Main /

Report on the Agencys Operation in H1 2015

Date: 17.08.2015

1. Deposit Insurance

As of 1 July 2015, 852 banks were members of the deposit insurance system (hereinafter DIS) including 183 banks undergoing the bankruptcy proceeding (liquidation) and 10 operative banks, which lost their right to open new accounts and accept retail deposits.

During H1 2015, the following changes in DIS membership took place: eight banks were excluded from the register of DIS member banks including four banks due to their activity termination as a result of reorganization through merger (ReKorBank (LLC), FRESCO BANK (JSC), OAO Bank Petrokommerts, KB MAK-BANK (LLC) – all banks are registered in Moscow) and four more banks – due to their completed liquidation (KB Sunzha LLC (the Republic of Ingushetia), AKB GRAD-BANK, JSC (Khabarovsk), AKB Yaroslav (CJSC) (Yaroslavl), LLC KB RIngkombank (Nazran).

During the reporting period, there were 25 insured events accounting for the Agency's liability of RUB 121.6 bln to 457,900 depositors.

Regarding one insured event (AKB Adam-International (OJSC)), payments were not made as the Bank did not have any liabilities to its depositors.

When arranging payouts, the important area of the Agency's operation was counteraction to any attempted insurance fraud and protection of the rights of diligent depositors against any wrongful actions of the banks' employees. For this purpose in each liquidated bank, deposit operations were analysed to identify any signs of generation of any fictitious liabilities. Based on its results 2,800 facts of artificial generation of deposits were identified in 13 banks (VLBANK (JSC), SB Bank (LLC), Promsberbank (CJSC), Pacific Bank of Foreign Trade (OJSC), Yedinstvennyi KB (LLC), Taurus Bank (JSC), ProBank (JSC), Bumerang Komsotsbank (JSC), Sibneftebank (OJSC), Metrobank (JSC), KB OPM-BANK (LLC), RSKB (JSC), and Azimuth AKB (PAO)). Such deposits were created by entering technical records of crediting retail customer accounts in the bank’s books to illegitimately receive deposit insurance payments for the total amount of RUB 2.6 bln, being about 5.6% of the aggregate amount of insured liability of the Agency to all depositors of the above banks.

Besides, during the first six months of this year the Agency received claims from 2,800 depositors of OJSC Commercial Volga-Credit Bank (Samara, the insured event took place on 30 December, 2014) for the outstanding deposit insurance payments arising due to the creative accounting carried out by the bank and debiting of the clients' accounts without their instructions. The Samara oblast investigative bodies launched the criminal proceedings regarding this fact and the Agency, acting in the capacity of the receiver of the bank, made its decision to protect the depositors' interests and to restore their accounting records on account balances). Based on the detailed analysis of all identified information sources, RUB 1.43 bln was restored on the depositors' accounts and the respective insurance payments were made.

The similar procedure for determining the liabilities to depositors was also used in IpoTek Bank (CJSC) (Moscow; the insured event took place on 13 April, 2015), where as a result of wrongful acts of the bank's employees by the time of license revocation, the core banking system was destroyed (the Main Investigations Directorate of Moscow Directorate of the Russian Ministry of Interior of Russia launched the criminal proceeding). Based on the considered claims received from 931 depositors, the Agency, acting in the capacity of the receiver, recovered the accounting records of the bank's liabilities to them for the total amount of RUB 510 mln and the respective insurance payments were made.

Taking into account the above mentioned circumstances the Agency considered 9,135 claims regarding the amount of deposit insurance payments during the reporting period.

During the first six months of that year, the Agency received 1,341 claims of individuals for recognition of the fictitious nature of credit and debit transactions made by them while the bank was insolvent and requesting to recover the account balance data available before such transactions were executed.

As of 1 July 2015, the Agency accredited 79 Banks to make deposit insurance payments. During the first six months of that year three banks were accredited (JSC KB RosinterBank, OJSC AK Bank, RNKB Bank (PAO)), and the accreditations of two banks (VLBANK (JSC) and CJSC AKB GAZBANK) were withdrawn.

