“Sberbank” buying on the cheap – economists

Sberbank to buy on the cheap / Photo: MIGnews.com.ua

Sberbank bought for $130 million Is a little less of the Bank’s equity as of September 2016, writes “Kommersant”. Gazeta.ua asked economic experts to assess the value of the Bank and to predict the fate of other financial institutions with Russian state capital.

Oleksandr Zholud, the economist:

– 130 million dollars – a small price to pay. Banks assess, given the amount of equity. It belongs to the owner, and assets and liabilities include borrowings. At the peak, when there was a universal boom and foreign banks came to Ukraine, the Bank was worth up to seven capitals. The main issue here is not price, but whether it will really have that kind of money and whether it is a real sale. Change of ownership may be nominal. Formally, the participation of Russian state capital will be removed.

The Russian Federation as the government wants to get rid of such property. If Russia takes responsibility. Now Russia was forced to pour money into this Bank to keep it afloat. The new owners can bring the Bank to bankruptcy, and Russia will not answer for the consequences. It will be a problem for private owners, but they are not in Ukraine. They will not be able to get our law enforcement agencies. Russia benefits from this, but I’m not sure that this will benefit investors or Ukrainian Ukraine.

The new owners can bring the Bank to bankruptcy

Hardly “savings Bank” will remain a secret “daughter” of the Russian Bank. Share information about Ukrainian customers will not allow the supervision of the national Bank. Russia wants to get rid of all Ukrainian banks, which is the ultimate owner. While we do not allow her to do it. The national Bank was even forced to capitalize these banks and to pay a round sum. Will try to leave the Ukrainian market, to avoid unnecessary costs.

Alexander Okhrimenko, Director of the Ukrainian analytical center:

– The money will cover the cost of renewal of the financial institution. Such a Bank under favorable conditions, worth a billion dollars. This amount is the minimum.

The Russian connection will still remain

Now in Ukraine it is difficult to sell the Bank. Can negotiate to sell it for real money. Buyers will pay this amount from future profit. The economic benefit of the buyers too. If you become the Bank with the European capital can change the format of the work. Can minimize some programs. But will implement in Ukraine some of the European banking products. Russian relations still remains. However, the private self wants to run the Bank itself. Other Russian banks sell.

Taras Zagorodnii, economic expert:

Bank is 2-3 capitals. But 30-40% of the loan portfolio of Sberbank of poor quality. Worked with borrowers in the Donbas. An investor who buys the Bank, is of Russian origin. Shopping can be political. Any money the financial institution will pay and will receive preferences from Russia. The situation with the “savings” similar to the sale network of filling stations “LUKOIL”. Just changed the signs to “AMIK”. It is not excluded that they don’t even guide.

Ukrainian protests played at low prices. The Bank is trust. If the main office lay the cinder blocks in and around the Bank scandal is bad for the price.

We will see the influx of Russian capital in Ukraine

Other banks with Russian state capital to sell related to private investors. But the Ukrainian market they will not go away. We will see the influx of Russian capital in Ukraine, because we are in a free trade zone with the EU. The asset price of 1 UAH, in 3-4 years it will cost only 10 through this area. For several years Ukraine will become the basis for the laundering of Russian capital. Before the election of the Russian President in the context of political instability there, the business will transfer money here. Ukraine can win. To build rules that will not allow the Russian capital to corrupt the system.

Needs to be pragmatic. Western capital ten years will not come to us. First, the oligarchs will return the money here. Then here comes the Russian capital. He will seek refuge in Europe through Ukraine. Continue to invest in Arab countries. Are available funds and invest them in Ukraine. Western money should not count. For European investors, we too risky country.

The main shareholder of the consortium that wants to buy Ukrainian “daughter” of Sberbank of the Russian Federation, is the son of the Chairman of the Board of Directors of “RussNeft” Mikhail Gutseriev said.

On March 16, President Petro Poroshenko enacted NSDC decision on sanctions against five banks with Russian capital. According to media reports, the Russian Sberbank is going to sell the second asset in Ukraine – VS Bank.