Bank zenith. Stability and reliability of the bank. financial analysis of the bank bank zenith bank zenith reliability

Key positive impact on rating assessment provided systematic provision of financial support from the key shareholder - PJSC Tatneft - and a high probability of further support of the bank from shareholders in the medium term if the need arises. In addition, the agency notes the bank’s good competitive position in banking market(as of November 1, 2017, the bank ranks 37th in terms of assets in the Russian Federation) and the wide geography of its activities (8 branches in 6 federal districts and more than 70 others structural divisions). Low concentration had a positive impact on the rating active operations on objects of large credit risk (as of November 1, 2017, large credit risks to net assets amounted to about 25%), an acceptable balance of assets and liabilities in the short term and a high level of coverage by net interest and commission income of expenses associated with supporting activities (231% for the third quarter of 2017). Additionally, a high level of security of the loan portfolio of legal entities, individual entrepreneurs and individuals is noted (as of November 1, 2017, the coverage of the loan portfolio with collateral, taking into account the pledge of securities, sureties and guarantees, was more than 860%, without taking into account - exceeded 240%) and the presence of a positive public credit history.

The main negative impact on the rating was the unprofitability of the bank's activities (according to RAS, ROE for profit after tax for the period from 10/01/16 to 10/01/17 was minus 5%; ROA - minus 1%) combined with a low level of net interest margin (for the period from From 10/01/2016 to 10/01/2017, the net interest margin was 2.3%). In addition, the agency’s analysts note the low quality of the bank’s loan portfolio (as of November 1, 2017, more than 25% of the total loan portfolio falls on loans of III-V k.k.; about 26% of the loan portfolio of legal entities, individual entrepreneurs and individuals is represented by debt restructured without reduction quality category; requirements for receiving interest amounted to about 5% of gross assets), however, they allow for restrained dynamics of these indicators in the medium term due to the expected repurchase of part of the problem assets at the expense of the main shareholder in the short term. The stable rating outlook is based on the assumption that the period of business transformation, as a result of which the bank will no longer need support from beneficiaries, will largely be completed before the end of 2018, which will be reflected in the strengthening of its independent risk profile. Over the medium-term time horizon, the agency plans to weaken the influence of the significance of the main owner's support from strong to moderate, which, in the absence of positive changes in profitability and growth in the quality of loan debt (including through business expansion), may lead to a downgrade of the rating.

Among the negative factors, the agency highlights the high dependence of the long-term liquidity ratio on the stability of funds in client accounts (as of November 1, 2017, N4 excluding O* amounted to more than 147%) and the investment nature loan portfolio, making it difficult to predict its default given the lack of macroeconomic stability (the weighted average maturity of the 30 largest loans to legal entities and individual entrepreneurs, taking into account changes in the repayment period according to Form 117, was about 7 years; about 48% of the balance of legal entities loans as of 06/30/17 falls on project financing, according to IFRS Banking Group for the 1st half of 2017). In addition, operational risks associated with the expected transition to a new ABS have a restraining effect on the rating.

– a very relevant topic for clients of this financial institution. In the wake of rumors about the revocation of the license and other problems of the organization, people are trying to get more full information about its prospects. In the article we will highlight important questions about the current state of affairs.

“Zenit” is quite large even by Russian standards financial institution. It has subsidiaries: since September 2018, this banking group began the procedure for the gradual integration of its subsidiaries. According to the results, in three years the association should include Devon-Credit, Lipetskkombank, Spiritbank and Zenit Sochi Bank.

The financial organization began operating in 1994. A year later, she received a license to operate from.

Important! At the moment, Zenit Bank is a licensed institution, and this situation is not considered subject to any changes.

Note 1. Information regarding licensing can be found on the organization’s official website. Look .

In terms of its financial indicators, the company has positive development trends (read about this below).

If we talk about the bank’s prospects, then we can note its stable position in the domestic Russian market, even despite quite serious competition. The fact that Zenit continues to progress despite the obvious popularity of such colossi as Sberbank, Alfa-Bank, Gazprombank, Raiffeisenbank, etc., speaks of good financial potential.

Rating and financial indicators of Zenit Bank

Today, the characteristics of the bank’s activities boil down to the following data:

• assets amount to 233 billion rubles;
• loan portfolio – 130 billion rubles;
• overdue debentures(in the loan portfolio) – 3 billion rubles;
• the total volume of deposits of individuals is 64 billion rubles.

