Delay under license

Sberbank of the massive sales of retail debt auctioned portfolio of bad loans by 5.6 billion rubles. Requirement for participation in the competition - the presence of a potential buyer of the banking license - is unique for the Russian market. On such an unprecedented step Sberbank went to avoid legal risks due to appear in late June of the Supreme Court to allow the sale of debt collectors citizens only in exceptional cases.

The sales of the largest retail bank distressed debt in the normal mode (so far limited Sberbank pilots) "b" said vice-president of the Savings Bank Svetlana Sagaidak. According to her, the competition for the implementation of debt individuals (except for auto loans and mortgages) was announced on October 29, on sale is 21.4 thousand loan agreements for a total of 5.6 billion rubles. Results will be announced on November 30. "Requirement for participation in the competition for the acquisition of these debts is the fact that the potential buyer of the banking license" - indicates Mrs. Sagaidak. This requirement is due to release in late June Plenum of the Supreme Court's ruling that the bank has the right to sell the debt individuals only organizations that have a banking license, unless otherwise stipulated in the contract with the lender, she said. Actions Savings Bank - the first precedent so hard execution of the order of the plenum. So far, banks have either postponed the sale of debt, taking a wait (UniCredit Bank, see "Kommersant" on July 6), or chose to simply write off the debt from the balance sheet (Raiffeisenbank, see "Kommersant" on 21 September).

Sberbank reinsured twice. He introduced the term the mandatory presence of the buyer of the banking license, in effect, abandoning the direct sale of debt collectors, despite the fact that in all the credits offered for sale is the borrower's consent to assign the debt to third parties.

"We looked at the legal aspects of decision and concluded that the sale of debt non-banks is possible only if you have a separate agreement with the borrower of the assignment of its debt to a third party," - explained Svetlana Sagaidak. Such severe restrictions on the sale of bad debts Sberbank uses only for the retail portfolio. By another 1.9 billion rubles. micro-entrepreneurs (of 1.63 thousand contracts) are also for sale, held a separate competition in which there are no restrictions in the form of the mandatory presence of a banking license, says Ms. Sagaidak.

Although the decision to sell the debt to banks only narrows the range of possible buyers, eliminating the main buyers - collectors, reduce the price realized portfolio Sberbank does not intend to. "We have set ourselves the minimum price based on the terms of profitability and economic viability, below this level, we will not sell the debt, as more will collect themselves," - says Ms. Sagaidak. According to her, the Savings Bank already has applications from two banks to participate in the competition, are expected to request another two or three candidates. The sale price of the Savings Bank not disclosed, but, according to "Kommersant", at least, for which Sberbank is ready to sell troubled retail portfolio - 4.71% of its volume, or 263.7 million rubles.

According to the participants collection market is higher than the average rates, which now account for 1.5-3.5% of the portfolio, but in the case of the little well developed debt Sberbank and the proposed level is likely to be able to realize the bank portfolio for a specified price. "Debt Savings interesting, of course, the first thing they will claim the banks with affiliated collection agencies" - says CEO agency "Center YUSB" Alexander Fedorov. Among the major players such as at least three. In the Alpha Group is a collection agency, which grew out of the department to collect bad debts at Alfa Bank, - "Sentinel credit management", the bank "Orient Express" is affiliated with it through the shareholders' First Collection Bureau ", a group of" Life " parent bank which is Probusinessbank - Collection Agency "Life." Affiliated collection agency is also in Rosbank - debt collection agency, but now it is in the process of selling (see "Kommersant" on 15 October).

Representatives of these agencies and the banks declined to comment on his participation in the tender Sberbank. But, according to Mr. Fedorov, these players are quite capable to redeem exposed Sberbank portfolio, especially as to build up reserves for possible loan losses will have only the amount paid for it. Those players who follow the example of the Savings Bank, have more complex, experts say. Savings can count on demand for your bad debts on an acceptable price, because due to the scale of the business is the largest supplier of bad debts on the market: it accounts for over a third of all loans to individuals, issued by banks (Sberbank's market share in the first three quarters of 2012 - 33.5%), the volume of loans to individuals on November 1 - 2.45 trillion. In addition, the portfolio of bad loans Savings can expect higher returns, as opposed to other players, several times successively implement the same credit, he did not get to the collectors, and much less sophisticated.

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