Member of the board of Otkritie Holding Dmitry Popkov and the press service of Trust Bank believe that Otkritie Bank, as a sanatorium of Trust, has made significant progress in judicial work aimed at restoring the assets withdrawn from the bank. In favor of the bank, decisions were made both in Russian courts and in the High Court of London, which ruled to freeze the assets of former Trust shareholders for millions of dollars. At the same time, the judge of the London court called "Trust" "financial pyramid" and noted that the bank's former shareholders "benefited from what appeared to be dishonest management of an insolvent bank", all of which was done "at the expense of the bank's retail clients and ultimately at the expense of Russian taxpayers". We intend to bring the lawsuits to completion in order to recover the maximum amount from the former shareholders, this will speed up the process of restoring the "Trust"
The fact that Trust did not need reorganization and Otkritie insisted on it in order to receive funds from the Central Bank
“The information is not true. In December 2014, Trust stopped fulfilling its obligations to clients and allowed a margin call on repo with the Central Bank. Thus, for the "Trust" there were two options for the further development of events: either revocation of the license and bankruptcy, or reorganization. The "Trust" kept the deposits of individuals for more than 140 billion rubles. Deposits for 115 billion rubles. did not exceed the threshold value of 1.4 million rubles. - in the event of the fall of the "Trust", these funds would forever leave the deposit insurance fund. A comparable amount was allocated for the reorganization, and according to the results of the project, this money, as well as interest for their use, will be returned to the state. The most expedient decision from an economic point of view was made. There is another reason to consider the choice in favor of reorganization the right one. December 2014 was one of the most difficult periods for the Russian banking sector. If Trust, one of the largest banks in the country, fell, especially before the long New Year holidays, then more than 1 million of its clients could be without access to their money. This could lead to a chain reaction throughout the banking system.” (Dmitry Popkov)
On the moratorium on the execution of outgoing and incoming payments, introduced by the provisional administration
“This information is not true. To prevent the withdrawal of funds to companies controlled by the former shareholders of the "Trust", payments to them actually underwent additional verification, and the issuance of new loans was stopped - thereby stopping the ring scheme used for on-lending and masking the situation with the loan portfolio. Incoming payments were accepted as usual.” (Press service of the bank "Trust")
About reward of $50 million to the owners of "Trust" for the "assignment" of the bank
“This information is not true. Otkritie has never been interested in buying Trust. After a meeting with Yurov, held in the fall of 2014, it was clear that Trust was experiencing significant problems and was actually in a pre-bankruptcy state. Moreover, Yurov, Belyaev and [then shareholder and president of Trust Nikolai] Fetisov tried to sell Trust for $1, but were unable to do so, as the bank had a significant negative value. Why did Otkritie negotiate the purchase of an asset for $50 million, the real value of which was zero and which no one needed? (Dmitry Popkov)
That the accusation in the criminal case of former employees of the bank Dikusar and Romakov is connected with the issuance of loans that were actually repaid
“This information is not true. Loans to Erinskay Investments Limited and Baymore Investments Limited have not been repaid despite court decisions in favor of the bank. At the same time, there is practically no chance for them to return the funds - the companies did not conduct real activities, and their assets are equal to zero. Also, securities worth more than $140 million were not returned, which were withdrawn through foreign depositories (Austrian bank Winter AG and Bermuda-based Edenbury Trading Limited) on the basis of documents signed Dikusar. We continue to try to recover through the courts the debt from these companies, which has grown significantly due to interest and penalties.” (Press service of the bank "Trust")
The fact that overdue debt on retail loans increased after the "Trust" began to reduce the department for the collection of overdue debts
“This information is not true. A significant part of the bad debt in the Trust's retail loan portfolio was disguised by the former heads of the Trust through the use of a special scheme. This scheme assumed a “quiet restructuring” of the problem debt of individuals - the bank automatically restructured bad loans and arranged credit holidays for 270 days. The existence of this scheme was officially confirmed Yurov. Meanwhile, the use of this scheme only temporarily hid bad debts, and as soon as it [was] terminated, the Trust faced an avalanche of arrears, a significant part of which is regarded as bad debts. (Dmitry Popkov)
On the control of Otkritie over offshore companies that are debtors of Trust and that they specifically do not pay loans in order to show overdue debt on them
“This information is not true. Trust has two subsidiaries (in Russia and Switzerland) and two granddaughters in Cyprus. The debtor of "Trust" was 31 offshore borrowers (groups of companies or individual companies) owned by Yurov, Belyaev and Fetisov. By December 22, 2014, Trust issued to these companies (in various ways - loans, securities, receivables) about 90 billion rubles.
These offshore companies are defaulting on their loans because either they don't have the funds or the funds are hidden by the persons managing these companies. Most of these companies did not conduct real activities, and the value of their assets, according to various estimates, ranges from 10 billion to 20 billion rubles, which, apparently, is the reason for their default on loans. Some companies owned by former shareholders, such as TIB Investments and TIB Equities, sued Trust to avoid paying their debts, but lost the courts. In total, the former shareholders of Trust had about 300 companies, mostly offshore. The Trust did not and does not control these companies. Documents confirming this have been submitted by the bank to the High Court in London." (Press service of the bank "Trust")
On collaboration with Ben Worsley
"Bank" Trust "officially cooperates with Ben Worsley on a commercial basis. Collaboration with Ben Worsley was necessary in order to understand the complex scheme that was developed by the former shareholders for the removal of assets, and to prevent further divestment of assets, as well as to improve the efficiency of the work to restore the assets withdrawn by the former shareholders of the Trust through the network of offshore owned by them. . (Dmitry Popkov)
31.08.2015 09:00
Personnel: HSBC, Trust, RenCap, Otkritie, Sovcombank, TCS
The Russian bank of the HSBC group and Trust have changed their chairmen of the board, FC Otkritie has updated the debt capital markets team, and Sovcombank is forming it, Renaissance Capital has created a new department, and TCS Group has found a head in Ingosstrakh to Tinkoff Insurance.
