Clarifications in the latest news about how the bank's license was taken away from the trust. Bank "Trust" filed a bankruptcy lawsuit against one of the former owners Does the bank trust work
Trust Bank, which is being rehabilitated by FC Otkritie, has filed an application with the Moscow Arbitration Court to declare one of its former owners, Nikolai Fetisov, bankrupt, RAPSI reports, citing a court ruling.
The bank's application was left by the court without movement until December 7 due to its improper execution.
The press service of Otkritie Holding reported in April that Trust filed a lawsuit with the High Court of London against three ex-owners - Ilya Yurov, Nikolai Fetisov and Sergey Belyaev for compensation for the damage caused to the bank in the amount of $ 830 million.
“This was the result of a court decision to freeze the assets of former shareholders on the grounds that, during the period when they were the owners of the credit institution, related companies received loans in the amount of about $ 1 billion, providing security in the amount of about $ 150 million,” - explained in the press service of the "Opening Holding".
“Before the reorganization began, these loans were serviced, while companies received new financing to repay previously received loans. When on-lending stopped, the companies stopped paying. Before the Trust filed the lawsuit, it applied to the London Court in January to obtain a warrant to freeze the assets of ex-shareholders, as well as to suspend a deal that "sold" assets worth $100 million for free. added to the press release.
At the end of December 2014, the Central Bank decided to sanitize Trust. FC Otkritie Bank then received 127 billion rubles for this. At the end of 2015, the sanator applied to the Deposit Insurance Agency for additional funding in the amount of about 50 billion rubles, recalls RAPSI.
Aven called the story of the reorganization of the bank "Trust" difficult to manage
The initial choice of a sanator for Trust Bank was unfair, and Alfa-Bank insisted on correcting this, Pyotr Aven, chairman of the board of directors of Alfa-Bank banking group, said at the Atlanta forum.
National Bank "Trust"
PJSC Bank Trust is a large credit institution with a wide branch network. Currently undergoing a financial recovery procedure with the participation of the Central Bank. Since March 15, 2018, the functions of the temporary administration for managing the bank have been fully entrusted to the UK FKBS. Since May 14, 2018, more than 99.9% of the bank's shares have been owned by the Central Bank of the Russian Federation. At the moment, a platform for the consolidation of non-core assets is being formed on the basis of the bank (including as part of the merger of Rost Bank JSC). The bank plans to work with distressed and non-core assets, their subsequent sale in order to return part of the funds.
According to Banki.ru, as of March 1, 2020, the bank's net assets amounted to 1,431.54 billion rubles (10th place in Russia), capital (calculated in accordance with the requirements of the Central Bank of the Russian Federation) - -1,307.31 billion, credit portfolio - 854.81 billion, liabilities to the population - 0.42 billion.
The crisis of the banking system, which is a quite expected consequence of the economic crisis in Russia, came much earlier than it was predicted by financial analysts. The 27th largest bank in the country, the national investment bank Trust, failed to cope with the anti-crisis measures introduced by the Central Bank. What will happen to this organization in the future and what can its contributors expect? To the question “Is it worth it to immediately withdraw money from there?” you need to answer in advance, because at least one ordinary resident of our country, who has contacted a seemingly reliable bank like Trust, hardly wants a repetition of history.
Problems and debts of Trust Bank
First of all, it is worth immediately making a reservation that the procedure for reorganizing a bank is not a process of closing it. The National Bank "Trust" could not stand the increase of the key rate by the regulator: as a result of recent events in the country's economy, the Central Bank raised this figure by 6.5%, as a result of which it reached 17% on December 16.
However, this state of affairs is rather a consequence of the problems that NB Trust already had, rather than their cause:
- According to DIA estimates, the assets of NB Trust are actually 60 billion less than those declared in the financial statements of the organization. Analysts of RosBusinessConsulting and specialists of the Central Bank speak about this;
- Being carried away by consumer lending, this bank forgot that during the economic crisis, the risks of non-repayment of funds issued to consumers increase sharply - this provoked a concentration of credit risks and a lack of equity when the bank itself had to give money;
- NB "Trust" had a large debt in foreign currency, which, with the growth of the dollar, increased the amount of credit funds previously received by the bank.
