Dmitry Sredin: “Studying the financial condition of borrowers, we take political risks into account” & nbsp. How do you rate potential borrowers
Working with exporters is one of the priority areas of our business: the share of exporters in the total portfolio of the bank is 32%, and it has been stable for five years now.
Loans are far from the only or main product for exporters. Trade finance instruments are actively used to finance foreign trade in general and Russian exporters in particular. As a member of an international group, Russian Raiffeisenbank offers complex solutions in the field of documentary operations in servicing trade operations with the countries of Central and Eastern Europe. We have extensive experience working not only with European countries, but also with Asia and the Middle East. This gives us additional advantages in the Russian market.
The service of issuing tender guarantees and guarantees of contract performance for the participation of Russian companies in international projects is popular among our clients. Here the bank must simultaneously meet three key requirements. Firstly, it is an expertise with an understanding of the specifics of working with guarantees in different regions (especially in the Middle East countries), and secondly, the ability to work with a complex structure of participants (including consortia). Finally, the bank must meet the criteria for the competition (the requirements for banks are very high, since projects are often funded with government participation). Our bank meets all these criteria, so we regularly issue tender guarantees in favor of beneficiaries both in Europe - from Greece and Serbia to Austria Germany - and in other regions, for example, in Lebanon, Chile, Kuwait and, of course, India.
Another form of financing demanded by exporters is confirmation of letters of credit issued by foreign banks. This allows the exporter to delegate to us the analysis of the reliability of the payment obligation received (upon confirmation of the letter of credit, we undertake the payment to the exporter in the event, for example, of the bankruptcy of a foreign bank). In a number of cases, exporters turn to us for confirmation at the request of another Russian bank that has provided financing (including under preferential programs). Such a scheme of work is convenient both for foreign banks with experience of working with the Raiffeisen Group, and for a Russian bank that does not need to work with documents under a letter of credit, and the receipt of export proceeds is guaranteed by a Russian bank with the highest rating in the country.
Recently, the documentary business has attracted more and more interest from both the largest exporters and SMEs. We see a request for more complex, but financially interesting instruments. Therefore, we are actively introducing the experience of our European colleagues into our practice. For example, there is an interesting know-how - discounting of export letters of credit: our bank adds confirmation to the letter of credit issued by a foreign bank in favor of the exporter and providing for a deferred payment. Then, at the request of the exporter, we can pay the obligations ahead of schedule with a discount, while the importer still settles with us within the timeframe established by the contract (therefore, the service is called "discounting").
Discounting has many advantages over other types of financing. Discounting of a letter of credit is usually done “without recourse” to the exporter, ie, the bank fully bears the credit risk on the importer and his bank until payment is made. The conclusion of an agreement with us and receipt of an early payment does not lead to an increase in the credit burden of our client. Usually, the cost of the exporter for obtaining financing (discount) is lower than the cost of the loan, and when it comes to discounting a letter of credit from a first-class foreign bank, the savings will be significant.
So far, the Russian market offers only ruble financing of suppliers under their own letters of credit. Russian banks have not yet offered discounting of international letters of credit, primarily due to difficulties with currency regulation. Therefore, Russian exporters often turn to foreign banks for financing, which is not available to everyone. We at Raiffeisenbank have carefully worked out this issue and structured the service in such a way that Russian exporters have the opportunity to obtain financing directly through the Russian Raiffeisenbank - this is more convenient and affordable for a wider range of clients. We offer our clients a comprehensive service, including paperwork for currency control.
There is a lot of talk now about innovation, including the digitalization of trade finance. Indeed, we see a growing number of exporters who are seeking to abandon the postage of paper shipping documents and are switching to the electronic bill of lading. Together with our colleagues from the Raiffeisen group, we are actively working to promote this service both in Central and Eastern Europe and in Russia. &
The head of the department for work with large companies of Raiffeisenbank Dmitry Sredin told RBC Rostov about the bank's development plans on the Don, the positive impact of the crisis and export prospects
- How do you assess the results of Raiffeisenbank's work in 2018, incl. in the Rostov region?
