payments are made at the beginning of the period, and interest is calculated at the end of the period, then at the time of the first payment, interest has not yet been calculated, respectively, I1 = 0.

The amount for repayment of the principal debt (Сt) for the period t:

Ct = Rt - It

The balance of the principal debt (Dt + 1) for the period t + 1 is equal to:

Dt + 1 = Dt - Ct

By analogy with the previous plan, it is necessary to repeat the sequence of steps for the calculation Ct, It, Rt and Dt while Dt + 1 will not be zero.

Similar information.

The specificity of modern lending practice is that Russian banks do not have a unified regulatory and methodological base for the organization of the credit process. Previous bank instructions were focused on a pay-as-you-go credit system and a sectoral approach to lending and turned out to be unacceptable in market conditions. Therefore, each commercial bank develops its own approaches to the organization of the credit process, taking into account the generally accepted in foreign countries the starting point and the best domestic experience.

The lending process can be conditionally divided into several stages:

1) development of a strategy for credit operations;

2) acquaintance with a potential borrower;

3) assessment of the creditworthiness of the potential borrower and the risk associated with the issuance of a loan;

4) execution of credit documentation and provision of a loan;

5) credit monitoring (follow-up control in the process of lending).

Development of a strategy for credit operations. The organization of the credit process is based on a credit strategy and policy developed by the commercial bank itself. The credit strategy is developed within the general strategy of the bank and consists in the selection of such target markets, types of credit operations, groups of clients, sectors of the economy and regions of the country that would create a balance between the areas of activity already mastered by the bank and new ones that promise additional income, but are associated with additional risks, and on this basis would provide a competitive advantage over other banks. The development of a credit strategy is usually the responsibility of the board of directors. commercial bank... Control over the implementation of the developed credit strategy, as a rule, is entrusted to the credit committee of the bank.

The credit policy includes those specific goals that are guided by the credit committee when granting loans and exercising control over lending. This policy is based on the approved credit strategy, is developed, as a rule, for the next year and is drawn up in the form of a special document - "Guide (regulation) on the bank's credit policy". The development of a competent credit policy that ensures the reliability and profitability of credit operations is an essential element of bank management. It determines the acceptable level of risk that the bank can take on.

Acquaintance with a potential borrower. At this stage, the client's field of activity, the direction of sale of his products, the state of affairs in this business at present and in the future, the main suppliers, buyers, the legal status of the borrower, the purpose of the loan is studied, the client's needs are determined by the current credit policy of the bank, the type of loan is established , its form, term, sources of loan repayment and interest payments for it.

Assessment of the creditworthiness of the borrower and the risk associated with the issuance of a loan. Assessment of a borrower's creditworthiness involves an assessment of his personality, business reputation, credit history, solvency (i.e., the ability to repay a loan taken from current cash receipts or from the sale of assets). There is no single methodology for assessing the creditworthiness of a borrower; each bank develops its own approaches to this analysis. In the process, everyone uses it. available materials, both received from the client and available in the credit archive.

To consider the issue of issuing a loan, borrowers submit a standard package of documents to the bank.

Any economic, including credit, transaction requires certain documentation. Oral negotiations that the client conducts with the bank, at the initial, preliminary stage, one way or another end with the submission of his written request to the credit institution (justification of the need for a loan for certain purposes). The bank should also have “at hand” materials allowing it to determine the financial position of the client, his creditworthiness. Therefore, the bank must have, and the client must present the balance at the beginning of the year. Domestic and foreign banks practice requirements for obtaining a balance for the last 2-3 years, if necessary, request a balance for the next month's date. Together with the balance sheet, enterprises submit profit and loss statements to the bank.

The rationale for the need for a loan (also called a feasibility study) contains a client's request for a loan for specific purposes, in the required amount, at a certain percentage and for a specific period.

In general, the set of documents submitted by clients to the bank is regulated by the Regulation “On the Procedure for Providing (Placement) of Monetary Funds by Credit Institutions and Their Return (Repayment)” of the Central Bank of the Russian Federation No. 54-P dated 31.08.1998. According to this provision, all documentation is divided into three groups (Fig. 1).

rice. 1. The structure of the documentation submitted to the bank by borrowing enterprises for obtaining a loan

Along with a written application to the bank for a loan, in some countries there is a special documentary form - a general statement - the obligation of the borrower to fulfill the requirements arising from the terms of the credit transaction. Such a special form is absent in most developed countries (for example, there is no such form either in Germany or in France), it has been replaced by a loan agreement itself, which has a stencil obligatory form, including declaring the client's obligation to comply with the requirements and rules of the credit institution. Russian commercial banks also abandoned the practice of presenting this obligation. Expedited commitments are used alongside this commitment statement. An urgent obligation is presented in a certain form, it fixes the borrower's obligation to repay this loan, taken for specific purposes, in a fixed amount and at a specific time.

There can be several of these obligations: it all depends on how long the loan is provided - conditional or specific. In the previous Russian practice, banks used both term liabilities with a conditional and a specific loan maturity. The specific deadline fixed the date at which the loan must be repaid by the client. The notional maturity was the date when the maturity of the loan was renegotiated (in this case, this time commitment was replaced by another, new commitment). Many Russian banks have ceased to require urgent liabilities from clients, bearing in mind that the maturity of the loan is fixed in the loan agreement, which, from a legal point of view, if it is drawn up correctly, turns out to be a sufficient reason to write off funds from the borrower's accounts to repay the loan debt.

