MIRA INFORM REPORT

 

 

Report Date :

24.11.2014

 

IDENTIFICATION DETAILS

 

Name :

CREDIT BANK OF MOSCOW (OPEN JOINT-STOCK COMPANY)               

 

 

Registered Office :

Per Lukov d 2, str 1, 107045 g Moskva                         

 

 

Country :

Russia

 

 

Financials (as on) :

31.12.2013              

 

 

Date of Incorporation :

18.08.1999

 

 

Com. Reg. No.:

1027739555282  

 

 

Legal Form :

Public limited company

 

 

Line of Business :

Other monetary intermediation     

[We tried to confirm / obtain the detailed activity but the same is not available from any sources]                    

 

 

No. of Employees :

4385

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Russia

A2

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

RUSSIA - ECONOMIC OVERVIEW

 

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy towards a more market-based and globally-integrated economy, but stalling as a partially reformed, statist economy with a high concentration of wealth in officials' hands. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russia is one of the world's leading producers of oil and natural gas and is also a top exporter of metals such as steel and primary aluminum. Russia's manufacturing sector is generally uncompetitive on world markets and is geared toward domestic consumption. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global prices. The economy, which had averaged 7% growth during 1998-2008 as oil prices rose rapidly, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. Slowly declining oil prices over the past few years and difficulty attracting foreign direct investment have contributed to a noticeable slowdown in GDP growth rates. In late 2013, the Russian Economic Development Ministry reduced its growth forecast through 2030 to an average of only 2.5% per year, down from its previous forecast of 4.0 to 4.2%. In 2014, following Russia's military intervention in Ukraine, prospects for economic growth declined further, with expections that GDP growth could drop as low as zero

 

Source : CIA

 

 

 

 


Company name and address

 

OAO "MOSKOVSKIY KREDITNYY BANK"        

                                                                               

PER LUKOV D 2, STR 1,

107045 G MOSKVA

 

Tel: 74957774888

Telefax: 74957974210

E-Mail: info@mkb.ru

Web: www.mkb.ru

 

 

Company summary

 

Established on               18/08/1999 - Public limited company (OAO)                      

Registered on                18/11/2002, Mezhrayonnaya inspektsiya MNS Rossii ¹39 po        

                                     g.Moskve, RegNr.: 1027739555282                                

                                      Tax number: 7734202860                                         

                                    Statistical number: 09318941                                   

Registered                                          RUB    14 467 761 735,-    

capital                                                                        

Stockholders                 OOO "KONTSERN "ROSSIUM"             %                    85    

                ul Vnukovskaya d 11, korpus 1l, 143000 g Odintsovo                             

                Beginning of validity: 21.04.2014                              

 

Board of                        Aleksey Vladimirovich Kosyakov                                 

directors                        Member of the board of directors                               

                Darya Aleksandrovna Galkina                                    

                Member of the board of directors                               

                Dmitriy Aleksandrovich Eremin                                  

                Member of the board of directors                               

                Svetlana Vladimirovna Sass                                     

                Member of the board of directors                               

                YUriy Alekseevich Ubeev                                        

                Member of the board of directors                               

 

Sole Executive  Vladimir Aleksandrovich CHubar                                  

Body                             Chairman of the board                                          

 

General data    Main activity:                                                 

Other monetary intermediation                           (65.12)

 

                        Full name:                                                     

                        "MOSKOVSKIY KREDITNYY BANK" (otkrytoe aktsionernoe obshchestvo)

                        Name in foreign language:                                      

                        CREDIT BANK OF MOSCOW (OPEN JOINT-STOCK COMPANY)               

                        Short name:                                                    

                         Otkrytoe aktsionernoe obshchestvo "MOSKOVSKIY KREDITNYY BANK"  

                                                                                

Residence address:                                             

                per Lukov d 2, str 1, 107045 g Moskva                          

                Tel:                                                            

                74957774888                                                    

                Telefax:                                                       

                74957974210                                                     

                E-Mail:                                                        

                info@mkb.ru                                                    

                Web:                                                            

                www.mkb.ru                                                     

 

Other activities

   

Employees                   01/07/ 2014       4385 employees                                         

                                                                                    