• forecast – stable;
• issuer default rating V foreign currency for the long term– BB;
• issuer default rating V national currency for the long term– BB;
• issuer default rating in foreign currency for the short term– B;
• support indicator – 3;
• stability indicator – b+.

Note 3. Explanation: BB – creditworthiness is at a level below sufficient, B – creditworthiness is at a significantly insufficient level.

Another agency, Expert RA, assigned a rating of ruA- (stable).

Current Issues and Latest News

Even the above rating indicators indicate that Zenit is not doing as smoothly as its clients would like. However, here you need to understand: this data is not updated every day - it takes some time before it is revised.

The bank has had some difficulties in the recent past. More precisely - in the period from 09.2017 to autumn 2018 there were signs of negative profitability. This became the basis for rumors about the revocation of the license by the Central Bank.

Of course, when such information hit the media, depositors - and especially individuals - hastened to withdraw their deposits. The inhabitants feared the non-return of their savings.

We have already said above that now Zenit license is out of danger, and there are no plans to withdraw it.

All existing problems have been resolved or are being actively resolved thanks to the intervention of the Bank of Russia and the attraction of investments. It's on this moment excludes the topic of closing Zenit.

Important! A certain strength of the organization is also explained by the fact that this is not a single company, but a banking group. In addition, the shareholder is Russia's largest oil producer Tatneft, which receives support from the state company.

Since February 2018, Zenit Bank has demonstrated net positive profit. This already indicates the improvement of the institution.

Important! Information on the financial status of commercial banks is publicly available on the website of the Central Bank and the Internet resources of the financial institutions themselves.

In addition to official sources, you can use the portal www.banki.ru:

To conclude the topic, let's talk about general situation Zenith affairs.

Current status of the organization

Although the bank's status is stable, there is evidence of impending changes. In particular, information appeared about Tatneft's intention to sell Zenit. However, this does not mean that the situation is bad: main reason for possible sale– desire to get rid of a non-core institution. Tatneft is an oil producing company and banking business she has no relation.

The second reason– growth of the loan portfolio. But this is not so much a question of the inefficiency of the bank itself, but rather a question of a decline in the standard of living of the country's citizens.

Note 4. Tatneft owns 71% of Zenit shares.

Other problems besides possible change The financial institution currently does not have a shareholder. It is also important to note that during the inspection carried out by the Central Bank, no violations in the company’s activities were identified either.

Reliability issues in 2019 were mostly determined by positive bank development statistics.

Conclusion

Zenit Bank had certain problems, but rumors about the revocation of its license now have nothing to do with reality. The main problems that have been acute in recent times have been solved. Doubt reliability banking organization no need to.

In contact with

The Zenith bank reliability rating is of interest to clients of this financial institution. organizations. This is a well-known institution that issues loans to millions of citizens of the Russian Federation. The structure has many compartments and ATM devices. Her financial security, as well as the rating for 2020 are discussed below.

Zenit is a Russian financial company. structure including affiliated companies and small commercial banks.

Financial assets organizations amount to 213 billion rubles. Let's take a closer look at the data:

• total turnover amounted to 671 billion rubles;
• briefcase borrowed money- 129 billion rubles;
• loan debt - 3 billion rubles;
• amount of individual deposits persons – 67 billion rubles.

According to the data presented, we can conclude that the company is stable, despite active competition. The stability of the organization is associated with a large number of offices throughout the country. Branches of the institution are present in each big city Russia.

The versatility of the company lies in the number of services provided for both individuals and legal entities. persons

Important! Fin. Organizational indicators are in the public domain, open to everyone. She is located at the office. Website of the Central Bank, at the office. Zenit website and websitebanki.ru. You can check it out at any time.

Zenit bank credit rating

The place of the bank is zenith in the ranking of banks: according to indicators, the institution is in 41st place. It has risen one step higher compared to the previous period. RA "Expert" assigned the organization the status of "stable" and noted its moderately high level of creditworthiness.

International agencies noted the positive dynamics of the rating of Zenit Bank. Among them:

1. Moody's noted the relatively low vulnerability of the financial sector. structures. A positive prognosis was assessed.
2. Fitch has given the institution a "B" rating in the short term. The forecast states “stability”.

