Negative background. Negative Information Background
Why are the main owners of Promsvyazbank and Vozrozhdenie brothers Aleksey and Dmitry Ananyev change the team of key managers
The main owners of Promsvyazbank and Vozrozhdenie, brothers Alexey and Dmitry Ananyev, change the team of key managers, told Vedomosti three people close to both banks. Konstantin Basmanov leaves the “Renaissance” department, the interlocutors of Vedomosti know and confirms Basmanov’s acquaintance. He led the Renaissance two years ago, after the purchase of the bank by the Ananyevs. His duties are performed by deputy chairman Mark Nakhmanovich, the bank’s website says, in addition to him, three people are indicated on the board. At the end of September, Vozrozhdenie reported that the bank’s board of directors had approved Nakhmanovich’s nomination for the post of executive board and four more people to the board, including three regional managers.
Last week, Promsvyazbank left the deputy chairman of the board, Vladimir Mamakin, who oversaw the financial block. The deputy chairman of the board, Vladimir Shatalov, who heads the block of medium and small businesses at Promsvyazbank, may leave, Vedomosti interlocutors say. The representative of Promsvyazbank said only that Shatalov continues to work in the bank.
In the near future, the head of the Risks block Inabat Torok, who left the bank at the end of 2016, will return to the Promsvyazbank team, two Vedomosti interlocutors say and confirms the representative of Promsvyazbank.
Promsvyazbank is updating the team in connection with the integration processes that began a year ago and the upcoming merger with Vozrozhdenie, a representative of Promsvyazbank said: “In the case of a merger, the bank will have to change its strategy. Our task is to achieve more balanced indicators of profit for each business branch. ” About three weeks ago, Dmitry Larkin, who took the post of adviser to the board, and Vyacheslav Gritsaenko, who headed the retail unit, joined the bank’s team, he recalls.
For Promsvyazbank personnel leapfrog is not a rare thing
Buying continues
On Wednesday, Promsvyazbank's subordinated Eurobonds maturing in July 2021 became much cheaper - from more than 110% of the face value at the beginning of the day, their quotes dropped to 82.5% of the face value by 16.30 Moscow time (Bloomberg data). The yield on the paper jumped from 7.2 to 16.8% per annum. Soon, part of the fall was won back: by 6 p.m. the price was 94.3%, yield - 12.4%.
For almost a year, quotes of this issue held about 110%, but in the last week several times dropped to 100% of the face value, and on October 2 - to 92.5%. “The bank is interested in buying back subordinated bonds below par,” said a representative of Promsvyazbank. According to him, in September the bank bought back its own bonds worth more than $ 450 million and plans to "continue to periodically redeem its instruments from the market."
“The created negative background is good for us,” Dmitry Ananiev told Vedomosti. “We use it to buy bonds at a good price and we get additional income.”
In total, Promsvyazbank has four issues of subordinated bonds: four for $ 1.1 billion. Thus, the bank has already bought more than 40% of its subordinated bonds. In late September, Promsvyazbank reported on the Irish Stock Exchange that it had bought back part of its subordinated Eurobonds with maturity in 2019, increasing its stake to 37%, or by $ 105.3 million.
“I think that today everyone knows the state of the banking market. The most recent example is problems at Binbank. I would call the situation "the strongest survive." It is with this that I associate the permutations that are happening now in Promsvyazbank. Probably, the shareholders want the most powerful anti-crisis managers to be in key positions.
The situation is not very good right now, and the shareholders want to straighten it out, and this requires a reshuffle of people - [Dmitry] Ananyev is trying to correct the situation, ”says Andrei Zakharov, director of the recruitment department for financial institutions of the Contact agency. He associates the change of government in Revival with the upcoming integration with Promsvyazbank.
Conduct a merger of banks without financial director it may turn out to be more complicated, Moody’s analyst Lev Dorf wonders: “A change of team can be perceived by the market ambiguously when the background around the banking sector is generally negative and the two banks are preparing to merge. It would be right to replace key managers quickly so that this does not lengthen the integration timeline and increase the pressure on the situation. ”
“The banks will have to unite, most likely, the appointment of regional managers is a formal story for some period of time, now we need to fill in the board,” one of Vedomosti’s interlocutors believes.