Events,               04.09.2014 - Legal debt collection procedure                   

negative data                                                                  

                         Remark:                                                         

                          A40-143541/2014                                                

Remarks          The solvency cannot be provided due to the       

                reason that OAO “MOSKOVSKIY KREDITNYI BANK” is a credit        

                organization.                                                  

                OAO “MOSKOVSKIY KREDITNYI BANK” has the following licenses:    

                General license for banking operations - unlimited;            

                The license for the deposit and place precious metals -        

                unlimited.                                                     

                                                                               

                 The register of shareholders of OAO “MOSKOVSKIY KREDITNYI     

                BANK” is  held by a private non-state registrar. The           

                information about  shareholders is closed. List of             

                shareholders provided in the report  was formed according to   

                the information from last published official “List of          

                affiliated persons” of the company of 30.09.2014.              

                                                                                

                 According to the research, affiliation through the chairman   

                of OAO  “MOSKOVSKIY KREDITNYI BANK”, Vladimir Aleksandrovich   

                Chubar, with other legal persons has not been revealed.        

                                                                               

OAO “MOSKOVSKIY KREDITNYI BANK” participated in court cases

as claimant and collected the following amount of debt:

In 2013: 31 648 044, 42 RUB;

In 2012: 6 401 554, 75 RUB.

 

The company had state contracts for the total sum:

In 2014: 325 000 RUB;

In 2012: 5 558 000 RUB.

 

A. The enclosed balance of 2012 is originated from official source, it is      

authenticated by the auditor . (31.12.2012 - 1000 RUB) - Warning! The figures  

stated in the balance sheet may contain error(s).                              

 

B. The enclosed balance of 2013 is originated from official source, it is      

authenticated by the auditor . (31.12.2013 - 1000 RUB) - Warning! The figures  

stated in the balance sheet may contain error(s).                              

 

 

financial data

 

BALANCE SHEET                                              A 31.12.2012                B 31.12.2013               C

1. ASSETS                                                                       

Cash                                 10 829 487      10 312 841                

Accounts of financial                 9 951 773      16 522 630                

institutions in the Central                                                    

Bank of Russian Federation                                                     

Required reserves                     2 545 772       2 798 987                

Accounts in financial                 6 265 575       5 175 607                

institutions                                                                    

Net investments in securities,       25 196 238               0                

estimated at fair value by                                                     

 

profit or loss                                                                  

Net loans receivable                238 849 175     350 555 351                

Net investments in securities         9 912 111      16 820 335                

and other financial assets                                                      

available for sale                                                             

Investments in subsidiaries                   0         310 126                

and associated organizations                                                    

Net investments in securities                 0               0                

held to maturity                                                               

Fixed assets, intangible              5 867 825       5 850 023                 

assets and inventories                                                         

Other assets                          3 123 942       5 841 444                

>Total assets                      >309 996 126    >445 837 969                

>2. LIABILITIES                                                                

Loans, deposits and other                     0      14 547 167                

funds of the Central Bank of                                                   

Russian Federation                                                              

Liabilities to credit                23 991 976      19 857 159                

institutions                                                                   

Customer accounts (non-             212 391 211     314 456 313                

financial institutions)                                                        

Deposits of individuals             105 735 676     133 142 464                

Financial liabilities,                        0             825                

estimated at fair value by                                                     

profit or loss                                                                 

Debt securities issued               40 953 680      48 335 118                

Other liabilities                     3 756 800       6 131 432                

Reserves for possible losses            657 505       2 574 076                

on contingent credit related                                                    

liabilities, other possible                                                    

losses and transactions with                                                   

residents of offshore zones                                                    

>Total liabilities                 >281 741 172    >405 902 090                

>3. EQUITY                                                                     

Funds of shareholders                12 677 833      14 467 762                

(participants)                                                                  

Treasury shares (shares)                      0               0                

repurchased from shareholders                                                  

(members)                                                                       