- If we take the results of last year in Russia as a whole, then we have grown significantly. Our corporate business grew more than 30% on a number of metrics, including assets and profits, and some of the metrics grew even faster.
In the Rostov Region, we had even more significant growth: we increased our liabilities and the documentary business by about three times, we more than tripled in terms of assets, the loan portfolio amounted to more than 3.5 billion rubles at the end of last year.
On the Don, export-oriented companies account for approximately 60% of our client base. Therefore, in the work of the bank in the region, an emphasis is expressed on products related to export-import operations, including foreign exchange. Documentary solutions were in demand - guarantees and letters of credit.
We work steadily with most of the key companies in the Rostov region. Among our clients are JTI, Aston, Dorspetsstroy. We started working with someone last year, with someone we expanded our cooperation. For example, with the support of the Russian Export Center, a rather significant deal was concluded with Aston.
- What types of lending were most in demand in the Rostov region?
- There were no significant changes in this segment. In the Rostov region, we have about 95% of the portfolio accounted for by circulating lending, i.e. these are short-term loans. Investment, "long" loans are about 5-7%.
- What are the most popular banking products among your bank's clients? Are there any differences in the Rostov region from the indicators for the regions as a whole?
- In addition to standard lending and attracting deposits, these are documentary and foreign exchange transactions.
As I have already noted, the specificity of the region is that more companies are focused on export here than on the national average. In addition, there are many large companies from the agro-industrial sector. They are interested in the program to support agricultural producers, when the interest rate for the borrower is minimized, and the difference is compensated by the Ministry of Agriculture to the bank.
- What other state support programs are currently relevant for big business? And how much they are in demand, incl. in the Rostov region?
- We see that the state is more and more actively involved in various kinds of support programs in various sectors. Some are used more often, some less often, some are still in test mode. In particular, we know about the plans of Dom.RF to support lending to housing construction - they are now working on a program and plan to become an insurer for part of the credit risk that a commercial bank takes on.
I have already mentioned the export support program, which partially compensates for the key expenses of exporters, for example, for transport logistics. She is in demand on the Don. There is also a leasing support program for the purchase of vehicles.
- How, in general, is the situation with such a direction as leasing?
- Our leasing business is growing faster than most banking products - indicators in 2017-2018 increased significantly. This product has good prospects in the Rostov region. On the one hand, this tool is convenient for representatives of the agro-industrial complex. On the other hand, further investments in the transport infrastructure of the region will stimulate its use. Therefore, we plan to further develop this product line.
- The total factoring portfolio of Raiffeisenbank at the end of 2018 grew by 12% to 17.72 billion rubles. How did the growth come about?
- Factoring is growing due to the fact that we have a fairly large focus on it, as well as on leasing. We see great potential in this product and have invested a lot in it over the past years, as the demand from customers has begun to grow rapidly, especially in the regions. And the Rostov region is no exception.
This scheme guarantees suppliers enough working capital to close all the value chains of any product. Factoring is very cost effective. As a provider, we have worked well with this product in terms of document flow and decision-making speed.
- You said that in the Rostov region 60% of your clients are export-related. How has the activity of business in the foreign economic direction changed?
- Export activity in the Rostov region is growing. According to the Federal Customs Service, last year the region exported $ 9 billion worth of products, which is a significant amount.
Don's exporters use our entire product line. In addition, Raiffeisenbank is part of an international banking group and can offer our clients many interesting solutions not only in the Russian Federation, but also abroad. The guarantees and letters of credit issued by us are accepted with great desire abroad, and this is especially important in the context of sanctions.
- How is your work evolving against the background of the constant tightening of sanctions? How has the relationship with customers changed?
- From the point of view of relations with clients, nothing has changed, the credit policy has also remained the same. Raiffeisenbank has a very balanced portfolio, risk concentration is at a very comfortable level. Therefore, it does not become a disaster for us if this or that company is included in the sanctions list. Although this is a very sad event, because we love our clients and try to help them develop their business.