Existing problems of the bank at the moment

Over the past period, the organization has accumulated problems. Since September 1, 2017, the organization has shown exclusively negative dynamics. Thus, opinions have emerged that the Finnish license. structures will be recalled.

If this information were leaked to the media, it would have a negative impact on the company's reputation. Depositors would begin to close deposits, fearing the liquidation of the organization. However, today the information is considered false. Official information about the revocation of the license has not been provided.

Existing problems can be easily resolved by contacting the Central Bank of the Russian Federation. Also, you can attract investors, thereby improving the situation. It is worth considering that Zenit is not one bank, but a whole group of institutions, represented by a number of commercial structures. Its shares belong to Tatneft. She, in turn, is protected and supported by the state.

Not very represented in January 2020 good performance profitability of the company. So, at the beginning of the period, losses amounted to over 2 billion. However, by February the situation had stabilized and positive dynamics were already present. According to experts, the likelihood that the license will be revoked is zero.

Bank's position today

As of today, there can be no talk of revoking the license. The organization's clients do not have to worry about their savings and loans. However, there is information in the media that the company will soon undergo some changes.

Thus, Tatneft wants to sell the financial institution. Experienced specialists involved in pre-sale preparation will be involved. Please note that Finnish The organization owns 71% of the securities.

The institution is being sold in order to get rid of a non-core organization, since Tatneft produces and refines oil. Accordingly, it has nothing to do with the financial sector.

Due to the deterioration in people's living standards, the loan portfolio increased, hence problems arose with the sale of the institution. However, such dynamics are observed in almost all financial markets. structures.

Accordingly, selling is the only problem today. Therefore, the immediate task facing organizational leaders is to reduce credit debt and increase your attractiveness to potential buyers.

The problem, discovered at the beginning of the year, was resolved through rehabilitation. The Central Bank checked the institution and found no serious deviations. Measures to stabilize the dynamics brought positive results.

However, for this year the number of depositors decreased by more than 1%. The trend must be changed, otherwise it will have an extremely negative impact on the financial sector. indicators.

According to the data provided, the bank can be recommended to clients as stable and reliable. Therefore, you can safely start or continue cooperation with him. Problems that existed several months ago were resolved quickly and effectively. There is no point in doubting the reliability of the company at this time. The fact that the organization is being sold will not affect current clients in any way.

Here are the statistics on negative factors:

• indicators indicating the unreliability of the structure - 1;
• indicators indicating its instability - 6.

Date of credit report 26.08.2019

1. Full name of the issuer

Reg. number: 3255

Main components:

3. SWOT analysis

• PJSC Bank ZENIT is average Russian bank(39th place in terms of assets and 31st place in equity capital as of 07/01/2019).
• The bank has a developed network: 5 branches, 41 additional offices, 17 operational offices, 53 operations. cash register outside the cash register.
• Reserve according to capital adequacy standards (N1.0 = 15.304%, N1.1 = 10.622% as of 07/01/2019 with thresholds of 8% and 4.5%, respectively).

• Unstable financial results - the bank recorded losses for 3 years in a row - for 2015, 2016 and 2017.
• The long-term nature of the loan portfolio is about 14.35% of corporate loans according to IFRS as of 03/31/19. accounts for project financing, 16.24% - mortgage loans.
• A significant share of deposits of individuals in attracted funds from clients (44.12% of raised funds according to RAS as of 07/01/2019) creates a potential threat to liquidity, due to the possibility of early recovery provided for by law (the threat is partially offset by a significant share of balances less than the insured amount of the Civil Code " DIA").

4. Ownership structure

Major shareholders:

3.4007% (3.4274%) - Nabertherm Limited, Rosemead Enterprises Limited (M.A. Sokolova, A.V. Sokolov, T.P. Shishkina through a number of companies);

5.75% (5.79%) - Tishchenko Alexander Sergeevich;

4.4999% (4.5353%) - Vitaly Vyacheslavovich Lipanov;

3.44% (3.46%) - VIEWCOM FINANCE LIMITED, Cyprus (controlled by M.A. Sokolova);

3.41% (3.43%) - Gatehill Limited (controlled by T.P. Shishkina);

3,4007% (3,4274%) -

3.09% (3.12%) - DANIKOM LLC (controlled by M.A. Sokolova, T.P. Shishkina);

1.25% (1.26%) - Sokolova Maria Alexandrovna;

0.0577% (0.0582%) - Shishkina Tatyana Petrovana;

0.0447% (0.04507%) - Nail Ulfatovich Maganov;

0.5416% (0.546%) - minority shareholders.