During H1 2015, there was provided the possibility to obtain deposit insurance payments to depositors of 176 Banks (82 banks out of them are registered in the Moscow region), including those where the insured events took place during previous years. In total during this period, the deposit insurance payments totalling RUB 104.8 bln were paid to 214,300 depositors of 113 Banks.

During the reporting period eight banks (AKB Grad-Bank (OJSC), KB Sunzha LLC, LLC KB RIngkombank, AKB Yaroslav (CJSC), OAO KB Kauri, AKB Elektronika (OJSC), KB Partnerbank LLC, Up-Bank (OJSC)) terminated deposit insurance payments due to the completion of liquidation proceedings. The total amount of deposit insurance payments to depositors of these banks has amounted to RUB 974.9 mln, in the course of the liquidation procedures RUB 223.5 mln (22.9%) was recovered by the Compulsory Deposit Insurance Fund (hereinafter the Fund).

As of 1 July 2015, the Fund size was RUB 30.9 bln. With a view of maintaining financial soundness of the deposit insurance system, the Board of Directors of the Agency approved the possibility for the Agency to apply to the Bank of Russia for raising uncollateralised loans up to RUB 110 bln for the period up to 5 years.

The receipts of the Fund during H1 2015 amounted to RUB 54 bln, including: RUB 36.4 bln – insurance premiums paid by the Banks; RUB 16.5 bln – recoveries from assets of liquidated banks; RUB 1.1 bln accounted for other receipts.

During the reporting period, the Fund's expenses amounted to RUB 106.7 bln including deposit insurance payments for RUB 104.8 bln and financing of operations of the autonomous non-profit organisation Depositor Protection Fund for RUB 1.9 bln aimed at paying compensations to depositors of the Ukrainian banks in the territory of the Crimean Federal District.

As of 1 July 2015, 32% of the Fund's money was invested in federal loan bonds of the Russian Federation and the Russian Federation constituents, 21% was placed in corporate bonds, 2% was placed in bonds of the international financial institutions, 1% was placed in corporate shares, 39% was placed to deposits with the Bank of Russia. The portion of free cash was 5%. During H1 2015, the weighted average yield of the invested cash of the Fund was 10.2% per annum (taking into account asset revaluation – 15.5 % per annum).

2. Financial Rehabilitation of Banks

During the reporting period the Agency participated in the financial rehabilitation of 17 banks.

The plans of participation in the bankruptcy prevention of Tavricheskiy Bank (OJSC) and OJSC FONDSERVISBANK were drawn. The Agency formally accomplished the measures for financial rehabilitation of OJSC KB Ellipse Bank. Actually the bank was wounded up in November, 2014 as a result of its reorganisation through merger with the BANK ROSSIYSKY CAPITAL (PJSC).

As at 1 July 2015, the amount the current financing by the Agency of the bank resolution measures (taking into account the partial settlement of the principal debt by borrowers) was RUB 822.2 bln including RUB 134.01 bln being the asset contribution of the Russian Federation; RUB 680.2 bln being the loans provided by the Bank of Russia; RUB 6.26 bln being the Fund's money; RUB 1.73 bln being the revenues from the assets acquired by the Agency while carrying out the measures to prevent bankruptcy of banks.

In total during the reporting period, the borrowers repaid RUB 15.77 bln to the Agency as settlement of the principal debt and RUB 5.04 bln as interest payments.

In total, by 1 July 2015 in the course of implementation of bank bankruptcy prevention measures RUB 254,03 bln was received as repayment of loans and the rights (claims) acquired by the Agency, including repayment of the principal – RUB 207.02 bln and interest payments – RUB 47.01 bln.

During the reporting period, due to the repayment of the outstanding amounts by the borrowers, the Agency repaid the loans for the total amount of RUB 4.52 bln to the Bank of Russia that were received for bank financial rehabilitation. At the same time, during H1 2015 the Agency received the loans from the Bank of Russia for RUB 40.20 bln for the purpose of implementing bank bankruptcy prevention measures.

