Russischer Bankenmarkt: Wer kennt sich aus? - 500 Beiträge pro Seite

[HosenRunter]

Hallo,

ich interessiere mich für den russischen Bankenmarkt. Wer kennt sich hier aus.

Kann jemand ein paar Hardfacts nennen? Z.B. :

1. Gibt es bereits privatisierte Banken? AG`s?
2. Welche Banken sind gelistet?
3. Anzahl und Größe der Banken?
4. Strategische Ausrichtung?

Danke schonmal

[HosenRunter]

Ich habe eine gefunden, die auf den ersten Blick interessant aussieht. Kennt die jemand?

20.05.2003 - 08:00 Uhr

Serie russische Aktien: Sberbank

Sberbank - die unbekannte Top-Bank

Die Rubelabwertung des Jahres 1998 brachte eine Vielzahl der russischen Kreditinstitute in erhebliche Schwierigkeiten. Davon hat sich die Branche bis heute nicht erholt. Auf dem Papier gibt es immer noch etwa 3.000 russische Banken - die allermeisten sind faktisch jedoch bankrott. Nicht so die Sberbank - sie gilt als solide Säule in der Ruine des russischen Kreditwesens.

Seit Jahren will die russische Regierung den Finanzsektor reformieren, kommt allerdings nur schleppend vorwärts. Im allgemeinen heißt es darum, auch die Aktien russischer Banken zu meiden. Eine Ausnahme von dieser Regel gibt es allerdings: die Sberbank. Sie ist die größte russische Bank und besitzt ein landesweites Netz an Filialen, in denen über 70% aller russischen Sparguthaben verwaltet werden. Diese herausragende Stellung hat das Institut vor allem der Tatsache zu verdanken, dass sie als einzige russische Bank über einen Einlagensicherungsfonds verfügt, durch den der Staat den Werterhalt der Ersparnisse garantiert.
Vor etwa einem Monat hat die Sberbank Zahlen nach internationaler Rechnungslegung für das Jahr 2002 veröffentlicht. Diese sind durchaus beeindruckend. Die Bilanzsumme ist gegenüber dem Vorjahr um weitere 33% gesteigen, wobei die Ausleihungen an Unternehmen um 30% und die an Private um 66% gestiegen sind. Auf der anderen Seite wuchsen auch die Sparguthaben um gut 34%. Die Einlagen von Privatpersonen bei der Sberbank betragen jetzt über 21, 8 Mrd. Dollar, die Firmeneinlagen 6,9 Mrd. Dollar. Der Nachsteuergewinn stieg von 601 Mio. USD um 67% auf eine runde Milliarde. Auch die bereits vorgelegten Zahlen für das erste Quartal 2003 sind außerordentlich erfreulich, denn in den ersten drei Monaten dieses Jahres konnte man einen Nettogewinn von 411 Mio. USD verbuchen.

Zwar erlebte die Aktie in den letzten 12 Monaten bereits einen rasanten Kursanstieg, doch ist sie nach wie vor viel zu billig, vor allem wenn man sie mit osteuropäischen Vergleichswerten oder gar mit Banken in den entwickelten Ländern in Beziehung setzt. Auch wenn das KGV bei Banken nicht der sicherste Vergleichswert ist: mit 3,4 für 2002 und erwarteten 2,5 bis 3 für 2003 fällt es für die Sberbank sehr niedrig aus.

Die Sberbank gehört zu den Aktien, die noch kein ADR-Programm besitzen. Man kann diesen attraktiven Wert also nur in Russland erwerben. Das Tickerkürzel im russischen RTS-Handel lautet: SBER. Wie die meisten russischen Unternehmen verfügt auch die Sberbank über eine informative



Eine interessante Perspektive ergibt sich für die Bank auch in der Zukunft. Etwa 60% der Aktien gehören nach wie vor dem Staat. Bis Anfang dieses Jahres durften Ausländer nicht mehr als 12% an der Bank halten. Diese Vorschrift wurde mittlerweile kassiert, so dass sich möglicherweise demnächst ein ausländischer Investor für die Sberbank interessiert. Sollte es zum Einstieg eines Investors kommen, würde dies dem Kurs der Aktie noch einmal einen kräftigen Schub geben.

Quelle: http://www.dmeuro.com/dmwwwangebot/fn/dmo/SFN/builddm/CN/d/C…

[HosenRunter]

Habe ein bisschen gestöbert und siehe da:

May, 2003
Exclusive interview of Mr. Andrei I. Kazmin, Chairman of the Board and CEO of Sberbank, to the Editor-in-chief of The Banker magazine about reforms and prospects in the Russian banking sector.

Sberbank stays strong amid market change

How do you see reform of the Russian banking sector and what is the structure of the sector today?

Banking reform in Russia has been a disputed issue for several years with many different interests competing. There is a strategy, however, for developing the banking sector that was signed at the end of 2001 for a four-year period. The emphasis is to create a more competitive, modernised banking system that will be adequate for the economy and more transparent.

But nobody is satisfied. There is a lot of division over the number of banks. If we have a market state, markets will decide how many banks will be needed. There is a lot of talk about eliminating Sberbank from the banking landscape because it is a monopolist which is suffocating the sector. But this is not the case. We will be glad to have competition.

Our share of private deposits has fallen from 85% in 1998 to 67% today, we sec this as a natural process, we don`t see a problem with private banks gaining strength and winning market share.

The banking assets breakdown at the start of this year show Sberbank (27%) and the 20 large banks (35%) accounting for 62%, or the hulk of bank assets. The medium-sized banks (265 banks) account for a further 25% of assets while the small banks (969 banks) account for just 7%. The banks with 100% foreign capital (28 banks) account for 6% of assets.