The situation of shortage of funds that developed inside Trust Bank took place for more than one year, but earlier the credit institution could afford it, as it was supported by shareholders. However, the outflow of deposits from the population, which occurred in all Russian banks in the past two months, opened this hole and led to the need to either revoke the bank's license or carry out a reorganization procedure.
Sanitation of the bank "Trust"
Since the procedure for reorganizing a bank is not a pre-bankruptcy indicator of its condition, but, on the contrary, an attempt to return the enterprise to normal operation, the National Bank "Trust" will work in a standard mode for the period of the reorganization measures. All deposits that were previously made by consumers will be returned on time and at the rate on which they were made. It should be said that due to the previous revocation of licenses from banks, as well as thanks, many depositors decided to withdraw their funds. This behavior caused a panic, as a result of which the position of the bank, and with it its customers, deteriorated significantly. An attempt not only to withdraw their deposits, but also to carry out speculative operations, first of all hits the bank's consumers themselves. At the "Trust" bank today you can see huge queues of people who want to take their money. In order to have a better chance of getting their hard-earned money back as soon as possible, depositors have been queuing since 6 o'clock in the morning.
Since Trust Bank has a decision of the Central Bank of Russia for reorganization and a competition is being held to determine the investor, depositors should not be afraid for their funds in this bank. If panic moods continue to prevail among the clients of this credit institution, then sanitizing measures will no longer help. It is worth remembering that, like any other bank, Trust Bank deposits are insured up to 700 thousand rubles. This means that its owner will definitely receive his money, even if the license of the National Bank Bank "Trust" is revoked.
Thus, if you are a contributor to NB Trust, then you are advised to keep calm first of all. If the amount of savings invested in the bank is more than 700,000 rubles, then you can terminate the relationship with the bank and divide the deposit into several parts up to the “threshold” of the insured deposit, but at the moment this is not recommended so as not to sow panic and not aggravate your own situation.
Bank Trust: latest news, video:
Banks are increasingly faced with situations where people, for one reason or another, cannot repay a loan on time. And Trust Bank is no exception. First, let's remember what cards the bank provides:
- Debit - a card on which you can store your own savings. Those who have such a card pay a certain amount monthly for servicing the card.
- For payments (often social or pension), the same functions have been created as for a debit card, only the service is based on benefits.
- A credit card is a card that has a certain credit limit, this loan is short-term. If personal funds are stored on the card, then no interest is charged for their use.
What is a bank loan anyway?
This is an agreement between the two parties - between the client and the bank, which is supported by voluntary legal relations. When a contract is concluded, both parties are obliged to comply with all the rules and regulations prescribed in it. The main rule is that the bank agrees to provide the client with a loan, and he, in turn, undertakes to return the loan funds to the bank on time with interest paid for the use of bank money.
What happens after the bank and the client have entered into this same agreement
Everything seems to be clear and understandable, no additional questions arise. But life is unpredictable. In the case when force majeure occurs, and the borrower can no longer fully return the loan money, the question arises: how can you not pay the loan to Trust Bank? And if so, what will it be? It is difficult to find a definite answer. Let's figure it out in order.
How is the situation at Trust Bank today?
At the moment, the bank provides for use only debit cards, and in Ukraine - all three types. The repayment period of the credit rate varies from 30 to 55 days, depending on the conditions of the card you are using. If you did not have time to pay during this period, then the return of bank money occurs partially together with a percentage for their use.
If the client violates the loan repayment period, then he is charged a fine. When he pays it, only the interest is withdrawn, the balance of the loan remains the same. In case of prolonged non-payment of credit money, the bank blocks the available use of bank money. In the event that this continues for some time, the bank takes the case to court or applies for services to a collection company.
At the same time, everyone knows that four years ago there were problems in the Trust, due to which the bank reduced the number of banking products provided. But after some time, the situation in the bank has recovered, and customers can continue to repay their loans. If, after urgent calls from the teller, the client does not return the bank money, then the Trust turns to collectors.
Collectors act as follows: they declare that after the “fall” of the bank they bought your debt from it, so now they need to pay it back. Be careful, it's illegal! The client is obliged to return the debt to the one from whom he took it. Don't fall for clever tricks. In addition, it would not hurt to warn your relatives and loved ones about competent behavior in such situations.
