The chairman of board of joint-stock commercial Financially-trading bank Victor Hvorostovsky, age - 33 years, in 1984 has finished the Leningrad financial and economic institute on a speciality «the Finance and the credit», is married, has two children, hobby during free time from work - productive leisure.
By third anniversary Финторгбанк "has acquired" the capital, in 35 times the starting authorised capital exceeding it.
БиФ: In Moldova almost two thirds of banks - small. Whether they can survive in the conditions of a bank competition, which, by the way, any more behind mountains?
Century Х: I consider, that concept "large-small" banks - the phenomenon of today. Tomorrow the situation will exchange also small banks can become large, and large in general to disappear. That is why such division, in my opinion, conditionally.
The concept large bank does not mean yet «strong bank», and the small bank does not mean «weak bank». If the financial institution of pays back, rendering scale of the services necessary to clients and to it means for existence, it - the normal phenomenon suffice.
I agree, that today it is easier to render the wide list of servants to large banks, at which sufficient standard capital. We in the problem at the given stage see in increasing this indicator.
БиФ: the World bank grants to a private sector the loan at a rate of $35 million. Commercial banks which will win competition НБМ will be involved in its distribution. According to experts of the international financial structures work with the given credit could АКБ "Moldova-Agroindbank", АКБ «Викториябанк» and KB «Мобиасбанк». Such choice is how much fair?
D, an estimation foreign experts is quite fair. We yours faithfully concern these banks.
БиФ: you could name the reason on which in a cohort of three these banks is absent АКБ «Финторгбанк»?
V.H.Na surfaces lay two reasons: absence of the international audit and filial system. As to the first condition at us the agreement on carrying out of the international audit following the results of bank work in 1995 is entered already into. We hope, that after that audit bank will admit to work with external credits.
БиФ: Financially-trading bank - youngish, but stable enough financial institution in Moldova. Some words about bank formation …
V.H.Litsenziju has received bank on July, 1st, 1993 - number 50. The bank started with ставным the capital in $50 thousand, and third anniversary marks with the standard capital in 8,15 million pour ($1,7 million).
In the first day of the existence the bank had only a contract on a premise in which the bank subsequently has settled down. Now we have perfectly equipped cash and operational halls, currency cash desk, we open branch in Бэлць.
БиФ: For many banks till now pressing question of rent of premises at the state. And how at Финтогрбанка with it business is?
P premises the state has met bank and has put in pawn it as the share in the authorised capital. It was the positive moment in bank development. Now we put enormous means in reconstruction of premises. The size of the state share does not exceed 14 percent in the authorised capital of bank. It taking into account joint-stock companies at which there is a state ownership - insurance company "Асито", joint-stock company "Крикова", joint-stock company "Тутун".
Shareholders of bank are also joint-stock company "Инкон" which annual turnover makes about 200 million DM, the Kishinev combine of bakeries, carpet factories, joint-stock company "Молдгазавтосервис". In our bank there are no very large shareholders who would possess more than 20 percent of actions.
БиФ: It is good or bad?
V.H.Dumaju that is good, поскоку absence of large shareholders excludes prevalence of interests of one shareholders over others. In this respect the bank has received certain independence that allows us to avoid work «under dictation» one shareholder.
БиФ: Creation on the basis of joint-stock company "Тутун" which is your shareholder, joint enterprise with the foreign investor with the authorised capital in $100 million is an acquisition for bank?
V.H.Eto enormous acquisition, but it and enormous money which are necessary for качественног7о service of such client. At present we yet have no such big resources which has, for example, АКБ «МолдоваАгроидбанк». That is why to us while early to serve clients, the requirement for which disposable operations makes 30-40 million pour.
БиФ: That can offer Финторгбанк to three categories of clients: to potential foreign investors, safe in the financial relation to domestic businessmen, and also the physical persons who have managed during this hard time to save of 5-10 thousand pour "for emergency"?
V.H.Znaete, to the foreign investor I would advise to work more closely with financial structures. And it is not obligatory with banks, but also the investment companies and funds.