We, of course, carefully analyzed the force majeure scenario and the consequences of the inclusion of certain companies in the sanctions lists. The result did not scare us - in terms of financial stability, nothing negative for the bank will happen.
Some consider our prudent lending policy to be conservative. It allows the bank to maintain high stability; we have one of the most effective business models in the financial sector. Our ROE (return on equity) at the end of 2018 was 25.7% - a record in the history of our bank. We will strive to deliver similar results in 2019 and 2020. Probably, only Sberbank has comparable figures, which has a completely different scale of business.
- Not so long ago, Raiffeisenbank took part in pilot transactions for issuing bank guarantees on blockchain platforms. How do you assess the results of this experiment? Is there a demand for such services in the region?
- The participants in the transaction were the Mozyr Oil Refinery, Gazprom Neft and the Belarusian Priorbank. It was not an experiment, it was the purposeful work of the bank to apply modern technologies. About a year and a half ago, Raiffeisenbank issued the first bonds using the blockchain, now it has done so with letters of credit and guarantees.
We spend a lot of time and resources to ensure that the bank does not stand still, but moves in step with the times, using all modern technologies for the benefit of clients.
If we talk about the last transaction, then it significantly reduces the workflow and increases the transparency of operations, as well as reduces certain costs (both economic and time), and reduces the need for human resources. Until such a mechanism is used in all our transactions, we need all parties to be ready for changes. The pilot deal was very successful. There is interest from companies from the region, we are discussing this with many clients. While, naturally, companies study, understand and try to understand what potential risks may arise - by nature, people are conservative. But we expect that in 2019 there will be more and more transactions using modern technologies, incl. blockchain.
- What predictions can you make for 2019? What areas are you planning to focus on?
- We are a universal commercial bank. Therefore, we plan to develop all areas in the future. Our goal is to ensure that our customers enjoy using the entire product line.
We do not place special emphasis on one or two products, but offer complex solutions that cover all customer needs.
We also plan to expand our presence in the region, to strengthen and pay a lot of attention to the Rostov region - therefore we expect a significant increase in the Don.
If we talk about the general economic situation, then, in my opinion, there are currently no prerequisites for stagnation. But there are opportunities for a positive shift both in the Russian economy and in the Rostov region.
Of course, there are always nuances. But difficult times lead to the cleansing of the system of ineffective companies, to the adjustment of certain industries. This also has its advantages, because a situation of less predictability in the economy will require better management, a better approach and strategic thinking at the shareholder level.
To talk about industry changes that are currently affecting the banking business and cooperation schemes with certain markets. Dmitry Sredin also shared his opinion on what format of interaction with clients will be more effective in the coming years, and what approaches should be followed in cooperation with business.
Recently, Delovoy Kvartal held a round table with Novosibirsk bankers - they talked about the state of business in the region, the popularity of investment loans, came to the conclusion that entrepreneurs did not feel very well last year, and projects that could be fearlessly funded on there is practically no market ...
Perhaps the business is not so confident about the future, because in the past few years it is, indeed, uncertain. And if earlier it was customary to plan the budgets and projects of companies for three to five years in advance, now the planning horizon in a number of industries has narrowed to months. Therefore, if we talk about long-term investment projects, then yes, there are fewer of them. People do not understand in which direction their industry will begin to develop, it all depends on the macroeconomic situation. Growth opportunities for companies are limited, but at the same time, the largest players in key industries continue to show strong growth, it is just that in some cases the market is consolidating, and weak players leave, unable to withstand, on the one hand, competition, and on the other, the economic situation.
I repeat, investment projects, indeed, have become fewer - there remain mainly global projects of a federal scale, which have not stopped in their implementation, and will continue to develop. Medium and small companies are now focused more on improving the efficiency of their own business, updating production facilities, but we do not see any bold investments in new projects yet.