0.7792% (-) - own shares transferred into ownership credit organization.

71.1737% is controlled by the PJSC Tatneft Group. The Group does not have a main controlling shareholder (according to the Bank, 63.451% of the company's shares are in public circulation). The Government of the Republic of Tatarstan controls approximately 36% of the Group's voting shares.

Bank statements as of July 1, 2019 (billion rubles, changes for 6 months) according to RAS.

Capital 34.075 billion rubles. (-3.280 billion rubles) according to form 123.

Assets - 219.257 billion rubles. (-31.010 billion rubles)

10.603 billion rubles. (-3.906 billion rubles.) - cash register and correspondent accounts.

35.279 billion rubles. (-19.699 billion rubles.) - attachmentsVvaluablepaper.

4.294 billion rubles. (-3.894 billion rubles.) - interbank loans.

98.988 billion rubles. loanslegalpersons. (-11.951 billion rubles), including balance sheet overdue debt - 4.104 billion rubles (+1.676 billion rubles) or 4.15%.

31.145 billion rubles. loansphysicalpersons. (+0.427 billion rub.), including balance sheet overdue debt - 1.463 billion rubles (+0.025 billion rubles) or 4.7%.

RUB 2.048 billion.(+0.172 billion rub.)- property (fixed assets, capital investments and so on.)

Liabilities:

44.398 billion rubles. (+0.657 billion rubles) - .

49.026 billion rubles. (-6.291 billion rub.) - legal means. persons

78.460 billion rubles. (-0.707 billion rub.) - contributions from individuals. persons

13.586 billion rubles. (+1.150 billion rub.) - formed reserves.

Profit/loss (according to RAS):

For 6 months of 2019 - net profit+1.517 billion rub. For 2018, profit +0.178 billion rubles. (For 2017, the loss was -2.366 billion rubles).

Loans to individuals

Composition of liabilities

Involved funds

	ASSETS	01.07.2019	01.04.2019	01.01.2019	01.10.2018	01.07.2018
	Funds in accounts with the Bank of Russia
	Funds in accounts with credit institutions
	Availability	10 602 823	18 400 309	14 075 003	15 777 586	14 509 146
1.2.1.3.7.		4 104 234	3 919 811	3 283 276	2 970 026	2 427 850
	Loans to individuals
1.2.1.4.7.	incl. Overdue debton personal loans	1 463 309	1 375 713	1 380 864	1 337 538	1 447 662
	Requirements for letters of credit
	Other loans
	Loan debt	146 664 578	144 997 706	160 336 689	159 305 968	154 878 437
	Financial assets	45 920 510	64 154 694	62 367 496	55 403 231	55 884 370
	Funds in settlements
	Accounts receivable	4 127 474	4 835 122	4 262 128	4 118 368	1 750 335
		13 809 288	13 678 666	12 145 393	12 622 413	14 216 932
	Property	2 055 811	1 830 879	1 808 010	1 502 892	1 320 711
	Other assets	-2 222 306	-418 938	9 047 407	8 761 996	8 311 241
	Total ASSETS	221 137 654	247 514 895	264 106 885	257 515 183	250 896 928
	LIABILITIES
	Authorized capital
	Extra capital
	Retained earnings from previous years (uncovered losses from previous years)
	Unused profit (loss) for reporting period
	Other revaluation and reserve fund
		25 374 551	24 471 336	31 216 156	31 622 889	31 485 546
	Provision for possible losses	14 843 638	14 475 988	18 640 002	18 187 361	18 698 680
	Funds from credit institutions
	Legal funds persons
	Involved funds	177 859 886	204 848 758	211 666 921	206 092 851	197 782 016
	Other obligations	3 041 722	3 563 241	2 470 359	1 612 082	2 913 249
	Total LIABILITIES	221 137 654	247 514 895	264 106 885	257 515 183	250 896 928
	OFF-BALANCE
	Securities
	Property
		268 316 068	285 494 051	275 908 558	281 734 722	291 514 931
	Contingent liabilities	59 961 373	54 445 142	56 698 734	56 473 380	53 603 696

Subsidiaries and related companies

Also, the Bank owns 100% of the capital of ZENIT Finance LLC, 100% of the capital of Zenit Investment Service Inc., a company registered in the British Virgin Islands, 100% of the capital of ZENIT FINANCE LLC (carrying out a factoring business), 100% of the capital of ZENIT Leasing LLC, 100% of the capital of ZENIT FACTORING SME LLC (carrying out factoring business).