What really happens
The loan, of course, you need to pay, if you have the opportunity. But in reality, the bank sues the client in order to oblige to pay only for a large loan. Since most loans are small and medium-sized amounts, in fact such situations are very rare.
If the return of bank money is not received for some reason, then get ready for the fact that there will be strong psychological pressure not only on you, but also on your relatives. If for the sake of paying off a loan you give the last penny and expect the bank to meet halfway, then this is not so. Although the situation may be different. What is meant?
The court is far from always completely on the side of the bank, so let's consider the most common cases of how cases unfold in the courts:
- Arrangement with the bank within the walls of the court.
- Help of a lawyer.
- Self struggle.
Case 1. It is possible to negotiate with the bank. Very often things unfold like this.
The client took a bank loan for 10,000 rubles, for some reason did not pay it for a long time, during which time interest and fines in the amount of 50,000 rubles ran up. Then the bank sues. The client and the representative of the bank are invited to the court. The case does not last one day. The bank also does not want to spend a lot of time on just one client. Therefore, the agreement may look like this: the bank sets the condition that if you pay 10,000 rubles. within three months in equal installments, then the rest of the loan amount will be forgiven you.
Case 2: Seek help from a good lawyer. It often happens that the bank overestimates the interest rate and charges much more than what was indicated in the contract, especially for credit limits. You can appeal in court by the fact that the borrower has incompetent parents, minor children, persons in care.
No one will be involved in the recalculation of amounts in court, therefore the only salvation for the illegal accrual of fines is the independent calculation by the client of all fines and interest. Often and densely it turns out that the bank overstates the amount. However, the client should not forget that the services of a lawyer in such cases are not cheap, so it makes sense to contact them only if the amount of debt is large.
Situation 3. Fight on your own. The client can request from the bank a statement of movement on the account. And if the amount of fines is higher than half of the loan, then these actions are illegal. In addition, if the bank requires money much more than the losses that it suffered due to the late payment of the loan, then these figures can be appealed and reduced. There are times when the court is willing to halve the amount owed if the client's income is too low to pay the full amount.
Thus, if you already decide to apply to the bank for credit money, then be prepared for the fact that the overpayment will be rather big. And if you are not sure about the stability of earnings, then it is better not to mess with banks. In any case, everything must be done according to the law.
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News in the media that another bank's license has been revoked has become regular. Losing licenses not only small financial organizations, but also large banking structures.
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Such information touched upon the Bank Trust. The history of the national bank began in 1995. Previously it was called Menatep St. Petersburg. The year of default 1998 became a crisis for Menatep as well. The Moscow branch was declared bankrupt.
As a result, this led to the fact that the assets of Menatep St. Petersburg were merged with the receivers. The result of the merger in 2005 was the National Bank Trust. The problems with the bank began in 2014. In December, he announced that rates were going up on all deposits. Not many people took this as a signal of the beginning of difficulties.
But on December 17, 2014, the banking organization announced that those who want to withdraw currency need to order it in advance. On December 22, news appears that the bank's rating has been downgraded due to lack of core capital. Today, many citizens, especially Trust depositors, are worried about the situation with the bank.
News about changes
According to the latest news, the Trust will start working as a fund of non-core assets already in 2020, in April. The volume of these assets has not yet been established. It is known that they will be formed according to the branch principle. The fund must operate with direct investment for at least three years. In this case, the Central Bank will be its owner.
On May 7, the media reported that the Moscow Arbitration Court had declared one of the co-owners of the Trust Nikolay Fetisov bankrupt.
Planned Actions
The Central Bank decided to make the Trust a fund for draining non-core debts, it will take problem assets from banks according to the list. As soon as the bank of bad debts is created on the basis of the Trust bank, it will not be able to continue its work.
The credit institution will become a direct investment fund. It will have to take all problem assets from a number of banks. First of all, it will be Promsvyazbank, then Avtovazbank and Rost Bank. This will include assets after the merger of Otkritie and Binbank.