“Shareholders are changing the team. This happens periodically in the bank - such a corporate culture has developed, ”says another Vedomosti interlocutor. The Ananyevs have such a “management style” and management rotation is cyclical in nature, confirms another interlocutor.
The last time the board of Promsvyazbank was seriously changing at the turn of 2015–2016. In December 2015, Dmitry Ananyev decided to head the bank himself, and the management Artyom Konstandyan soon left the bank. In early 2016, Vladimir Yashin decided to leave the post of first deputy chairman: he first went on a long vacation, and then quit. The board left two more people.
Daria Borisyak
"Version" , 05.10.17 , “Article for bankers”
Promsvyazbank, recently recognized as one of the systemically important credit organizations of the Russian Federation, runs the risk of becoming a defendant in a major international scandal. Now it becomes clear what analysts had in mind when they called risky business methods of brothers-bankers Alexei and Dmitry Ananyev.
The District Court of the Cypriot city of Nicosia is preparing to hear witnesses from the prosecution in a criminal case against the Russian Promsvyazbank. At the first meeting, which took place on September 29, the position of the prosecution was voiced in court. Promsvyazbank's Cypriot lawyers did not plead guilty of stealing Russian business from the Dutch United Investors Company BV on behalf of a client. Now the trial is moving on to the next phase. The study of documents and testimonies that can confirm or refute the bank's participation in the raider scheme is scheduled for January 28, 2018.
According to Greek law enforcement agencies, PSB could have stolen the Russian asset of United Investors Company BV, namely, the Ramfood group of companies. This company controls a large meat processing plant in the suburbs, a network of retail stores of meat products throughout the country and a pig complex near Saratov. Events to be sorted out by the Nicosia District Court took place in 2015.
Promsvyazbank acted as one of five major creditors
Backstab
As of the beginning of 2015, Ramfood Group had a debt to banks in the amount of $ 67 million. Borrowed funds were provided to her on the security of property, Promsvyazbank acted as one of the five main creditors. On the background economic crisis the performance of Ramfood Group deteriorated, as a result of which it ceased to cope with the credit load. To avoid bankruptcy and the sale of assets, the owner Mikhail Kershtein (he controlled Ramfood, apparently through the Dutch United Investors Company BV) found an investor who was ready to pull the GC out of the debt hole in exchange for 80% of the business.
The investor and actual owner of Ramfood was businessman Alexei Pavlov. According to his calculations, net profit a few years after the implementation of the plan for the rehabilitation of the GC should have been at least $ 100 million. Salvation of enterprises from bankruptcy would mean the preservation of thousands of jobs and the continued stable supply of high-quality meat products to the domestic market. Following his obligations, Pavlov bought out the debts of Ramfood to Alfa Bank for 367 million rubles and began negotiations with other creditors.
In the middle of December 2015, a strange thing happened: a certain Cypriot offshore “Maksoton Holding Limited” introduced authorized capital Ramfuda 126.5 million rubles, as a result of which it gained control over a 67% stake in the enterprise. The Dutch United Investors Company BV, owned and managed by Alexei Pavlov at that time, lost control of the business and rushed to the courts to challenge the deal.
The incident is explained simply: according to the contract between Pavlov and Kershtein, after the sale of 80% of the shares in Ramfood, the latter received the right to remain in office cEO GK and occupy it for five years. According to media reports, after the transaction with Alexei Pavlov, Mikhail Kershtein, through a corporate lawyer, issued a power of attorney, allowing you to make any transaction. Apparently, he sold the Ramfood Group of Companies twice, deprived Aleksey Pavlov of control over the company and, together with the new co-owners, the Cypriot company Maxoton Holding Limited, brought it to bankruptcy proceedings.
Consequences for the whole country
It’s possible that Kerstein’s new partner is just a screen that Promsvyazbank used to cover during this manipulation, if you adhere to the version that Maxoton Holding Limited is closely connected with the Cypriot branch of PSB. The same position is held by Greek law enforcement agencies. PSB lawyers say the bank does not know the ultimate beneficiary of the invader company. In this regard, the bank will have to disclose information about the client to the court, or fight to dismiss the case due to the unproven prosecution.