Structure of the Group’s loan portfolio according to IFRS (as of March 31, 2019)

Customer funds (by type) in liabilities according to IFRS (as of 03/31/2019)

Appendix 8.

Rating moneyzzz(together with @riskovik) :

• A - No restrictions - High level reliability
• B - Restrictions within the DIA - Average level reliability
• C - Do not post - Low level reliability

https://www.moex.com/ru/listing/free-float.aspx

Previous conclusion

Date of credit report 07.11.2018
Recommendations are valid for 1 year

1. Full name of the issuer

Bank ZENIT (public joint-stock company)

Reg. number: 3255

The table shows the final rating.

Main components:

• The bank's own rating in a stable situation is B.
• The bank's stress rating is C.
• The expected level of support is high.

Based on the results of the risk assessment, we recommend carrying out placement operations Money V financial instruments Bank within the limits of the insured amount of the DIA Group - 1.4 million rubles.

3. SWOT analysis

Key positive points:

• PJSC Bank ZENIT is an average Russian bank (40th place in terms of assets and 32nd place in equity capital as of 10/01/2018).
• The bank has a developed network: 5 branches, 18 additional offices, 18 operational offices, 51 operations. cash desk outside the cash desk, 1 credit and cash office.
• Reserve according to capital adequacy standards (N1.0 = 16.199%, N1.1 = 11.297% as of 10/01/2018 with thresholds of 8% and 4.5%, respectively).
• There is a high probability of support for the Bank from the main shareholder - PJSC Tatneft.

Key negative points:

• Unstable financial results - the bank recorded losses for 3 years in a row - for 2015, 2016 and 2017, and only in 2018 showed positive financial results for 9 months.
• Low quality of the loan portfolio - more than 25% of the loan portfolio falls on loans III-V k.k.
• The long-term nature of the loan portfolio - the weighted average maturity of the 30 largest loans to legal entities and individual entrepreneurs, taking into account changes in the repayment period according to Form 117, was about 7 years; about 31.13% of corporate loans according to IFRS as of 07/01/18. accounts for project financing.
• Significant share of short-term balances on clients' current accounts legal entities(15.7% of raised funds) and funds of credit institutions (31.56%) with a high concentration of funding, as well as a significant share of individual deposits in raised customer funds (34.6%) creates a potential threat to liquidity.

4. Ownership structure

• 63.67% - share of shares with voting rights (63.16% - share in actual ownership) - PJSC Tatneft named after. V.D. Shashina;
• 8.45% (8.52%) - Tatneft Oil AG (controlled by PJSC Tatneft named after V.D. Shashin);
• 6.01% (6.06%) - Nabertherm Limited, Rosemead Enterprises Limited (controlled by M.A. Sokolova, A.V. Sokolov, A.A. Sokolov, T.P. Shishkina, T.A. Zanozina) ;
• 5.75% (5.79%) - Fletcher Group Holdings Limited, Cyprus (controlled by V.S. Lisin, Yu.V. Lisin);
• 3.44% (3.46%) - VIEWCOM FINANCE LIMITED, Cyprus (controlled by M.A. Sokolova)
• 3.41% (3.43%) - Gatehill Limited (controlled by T.P. Shishkina)
• 3.09% (3.12%) - DANIKOM LLC (controlled by M.A. Sokolova, T.P. Shishkina).
• 3.54% (2.80%) - shareholders - minority shareholders

4.1. Primary ultimate beneficiary

72.12% is controlled by the PJSC Tatneft Group. The Group does not have a main controlling shareholder. The Government of the Republic of Tatarstan controls approximately 36% of the Group's voting shares.