In H1 2015 the Agency examined the financial standing of one bank subject to financial rehabilitation – PAO Timer Bank (former Bank BTA-Kazan (OJSC)) as well as compliance with the limits, conditions, terms for execution of current banking operations, and the rates for raising and placing of resources in the BANK ROSSIYSKY CAPITAL (PJSC).

3. Liquation of Financial Institutions

Managing Liquidation Proceeding in Depository Institutions

As of 1 July 2015 the Agency carried out liquidation proceedings in 199 depository institutions, including 166 where the bankruptcy proceedings were carried out and 33 where the compulsory liquidation was carried out.

The aggregate book value of the assets of the liquidated depository institutions amounted to RUB 1,237 bln, thus exceeding the last year's figure 1.4 fold.

During the reporting period the trend where a great number of depository institutions were placed into liquidation maintained. At the same time the number of banks subject to the compulsory liquidation procedure showed some increase. During the reporting period 30 depository institutions were placed into liquidation by the Agency (during 1H2014 – 32), including 21 banks in which the bankruptcy proceedings were carried out and 9 banks underwent the compulsory liquidation.

In VKB Bank OJSC that was placed into the liquidation procedures, concealment of the bank's liabilities to retail depositors was detected. The law enforcement bodies launched the criminal investigation of the theft of funds disguised as debit transactions to the client accounts maintained with VKB Bank OJSC. The bank was recognized as the aggrieved party in this criminal case.

The liquidation proceedings were accomplished in 11 depository institutions, including three banks (LLC KB RIngkombank, KB Sunzha LLC, KB Kaspiy LLC) where the compulsory liquidation was accomplished, and eight banks (AKB GRAD-BANK, LLC, AKB Yaroslav (CJSC), AKB Lefko-Bank (OJSC), OAO KB Kauri, AKB Elektronika (OJSC), AKB Troyka (OJSC), KB Partnerbank LLC, Up-Bank (OJSC)) where the bankruptcy proceedings were completed.

As on July 1 of this year the average percentage of satisfaction of creditor claims in bankrupt banks where the bankruptcy proceeding were accomplished while the Agency carried out its activity, was 19.5%.

First priority claims have been met by 54.3%, second priority claims – by 27% and third priority claims – by 6.1%.

During H1 2015 the claims of 30,188 liquidated banks’ creditors for the total amount of RUB 102.1 bln were considered and included into the registers. The payments to the above creditors were made for the amount of RUB 38.6 bln.

In three banks where compulsory liquidation procedures were carried out, after meeting their creditors' claims, the remaining property was transferred to the shareholders (participants): in LLC KB RIngkombank – for the amount of RUB 263 mln, in KB Sunzha LLC – for the amount of RUB 235 mln, and in KB Kaspiy LLC – for the amount of RUB 250 mln. In those banks the compulsory liquidation procedures lasted less than one year while in average they last for 16 months.

In four bankrupt banks (AKB GRAD-BANK, AKB Lefko-Bank (OJSC), AKB Yaroslav (CJSC), KB Partnerbank LLC), the duration of bankruptcy proceedings was over 5 years while the average period being 3.5 years. The longer periods of the bankruptcy proceeding in those banks were caused by the lengthy legal proceedings for property recovery, bringing to legal liability of former chief executive officers and owners of depository institutions, and settlement of disputes with creditor committees regarding write-off of the unrecoverable property. Besides, the bankruptcy proceeding in AKB Yaroslav (CJSC) and KB Partnerbank LLC were preceded by the compulsory liquidation procedure.

During the first six months of this year the detailed on-site examinations were carried out to detect any dubious transactions in 40 depository institutions. In 30 depository institutions the challengeable transactions were detected. In their regards the actions plans of measures to challenge them were developed and implemented.

During the reporting period there were 1,521 cases for challenging questionable transactions of liquidated depository institutions (847 of them based on the claims filed in to 2015) in the courts of law and arbitration tribunals. 169 claims of the Agency were satisfied by courts.