If the Nicosia District Court finds Promsvyazbank guilty, the credit institution will face serious sanctions, and its leadership may become a defendant in a criminal case, this time about laundering money. According to Greek laws, this provides for up to 14 years in prison.
Observers note that this is the first such process against a large domestic bank in a foreign court. In the event that a Greek court pronounces a guilty verdict, this will be not just a precedent for the criminal prosecution of Russian offshore capital, but a recognition of the backbone russian bank almost a "criminal" organization. Will the country's enemies take advantage of this to tighten economic sanctions against Russia? And if so, will it not turn out that the owners of Promsvyazbank “put a pig” not only to Alexei Pavlov and employees of Ramfud enterprises in several regions, but also to the entire Russian economy?
By the way
The situation around the Ramfood Group is far from the only major scandal involving Promsvyazbank. Last year, former top PSB manager Aleksey Komarov was detained in Russia on charges of illegal banking. The detectives took up Komarov after they received information that for three years, according to the investigation, he had cashed out at least 5 billion rubles through accounts opened at Promsvyazbank with dummies.
Vasily Makarov
Why are Western leaders not in a hurry to congratulate the Russian president and what could be the further reaction to the election results?
Russian President Vladimir Putin at his headquarters. Photo: Alexei Druzhinin / Reuters
Congratulations on the victory from abroad to Vladimir Putin began to arrive on March 18 before midnight. The first were the president and prime minister of Serbia, then there were the leaders of Abkhazia, Venezuela, Bolivia, Kazakhstan, Cuba and China. In the morning, a congratulatory telegram came from the presidents of Azerbaijan and Belarus. Shinzo Abe congratulated the President and Prime Minister of Japan: they talked with Putin over the phone. Dmitry Medvedev congratulated President through social networks.
In Europe, the President of Germany, Frank-Walter Steinmeier, was the first to break the silence. The corresponding message is published on his website. “I hope that we will be able to counter the disunity on our continent and between people in Russia and Germany, and that you will use the new term for this. We must continue the dialogue within a confidential framework, ”said Steinmeier. German Chancellor Angela Merkel will soon send a telegram to Putin, said spokesman for the German government Steffen Seibert.
What will be the further reaction of the West? Business FM discussed this with director of the International Institute for Political Expertise Evgeni Minchenko. Igor Lomakin talked with him.
Let's start with congratulations that the West does not have. This is normal?
Evgeny Minchenko: No, this is not normal. More precisely, this is normal in the current situation, it is expected, because there was a very serious media wave in the West, that the elections in Russia were not elections, that the opposition was not allowed, so the results can be questioned. This is a continuation of the propaganda line, but it is one thing when the media say it, and yet there is still the official position of the state. Therefore, I think we must wait.
There are practically no comments as such, which is also rather strange.
Evgeny Minchenko: They hold a pause, the Skripal case is all the more superimposed. Only today was the statement of the European Commission: they worry that the British declare Russia's involvement in this poisoning. I think this also creates a negative background.
It seems that these stories are strongly connected. Last night, the British authorities thanked Putin’s headquarters for helping Putin increase turnout and bring new voices. Do you agree with this concept of unity around the flag?
Evgeny Minchenko: Yes. Undoubtedly, over the past week there has been a sharp jump both in turnout and in Putin's rating, with Vladimir Zhirinovsky being the main victim: the votes of the radical patriots, who often gathered Vladimir Zhirinovsky, eventually went to Vladimir Putin.
You yourself said now that the story of the non-congratulation, voiced positions regarding the possible contestation of the election results occurs against the background of quite unfounded accusations against Moscow in the Skripal case. This rhetoric will not continue in relation to the results of the presidential election?
Evgeny Minchenko: I think that at some point, most likely in 2012 after Putin returned to the presidency, a strategic decision was made by the globalist elites of the West that Russia should be turned into a rogue state. And Crimean events did not become a turning point in relations: before that there was a big campaign about Russia's unpreparedness for the Olympics, about the infringement of the rights of sexual minorities. They just all forgot about it and say that everything has changed with Crimea. No, nothing like that. Relations began to deteriorate much earlier, and here the issue is no longer reasons, but reasons. Therefore, I think that we have entered a new Cold War. Its peak has not yet been reached, and deterioration is yet to come.