The Government of Tatarstan is also the holder of the “golden share”, which gives it the right to appoint one representative to the Board of Directors and one representative to the Audit Commission of the Company, as well as to veto certain important decisions, including decisions regarding changes in share capital, amendments to the Charter, liquidation or reorganization of the Company, as well as approval in relation to “major” transactions and “interested party transactions”.

4.2. Probability of shareholder support in case of crisis

The likelihood of support for the Bank from the main shareholder (Tatneft PJSC Group) is assessed as high.

5. Analysis of key financial indicators

Bank reporting as of 10/01/2018 (billion rubles, changes for 9 months) according to RAS (data and interpretations according to IFRS for 2017 and the 1st half of 2018 are also used).

Capital - 36.870 billion rubles. (-3.627 billion rubles)123 eachform.

Assets - 256.851 billion rubles. (+13.369 billion rubles), including:

15.778 billion rubles. (+2.806 billion rubles.) - cash register and correspondent accounts.

54.349 billion rubles. (-1.982 billion rubles) -attachmentsVvaluablepaper.

15.712 billion rubles.(+6.411 billion rubles) - interbank loans.

104.578 billion rubles. loanslegalpersons including balance sheet overdue debt - 2.970 billion rubles. (2.84%).

As at 30 June 2018, the aggregate amount of loans before impairment provisions issued to the 22 largest borrowers, individually exceeding 5% of the Group’s capital, amounted to RUR 61,593,885 thousand, or 35.6% of total amount loans and advances to customers.

As of January 1, 2018, according to IFRS reporting, the share of loans with overdue payments of more than 30 days and impaired, restructured and requiring increased control was 3.95%.

31.961 billion rubles. loansphysicalpersons including balance sheet overdue debt - 1.338 billion rubles. (4.19%). As of July 1, 2017, according to IFRS reporting, the share of loans with overdue payments of more than 30 days and impaired, restructured and requiring increased control was 7.13%.

1.464 billion rubles.(+0.238 billion rubles) - property (fixed assets, capital investments, etc.).

Liabilities:

66.185 billion rubles. (+16.674 billion rubles.) - legal means. persons

As at 30 June 2018, customer accounts under IFRS included balances of 19 customers, individually exceeding 5% of the Group's equity. The total balance of funds of such clients amounted to RUB 56,051,626 thousand, or 31.5% of the total amount of client funds.

62.986 billion rubles. (+10.877 billion rubles)- funds from credit institutions

As of June 30, 2018, under IFRS, due to other banks included balances of the Central Bank of the Russian Federation exceeding 5% of the Group’s capital in the amount of RUB 4,436,896 thousand, or 16.1% of the total amount due to other banks.

As of June 30, 2018, under IFRS, due to other banks included balances of three Russian banks with a rating of at least Ba3 (Moody's), individually exceeding 5% of the Group's capital, in the amount of RUB 11,457,046 thousand, or 41.5% of the total amounts of funds from other banks.

71.237 billion rubles. (+0.365 billion rub.) - contributions from individuals. persons

17.528 billion rubles. (+1.658 billion rub.) - formed reserves.

Profit/loss (according to RAS):

Net profit for 9 months of 2018 - 0.658 billion rubles. For 2017, the loss was -2.366 billion rubles. (For 2016 - loss -7.443 billion rubles, for 2015 - loss -6.051 billion rubles).

Information on the quality of loans to legal entities as of 01/01/2018

Appendix 4. Dynamics of the composition of liabilities (including raised funds) and profitability indicators.

Composition of liabilities

Involved funds

Appendix 5. Main indicators according to RAS, thousand rubles.

