Experts appreciated the chance to sell “daughter” of Russian banks / Photo: Ministry of Finance
The national Bank said that the banks with Russian state capital are in talks about selling. The regulator believe that it is the civilized way out of the situation around the “daughters” of Russian banks. Talk about selling them going for a year, but buyers are still not found. Gazeta.ua asked the experts how these ideas are close to realization now.
Andriy Novak, an economist:
The majority of Russian banks for another year or six months ago, announced the desire to sell its Ukrainian “daughters”. There were no buyers. Ukraine imposed sanctions to them for a year. It became clear that they normally work in the Ukrainian banking market will not. Again talking about selling. The question is, what will be the price. If none of the other banks will not be interested in, then the most rational decision for Ukraine would be to nationalize the five banks. Now they occupy about 8% of the banking market. To lose these assets makes no sense.
Parent need to get rid of assets that can not work in normal mode. These sanctions allow banks or gently withdraw from the Ukrainian market, or sell. A commercial entity is risky to buy a banking institution, which is under sanctions. Nationalize easier. The economic situation in Ukraine is not affected. Last year, a much larger institution PrivatBank became the property of the state. Everything went quiet. The Bank operates as before.
A commercial entity is risky to buy a banking institution, which is under sanctions. Easier to nationalize
For the crisis years, especially for the actual state of war, that’s fine. For investors, legal entities, this means ensuring stable operation. Their deposits and transactions guaranteed by the state budget. When the war is over, the assets will rise. Growth assets can be sold some state-owned banks. It is a normal practice.
Oleksandr Savchenko, the banker:
In Ukraine the banking business unprofitable. Russian banks are no exception, although the penalties for them are of declarative nature and their work is almost not affected. To sell the Bank and make a profit difficult. Russia will appreciate that it is more profitable: the losses at the exit from the Ukrainian market or potential impact on our financial market.
From the point of view of economic security of Ukraine best selling Russian banks. If you ignore the political and economic security, then the banking system is not affected. Account they still had state institutions. If the price is near zero – and the only way to sell the Russian banks, they can buy even Western investors. Most likely it can be Ukrainian or Russian businessmen. The Bank may purchase close to the Russian authorities and business. Then, in addition to changing the signs, nothing will change. If you buy enough associated with the authorities of the Russian Federation the businessman, the Bank may work more or less commercial.
The Bank may purchase close to the Russian authorities and business. Then, in addition to changing the signs, nothing will change
The national Bank would have to enter the standard 10 percent participation of foreign capital in the Ukrainian banking system. Banks with Russian state capital may collect information about the clients of Ukrainian banks. Theoretically there is a risk of the simultaneous closure of all Russian banks. Then we have a financial crisis.
Sergey Fursa, an investment banker:
Prominvestbank, “Wasbank” have 100 percent of public of the Russian capital. Sberbank and VTB – more than half. Their shares are traded on the London stock exchange, it – open joint-stock companies. I understand that the future of Ukraine. Selling – the civilized way to resolve the situation with the “daughters” of Russian banks.
To close these banks are too expensive for Ukraine
The pressure on them will continue. To close these banks are too expensive for Ukraine. The best option is someone bought them. Sell will be difficult. No investors who would like to go in banking sector of Ukraine. He’s unattractive. But if this happens, formal sales will not. Will be a real change of ownership.
On 16 March, the President of Ukraine Petro Poroshenko enacted the decision of national security Council and defense of Ukraine on the application of sanctions to the five banks with the Russian capital. Sanctions for a year will apply to “Sberbank”, “Vs Bank”, Prominvestbank, “VTB Bank”, “BM Bank” to ban outflow of capital outside Ukraine in favor associated with them.