That is, it can be expected that someone in the West will say that the Russian president is not legitimate?
Evgeny Minchenko: I think that such an opportunity exists at least from the UK.
Returning to the Salisbury story, I know that you just recently came from the UK and gained some impressions there. According to your feelings, what will this whole story lead to and at what stage is it now - at the stage of only development, or is everything gradually coming to naught?
Evgeny Minchenko: No, this is a developmental stage. Sane people, business representatives, political consultants in a non-public format say: it’s very convenient to have Russia as an enemy. It’s just very convenient, many political and business players have relied on this. And they will move in this direction, regardless of what facts are presented. From the point of view of public opinion, there is a real hysteria, a real deterioration in the attitude towards both Russia and Russians. I can say that I had several very important meetings at the last moment canceled just against the background of this incident. Both Russia and Russians are becoming toxic there in public opinion. The indicator is how even Jeremy Corbin’s own party, the Laborites began to criticize him for one simple phrase, when he said: let's at least conduct an investigation, present evidence, and then blame Russia. And so it poured out on him that it was a shock for him, and for me, who was watching this. Therefore, public opinion is very much pumped up against Russia.
Austria urged to wait for the outcome of the investigation with the participation of the Organization for the Prohibition of Chemical Weapons (OPCW) and does not intend to until then declare Russia's involvement in the poisoning in Salisbury of former GRU officer Sergei Skripal. This was stated by Austrian Foreign Minister Karin Kneisl.
OPCW technical experts have begun sampling the toxic substances in Salisbury. Earlier, the British Foreign Ministry informed that the samples will be transferred to international laboratories with "high reputation", which will be selected by the OPCW for testing. Preparation of the results will take at least two weeks.
Presidential spokesman Dmitry Peskov called London’s accusations against Russia in the case of the poisoned ex-colonel of the GRU Sergei Skripal a difficult to explain, baseless, slanderous stream. At the same time, he noted that the Kremlin is not inclined to talk about the aggravation of relations with the West. “We understand the solidarity and the Euro-Atlantic, and the other, but we repeat once again, sooner or later we will have to answer for these unfounded accusations,” said Peskov. “It will be necessary to either reinforce them with something, some kind of evidence, or apologize accordingly.”
The British side claims that Russia was involved in the poisoning of the Skrypals with nerve agent from the Novichok group. Earlier, Prime Minister Theresa May announced the expulsion of 23 Russian diplomats. Moscow answered in a mirror: 23 diplomats will also be deported from Russia and the consulate general in St. Petersburg will be closed. The activities of the British Council were terminated.
Former GRU Colonel Sergei Skripal and his daughter Julia were poisoned on March 4 in Salisbury. Russia considers the accusations of Britain unproven.
The international rating agency Moody’s today downgraded its long-term senior unsecured debt ratings and deposit ratings of Promsvyazbank (PSB). The reasons Moody’s cites are a significant amount of impaired assets, a refusal to merge with Vozrozhdenie Bank, as well as a negative informational background around Promsvyazbank related to the reorganization of FC Otkrytie and Binbank. The owners of Promsvyazbank strongly disagree with this assessment.
According to Moody’s, a negative news background may weaken the Promsvyazbank liquidity profile.
To solve these problems, the bank will have to maintain an additional liquidity buffer and offer higher interest rates on deposits, which, in turn, will put additional pressure on the bank’s profitability.
At the same time, Moody’s expects that Promsvyazbank is likely to receive support from the Central Bank, if necessary. The Central Bank recently tested new tools to provide emergency support to large private banks through the Banking Sector Consolidation Fund, supporting Otkritie FC and Binbank, the agency reminds.
PSB strongly disagree with the decision of Moody’s. “We regret this decision by Moody’s and look forward to a speedy review. We believe that it reflects Moody’s subjective opinion, inspired by an external negative background, rather than the real, objective situation in Promsvyazbank, ”Dmitry Ananyev emphasized the bank’s management. According to him, the assigned assessment is not confirmed by the dynamics of the bank's indicators. He also clarified that “the decision of the majority shareholders is not to cancel, but to postpone the issue of joining Bank Vozrozhdenie to 2018 and does not affect the performance of Promsvyazbank and Bank Vozrozhdenie.”