Which industries were the most active in terms of lending last year?
We finance companies in all industries, with the exception of the defense and nuclear industries. We have not seen prominent surges in some industries and falls in others. The demand for loans is about the same everywhere. There are simply industries with a higher risk - for example, construction.
Last year, some bankers talked about pharmaceuticals and medicine as the most leveraged and least risky markets. As, for example, and industry ...
The pharmaceutical market is doing pretty well, it's true. But at the same time, certain difficulties are observed in the pharmacy retail - there is a very low business margin, and sometimes the owners fall into a trap when it is necessary to increase the volumes, the number of pharmacies, but with very low margin and high debt burden, any deviation in the market can quickly create significant financial difficulties. that can lead to potential bankruptcy.
As for the industry, for example, metallurgy felt quite well last year, many transactions were closed, including syndicated loans. We also had several interesting deals in agriculture, so we can say that different sectors are doing well.
By and large, there are no distinctive features of the markets, we can talk about specific companies within industries - they, of course, can feel differently. The current situation in the country's economy simply shows the effectiveness or ineffectiveness of the management or strategy of companies. In difficult periods, all the disadvantages pop up, and this sometimes leads to big problems. But we try to predict the development of events in the markets in advance. It is very important for us to assess the quality of management, to look at where the company is going, to analyze the industry, to look at the company's macro-strategy and to work with those players in whom we believe.
Nevertheless, there are banks that openly say that they carefully choose industries, they even refuse some. Last year, there were banks that conserved their strength when working with local retailers, did not want to spend money on high-risk cooperation in this area, as they rated the chances of successful transactions in regional retail as low.
We work with retailers, but we try to cooperate more with federal chains, because they have a fairly effective model that allows you to manage costs. And local networks in cities are not so dynamic, and, most likely, they will gradually disappear and be absorbed by large federal players. At the same time, we are working with some chains that are focused on certain regions of presence - for example, Monetka, which operates mainly in the Urals, but it is also gradually expanding. That is, it is not necessary to take companies that operate from Vladivostok to Kaliningrad. Retail in general is interesting and understandable to us, but we are very selective in looking at those with whom we work.
Are there other industries with which you do not work much?
Now we are still very closely watching what is happening with the new legislation in housing construction. Until the rules for the work of developers are established, we do not plan to actively enter it, but at the same time we create the entire infrastructure for working with these clients. We will naturally have escrow accounts and everything that is needed to work with this industry, but so far we see quite large risks due to new legislation and ongoing efforts by developers to change the wording in the law. Therefore, we are not yet ready to provide credit resources without fully understanding the rules of the game. We guess that the weakest players, thanks to the new law, will leave the market rather quickly. Because there is a requirement for equity capital, which many small players simply do not physically have.
As for escrow accounts: how will this new scheme affect interactions with developers, the real estate market itself, and potential buyers? And where is it risky for bankers?
Earlier, when the bank gave a loan for the construction of a residential building, the developer started selling apartments at the stage of the foundation pit, and sent the money received either to the construction site or to early repayment of the loan. Accordingly, the loan was repaid much earlier than 3-5 years for which the funds were taken, and the rate of sales influenced the rate of repayment of this loan. Now, when a buyer buys an apartment, the money goes to a special account, and the developer does not have access to it, like a bank.
That is, the bank cannot use these funds to repay the loan early. As soon as the house was commissioned, the money got to the developer, he can use these funds as he wants, but first of all, probably, to repay the loan. If the house is not leased, if the company was unable to complete the construction for one reason or another, then the funds will return to the buyer of the apartment, but they are not returned to the bank, and he becomes a hostage of the unfinished house.
This is not a law for bankers, but for apartment buyers. Therefore, the task of banks here is to select those developers whom they consider reliable, in which they believe. However, this format of work is relevant regardless of whether a developer or an oil company takes a loan - in any case, the bank analyzes the financial condition of the company, the quality of management in it, and decides on the approval of the credit limit.