The credit agreement is the most important document that defines the rights and obligations of the participants in the credit transaction. It contains the economic and legal responsibility of the parties. There is no strictly defined form of credit agreement recommended to commercial banks by the Central Bank of the Russian Federation. In countries such as Germany, Austria, standard forms of a loan agreement with both legal entities and individuals are recommended. In France, such a standard form was developed exclusively for individual borrowers, believing that banking practices are so diverse that it is not possible to recommend a single model of a loan agreement.

And nevertheless, the loan agreement has a well-defined framework around which the entire scheme of the agreement is built. Of course, he records the full names of the participants, their legal addresses; subject of the contract, amount, term, repayment procedure, interest rate, amount of commission, security and guarantees. In general, the terms of lending are determined quite accurately. Particular importance is attached to credit clauses, which give the right to the bank in the event of a delay in payment, non-compliance with the contractual conditions, to exercise its right to return the loan and pay interest at the expense of the resources and property of both the client himself and his guarantors.

Special sections are devoted to the responsibilities of both the client and the bank.

In addition to the loan agreement, if necessary, a pledge agreement can also be concluded. In practice, it happens like this: if a pledge is present in a credit transaction, then a pledge agreement is necessarily concluded, and often, for the strength of the signature of the client and the bank, it is additionally certified by a notary. The “Regulations on the procedure for the provision (placement) of funds by credit institutions and their return (repayment)” obliges banks to also have a number of internal documents, including those reflecting:

the bank's policy on the placement (granting) of loans;

accounting policy and approaches to its implementation;

the procedure for making decisions on lending;

distribution of powers between departments and officials;

the procedure for lending to customers of a credit institution.

A credit transaction involves the emergence of the borrower's obligation to repay the corresponding debt. Concrete practice shows that the presence of an obligation (in various forms) does not mean a guarantee and a timely return. The emergence of inflationary processes in the economy can cause the depreciation of the amount of the loan provided, and the deterioration of the financial condition of the borrower - violation of the terms of loan repayment. Therefore, the international experience of banks has developed a mechanism for organizing loan repayment, including: a) the procedure for repayment of a specific loan at the expense of proceeds (income); b) the legal consolidation of its repayment procedure in the loan agreement, c) the use of various forms of ensuring the completeness and timeliness of the return movement of the loaned value.

The form of ensuring the repayment of a loan should be understood as a specific source of repayment of an existing debt, legal registration of the creditor's right to use it, organization of bank control over the sufficiency and acceptability of this source.

If the mechanism for repaying a loan at the expense of proceeds (income) and its consolidation in loan agreements are the main prerequisites for repaying a loan, then the definition of forms of securing repayment is a guarantee of this return. Such a guarantee is needed when high degree the risk of late payment.

Thus, in banking practice, sources of loan repayment are divided into primary and secondary. The primary source is the proceeds from the sale of products, the provision of services or income received by an individual.

Foreign bankers consider it their "golden" rule to focus primarily on the primary source when considering the possibility of concluding a credit transaction. Therefore, in the process of studying a loan application, the main attention is paid to the analysis of the client's cash flows, the prospects for the development of the industry and the business of this client, the state of the client's relations with suppliers and buyers. If the bank has doubts about the prospects for the receipt of proceeds (income) to the borrower, credit transaction will not take place .

The real guarantee of the loan repayment is the proceeds (income) only from financially stable enterprises. These include: enterprises with a high level of profitability and a high level of equity capital. Such enterprises have not only a systematic inflow of cash, but also an increase in cash in terms of generating profits, as well as replenishing equity capital.

For financially stable enterprises that are first-class clients of the bank, the legal fixation in the loan agreement of repayment of loans from the proceeds seems to be quite sufficient. In this case, a purely trusting relationship develops between the bank and the borrower, implying that the borrower fulfills its obligations to repay loans without providing any additional guarantees.

More often in practice, a situation arises when there is a certain risk of timely receipt of proceeds. Risk factors can be associated both with the production process or the sale of values, and the state of settlements with buyers, changes in market conditions, seasonal fluctuations, etc.

In all these cases, it becomes necessary to have additional guarantees of loan repayment, which requires the search for secondary sources. These include: pledge of property and rights, assignment of claims and rights, guarantees and sureties, insurance. These forms of securing the repayment of the loan are drawn up by special documents that have legal force and assign a certain procedure for repaying the loan to the lender if the borrower does not have funds when the obligation is due. Using secondary sources of loan repayment is a laborious and time-consuming process. The effectiveness of the existing forms of securing the loan repayment depends on the effectiveness of the legal mechanism, the legal and economic literacy of the employees concerned, and the observance of business ethics by the guarantors of payment obligations. The creation of a system of guarantees for the lender (bank) of the timely repayment of the loan acquires particular relevance in Russia due to the instability of the financial condition of many borrowers, insufficient experience of working in market conditions of businessmen, bankers, and lawyers.

Literature:

1. Development strategy financial market Of the Russian Federation for 2006-2008 [Electronic resource]: approved by the order of the Government of the Russian Federation of June 1, 2006 No. 793-r // http://www.akdi.ru/econom/program/71.htm

2. Finance and credit [text]: textbook / under. ed. prof. M.V. Romanovsky, prof. G.N. Beloglazova. - 2nd ed., Rev. and additional .. - M .: Higher education, 2008. - 609 p.

3. Money, credit, banks: a tutorial / I.V. Merkulova, A. Yu. Lukyanov. - M .: KNORUS, 2010, S. 352