According to the Central Bank, the owner of 50.03% of the PSB is Promsvyaz Capital B.V., which is controlled by brothers Alexey and Dmitry Ananyev. 11.74% belongs to the European Bank for Reconstruction and Development, 10% to NPF Future, 9.96% to Moscow credit bank (MKB), 6.18% - NPF Safmar, 3.81% - NPF Trust, other securities are distributed among minority shareholders. Vozrozhdenie became part of the Promsvyazkapital holding, the head structure of the Ananyev brothers, in 2015. 50% of Vozrozhdenie’s shares are owned by Promsvyaz Capital B.V., 2.38% - directly to PSB, 9.98% - VectorInvest LLC, 6.67% - Wipasena Holding Ltd. 8.6% - MKB, 5.7% - Bank Saint Petersburg, the rest is distributed among minority shareholders.
Pavel Aksenov, Ksenia Dementieva
The analytical center of the Association of Financiers of Kazakhstan presents its daily review of markets and exchanges
Toward the end of a rather volatile week, there was a slight return of optimism on world markets, which was facilitated by the continued recovery of the Turkish lira (three consecutive sessions), a decrease in the risks of escalation of trade contradictions between Washington and Beijing against the background of the start of the fourth round of official negotiations on trade agreements. On Thursday, major US stock indices added 0,4-1,6%. As it became known yesterday, Vice Minister of Trade of China Wang Shouvenwill hold talks with the US Under Secretary of the Treasury By David Malpas In the end of August. Support for American sites was also provided by strong internal statistics - the number of initial applications for unemployment benefits in the US over the past week decreased 2 thousand, up to 212 thousand, while analysts had expected growth for 2 thousand At today's Asian trading is observed mainly positive dynamics.
Nevertheless, the situation in Turkey, as well as the US sanctions policy in the near future will remain one of the key factors influencing investor sentiment both in emerging markets and in developed ones. Head of Treasury Stephen Mnuchindeclared readiness to introduce additional sanctions against Turkey if the American pastor Andrew Brunson will not be released any time soon. Turkish officials have not yet reacted. Moreover, earlier on Thursday, the Minister of Finance of Turkey, part-time son-in-law of the President of Turkey Erdogan - Berat Albayrak assured the public that Turkey will come out of the currency crisis, becoming even stronger.
Oil quotes on Thursday recovered after plummeting on the eve. As a result of trading, October Brent futures rose in price 0.88% to $ 71.38 per barrel. Oil prices received support from the news of sending the Chinese delegation to the United States for trade negotiations. In this case, it is likely that Turkey, amid tensions with the United States, may continue to import oil from Iran, after the entry into force of US sanctions in November. Analysts note that the market remains concerned about a possible decline in global demand for raw materials amid several rounds of the introduction of trade duties between the United States and China.
Russian ruble strengthened on Thursday by 0.70% to 66.83 rubles per dollar.Analysts explain some strengthening of the ruble by the positive dynamics of oil prices and the recovery of currencies in emerging markets, including the Turkish lira. At the same time, on the side of the ruble taxable period and suspension of Bank of Russia foreign exchange interventions for the Ministry of Finance as part of the budget rule. The main event in Russian financial market today may be a decision to revise the credit rating of the Russian Federation ("BBB -" / Positive) by the international rating agency Fitch. At the same time, the topic of US sanctions may also make certain changes to the dynamics of the USDRUB pair. Recall, on August 22, the US State Department is due to publish the first package of sanctions against the Russian Federation because of the Skripals case, and with the beginning of the summer vacation in September, the situation with congressional sanctions will become clear.
On Thursday, the national currency continued to win positions in tandem with the US dollar. At the same time, at the KASE morning currency session, the tenge was contrary to the dynamics of oil and russian rublefortified up to 361.07 tenge per dollar (-0.59 tenge).At the afternoon session, tenge strengthening continued (up to 360.59 tenge per dollar), but already in parallel with the recovery in oil prices and the positive dynamics of the USDRUB pair. As a result, the average rate of tenge against the US dollar closed at around 360.87 tenge per dollar (0.79 tenge)with a low trading volume - 136.6 million dollars (+ 12.6%).At the same time, the tenge has strengthened along with the Russian ruble at 4 tyina to level 5.40 tenge per ruble.