Share premium                         4 023 086       9 768 757                

Reserve fund                          4 313 214       4 313 214                

Reassessment at fair value of            88 482         -24 252                

securities available for sale                                                  

Reassessment of capital assets        1 738 397       1 738 359                

Retained earnings (uncovered            239 688       5 403 981                

loss) of previous years                                                        

Retained earnings (loss) for          5 164 254       4 268 058                

the reporting period                                                            

>Total equity                       >28 244 954     >39 935 879                

4. OFF-BALANCE SHEET                                                           

COMMITMENTS                                                                    

Irrevocable commitments of           29 268 873      26 588 704                

financial institution                                                          

Issued by financial                  40 586 746      70 165 589                

institution guarantees and                                                     

sureties                                                                       

Total interest income,               28 646 966      41 324 192                

including:                                                                      

from placements of assets in            607 792       1 128 986                

credit institutions                                                            

from loans to customers (non-        25 358 536      36 985 155                

financial institutions)                                                        

from providing financial lease                0               0                

(leasing)                                                                       

from investments in securities        2 680 638       3 210 051                

Total Interest expense,              15 979 925      24 861 765                

including:                                                                      

on borrowed funds of financial          980 127       1 154 780                

institutions                                                                   

on borrowed funds of clients         12 117 438      19 659 696                 

(non-financial institutions)                                                   

on debt securities issued             2 882 360       4 047 289                

Net interest income (negative        12 667 041      16 462 427                

interest margin)                                                               

Total change in reserve for          -2 476 522      -7 349 706                

possible loan losses, loan and                                                 

similar debt, funds placed in                                                  

correspondent accounts, as                                                     

well as accrued interest                                                       

income, including:                                                              

Net interest income (negative        10 190 519      16 462 427                

interest margin) after                                                         

provision for possible losses                                                   

Net income from operations              234 006         263 240                

with securities at fair value                                                  

by profit or loss                                                               

Net income from operations               41 423          48 559                

with securities, available for                                                 

sale                                                                            

Net income from operations                6 224         -29 856                

with securities held to                                                        

maturity                                                                       

Net income from foreign                -862 260         277 922                

currency transactions                                                          

Net income from foreign                 800 903        -173 838                

currency revaluation                                                           

Income from participation in                481             971                

other legal entities                                                           

Fee and commission income             3 611 694       6 265 813                

Commission expenses                     720 761       1 006 091                

Change in reserve for possible            5 765               0                

losses on securities available                                                  

for sale                                                                       

Change in reserve for possible                0               0                

losses on securities held to                                                    

maturity                                                                       

Change in reserve for other            -253 709      -2 439 581                

losses                                                                          

Other operating income                1 025 451       2 800 967                

Net income (loss)                    14 079 736      15 120 827                

Operating expenses                    6 787 421       8 560 152                

Income (loss) before taxation         7 292 315       6 560 675                

Assessed (paid) taxes                 2 128 061       2 292 617                

Income (loss) after taxation          5 164 254       4 268 058                

Total payments from profit                    0               0                

after tax, including:                                                          

distribution to shareholders                  0               0                

(participants) in the form of                                                   

dividends                                                                      

deductions for forming and                    0               0                

maintenance of a reserve fund                                                   

Retained earnings (loss) for          5 164 254       4 268 058                

the reporting period                                                           

 

 

A. The enclosed balance of 2014 is originated from official source, it is      

authenticated by the auditor . (01.07.2014 - 1000 RUB) - Warning! The figures  

stated in the balance sheet may contain error(s).                              

 

balance                            A 01.07.2014               B               C

1. ASSETS                                                                      

Cash                                  7 567 664                                

Accounts of financial                11 477 857                                 

institutions in the Central                                                    

Bank of Russian Federation                                                     

Required reserves                     3 019 383                                

Accounts in financial                11 752 292                                

institutions                                                                   

Net investments in securities,       41 177 968                                

estimated at fair value by                                                     

profit or loss                                                                 

Net loans receivable                370 794 490                                

Net investments in securities        18 225 211                                

and other financial assets                                                     

available for sale                                                             

Investments in subsidiaries             310 128                                 

and associated organizations                                                   

Net investments in securities                 0                                

held to maturity                                                                

Fixed assets, intangible              6 434 219                                

assets and inventories                                                         

Other assets                          5 290 747                                 

>Total assets                      >473 111 771                                

>2. LIABILITIES                                                                

Loans, deposits and other             6 650 000                                

funds of the Central Bank of                                                   

Russian Federation                                                             

Liabilities to credit                42 910 720                                

institutions                                                                    

Customer accounts (non-             335 027 038                                

financial institutions)                                                        

