Bank "Finance and Credit": problems. Bank customer references

The Bank "Finance and Credit" has been experiencing the problem for a long time. Previously, it was one of the largest banks, and today it has almost gone down in history. The problem is that the state refused to support the work of the financial institution. And for Mr. Zhevago this desire has long since disappeared. The brilliant history of the financial market giant, which began in 1990, has almost reached the end of the fall of 2014.

Excursion to the history, or How the empire of Zhevago appeared

The branches of the bank "Finance and Credit" a year ago successfully worked throughout Ukraine, providing high-quality services to tens of thousands of customers. The history of the giant of the financial market began back in 1990, when the State Bank of the USSR registered the enterprise as a "Ukrainian Commercial Bank for Business Cooperation". The new owners of the institution gave the financial organization a new name in the 90's. In the face of the new founders at that time, representatives of the Ukrainian "magnificent seven" made speeches:

• V. Medvedchuk.
• The brothers Surkis.
• V. Zgursky.
• Y. Karpenko.
• B. Gubsky.
• Yu. Lyakh.

It was they who were interested in the question of where to save their capital, which they received, by participating in the largest financial pyramid of the past called "Ometa 21". This is how the well-known bank "Finance and Credit" appeared in the whole country, at the head of which it was decided to put Konstantin Zhevago, then still a simple student.

Active actions

From the first minutes of the existence of the updated version of the bank, its head began to take active steps, applying a creative approach to managing a large-scale financial structure. Today, the bank "Finance and Credit" - bankrupt, and before he was a massive buyer of expensive shares and stakes in a wide variety of Ukrainian companies. The leadership of the institution managed to attract foreign capital. The most famous investor was I. Bakai, who made a significant contribution to the transformation of the domestic institution into a mini-switzerland. In the accounts of the financial structure, the contributions of political opponents, industrial groups, and criminal and semi-criminal structures coexisted peacefully. Despite the inactivity of institutions in the public sphere, minimal participation in interbank trades and passive lending to individuals, it managed to always be at the top of the NBU rating. With regard to the bank "Finance and credit", the problems that began relatively recently, until the moment of bankruptcy there were no negative reviews and statements.

First problems

With the first difficulties, a large financial structure collided in the second half of 2008. It was at that time that the wave of crisis swept Ukraine. By this time the bank "Finance and Credit" under the strict leadership of Zhevago turned into a typical commercial structure that served the group of companies of the head. It included at least 60 enterprises and firms. It was these organizations of Zhevago that were the main consumers of the bank's clients ' funds , and they received them at the most favorable interest rates and on attractive terms. We can say that the bank "Finance and Credit" (it burst practically only in 2014) then deliberately took a risk, jeopardizing the fulfillment of its obligations to customers. In 2008, many financial institutions faced difficulties, but not many received material support from the National Bank. It is very interesting that the lion's share of the provided capital was successfully spent on speculation within the foreign exchange market.

Fatal 2009: recent hopes

The spring of 2009 became fatal for the bank. It all started with problems at such enterprises as AvtoKrAZ, which stopped production at that time by no less than six months, and Kyivmedpreparat, which allowed a technical default on the issued bonds, which promised a real default. There were also difficulties at the Stakhanov Carriage Works, which failed to find orders for 2009. All these enterprises were the property of Zhevago. By an unfortunate coincidence, on the very edge of default at that time is the bank "Finance and Credit", whose branches have successfully worked throughout Ukraine.

To whom should the bank?

The financial institution could not return not only money to individuals, but also a loan of $ 70 million, which it took from such structures as Raiffeisen Zentralbank, Standard Bank and VTB Bank. The bank failed to pay even interest on loans. The loan portfolio of that time included about 35% of mortgage loans, which was about 4.85 billion hryvnia. In the crisis that prevailed at that time, this category of debts was automatically transferred to the category of hopeless ones. The bank's experts assessed the situation and announced that to maintain the institution afloat it requires capital investments of 5.5 billion hryvnia.

A temporary solution to the difficulties

The leadership of the bank "Finance and Credit" (Kyiv) in March 2009 decides to ask the state for help at an extraordinary meeting. Given that the manager of this institution was parallel to the people's deputy from the BYuT party and acted as the largest sponsor of this bloc, the decision of the Cabinet of Ministers turned out to be not only positive, but also very prompt. Thus, the bank "Finance and credit", whose problems did not recede, falls into the list of seven financial institutions of Ukraine, which are capitalized from the state budget. Pay attention to the fact that the funds that could help solve the problem with depositors and payment of deposits, were redirected to another channel. Today, the Bank "Finance and Credit" is closed for the reason that at the time of the crisis, free funds, which is about 300 million hryvnia, were launched for lending to AvtoKrAZ and Kherson Cardan shaft plant. The loan term was 63 months at 14% per annum, when the market had an average rate of 26.4%.

