The emergence of a new superbank on the Russian market is very likely. To that there are all preconditions. But in what format? Both Sberbank and VTB have already tested state reliability, Tinkoff has polished the technological platform, but not all professional legal niches have been worked out. Rosbank (Societe Generale) decided to break into the debt collection market. Why? We will answer further.
Modestly, with inherent intelligence, enveloping with exquisite aromas and captivating with aesthetic pronunciation, practically without knocking, not loudly, bowing, entered the Russian banking market in 1993.
For a long time he stood at the threshold, trying to delicately introduce himself. I tried to pick up a name that was not given by birth, but such that the Russian would like it, so that they would not distort and nicknames with labels would not be hung. So he lifted the top hat, saying: “Sorry, allow me to introduce myself, Monsieur “Independence” * in person.”
And the infant banking market of the then Russia rejoiced at the arrival of such a noble uncle.
But it was impossible to be “Independence” in those “native” 90s, too deliberately and defiantly. “Looking” into the distance could not pass by and came to his own uncle Vova … until Potanin said: “Who are you? How will you be, father?” And Monsieur “Independence” answered: “So, it seems like we are from here … And according to the priests of the Société Générale …”.
Uncle Vova scratched his head, and he lured the Russian Frenchman with an overseas bill, and a long ruble. He dubbed it “Rosbank”, and in the year 2003 they got married and married to OVK (Capital Savings Bank) with a dowry of 200 million US dollars.
And Rosbank lived happily, to the delight of the Russians and to their own benefit, growing with daughters, sons-in-law, and matchmakers.
And today: “Rosbank serves more than 4 million customers in 70 regions of Russia. The bank’s network includes about 320 branches and more than 38,000 partner network ATMs, including 1,800 of its own. Rosbank is included by the Bank of Russia in the list of 11 systemically important credit institutions… Rosbank was assigned the highest credit ratings of the national agencies ACRA at the AAA (RU) level and Expert RA at the ruААА level.”
But indeed, the history of the formation and development of the Public Joint Stock Company ROSBANK could become an example for participants in the Russian credit and financial system. There are practically no scandals and gossip around the bank and its owners. In addition to the Capital, the bank is represented in Nizhny Novgorod, Rostov-on-Don, Yekaterinburg and even in Krasnoyarsk and Vladivostok.
From open sources and data from the Central Bank, among the owners of the bank is Societe Generale SA (Societe Generale S.A.) with a share of 99.968861%, i.e. almost a single owner. However, the Central Bank explains that “Information about the ultimate owners is not provided (missing)”.
The bank is active in the market, providing services to various players. The “Report on financial results for the nine months of 2021” states that ROSBANK has preferences in serving individuals.
Here are some figures for loans granted, for comparison:
– financial authorities of the constituent entities of the Russian Federation and local governments – 130.4 billion rubles.
– commercial organizations that are in federal ownership – 145.3 billion rubles.
– non-state commercial organizations – 7.7 trillion. rub.
– individual entrepreneurs – 195.7 billion rubles.
– citizens (individuals) – 39.2 trillion. rub.
There is a clear advantage in favor of the citizens. Remember this figure, then you will understand why.
Well, and one more indicator, for clarity. Aggregate financial result. Profit after tax, taking into account changes in other comprehensive income – 17.6 trillion. rub.
And they are all good. It would seem, live and rejoice. By no means!
Against the backdrop of sanctions against Russia, adjustments are also taking place in the activities of banks with foreign capital. So in 2021, Citibank and Morgan Stanley decided to reduce their presence in Russia.
Citigroup announced in its January-March 2021 financial report that it has decided to close its retail banking business and exit the Russian market altogether.
And Morgan Stanley Investment Bank began to curtail its activities back in 2019:
“The Group plans to relinquish its banking, brokerage and depositary licenses and voluntarily liquidate the relevant business units,” the company said in its annual report.
However, Frederic Oudea, who is the CEO of the French financial group Societe Generale – the presence in Russia is indicated by Rosbank – told RBC back in June 2021 that his representative office was “committed to the Russian market.”
Moreover, Rosbank behaved, to put it mildly, not typical. He became a pioneer in providing this kind of service.
As Kommersant writes:
“Rosbank has begun to actively offer third-party credit organizations services for collecting debts of individuals … Banks should not be registered as a professional collector in the special register, even if they work with other people’s debts, which gives them certain advantages over collectors, which are supervised by the Federal Bailiff Service ( FSSP)”
Having an impressive loan portfolio of individuals – remember the figure above – Rosbank has gained a lot of experience not only in its current servicing, but also, as a result, in solving problematic tasks with borrowers.
In addition, until 2012, Rosbank had at its disposal a subsidiary collection agency, AVD, which, in the process of reorganizing assets, was sold to the Capital Collection Agency (SKA). For the year, the sale of AED was accompanied by 300 thousand loans with a total debt of 91 billion rubles.
All these data, in figures and opinions, indicate that Rosbank is able to implement its “know-how” qualitatively. Although experts doubt the good intentions of such activities, considering this initiative to be a whim of individual players.
According to the speakers of “Kommersant”:
“… this is rather a negative point: the collection community may consider such behavior as unfair competition, apply to the Central Bank to verify the compliance of the bank’s activities with banking legislation, as well as to the antimonopoly authority.”
But there is an opinion that Rosbank has a clear advantage, which is a sin not to use. After all, a bank, not being a professional collector, is not required to be included in the register of the Federal Bailiff Service (FSSP), respectively, does not fall under the jurisdiction of this service, excluding the possibility of checking its activities by the FSSP.
How does this approach threaten an ordinary debtor? In our opinion, an objective approach to solving the problem. I would like to think that when restructuring a debt or forming a procedure for its repayment, a third party will try to impartially take into account all the circumstances, including the position of the creditor himself.