After the asset transfer procedure, the financial institution will be credited by the Central Bank. Then, according to the plan, large-scale work on the return of debts should begin. In total, the Central Bank plans to achieve a return of more than 60% of the invested funds.
All cleared assets will be sent to the joint organization of FC Otkritie and Binbank. The Trust itself will be deprived of a license, that is, it will no longer be able to continue banking activities. At the end of the year it will become a direct investment fund.
Already in the second quarter of 2020, the bank is scheduled to start working with bad debts. But the deputy chairman of the Central Bank did not exactly answer the media about how it is planned to return 60% of the funds.
New schemes and difficulties
The approved action plan of the Central Bank in relation to Trust Bank is aimed at preventing the bankruptcy procedure of a financial organization. At the same time, measures are being taken to improve Rost Bank JSC. New sanation schemes involve the participation of the Central Bank as an investor.
As of July 1, 2017, the Trust had obligations under two agreements. The money was provided by the Deposit Insurance Agency. One loan is 28 billion rubles, the second - 100 billion. All funds were provided as part of the rehabilitation.
The involvement of the Banking Sector Consolidation Fund for the financial recovery of the two above-mentioned banks will speed up the process of merging Binbank and FC Otkritie, which was announced back in February 2020. This merging process can take nine to twelve months. At the same time, Binbank will lose its brand.
Bank Trust will close or not
Investors are primarily interested in the latest news, how the license was taken away from Trust Bank. National Bank Trust has always been considered a large financial institution with a large number of branches.
The Trust announced its problems to the Central Bank in 2014. He asked for financial assistance. The Central Bank, in turn, began to take measures to financially strengthen the organization. It was during this period that Otkritie Financial Corporation was chosen as an investor and controlling body.
Since 2015, the Trust and Otkrytie began to exist together. The Trust represented one of the most powerful credit organizations in the banking business. He focuses on working with small and medium-sized businesses, private clients. In terms of its savings, it ranks 26th among Russian banks.
At the moment, the bank's license has not been revoked, it operates as before. But there are accusations against the Trust that it intentionally withdraws monetary assets. This may be due to the fact that the bank was investing in projects that actually did not bring any profit.
What investors should expect
The crisis of the banking system hits depositors the hardest. The Central Bank reassures citizens who have opened deposits in Trust Bank. He says that the reorganization of a credit institution does not mean its closure.
But no one denies the problems of the bank:
- Analysts and specialists from the Central Bank say that the Trust's financial assets are 60 billion less than it claims in its reports.
- The bank made a big bet on consumer loans. But at the same time, all the risks were not calculated. During the economic crisis, the percentage of non-return on loan agreements increased significantly.
- The trust had a large debt in foreign currency, which created a new problem with a sharp increase in the exchange rate.
The difficult situation in the bank lasted for several years. But at first they could keep afloat at the expense of the contributions of the population. But in the past few years, people have become less likely to leave money in banks. And this applies not only to the Trust, but also to all Russian credit institutions.
Bank reorganization does not apply to pre-bankruptcy states. It will operate as normal during the event period. All deposits will retain their interest, in accordance with the concluded agreement. The return of deposits must also be carried out within the prescribed period.
Panic among depositors, who are trying to withdraw their deposits ahead of time, worsens the situation of the bank.
Bank customers should remember that all deposits up to 700 thousand are insured. This means that even if the reorganization does not help, and the bank will be forced to revoke its license, all funds will be returned to depositors.
Background and results
Since 1995, Trust Bank, with the support of Gazprom, has been a leader in the banking business. He actively increased his capital. But in 2010, the Trust begins to throw off non-core assets, branches in the regions are closed, and the staff is reduced. The reputation of the organization begins to go down rapidly, leading managers go to other banks.
The reasons for the problems are as follows:
- increase in the key rate of the Central Bank;
- active outflow of household deposits;
- false reports about the financial condition of the company.
In 2014, the Trust announced that it was increasing interest on deposits. This was a tempting offer, as it is rare for banks to take such action. But soon there was information that the bank was not able to pay money to depositors.
The question immediately arose whether to deprive the trust of a license or try to reanimate it. Since the Trust is one of the largest banks, its closure will deal a blow to the entire banking structure. Therefore, it was decided to revive it.