At German and French bankers with whom we actively carry on recently negotiations, the logician simple - the above the income, the above and risk. Therefore they carefully analyze a situation before to begin teamwork with the Moldavian banks.
At the given stage of time they are more inclined to classically more protected investments, for example, in the state securities where there is a government guarantee.
The western bankers surprises, how the financial capital brings return at so strongly pronounced stagnation of manufacture in the country. It is interesting to them, what commercial operations allow borrowers to fulfil high interest rates.
Potential foreign investors carefully get acquainted from balances of bank. They look at the Moldavian economy through a balance prism. They are surprised with balance structure, tax base, expenses which are included into the cost price, and also deductions of banks in various funds.
Our foreign colleagues do not understand as in such conditions when, say, the mortgaging right can be realised only after some years, banks can keep afloat, moreover receive profit.
БиФ: It turns out, that from their point of view the Moldavian banks for work in our conditions need to pay factor for harm.
On the one hand, we are put V.H.Znaete in severe constraints which in general we accept and we support, as their performance allows bank to survive, and on the other hand, we work in conditions нестыковки sets of statutory acts, that, actually, puts cups in difficult position.
I know, that the enterprise is deprived circulating assets and it, according to time position about the credit, it is impossible to finance. All understand, that balances of many enterprises or zero, or they "hang" in a kind проиндексированных a fixed capital.
Under the international standards, such enterprises cannot be financed. But the real life forces us to run risks and finance them. We are compelled to search for such variants, using which, registration of credits would not cause the big claims from party NB.
All it is clear, that there are omissions in the legislation which lead to a non-return of credits. Business not in an estimation banks of favorable and risky borrowers.
БиФ: What, in your opinion, constrains today development of banks?
V.H.Vo much development of banks constrains structure of expenses which join in the cost price of bank services. For example, if we need branch we are compelled for this purpose either to buy a building, or to build it anew, or to adapt an operating premise. And enormous means for technics, furniture, communication are for this purpose necessary. All of them "lay down" on so-called funds which the bank should generate.
Why things which are absolutely necessary for bank development, instead of for personal needs of its employees, "lay down" on our funds? After all all over the world these means concern expenses. Indicators of incomes are then deduced, expenses and profit and the bank pays the income on profit.
The international experts are amazed, how under such "draconian" conditions banks manage to buy technics and to develop. Though, the mythical privilege for acquisition of new technics, basically, exists. However, it is possible to take advantage of it only in the conditions of presence at bank of zero funds. And what normal bank in present conditions will finish the funds to zero?
The objection is natural, that at carrying over of the given expenses on expenses suffers losses the state budget. However, to generate profit, sufficient for realisation of expenses for modernisation, we should increase «маржу» between attraction of resources and their placing. It will lay down on expenses of borrowers and will allow not to pay to (reduce) taxes in the last.
The second negative for economy of the state and, in particular, for banks reaction from the given step - подстегивание inflationary processes, increase in a share of transient credits, absence of possibility of crediting of real investment programs.
БиФ: It as though justifies occurring opinion on superincomes of commercial banks …
V.H.Dumaja about stability of bank, its competitiveness, we hold маржу at level which, on the one hand, is comprehensible to bank, and with another - for borrowers of credits.
It is comprehensible to bank, and with another - for borrowers of credits.
At meeting shareholders of bank have declared, that superincomes of bank activity are not necessary to them. They require in stably working and высоколиквидном financial institution more.
Fortunately, our shareholders are uniform with board that the bank should not chase superincomes. We understand, that as soon as погонимся behind superprofits, there and then we will stumble on superlosses that will lead to loss of profits of shareholders and money of clients of bank.
БиФ: It is necessary so to understand, that the board of bank headed by you has received from meeting of shareholders of "carte blanche" for 1996-1997 which is an original reference point in bank work. What does it provide?