What is the ownership structure of Sberbank and what is the size of its key market segments?

Sberbank is now a joint stock company and is the only Russian bank whose shares are traded. Almost two-thirds of the voting shares of the bank (63.8%) are held by the Central Bank of Russia (CBR) while 36% of the shares are held by over 200,000 investors. About half of these, or 18% of the bank, are held by foreign investors, mostly US corporations or US investment funds. Sberbank has the highest foreign participation of any Russian bank.

The CBR will keep its share in Sberbank in the forthcoming years. But withdrawal from Sberbank`s capital and possible changes to its ownership structure may be considered after S….

It remains the dominant player in the retail deposit market with a total 66.8% share at the end of 2002, compared with 71.5% at the end of 2001. The bank accounts for 78.2% of domestic currency deposits and 48.2% of foreign currency deposits. This deposit base stems from the national network of over 20,000 branches spreading from St Petersburg in the west to Vladivostok in the east, the largest of any bank. A major internal restructuring of the bank was completed in 2002 and the branch network has been reduced significantly from the 36,000 branches in 1996.

In lending, the bank`s share of total retail ruse in 2002 to 46.1% while total share of lending to corporates is slightly down at 30.6% bringing the aggregate lending market share to 31.9%, much the same as 2001.

Our share of the corporate funds market and the government equity market both rose modestly to 15.2% and 19.5% respectively at the end of 2002.

The bank has enjoyed a government guarantee for private savings held with it; what will be the impact of a general deposit insurance scheme for all banks that is currently expected in 2005, if approved by the Duma (parliament) ?

The guarantee that has existed for us and also for Vneshtorgbank has been a verbal guarantee. We know there is a problem over the lack of guarantees for banks and we strongly support an insurance system for all deposits, but with one footnote. We are for a unified requirement for all banks but we are against a payment into just one basket. While we account for two-thirds of deposits, mainly from pensioners and lower-paid citizens, the second largest deposit-taking bank accounts for only 2%; we object to being obliged to pay into one account.

We are being forced to cover the risk of all banks and we ar… Producing such a conflict is wrong. We are for unified requirements for deposit insurance, paying the same as other banks, but we want separate access for Sberbank depositors through another basket to reflect the weighting of their deposits.
Our approach raises very sensitive issues inside the Duma, the proposed law as it stands at present has only one basket, we oppose that and want two baskets. The odds as I see it are 50/50 that the law will be accepted.

What is the strategy for Sberbank not only in retail but in other areas such as lending to corporates, small and medium enterprises (SMEs) and operations abroad?

We would be glad to have competition across the country but it requires efforts from the government and the CBR. It is very costly to open branches in small villages and it is likely to be more profitable to open up in cities, so providing banking coverage across the country presents some big problems. Maintaining a broad national network across the country is not easy, this is a big problem. And this will not be solved by foreign banks coming in since the foreign banks will not want to go to far away places.

In terms of lending, we have increased our activities towards corporates and want to expand further, working with the top 200 companies and we are keen to increase our involvement with SMEs where we have a 30% market share. We also want to develop more private borrowing and lending activities which are important as they generally have not been available.

Outside Russia, we do not have plans to start businesses abroad or go into joint ventures with foreign banks or establish representative offices. We have enough to do at home and while we have an interest in syndicated loans and have good relations with 260 correspondent banks worldwide, we have no interest in minority stakes abroad at present.

How do you see Russian banking in five years` time?

A lot depends on whether the internal liberalisation of the banking sector will be accepted or not. The issues of having high reserves, the high level of taxes (tax on banks` profit shrank from 43% to 24% in 2002) and the number of different accounting standards are factors, for example, that need to be resolved. For 2004 there will be both Russian and international accounting standards (IAS), but this transition for banks to LAS standards involves a lot of staff and a lot of cost (Sberbank has had IAS accounts since 1996).

Also important is foreign currency liberalisation. At present the Duma allows companies to open accounts and borrow from foreign banks abroad without informing the domestic monetary authority in Russia. This carries great dangers for the banking system unless this information gap is closed. So unless this changes, the foreign banks will not be interested in the region, only in the big exporters. We are not against foreign participation in Russia, in fact, if the position remains the same it will be a danger to both domestic and foreign interests, namely all domestic and foreign banks, it will lead to greater capital outflows and that is not in the interests of the country.

The inflow of foreign capital of good repute is essential for the development of the banking sector. But here lies the problem. The big exporters may get lower pricing abroad but that is not good for the credibility of the banking sector or the country itself.

There must be some balance and it is interesting that there is a struggle in the Duma between those supporting the position of the Association of Russian Banks and those supporting the big exporters or those Russian banks controlled by the big groups. There must be some compromise.

How do you see the strategy and performance of Sberbank in the coming years?

Our focus is on providing a range of universal banking services, covering personal and consumer finance to corporate and investment finance and we will continue to pursue this strategy. Efficient lending to the real sector has been, and remains, the major objective of the bank. The bank continues to expand, with total assets for 2002 growing to $34.2bn from $25.6bn in 2001 (according to Russian accounting standards). Returns have also been well ahead of the average with return on average assets hitting 3.2% in 2002 compared to 2.6% in 2001 while return on average equity dropped slightly to 28.1% in 2002 compared to 31.5% in 2001.

[monemvasia]

TOLL!

BIST NUR EIN BISSCHEN SPÄT DRAN!

IST FAST SCHON ALLES GELAUFEN!!

[HosenRunter]

@4

Na, ja, wer weiss das schon. Ich spekuliere auch eher darauf, dass bald die ausländischen Banken zuschlagen werden.