Bargaining with the government and wrong decision

After the receipt of funds from the government on the bank's accounts, the real bidding started. The Cabinet of Ministers began to actively demand from each of the institutions that fall into the seven lucky beggars to re-form the state about 75% of the shares. And even a requirement was put forward that in the "Finance and Credit" bank the interim administration would replace the existing management for a period of up to 12 months. The management of the financial structure agreed to transfer only 50% of the shares and gave permission for the introduction of staff supervision supervisor.

Refusal from state aid

Support from the state ended when the process of recapitalization acquired a flat format. The management of the bank completely refused any assistance from the government. After the National Bank of Ukraine has allocated about 2.5 billion hryvnia to support the structure of the institution, Zhevago said that he will continue to cope with his difficulties. The consequence of such a strange decision was the inability of the financial institution to make client payments, the inability to return deposits to individuals, the terms for which expired. Very interesting is the fact that the bank "Finance and Credit", whose problems are more provoked by the leadership itself, continues to redirect all available funds as loans to the accounts of Zhevago companies. This development of events, which has already betrayed publicity, pushes the public to indignation and can lead to mass dissatisfaction and protests. At the time of the emergence of problems, the financial institution serviced about 119 thousand time deposits and about 217 current accounts.

Be careful, scammers

Today, many people say that the bank "Finance and Credit" is bankrupt, but this does not stop the structure. Relatively recently, the largest advertising campaign was launched, which many people believed. Contributed to the contribution of the "Big Seven" with good interest rates. It's strange, but for some reason it's not mentioned that by the beginning of 2015 many branches of the bank (no less than 80) have ceased to exist. At least 20% of the employees were already dismissed. The deputy head of the institution had the imprudence to publicly say that the financial corporation is experiencing difficulties and with time the losses will only increase. This at least should have alarmed the government of Ukraine.

What investors and customers say

Customers and depositors of the bank, whose deposits are due in 2015, can not receive their money. Arbitrariness occurs in many branches. Employees of the bank "Finance and Credit", a temporary administration in which has not been introduced, carry out an independent prolongation of deposits. If earlier about the expiration date of the deposit reported in advance, today it does not practice. Despite the availability of funds in the box office, no one gives money to the hands. The happiest investors are those who managed to get at least 20% of their contribution. Mass indignation does not change the situation. Among the victims there are also single mothers, disabled people, and ordinary students. This does not affect the fact of non-payment. In some offices, protection has appeared, which takes clients from banks who are actively demanding their own funds. Previously, this practice was not applied.

Not all is lost, there is a small chance

Despite the fact that the bank completely fails to fulfill its obligations to customers, its management continues to take active measures for recapitalization. At the March 23 meeting, it was decided to raise the authorized capital of the institution by issuing bank shares for the amount of UAH 616.4 million. While the bank "Finance and credit" has burst not completely, and there is still a little hope. The first withdrawal of shares to the market brought plus 22% to the authorized capital (3416.4 million hryvnia). The next meeting of shareholders is scheduled for April 27, 2015. It will officially calculate and announce the results of work for the past 2014. The issue of reconstruction of the government apparatus will be considered. According to preliminary forecasts, exactly "Finance and Credit" is a bank (Kharkov branch including), which in the future will receive assistance from the regulator in the amount of UAH 700 million, which should help fulfill all obligations to depositors. The decision is due to the fact that within the financial structure 4% of all bank deposits in Ukraine and 2% of all assets of the country are concentrated. The credit organization itself belongs to the first category.

What can prevent the brilliant plans?

It is unequivocal to say that the Bank "Finance and Credit" is closed, does not allow the fact of active actions on the part of shareholders. At the same time, there is another interesting point that can override all brilliant management plans. The company Cargill appealed to the court of the State of New York with a request to block correspondent accounts. The request was immediately granted until the completion of the proceedings. The debt of $ 44 million today hangs over the structure of "Finance and Credit." The bank (Kharkiv, Kiev and other branches) promises to restructure the debt. Management insists that it does not refuse to fulfill its obligations to any of the creditors. It was proposed to negotiate with a view to solving this problem. As the situation unfolds further, it is not known, investors can only wait and hope for the best. Experts, inclined to negative forecasts, do not exclude the possibility of withdrawing the financial structure from a protracted crisis and full compensation of deposits to each of the clients.