Malachi McAllister named Chairman of the Board HSBC in Russia. In this position, he will succeed Mark Stadler, who will travel to Dubai to take over as Regional Head of HSBC's Commercial Banking for the Middle East and North Africa. Personnel changes will take place on October 1. McAllister began his career at HSBC in 1990, his most recent position being Managing Director and Head of Capital Markets Finance in France.
Elena Budnik will become the chairman of the board Bank "Trust". Since 2012, she has been working in the Otkritie financial holding, acting as a Trust sanatorium, and served as Deputy Chairman of the Board of Otkritie Bank, Senior Vice President, and then Deputy Chairman of the Board of Nomos-Bank (now FC Otkritie). In June, Budnik was elected to the board of directors of Trust, and at the same time Veronika Dolenko headed its board. Now Dolenko will take the post of financial director of Otkritie Holding.
Department of debt capital markets of the bank "FC Opening" recruited new employees. Thus, Denis Nikitin and Denis Ruchkin have been appointed directors for work with issuers. Nikitin headed the capital markets department in the investment department of Promsvyazbank for six years, and previously worked in the directorate of debt products of the investment bank Trust. Ruchkin headed the debt capital markets department at Zenit Bank, before that he held senior positions in the investment block of the Bank of Moscow.
Irina Cherevko will head the issue organization department and will be responsible for structuring and documentary support of transactions. She moved to FC Otkritie from the position of IB Vice President at Sberbank CIB, where she worked for ten years. Maria Kvetnaya will work in the department of the issue organization as the head of the direction. At various times, she led the divisions for organizing the issue of debt instruments at Ursa Capital, Petrocommerce and VTB North-West banks.
Vera Panova will be responsible for the preparation of issue documentation as the head of the direction. She moved to FC Otkritie from Zenit, where she began her career in 1997. Her Zenit colleague Kirill Sychev, who headed the analytical department in the investment department of this bank, will take a similar position in a new place. Evgeny Cherdakov, who was appointed chief analyst of the issuer analysis department, also moved from Zenit.
As already Finparty, Andrey Pashkevich has been appointed the new head of the debt capital markets department of FC Otkritie. His predecessor Mikhail Avtukhov moved to Sovcombank, where, in the rank of deputy chairman of the board, he headed the corporate investment block. From September, he will be joined by several members of his team from FC Otkritie - Dmitry Barkov and Rostislav Kulak, ex-director of issuer relations, Robert Smakaev, head of the issuing organization, Anna Turik and Yulia Sukhinina.
"Renaissance Capital" created the Derivatives, REPO and Financing Department. His functions also included treasury operations. Roman Sarychev has been appointed head of the new division. He will oversee liability management and financing issues, working in conjunction with Anna Vyshlova, Elena Grishina and Ruslan Babaev. Sarychev joined Renaissance Capital in 2005 and has since led equity derivatives.
The Trust Bank, being rehabilitated by Otkritie, was headed by Veronika Dolenko from the Deposit Insurance Agency (DIA). Now the leadership of this department has turned out to be suspected of lobbying the interests of Otkritie when allocating 127 billion rubles. for the rehabilitation of the Trust. This was reported to The Moscow Post correspondent by independent experts.
The new head of the "Trust"Somehow I can’t believe that the head of the DIA, Yuri Isaev, simultaneously coordinated the decisions on hiring Ms. Dolenko from Otkritie and almost immediately entrusted her to manage Trust, and then, with the consent of the owners of Otkritie, she was made the head of Trust.
Of course, there are coincidences in life. But they clearly do not occur when it comes to the development of 127 billion rubles allocated for the rehabilitation of Trust.
So could the owners of Otkritie, so to speak, “gild the pen” to Isaev so that he would make Veronika Dolenko the temporary manager of the Trust? In the end, for the expense of 127 billion rubles. should keep an eye on "your man".
"Oddities" in the assessment
Elvira Nabiullina
But due to the presence of the head of Ronano among the shareholders of Otkritie (before it left it), this financial organization was still called "Chubais's pocket bank".
But the head of the Central Bank Elvira Nabiullina in the second half of the 90s worked as secretary of Anatoly Chubais in the commission on economic reforms. She took this position on the recommendation of Yevgeny Yasin, who now works for the rector of the Higher School of Economics Yaroslav Kuzminov, Nabiullina's husband.
It is believed that she still retains loyalty to her former boss. It is no coincidence that users of the blogosphere openly write that "Nabiullina pumped 127 billion into the pocket bank of her teacher Chubais"
It seems that precisely because of her probable “loyalty to Chubais”, whose interests, with the help of Belyaev, according to rumors, are still “protected” by Otkritie Bank, Mrs. Nabiullina does not pay her attention to the dubious operations of this credit institution.
It turns out that the leadership of the DIA, which depends on the Central Bank, and Ms. Nabiullina herself, can lobby for the interests of Otkritie Bank. And, if this is true, then it is time for the investigating authorities to check this version.
After all, the Central Bank could unreasonably allocate as much as 44 billion rubles for the reorganization of Trust, which can now be “cut up” by the owners of Otkritie. Obviously, this issue needs to be dealt with in detail not only by representatives of the economic community, but also by law enforcement officers.