Banks “on the shore” should be able to assess whether a particular company is worthy of being a borrower or not, and, accordingly, to understand whether it is taking risks by issuing a loan for a conditional 5 billion rubles. or not. This is the essence of the business of a commercial bank - to take a risk and make money on it.
By the way, with regard to risks: now there are subsidized loans, state programs for business support. How successfully do they work, how do they really help the business?
The programs are working well, but they are, of course, limited in scope. The program for supporting agriculture through the Ministry of Agriculture of the Russian Federation is very effective - these subsidized loans are actively used by the largest companies throughout the country. Naturally, this is a huge support, because it reduces the burden on the business in terms of servicing loans. It is gratifying that such programs will continue, and we, like many other banks, are actively participating in this, we are aware of certain changes in export support from the credit agency, Vnesheconombank and Dom.RF are now starting to work actively, each in its own segment. in their industry. These topics are very interesting and, I think, quite effective.
Of course, it is impossible to close the entire economy of the country with subsidies, but where it is precisely the support of the state that is required in order for the industry to grow, develop and reach a good volume in order to live independently, this is necessary.
Banks are now changing their approach to serving companies and, for example, refer to small businesses as retail. Why? And what kind of approach is the client waiting for now?
The approaches to working with accounts for small businesses are, indeed, closer to the retail segment. In general, most small businesses are owned by individuals who manage them themselves, so the approaches are similar to lending to individuals. There are, of course, their own nuances, there are product offers that differ from those for individuals, but in terms of mentality, these customers are very similar.
Large and medium-sized companies are a separate group, another product line in the arsenal. And, by the way, client managers in this segment already need others, they become rather partners who advise the head of the company on how to manage finances, how to allocate resources more efficiently, and so on. Well, in addition to advice, it is necessary to somehow organize the whole process.
This is the approach that customers are now looking forward to. There is also such a component of customer comfort as the transition of service delivery processes to digital. And this is what we pay a lot of attention to. Now in our bank, about 20% of employees are responsible for IT - for new technologies and solutions that lie precisely in the digital plane. They allow the client to minimize paperwork in dealing with the bank. Retail customers are less likely to visit branches and resolve their issues through apps and online banking.
We even recently signed our first digitally signed lease online. We also test transactions, products where you no longer need to send a bundle of documents that need to be sewn, signed, stamped - all this happens online. The same, I am sure, will happen in the near future in lending - people will manage their business and interaction with the bank via the phone. This will also lead to certain changes in the structure of a commercial bank.
And this is what banks will compete with in the near future for a client?
Including. But each bank sees the future differently. There are banks a la Tinkoff, with their own characteristics, there are such as Modulbank, there are classic ones - a la Sberbank. All have their own characteristics and strategies. At the same time, even in the world of state-owned banks, there are those that invest a lot in technology, and there are those that remain in the traditional format. There are private banks that also have different views on how their business is developing and where they will come in 5-10 years. We clearly understand that if you don't start to change today, you can lose tomorrow. Therefore, we invest a lot in digital technologies, realizing that this is the future for Raiffeisenbank. Some believe that the future is in a classic bank, in physical branches, in a large number of employees. This, too, probably has its own truth, but let's see who will be right the day after tomorrow. It seems to us that the traditional classic bank of the late 90s is becoming a thing of the past. Therefore, we believe that the investments we have made today are justified, and they will give a great impetus to the development of our business.
Resolution
Our village is growing: the population is increasing, new houses are being built, new streets and microdistricts appear.
In December 2018, Resolution No. 289 of the Administration of the Municipal Formation "Medvedevskoe Urban Settlement" was issued on the assignment of a new street in the village of Medvedevo named after Dmitry Sredin.
We want to tell you about a man whose name the street will now bear, so that generations of people remember not only the glorious names of fellow countrymen, but also their deeds, their work.
Dmitry Vasilyevich Sredin was born on February 11, 1907 in the family of a middle peasant from the village of Surty in the Medvedevsky District of the Mari Autonomous Soviet Socialist Republic.
