The difficulties of the Bank “Peresvet” could occur for several reasons, among them the panic of investors, partly due to the inability of the Bank to react to negative information, possible distortions in the financial statements and dubious clients. About it “lente.ru” reported experts and sources in the banking market.
Representative of rating agencies RAEX noted that the introduction of temporary administration in the “Peresvet” Bank of Russia could push either revealed extensive violations of the terms of the reporting, or selective satisfaction of individual preferred creditors to the detriment of others. The Agency RusRating said that the Bank was the victim of the growth of reputational risks, which happened outflow of investors.
Another factor that influenced the position of “Relight” became the weak interaction with the media, said a source familiar with the work of the press-service financial institution. She failed to respond to the wave of negative information, and to convey to the public their own position.
In addition, some clients of Bank “have caused confusion among the regulators and shareholders,” said a top Manager of one of large Russian banks, familiar with the activities of “Peresvet”. He admitted that the owners of the Bank was dissatisfied with the work of managers — a questionable choice of borrowers, rapid expansion of the loan portfolio.
On 21 October, the Central Bank introduced a Bank “Peresvet” a temporary administration for a period of six months.
October 18 “Peresvet” limited cash withdrawals due to the increased demand for withdrawals from accounts and time deposits. “The Bank is not experiencing difficulties with liquidity and guarantees the fulfillment of all its obligations”, — stated in the credit institution. There was excitement following reports that the Chairman of the Board of Bank Alexander Shvets has gone missing and his whereabouts are unknown for several days (then in “Peresvet” said Shvets undergoing treatment in the hospital in Moscow, therefore temporarily unable to perform the functions of Chairman of the Board).
According to the Fitch rating Agency from October 4, the analysis of the 100 largest customers, “Peresvet” has shown that “for many borrowers, there are some signs of affiliation with each other or with the shareholders or management of the Bank.” Fitch expressed concern about standards of corporate governance of the organization.
Bank “Peresvet” is available from October 1992. More than 49 percent of the shares belongs to the Russian Orthodox Church, another 24 percent the chamber of Commerce. For the first half of 2016 occupies 41st place by assets.