	ASSETS	01.10.2018	01.07.2018	01.04.2018	01.01.2018	01.10.2017
	Availability	15 777 586	14 509 146	10 332 069	12 971 449	26 603 126
	Interbank loans (deposits) provided (placed)
	Loans to the Ministry of Finance, constituent entities of the Russian Federation and authorities local government
	Legal loans individuals and individual entrepreneurs
1.2.1.3.7.	incl. Overdue debt on loans to legal entities and individual entrepreneurs	2 970 026	2 427 850	1 762 369	1 679 731	8 869 259
	Loans to individuals
1.2.1.4.7.	incl. Overdue debt on personal loans	1 337 538	1 447 662	1 388 740	1 260 824	1 249 470
	Requirements for letters of credit
	Drag. metals provided
	Other loans
	Investments in financial lease (leasing) operations and acquired rights of claim
	Loan debt	159 305 968	154 878 437	140 173 749	145 328 542	164 266 491
	Financial assets	55 403 231	55 884 370	54 502 968	56 331 592	43 096 217
	Funds in settlements
	Accounts receivable	4 118 368	1 750 335	2 131 736	2 215 996	3 129 802
	Requirements for receiving interest	12 622 413	14 216 932	13 620 159	13 556 281	15 156 865
	Business reputation
	Property	1 502 892	1 320 711	1 285 377	1 236 898	1 657 723
	Other assets	8 761 996	8 311 241	10 681 011	12 076 922	13 085 824
	Total ASSETS	257 515 183	250 896 928	232 777 368	243 816 111	267 016 186
	LIABILITIES
	Sources own funds	31 622 889	31 485 546	31 432 384	33 454 589	34 630 186
	Provision for possible losses	18 187 361	18 698 680	18 580 618	16 204 562	27 634 997
	Funds from credit institutions
	Legal funds persons
	Funds from budgets, the Ministry of Finance, constituent entities of the Russian Federation and local governments
	Deposits (funds) of individuals and individual entrepreneurs
	Other borrowed funds from legal entities and individuals (including unfinished settlements)
	Debt issued
	Obligations to pay interest
	Involved funds	206 092 851	197 782 016	181 647 315	192 828 027	197 810 041
	Other obligations	1 612 082	2 913 249	1 111 402	1 122 209	6 793 809
	Financial liabilities at fair value through profit or loss
	Total LIABILITIES	257 515 183	250 896 928	232 777 368	243 816 111	267 016 186
	OFF-BALANCE
	Securities
	Property
	Precious metals
	Collateral for placed funds	281 734 722	291 514 931	308 305 520	323 211 793	377 714 110
	Issued guarantees and warranties
	Unused limits for issuing guarantees
	Non-credit contingencies
	Unused credit lines and overdraft
Contingent liabilities	56 473 380	53 603 696	48 052 054	48 522 906	49 248 826

Subsidiaries and related companies

The Group includes the following subsidiary banks:

The Bank also owns 100% of the capital of ZENIT Finance LLC (in January 2018, the reorganization procedure of Arsenal Group LLC was completed by merging with Regional Development LLC, with subsequent renaming to ZENIT Finance LLC).

The bank owns 100% of the capital of Zenit Investment Service Inc., a company registered in the British Virgin Islands.

In June 2018, the Bank acquired control of ZENIT FINANCE LLC, which carries out the factoring business.

In the second quarter of 2018, the Bank created ZENIT Leasing LLC to carry out leasing activities.

Appendix 7. Industry structure of the loan portfolio and concentration of customer funds according to IFRS

Industry structure of the Group’s loan portfolio according to IFRS (as of July 1, 2018)

Customer funds (by type) in liabilities according to IFRS (as of 07/01/2018)

Appendix 8.Dynamics of the Bank’s financial results and assets since 2008.

Dynamics of financial results (million rubles)

Dynamics of assets (million rubles) and their growth rates (year/year, %).

Appendix 9. Scheme of relationships between the bank and persons under whose control or significant influence the bank is located

Elena: Hello! Tell me, what are the chances of the Zenit group banks to stay afloat in the near future?

27th place in terms of assets.

In liabilities, 78 billion are funds of organizations, another 45 are accounted for by deposits. For both indicators, there is good growth over the year, by 16% and 19%, respectively.

The bank lends mainly to legal entities; the corporate loan portfolio exceeds 146 billion with an increase of 13% over the year. Delinquency grew more slowly, by 7%. As a result, 2.4% of corporate loans are overdue.

Increased by 33% customer credit, with a slower growth of delinquency of 9%. The portfolio of loans to individuals reached 19 billion, with an overdue rate of 2.9%.

In general, the situation with loans is controlled. Positive dynamics are visible for both packages (individuals and legal entities), both in growth and in the fight against delinquency.

Over the year, the bank increased its capital by 17%, to 33 billion. Increased investments in securities by 24%, final investment portfolio amounted to 30 billion.

Showed relatively stable profits. At the same time, in some months it dropped to small positive indicators. But this is rather the norm for current situation in economics. It's good that there were no losses.