At the current morning session, the pair USDKZT (10:25 AST) is trading at 359.60 tenge per dollar, what by 0.47 tengebelow the weighted average closing rate of the previous session.
USDKZT Price
Source: KASE
Kazakhstani rates money market on Thursday showed insignificant upward dynamics. Weighted average one-day repo rate on bail valuable papers increased up to 8.19% per annum (+2 b.p.), and one-day currency swap rates were fixed at 8.34% per annum (+1 bp).
At the same time, no significant changes in the liquidity level of second-tier banks placed in notes and on correspondent accounts of the NBK are noted: the volume of notes in circulation is close to the mark 3.6 trillion tenge,and balances on correspondent accounts of banks still vary close 200 billion tenge ( tech. 190). At the same time, on Thursday, the regulator posted weekly notes in the amount of 247.1 billion tenge at 8.10% per annum. At today's auction, the central bank will offer weekly and three-month obligations.
Kazakhstan stock market closed on Thursday in the red zone despite further appreciation national currency. At the same time, the trading volume with shares of the representative list decreased 2.3 times, up to 94.8 million tenge.On Thursday, the number of cheaper and more expensive instruments was divided equally (three each) and KazTransOil equity instruments did not change in price. Pressure on the index was exerted by banking sector shares - People's Bank (-2,0%), BCC (-1,4%), as well as equity instruments KAZ Minerals (-1,1%). Of the upcoming events, we want to note the publication financial statements according to the results of six months of the People’s Bank (20.08) and Kazakhtelecom (~20.08), as well as the assurances of the Chairman of the Board of Samruk-Kazyna JSC about entering the IPO before the end of the current three years Holding companies: Kazakhtelecom, Air Astana and Kazatomprom.
Events in Kazakhstan
- Esimov - Nazarbayev: Kazakhtelecom, Air Astana and Kazatomprom at IPO until the end of the year.
- The National Bank of Kazakhstan on market conditions lends to banks to support the economy.
- Did the banks of Kazakhstan benefit from the state?
- Can the economy be strong with weak tenge?
- On amendments to the legislation on the regulation of online lending.
- What kind
Click to Enlarge
What is commonly called mood in the language of psychology is called the emotional background. It can be conditionally divided into two extreme categories - a positive background and a negative one. In the people it is customary to call a good and bad mood. However, the caveat here is that the mood can change several times a day, but the emotional background is what is inherent in a person most of the time.
Of course, most people enjoy contacting people who have a positive emotional background. It’s easier to talk with them, and you don’t need to look for a special approach, and they are ready to discuss almost any topic.
However, there are disadvantages in this case. Since the emotional background of these people is very stable, they react poorly not only to difficulties in their lives, but also to other people's problems. Simply put, if you tell them about your problems, they are unlikely to interest them. In most cases, positive-minded people either do not take problems seriously, or try to slip away from them, especially if they are other people's problems.
Holders of negative emotional background are their exact opposite. Communicating with them is not very pleasant. Even if they make contact, in the near future you will get the impression that this is either an avid critic, or a bruise, or a pathological grumble. Actually, precisely such nicknames are assigned to them.
Usually they do not like them, thinking that they do not need anyone and they do not want to communicate. However, in reality they just have a different communication style. In most cases, they do not refuse contact, they just have a specific way of communicating.
Do not try to forcefully talk such a person and make him laugh. If you begin to poison jokes in his presence, he can even mentally twist a finger at the temple. If they are happy, then only in response to some kind of happy event that occurred precisely in their, and not someone else's life.
Do not count on them to enjoy your happiness. True, they are quite willing to express sympathy, which is partly good, but it can also be a negative, since it can easily be rolled to a joint whining.
Another important feature of them is that they are quite hostile towards the world around them and therefore are constantly tense, they all question and wait for a blow. This does not mean that they are all chronic losers and paranoid: among such people there are also successful people, although not as often as among people with a positive attitude.
In any case, do not try to remake them. Despite the mask of the negative mood, many of them are pretty nice and often very interesting people, so try to find the pluses with them.