As a result of challenging dubious transactions by the Agency the receipts of money to the bankruptcy estates of liquidated depository institutions were RUB 206.1 mln during the reporting period.

As of 1 July of this year 29 applications of the Agency for bringing to the property liability of former senior executives of banks for the total amount of RUB 116,5 bln were at various stages of consideration by courts.

The Agency's claims for bringing senior executives to subsidiary liability were satisfied – against senior executives of KB Holding Kredit for RUB 8.4 bln and International Industrial Bank JSC for RUB 75.6 bln. The claims for the recovery of damages from the former executives of Bank Vefk-Ural ZAO for RUB 300.3 mln and Prikamye Commercial Bank JSC for RUB 26.6 mln were also satisfied.

34 appeals were filed to the law enforcement agencies that were based on the signs of various crimes detected in the depository institutions, including 6 that were based on the facts of deliberate bankruptcy, 20 – on the facts of theft of funds and property of depository institutions and the facts of abuse of authority by executive officers and employees of depository institutions, one – on the facts of attempted theft of funds of the Fund, 7 – on other facts.

71 criminal cases were initiated, including: 61 regarding the facts of abuse of authority by executives and employees of banks or theft of property of depository institutions, 4 regarding the facts of deliberate bankruptcy, one regarding the facts of attempted theft of funds of the Fund, 5 regarding other facts.

During the reporting period courts also made findings of guilt against senior executive of the following banks:

1) Mr. Kerbabaev, chairman of the board of KB Industrialny LLC, was found guilty of commiting the crimes provided for by Part 3 Article 30, Article 196 (Deliberate Bankruptcy) and Part 4, Article 159 (Swindling) of the Criminal Code of the Russian Federation (hereinafter the Russian Criminal Code), and he was sentenced to 2 year of imprisonment;

2) Mr. Kuleshov, chairman of the board of Imperial Bank LLC, was found guilty of committing the crimes provided for by Part 1 Article 201 (Abuse of Authority) of the Russian Criminal Code, he was sentenced to the fine of RUB 100,000;

3) Mr. Doev, chairman of the board of AKB Bank Razvitiya Regiona OJSC, was found guilty of committing the crimes provided for by Part 4, Article 160 (Misappropriation or Embezzlement), Part 2, Article 165 (Infliction of Property Damage Through Deception or Abuse of Confidence) and Part 4, Article 174.1 (The Legalisation (Laundering) of Monetary Funds or Other Property Acquired by a Person as a Result of an Offence Committed by Him/Her) of the Russian Criminal Code, he was sentenced to imprisonment for 3 years and 6 months; Ms. Sattsaeva, the head of the Cash Transactions Division of the bank was found guilty of committing the crimes provided for by Part 4, Article 160 (Misappropriation or Embezzlement) and Part 2 Article 165 (Infliction of Property Damage Through Deception or Abuse of Confidence) of The Russian Criminal Code, she was given 3 year suspended sentence;

4) Mr. Ayrapetyan, the vice-president of OJSC PRB, was found guilty of committing the crimes provided for by Part 4 Article 160 (Misappropriation or Embezzlement) of the Russian Criminal Code, he was sentenced to 3 years of imprisonment;

5) Mr. Darbishev, a shareholder of AIB Imbank OJSC, was found guilty of committing the crimes provided for by Parts 3 and 4, Article 159 (Swindling) of the Russian Criminal Code, he was given 4 year suspended sentence.

As of 1 July of that year the Agency had 68 specialised institutions accredited to support its operation in the capacity of receiver through rendering of accounting, legal, archiving services, etc. to liquidated credit institutions. During the accounting period 271 selections for rendering services to liquidated credit institutions were held including additional tenders for selecting specialised institutions for rendering services in the process of liquidation of credit institutions in the area of Maintenance of Accounting Records and Maintenance of the Creditor Claims Register in Credit Institutions.