He began to work at the age of eleven, received an excellent work hardening and did not disdain any work, as a teenager he helped to raft wood along the river. Kundysh. Traded in the local community. Then he headed the city workers' cooperative and shop.
In 1929-1931 he served in the ranks of the Red Army in Kronstadt. After demobilization, he worked as an instructor for a workers' cooperative in the city of Yoshkar-Ola, chairman of the Yoshkar-Ola city council of OSOAVIAKHIM (Society for the Promotion of Defense, Aviation and Chemical Construction - a Soviet socio-political defense organization that existed in 1927-1948, the predecessor of DOSAAF).
In March 1933, among 50 communists, the regional committee of the CPSU (b) sent him to Zvenigovo, where Sredin became chairman of the Zvenigovsky district council of OSOAVIAKHIM, and since 1938 - the head of the Zvenigovsky district land department. Eight years have passed here - a difficult period of becoming a leader. Repressions of 1937-39 raged in the country, they also affected our republic, but Dmitry Vasilyevich, fortunately, passed.
In 1939, Dmitry Vasilyevich was nominated for party work, first as the head of the propaganda and agitation department of the Zvenigovsky district party committee, and then as the personnel secretary and second secretary of the Kilemarsky district committee of the CPSU (b).
From 1943 he worked as the head of a department of the Mari regional committee of the CPSU, and in 1944 he was elected first secretary of the Ronginsky regional party committee. In 1948 Sredin D.V. sent to study at the Gorky Higher Party School, after which he worked as the head of the agriculture department of the regional committee of the CPSU (b).
September 1951 became a turning point in the life of D.V. Middle. He was elected first secretary of the Medvedev district party committee. He headed the district from 1951 to 1970, worked until retirement for 19 years. For his worthy contribution to the overall success, he also received awards. Sredin is a holder of the Orders of Lenin, the October Revolution, the Red Star, and the Red Banner of Labor.
Delegates of the 23rd Congress of the CPSU from the Mari regional party organization and comrade Suslov M.A. 1st row: Uraev P.V. (First Secretary of the Mari Regional Party Committee), unknown. (seller from Yoshkar-Ola), Suslov M. A. (Secretary of the Central Committee of the CPSU), Gorinov T. I. (Chairman of the Council of Ministers of the MASSR), unknown. (Volzhsk, MBK). 2nd row: Bagaev G. N. (director of the "Voskhod" state farm in the Mari-Turek region), Yarovikov A. V. (chairman of the "40 years of October" collective farm in the Novotoryal region), Almakaev P. A. (Second secretary of the Mari regional party committee ), Udovichenko A.A. (position unknown), Sredin D.V., Utrosin A.A. (commander of the 14th missile division). 3rd row: unknown, Sakanov Evstafiy Fedorovich (Secretariat of the Supreme Soviet of the MASSR). Moscow, St. George Hall of the Kremlin, 1966.
He was elected a deputy of the Supreme Soviet of the MASSR (five times) and the RSFSR, a member of the Mari regional party committee and a delegate to the 23rd Congress of the CPSU. Elected as a deputy of the Medvedevsky District Council of eight convocations.
The personal file contains characteristics signed by the secretaries of the regional committee Pavlov, Kushnarev, Uraev, Nikonov, evaluating his activities only from a positive side. He respected people, and they paid him the same.
On April 28, 1970, Dmitry Vasilyevich was solemnly escorted to a well-deserved rest. It should be noted that D.V. Sredin worked for more than a year, already retired, in the apparatus of the Mari regional committee of the CPSU. Dmitry Vasilievich Sredin died on April 19, 1985 after a serious illness at the age of 79.
On February 11, 1997, a memorial evening took place in the hall of the regional museum, on this day Dmitry Vasilyevich would have turned 90 years old. Former party colleagues, heads of organizations and enterprises arrived.