Deposits of individuals             138 222 644                                

Financial liabilities,                  189 100                                

estimated at fair value by                                                     

profit or loss                                                                  

Debt securities issued               33 496 636                                

Other liabilities                     7 745 868                                

Reserves for possible losses          1 570 297                                 

on contingent credit related                                                   

liabilities, other possible                                                    

losses and transactions with                                                    

residents of offshore zones                                                    

>Total liabilities                 >427 937 292                                

>3. EQUITY                                                                     

Funds of shareholders                14 467 762                                

(participants)                                                                 

Treasury shares (shares)                      0                                

repurchased from shareholders                                                  

(members)                                                                      

Share premium                         9 768 757                                

Reserve fund                          4 313 214                                

Reassessment at fair value of             7 484                                

securities available for sale                                                  

Reassessment of capital assets        1 390 533                                

Retained earnings (uncovered          9 672 193                                

loss) of previous years                                                        

Retained earnings (loss) for          5 554 536                                 

the reporting period                                                           

>Total equity                       >45 174 479                                

4. OFF-BALANCE SHEET                                                            

COMMITMENTS                                                                    

Irrevocable commitments of          109 538 455                                

financial institution                                                          

Issued by financial                  61 445 751                                

institution guarantees and                                                     

sureties                                                                       

Total interest income,               25 407 328                                

including:                                                                     

from placements of assets in            545 176                                

credit institutions                                                             

from loans to customers (non-        22 519 821                                

financial institutions)                                                        

from providing financial lease                0                                

(leasing)                                                                      

from investments in securities        2 342 331                                

Total Interest expense,              14 848 836                                 

including:                                                                     

on borrowed funds of financial        1 074 829                                

institutions                                                                    

on borrowed funds of clients         11 789 760                                

(non-financial institutions)                                                   

on debt securities issued             1 984 247                                

Net interest income (negative        10 558 492                                

interest margin)                                                               

Total change in reserve for          -3 590 362                                

possible loan losses, loan and                                                 

similar debt, funds placed in                                                  

correspondent accounts, as                                                     

well as accrued interest                                                        

income, including:                                                             

Net interest income (negative         6 968 130                                

interest margin) after                                                          

provision for possible losses                                                  

Net income from operations             -422 103                                

with securities at fair value                                                   

by profit or loss                                                              

Net income from operations              -47 793                                

with securities, available for                                                  

sale                                                                           

Net income from operations              -21 849                                

with securities held to                                                         

maturity                                                                       

Net income from foreign                -155 271                                

currency transactions                                                          

Net income from foreign                 697 892                                

currency revaluation                                                           

Income from participation in                284                                

other legal entities                                                            

Fee and commission income             3 872 109                                

Commission expenses                     901 164                                

Change in reserve for possible           -9 841                                

losses on securities available                                                 

for sale                                                                       

Change in reserve for possible                0                                 

losses on securities held to                                                   

maturity                                                                       

Change in reserve for other           1 069 104                                 

losses                                                                         

Other operating income                1 269 452                                

Net income (loss)                    12 318 950                                 

Operating expenses                    5 660 072                                

Income (loss) before taxation         6 658 878                                

Assessed (paid) taxes                 1 104 342                                

Income (loss) after taxation          5 554 536                                

Total payments from profit                    0                                

after tax, including:                                                          

distribution to shareholders                  0                                

(participants) in the form of                                                  

dividends                                                                      

deductions for forming and                    0                                

maintenance of a reserve fund                                                  

Retained earnings (loss) for          5 554 536                                

the reporting period                                                            

          

                                                    

Ratios                                                                           2012      2013

                Current ratio               n/a     n/a

                Quick ratio                 n/a     n/a

                Average Collection          n/a     n/a

                Period                                 

                Payables turnover           n/a     n/a

                Period                                 

                Debt ratio                  n/a     n/a

                Equity to total assets      n/a     n/a

                ratio                                  

                Funding ratio               n/a     n/a

                Return on sales             n/a     n/a

                Return on Assets            n/a     n/a

                Return on Equity            n/a     n/a

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.61.85

UK Pound

1

Rs.97.01

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIS

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

 

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.