To ensure continuous liquidation procedures and timely organisation of work at the initial stage of the liquidating process, in the reporting period the Agency advanced the expenses for RUB 88.6 mln and recovered RUB 92.6 mln taking into account the funds provided for these purposes earlier.

During H1 2015, RUB 22 bln was recovered in the receivership estates including: obligatory reserves received from the Bank of Russia – RUB 2.1 bln; cash on hand and balances of correspondent accounts with the Bank of Russia – RUB 2.1 bln; cash from sale and recovery of assets – RUB 17.8 bln (RUB 13 bln – from repayment and collection of outstanding loans and promissory notes; RUB 1.3 bln – balances of correspondent accounts with commercial banks, with clearing houses of the Moscow Interbank Stock Exchange and the Russian Trading System; RUB 0.2 bln– from sale of securities; RUB 0.8 bln – from sale of premises and fixed assets; RUB 2.5 bln – other assets).

Besides this, according to the procedure stipulated by Article 189.93 of the Federal Laws No. 127-FZ dated 16 October, 2002 On Insolvency (Bankruptcy), the cash was received from the third party (FFF Holdings B.V.) in fulfilment of the obligations of My Bank (LLC) for RUB 13.67 bln.

During H1 2015 129 auctions were arranged to sell property of liquidated banks including the auctions by means of electronic public offering, and 35 times the property was sold using other procedures.

42 creditors' meetings of the liquidated credit institutions were held, 35 out of them were first creditor meetings.

Managing Liquidation Proceedings in Non-government Pension Funds

During the reporting period the Agency carried out the liquidation procedures in six non-government pension funds (hereinafter NPFs): Private pension fund "General Pension Fund", Semeyny non-government pension fund (NPF), Transsystroy non-government pension fund (NPF), NON-GOVERNMENT PENSION FUND "PROFESSIONAL INDEPENDENT PENSION FUND" (hereinafter PIPF), NO Podolsky non-government pension fund, and Industrialny NPF.

As of the date of launching the bankruptcy proceeding for the liquidated NPFs, the aggregate book value of their assets was RUB 2.4 bln.

At the same time the aggregate book value of the property of liquidated NPF, which actual availability was established by the receiver, was RUB 1.3 bln, its assessed market value did not exceed 7% thus evidencing the low quality of the assets (as of the closing date of the reporting period the inventory of assets of Industrialny NPF was not completed).

During H1 2015, the accounts of liquidated NPFs in the Agency that were opened for accounting of the pension reserves were credited with RUB 48.84 mln. The amount of the pension reserves received during the reporting period was 42% of the amount of all claims of the Agency against the management companies. At the same time, MC Basis-invest LLC, the manager of the pension reserves of NO Podolsky non-government pension fund, managed to repay money together with investment income.

The measures aimed at finding and recovering the assets enabled the Agency to accumulate on the accounts of liquidated NPFs the funds of pension reserves for RUB 64.76 mln and to start settlements with the creditors. Over RUB 10 mln was used to pay the cash surrender value to the depositors and members of NPF General Pension Fund thus procuring that the individual creditors’ claims were satisfied in full and corporate creditors’ claims were satisfied in part (10.82% of the established claims).

The pension reserves of NO Podolsky non-government pension fund received from trust management allowed to form the payment fund during H1 2015 to meet liabilities related to payment of life-long occupational pensions in full to 182 participants.

During the reporting period the accounts of liquidated NPFs with the Agency that were opened for accounting of the receivership estate were credited with RUB 1.38 mln. For ensuring continuous liquidation procedures the current expenses of the liquidated NPFs were mainly made from the Agency's funds.

During H1 2015, the activities aimed at enforcing in court recovery of any outstanding amounts from debtors of liquidated NPF continued, including 19 filed legal suits for debt recovery for the total amount of RUB 159.49 mln and two legal suits for restoration of the rights under the lost promissory notes and two legal suits for collection of the special-purpose contributions under the deed of adherence to the membership the pension guarantee system for RUB 621.68 mln.