OJSC Tatneft is the main beneficiary, owning 24.56% of the shares. Others are distributed among various individuals. Basic corporate clients Bank - oil producing and processing companies.

I didn’t find any problems in the statistics. The bank has been growing steadily throughout the year at a moderate pace, no negative news has been found recently. I think it deserves a “yellow” rating with a positive outlook.

I won’t rate it higher for now, because... the bank had problems with some borrowers in the recent past (in 2011-2012) and there was a significant “drawdown” in profits.

The bank was founded in December 1994 by the oil company Tatneft*, the Academy National economy under the government of the Russian Federation and a group of other legal entities. Registered with the Central Bank of the Russian Federation in June 1995 in the form of an LLC.

In 2002, he received a general license from the Bank of Russia and a license to work with precious metals, and also changed its organizational and legal form to an open joint-stock company.

Since December 2004, the credit institution has been participating in the deposit insurance system for individuals.

In 2005, Zenit Bank bought 90% of the shares of Devon-Credit Bank from Tatneft.

At the beginning of 2007, as part of regional development acquired 85.3% of the shares of Gazprombank's subsidiary, Sochigazprombank (now Zenit Sochi Bank).

In 2007, the Zenit banking group** was replenished by Lipetskcombank, which previously belonged to the Novolipetsk Metallurgical Plant (NLMK).

In December 2008, Tula SpiritBank also joined the group.

According to the decision general meeting shareholders at the end of 2014, the form was brought into compliance with the Civil Code of the Russian Federation and re-registered as a public joint-stock company.

In September 2019, the procedure for merging Devon-Credit Bank and Lipetskcombank into Zenit was started.

In 2019, it is planned to complete the merger of four subsidiary banks with Zenit Bank.

As of June 1, 2019, the volume of net assets of the credit institution amounted to 216.7 billion rubles, the volume of equity funds - 34.5 billion rubles. Based on the results of the first five months of 2019, the bank shows a profit of 2.1 billion rubles.

Network of divisions:
head office (Moscow);
5 branches (St. Petersburg, Rostov-on-Don, Kazan, Novosibirsk, Yekaterinburg);
53 operating cash desks outside the cash desk;
35 additional offices;
17 operational offices.

Owners:
PJSC Tatneft named after. V.D. Shashina – 71.12%;
Maria Sokolova – 8.20%;
Alexander Tishchenko – 5.75%;
Tatyana Shishkina – 4.82%;
Vitaly Lipanov – 4.50%;
Arkady Sokolov – 3.07%;
minority shareholders – 2.54%.

Board of Directors: Nail Maganov (chairman), Vladimir Borutsky, Shlomit Gruman-Navot, Vitaly Lipanov, Arkady Sokolov, Alexey Panferov, Nurislam Syubaev, Shafagat Takhautdinov, Inabat Terek, Evgeny Tikhturov, Sergey Shibaev.

Governing body: Oleg Mashtalyar (chairman), Sergey Boev, Andrey Dobrynin, Mikhail Stepanov, Dmitry Yurin, Ilya Poz.

* PJSC Tatneft is one of the largest oil companies in Russia and one of the largest public companies with market capitalization as of March 2019 - about 1.7 trillion rubles. Structures controlled by the Republic of Tatarstan own about 34% of the shares in the company’s authorized capital; 23% of shares are traded as global American depositary receipts(ADR); other shareholders own another 43% of the shares. The revenue of the Tatneft group, according to IFRS data, for the first quarter of 2019 amounted to 227.3 billion rubles. Profit for the first quarter amounted to 60.2 billion rubles; oil production by the group in the first half of 2019 amounted to 14,829 thousand tons (+3.7% compared to the first half of 2018).

** Zenit Banking Group is a large Moscow banking group with significant interests in Tatarstan. Provides a full range of banking services. Currently, the group, in addition to its core JSCB Zenit, includes four more banks: PJSC Lipetskcombank, PJSC SpiritBank, JSC Bank Zenit Sochi, PJSC AB Devon-Credit.

According to IFRS reporting for the first quarter of 2019, the group’s assets amounted to 249.4 billion rubles, capital - 24.5 billion rubles. The co-owners of the group are members of the board of directors and management; a large block of shares is owned by PJSC NK Tatneft.

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