Sergei Stepanovich Zhilin, the former director of the Semyonovsky state farm, Hero of Socialist Labor, recalls Sredin as a born leader and charming companion. Dmitry Vasilyevich did not abuse his power, he was guided by the slogan "cadres decide everything." People responded with selfless work to care, attention, and things in the area went uphill. With his direct participation, highly productive black-and-white cattle appeared in the region, livestock complexes, social and cultural institutions - comfortable residential buildings, kindergartens - began to be built.
Nadezhda Andreevna Perminova, chief zootechnician of the production department, noted that it was interesting, although difficult, to work with D.V. Sredny as the head of the district. He was a demanding, principled person, simple to use and accessible to everyone. A simple collective farmer or leader could come to him and find understanding, asked for help and received it.
During the years of the leadership of the Sredny district, new trends entered life more and more confidently. We adopted the best management experience from our neighbors, in other regions, even abroad. Work on soil fertility improved, organic matter began to be introduced, and as a result of this, the yield gradually increased and the fodder base was strengthened.
Former director of "Prigorodny forestry" B.V. Baikov remembered how Dmitry Vasilyevich skillfully worked with people, shore personnel. Listening to his comments, over thirty-odd years of being a director at a forestry enterprise, he did not fire a single worker for any misconduct, he always tried to influence feelings and conscience. At any meeting of the collective there were representatives from the district committee of the party. In such an atmosphere of attention, it was impossible to work badly.
Egoshina L.I., who worked as the head of the regional seed inspection, noticed that Dmitry Vasilyevich could find a common language with any person, he spoke with a child like a little one, with an old man - respectfully and respectfully. An amazingly human person. He lived simply, modestly, without frills.
Dmitry Vasilyevich Sredin, worked for the good of the people, his activities were aimed at the prosperity of the region, therefore he managed to leave behind many memories, permeated with a respectful attitude towards him and his active work.
note in the newspaper Vesti, March 1, 2019
st. D. Sredin, photo by E.E. Vaseneva
st. D. Sredin, photo by E.E. Vaseneva
Used sources:
- Born in the forty-third [Text]: to the 55th anniversary of the Medvedevsky region of the Republic of Mari El: [collection] / ch. ed. Z. N. Odintsova. - Yoshkar-Ola: Mari El periodicals, 1998 .-- 350 p.
- Chronicle of the district in the affairs of the deputies [Text]: a collection of documents and materials / Administration of the municipal formation "Medvedevsky municipal district"; under total. ed. D. G. Shagiakhmetov. - Medvedevo, 2006 .-- 255 p. : ill.
- Dmitry Vasilievich Sredin [Text]: [obituary] // Mariyskaya Pravda. - 1985 .-- April 20.
In August 2017, Dmitry Sredin was appointed to the position of Head of the Large Companies Division, Corporate Client Service and Investment Banking Directorate of Raiffeisenbank. During his tenure at Raiffeisenbank, he has come to Novosibirsk for the second time. At a meeting with KS, Dmitry spoke about the main results of the past year, the role of Siberia in the bank's business, and whether significant changes in work with clients should be expected in the near future.
Dmitry, if you sum up the results of 2017, what banking products are in the highest demand for business now? How have preferences changed over the past 2-3 years and why?
The banking business is difficult to compare with retail goods. Basic financial products are always in demand: loans, deposits, settlement and cash services, letters of credit, as well as leasing and factoring instruments. So there is no clear leader. If we talk about changes, we managed to significantly increase our business in 2017, and we are setting ambitious plans for 2018-2019.
There are plans to increase the volume of business in the region by about a third. In the RC "Siberian" in the first nine months of 2017, liabilities in the corporate block increased by 50% compared to the same period in 2016 - up to 4.8 billion rubles. In addition, in 2017, leasing and factoring can be distinguished, which made a major breakthrough. We are very optimistic about the development of these areas in the next year and allocate a large amount of resources for their development. As part of my visit to Novosibirsk, several meetings were held with large companies, and they showed interest in partnerships in these areas.