The courts considered 21 legal claims of the receiver for the total amount of RUB 43.33 mln, including the judgements on satisfaction of 12 legal claims for the total amount of RUB 24.43 mln. On the basis of court decisions on recovery of outstanding debt that entered into force, 13 writs of execution were issued.

During H1 2015, the causes of bankruptcy of two NPFs were investigated. The Agency came to the conclusion that no signs of deliberate bankruptcy existed in NO Podolsky non-government pension fund. Regarding Semeyny non-state pension fund (NPF), due to unavailability of any evidence (electronic database and any documents necessary for the analysis), the opinion was generated about impossibility of carrying out any detailed financial and document-based legal analysis, and, as consequence, identification of the bankruptcy causes.

At the same time, the actions aimed at gratuitous disposal of the property in favour of third parties were detected during inspection of NO Podolsky non-government pension fund. The above actions, which caused substantial damage to the NPF, show the signs of theft in the form of misappropriation or embezzlement (Part 4, Article 160 of the Russian Criminal Code).

With regard to Semeyny non-government pension fund there was detected illegal debiting of corporate account of trust management of pension accruals for RUB 3.48 mln. As part of bankruptcy proceeding the application was filed to the Arbitration Tribunal of the Sverdlovsk Region to recognize invalid the bank transactions on debiting money being the pension accruals and application of the consequences of invalid transactions. The appeal against the judgement of the Arbitration Tribunal of the Sverdlovsk Region dated 5 June, 2015 to dismiss the application was filed.

A claim was filed to the law enforcement agencies regarding the deliberate bankruptcy fact identified in PIPF and the application regarding the crimes committed by senior executives of NO Podolsky non-government pension fund.

4. Taking Measures to Improve Capitalisation of Banks

In January 2015 the Agency’s Board of Directors approved the Regulations and Conditions for placement of the property contribution of the Russian Federation to the Agency's property into subordinated liabilities and preferred stock of banks (hereinafter the Regulations) and the standard agreement for monitoring the activity of banks that are subject to implementation of measures to increase their capitalisation. The list of 27 banks that meet the established criteria for applying for the capital injection was approved by the Board of Directors of the Agency and approved by the Government of the Russian Federation.

In April, 2015 resolution of the Board of Directors of the Agency supplemented the Regulations with the section defining the mechanism for taking measures to increase capitalisation of the banks by purchasing by the Agency of preferred shares of the banks and the subordinated liabilities of the banks maturing after 50 years in order to increase Tier 1 capital of the banks.

Decree of the Government of the Russian Federation No. 877-r dated 13 May, 2015 approved two lists – the list of banks whose preferred shares are to be purchased by the Agency to ensure financial soundness of the deposit insurance system, and the list of banks for taking the measures to increase their capitalisation by granting subordinated loans to such banks (payment for the subordinated bonds of such banks) maturing after 50 years. In total these two lists include eight banks.

In June the Agency’s Board of Directors made some amendments to the Regulations to allow additional capitalisation of some regional banks. The criteria to be met by a regional bank to be eligible for receiving funds from the Agency for increasing their capitalisation were established.

As of 1 July 2015, the Agency received 25 consents in writing from banks to enter into agreements with the Agency on purchasing by the Agency of subordinated bonds and preferred shares of 28 banks according to the quota (the parent banks receive funds on behalf of 3 banks who are member of the banking groups) and one application from a bank, against which the international sanctions are applied, for the total amount of RUB 821,5 bln.

During H1 2015, the Agency’s Board of Directors made its decisions to purchase the subordinated liabilities of 17 banks for RUB 280,4 bln. The agreements with 6 banks were concluded on purchasing their subordinated liabilities and monitoring of their operation: Sovkombank PAO, OAO Bank Petrokommerts, PAO Bank FK Otkrytie, MOSCOW CREDIT BANK OJSC, AK BARS BANK OJSC and JSC AKB NOVIKOMBANK. The total face value of the federal loan bonds transferred to the above banks amounts to RUB 111.0 bln.