V.H.Predusmatrivaetsja realisation of the fifth issue of bank at a rate of 650 thousand pour. It is pure «подстраховочная» the issue accepted for the purpose of finishing of the capital of bank till the size, established by National bank for possession the General currency licence (the double size of the minimum cumulative capital - 8 million pour). In the subsequent the sixth issue is planned also. It will be already larger.
БиФ: How you consider, whether really for KB of Moldova to have by 2000 the authorised capital at a rate of five millions ЭКЮ?
Century Х. Within forthcoming five years to our banks quite under force to have the standard capital which size would leave 30-35 million pour.
БиФ: Tell, who today's clients Финторгбанка?
V.H.My is served all clients who are engaged in normal business. And, basically, we want and we aspire to be universal bank which carries out all kinds of bank operations.
The aspiration to serve various clients has also purely economic substantiation. So, big clients limit very considerable money resources and are высококредитоемкими. However their means "settle" in bank for short term.
On the other hand, the small client with its insignificant rests on accounts, but in a considerable quantity also forms base of credit institution.
БиФ: In Финтогбанке deficiency of extra means is observed or it is difficult to you to satisfy demands of numerous clients for reception of credits? Whether easily today to bank to find potentially healthy borrower of credits?
Century Х. Now in bank will reach balance when resources meet requirements of borrowers. It is an optimum situation. And if we feel, that at us the number of good demands for reception of credits we will work over increase in resource base grows.
And here two годя back at us prevailed resources over number of borrowers of credits that spoke insufficiency of clientele. Финторгбанк grew together with the clients, from which we raised a part in literal sense of this word from zero.
Demand for credits can be increased repeatedly, but in it at all does not mean, that we will increase credit investments indefinitely. In any case we grant the loan only when thoroughly we get acquainted with the business plan of the borrower. And in general to hold money without movement - it is unprofitable.
Credits are the important component of work of bank, but not the basic. Credits are as greasing in the course of work. After all if to be switched to work only with credits already in half a year on bank it is possible to give up as a bad job.
Now Финторгбанк there is more than half of incomes receives from other operations. The bank tries to direct resources not only on credits, but also for other segments of the financial market of the country that allows us to avoid однобокости in work.
БиФ: "Problem" and "hopeless" credits, what their parity in your bank?
Century Х. Now in the category "problem" we have translated even those credits which those and are not. It is made on methodology НБМ. If to take an indicator of credits with the delayed terms of return to "hopeless" it is possible to carry three percent from a total sum of the given out credits.
БиФ: How much your way tough policy НБМ?
V.H.Politika НБМ rigid, but necessary. Primary construction of the work according to requirements НБ has allowed us to observe without excessive efforts and a new package of specifications of the central bank of the country, accepted in the end of 1995. The result - for three years Финторгбанк never concluded with НБ memorandums.
We are excited today not with policy НБМ more - it is already predicted, and the legislation and tax procedures. Basically, the rate at a rate of 32 percent can be comprehensible. And here as to затратной and profitable parts in activity of banks changes, which here are desirable, I am assured, would give the chance to banks to develop and reduce their backlog from level of foreign banks.
Bewilderment and special "love" of legislators causes: rent for banks with factor «3» - probably, we do the big harm of ecology; taxes to the state securities are only at banks.
БиФ: the Problem of return of HARD CURRENCY to Moldova. Today not so pressing question about the sum of these means, however the reasons which interfere with transfer of this money in the country.
J to express the opinion on this problem, I wish to ask: «And what, we have a respect for the property?» Unfortunately, it is not present. And time so what normal person will translate the capitals for the purpose of property acquisition in Moldova?
We face elements of disrespect for the property continually. At the majority of the population the consciousness, that everything, that at us public, and so, neutral prevails.
Citizens pay taxes, and their properties by the state is not protected. Here when the state can protect the property of the citizens then also money begins to come back, and is faster, will "not leave".
If someone also managed to steal one million dollars it never under the surname will return them to Moldova. At the best these means will return under the pretext of any foreign «корпорейшн». In my opinion, today it is possible to bring an attention to the question on return. But more pressing question about ability to respect and protect the property.