In recent years, many banks have sought to transform their business model towards increasing revenues from non-credit products. Do you share this approach, and if so, what steps are you taking in this direction?
This approach has always been close to us - to invest in new technologies and digitalization. We would like to see revenues from non-credit products exceed 50% of total revenues by 2019. Already now, in terms of risk-free income, the Siberian branch has shown itself well among other branches.
Of course, the traditional and fundamental banking product, which is in stable demand, is a loan. However, the ideal model for the development of a bank implies minimizing income from credit products and maximizing from non-credit, that is, risk-free. In this matter, it is important to look for solutions that involve the use of all banking opportunities. Building work with each company on the basis of this approach, the bank works as a single team. We have a fairly flat organizational structure, and the same flat structure in teams. Such a system is designed to provide an opportunity at any time to find the very solution that a particular business needs, regardless of whether it is a loan or a leased asset or a merger and acquisition transaction.
- What are the main features of your work model?
Today there is no task to increase volumes, to chase market share for the sake of quantitative indicators. The return on invested capital in 2017 was a record one. For example, we can cite the indicators of the Siberian region.
The profit of the Siberian hub in the first nine months of 2017 increased by 65% compared to the same period last year and amounted to 671.5 million rubles. We must maximize returns for every dollar or ruble invested by our shareholders. This is the most important thing for us. Therefore, we carefully observe how and for what products we work in each specific case and how the pricing is built. At the same time, it is important to proceed from the win-win principle: so that all parties have a mutually beneficial interest.
- Have the principles of the bank's credit policy changed, as well as the approaches to the assessment of borrowing companies?
The credit policy has not changed, it is quite conservative in our country, and in some cases it is even more conservative than that of many other banks. This allows you to accurately monitor and assess the risks of the bank, not allowing even a hint of possible difficulties. We all know that over the past year, several systemically important banks have experienced financial difficulties. Our main goal is to minimize bad loans. Naturally, with a positive credit decision and the direct issuance of a loan, it is good. Unfortunately, we cannot predict 100% how further events will develop in terms of the quality of debt service. Therefore, we use all the tools that we have to assess all the risks and make sure that the loan is repaid. This year we have record low loan reserves - this is also an indicator of the quality of the loan portfolio. We do not expect any changes in our credit policy in the near term.
Does Siberia have regional specificity from the point of view of your business, or is everything in line with all-Russian trends?
Raiffeisenbank has six regional centers, in addition to Moscow, and Siberia is now in the lead. In terms of efficiency and revenue, it is one of the most sustainable hubs. The region is very large and the cities are located at a great distance from each other. For example, one of the significant cities of the Siberian Regional Center is Irkutsk. This is the extreme point for the presence of our corporate business on the territory of the Russian Federation, where a large number of promising resource-oriented export-oriented and domestic consumption-oriented companies are concentrated. Moreover, business growth rates in our remote regions often exceed the national average. The Kuzbass market is traditionally active. Work with companies in the coal, chemical and metallurgical industries has been developing for a long time and productively.
In Novosibirsk, we also managed to implement several landmark transactions to finance investment projects. This suggests that business in the region is developing. In general, Siberia has traditionally strong mining industries, pharmaceuticals and energy.
- What role does Siberia play in Raiffeisenbank's business in terms of the corporate sector?
During my work at Raiffeisenbank, that is, since August 2017, I have come to the Siberian region for the third time. For me, as the head of the department dealing with the largest clients of the bank, this is a very important region, because there are very significant clients here. Answering your question: the region is one of the priorities for us.
- Which companies in the region do you consider the most promising for cooperation today?
There is no clear overweight in our loan portfolio, and it is very similar to the structure of the Russian economy. There are oil and gas and metallurgical companies, retail trade, agricultural producers and other industries.
- What are your management's plans for 2018?
We are not planning any major changes. We had several organizational changes in the second half of last year - the team significantly strengthened, preparing for the growth of corporate business. Now the main challenge is to work as efficiently as in 2017.
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