5. Ensuring Transparency of the Agency's Operation

During the reporting period the Agency continued its efforts to ensure public awareness about deposit insurance, bank resolution, liquidation of depository institutions and NPFs, and additional capitalisation of banks. 105 press releases and information statements were prepared and sent to the mass media. There were 31,366 publications covering the Agency's operation. The Agency representatives gave 277 comments and interviews.

Senior executives of the Agency participated in ten TV programmes and two special reportages at Russia 24 TV channel covering various aspects of the Agency's activity.

During the reporting period General Director of the Agency took part in a briefing on the deposit insurance system development and in the press conference that was based on the results of his meeting with Governor of the Samara Region where the situation with payouts to insured depositors of OJSC VKB (Samara) was discussed.

Along with the activity aimed at increasing of the public awareness, the Agency actively participated in certain events that are significant for the market professionals. During the reporting period senior executives of the Agency delivered their presentations at a number of specialized conferences and fora both in and beyond the territory of Russia, in particular at XXVI conference of the Association of Russian Banks, XXX General Meeting of the Association of Regional Banks of Russia, XXIV International Bank Congress Financial Industry: Challenges and Solutions.

Two meetings of the Expert and Analytical Council of the Agency, with involvement of mass media representatives, were held, where the recommendations of the Financial Stability Board regarding improvement of the Russian system of bank resolution and the current trends in the deposit market and prospects for their change were discussed.

The meeting of the Agency’s Public Council for interaction with creditors of financial institutions was held where the proposals regarding deposit insurance system improvement were discussed.

For expanding public access to the information about the Agency's operation great attention was paid to enhancement of the official website of the Agency in the Internet. During the reporting period the website was updated 5,652 times. The series of actions related to streamlining of the web-site usage by different categories of visitors were taken.

The number of calls to the toll-free telephone line of the Agency was still high: during H1 2015 over 49,500 calls were received monthly (about 299,000 calls during six months). We also managed to maintain high standards of caller servicing (minimum response time, high portion of processed calls, etc.).

During H1 2015, the Agency generated and approved 2014 Annual Report, which was placed on the official web-site of the Agency and published in Rossiiskaya Gazeta and The Bank of Russia Bulletin.

The Agency's representative offices in the federal districts actively participated in its efforts aimed at increasing public awareness. They prepared responses for more than 10,000 requests of individuals and entities and published about 800 information materials.

During H1 2015 as a part of its procurement activity, the Agency held 6 tenders, 7 auctions, 13 price quotation requests and 9 calls for bids. Based on the results of five tenders the contracts were awarded for the total amount of RUB 56.04 mln, of one auction – for USD 98,300 (the rouble equivalent being RUB 24.75 mln as of the date when the conclusions of the procurement results were made), of six auctions – on the amount 17,22 mln RUB are concluded, two requests for quotations of prices – for USD 34.96,000 (the rouble equivalent being RUB 2.04 mln as of the date when the conclusions of the procurement results were made), of eleven price quotation requests – for RUB 6.5 mln, nine calls for bids – for RUB 69.33 mln. The cost saving from the procurement using the competitive procedures was estimated to be RUB 24.9 mln, being 12.4% of the initial (maximum) contract price.


Balance Sheet

of the State Corporation “Deposit Insurance Agency” for H1 2015

million rubles


Assets

as of

30.06.2015

as of

31.12.2014

as of

31 12.2013



I. ASSETS





1

Investment of the Mandatory Deposit Insurance Fund’s resources

99 426

104 450

247 869



1.1 Long term

46 545

58 885

145 454



1.2 Short term

52 881

45 565

102 415


2

Investment of the Guaranteed Pension Savings Fund’s resources

119

0

0



2.1 Long term

77

0

0



2.2 Short term

42

0

0


3

Investment of the Agency’s resources that are not included in the Mandatory deposit insurance fund

42 096

38 723

30 909



3.1 Long term

5 312

7 759

12067



3.2 Short term

36 784

30 964

18 842


4

Funding of measures aimed at prevention of failures of financial institutions

822 185

791 113

443 534


5

Funding of measures aimed at increase of bank capitalization

1 000 000

1 000 000

0


6

Fixed Assets

4 843

4 770

790


7

Cash

6 945

6 727

12 627



including:






7.1 Cash of the Mandatory Deposit Insurance Fund

5 557

5 280

11 778



7.2 Cash of the Guaranteed Pension Savings Fund

0

0

0


8

Other assets

475 365

349 726

165 445



Total for Section I

2 450 979

2 295 509

901 174



BALANCE

2 450 979

2 295 509

901 174



LIABILITIES

as of

30.06.2015

as of

31.12.2014

as of

31 12.2013



II. EQUITY





9

Resources of the Mandatory Deposit Insurance Fund

30 919

83 599

168 127


10

Resources of the Guaranteed Pension Savings Fund

114

0

0


11

Property contribution of the Russian Federation, including:

1 161 636

1 161 642

164 569



11.1 Funds for measures aimed at prevention of bank failures

158 341

158 346

161 310



11.2 Funds for measures aimed at increase of bank capitalization

1 000 000

1 000 000

0


12

Funds and reserves

0

0

0


13

Retained earnings (uncovered loss)

8 920

0

0



Total for Section II

1 201 589

1 245 241

332 696



III. Liabilities





14

Loans and credits payable, including

680 200

644 520

300 365



14.1 long term

650 200

612 920

290 365



14.2 short term

30 000

31 600

10 000


15

Funds of financial institutions placed in receivership and liquidation

19 617

22 554

7 992


16

Other liabilities

549 573

383 194

260 121



Total for section III

1 249 390

1 050 268

568 478



total

2 450 979

2 295 509

901 174



For information: Off-balance-sheet assets and liabilities





17

Received collaterals for obligations and payments

633 182

537 860

357 971


18

Given collaterals for obligations and payments

5000

5340

5000


19

Depreciation of fixed assets

289

259

219


General Director

<signature>

Yu. O. Isaev

Chief Accountant

<signature>

N.D. Molodtsova

Seal


STATEMENT OF INCOME (LOSSES)

including data on income / loss received from investing of temporary idle funds of the State Corporation “Deposit Insurance Agency” for H1 2015

million rubles


Description of Items

For the Reporting Period

Similar Period of the Previous Year



INCOME




1

Revenues from placement (investment) of the Mandatory Deposit Insurance Fund’s resources, total, including:

7 580

8 085



1.1 Income from operations with securities

270

0



1.2 interest income

4 729

8 082



1.3 other income

2 581

3


2

Revenues from placement (investment) of the Guaranteed Pension Savings Fund’s resources, total, including:

8

0



2.1 Income from operations with securities

0

0



2.2 interest income

4

0



2.3 other income

4

0


3

Revenues from placement (investment) of the Agency's resources which are not the funds, including:

8 269

3 552



3.1 Income from operations with securities

96

0



3.2 interest income

7 653

3 536



3.3 other income

520

16


4

Revenues from use of funds received to take measures to increase capitalization of banks

59 886

0


5

Other income

164

109



Total income

75907

11 746



EXPENSES




6

Expenses related to operations with securities purchased at the expense of the Mandatory Deposit Insurance Fund

4

3 519


7

Expenses related to operations with securities purchased at the expense of the Guaranteed Pension Savings Fund

0

0


8

Expenses related to operations with securities purchased at the expense of the Agency's resources which are not the funds

1

289


9

Interests costs

4 148

1 171


10

Expenses incurred in the course of the measures to increase capitalization of banks

59 886

0


11

Administrative expenses of the Agency

1435

1 106


12

Other expenses

298

228



Total Expenses

65 772

6 313



Profit (loss) before tax

10 135

5 433


13

Profit tax

1 215

1 631


14

Deferred tax assets (+), liabilities (-)

0

4 225



Net profit (loss) of the reporting period

8 920

4 225


General Director

<signature>

Yu. O. Isaev

Chief Accountant

<signature>

N.D. Molodtsova


Seal


Back to the list

www.iadi.org
www.efdi.eu