Togliattikhimbank is a small regional bank owned by entrepreneur Sergey Makhlay. The bank mainly focuses on providing loans to its corporate customers and serving their employees. The banks own funds account for a considerable portion of the resource base.
Togliattikhimbank was incorporated in September 1993 with participation of Togliattiazot (shortly after the chemical companys privatization) and also a number of chemical producers based in Togliatti. Since 2000 the lender has operated as a closed joint stock company (CJSC). The banks sole shareholder is Sergey Makhlay (100%), the son of Vladimir Makhlay, a famous businessman and founder of Togliattiazot*. Sergey also owns 74% of Bank for Development of Technologies and Savings (DTS-Bank). It should be noted here that criminal proceedings against Togliattiazot board chairman Vladimir Makhlay and Togliattiazots executive director and Togliattiazot Corporations vice president Alexander Marakov, which lasted five years, were terminated on April 20, 2010.
The banks customer service network comprises 4 divisions and 36 ATMs that support plastic cards of local payment system NCC and international payment system Visa. The banks corporate customers are Togliattiazot, Kuybyshevazot, Aviakompania Samara, Volgotsemmash, AvtoVAZ, Automobile Financial Corporation, Transammiak, Azotremmash, Togliatti TPP, Togliattikhleb, Elzas, Rodnichok, Kontaz, Altus, Vikingi, Autoraid, Servisneft, etc. All in all, the banks clientele is over 2,000 businesses and more than 45,000 households.
The credit portfolio accounts for nearly 80% of net assets, with 95% of all loans provided to commercial businesses. The securities portfolio forms roughly 5% of net assets. The resource base is fairly well diversified by financial instruments, but operations with related parties and risk concentration are high. A quarter of liabilities falls to corporate customers served by the bank and 15% of liabilities are funds of households. On the inter-bank lending market the bank is a net lender, with a light turnover. The lender generated Rub 62.9 mln net profit in 2010 (the bank reported a Rub 31 mln loss in 2009).
Togliattikhimbank steadily holds positions in the Top 20 of Volga region banks, although it is far behind its closest rivals such as Gazbank, Bank Solidarnost, National Trade Bank and Fia-Bank.
The Supervisory Board: Vladimir Makhlay, Andrey Makhlay, Sergey Makhlay, Alexander Popov and Alexander Makarov.
The Management Board: Alexander Popov (chairman), Sergey Popov, Igor Khoroshev, Alexey Denisov and Irina Akchurina.
* Togliattiazot Corporation is comprised of the following companies: Togliattiazot, Volgotsemmash, Azotremmash (Togliatti), Transammiak (the Togliatti-Odessa pipeline), the Togliatti Institute of the Nitrogen Industry, agricultural and consumer product manufacturers. Over 90% of the corporations products are sold on external markets. Based on estimates of various experts, the corporations annual turnover ranges from $250 mln to $600 mln. The corporations largest subsidiary (Togliattiazot) is the worlds leading ammonia producer (around 10% of the global market), which has operated since 1979. The concern turns out ammonia, carbon dioxide, carbamide, basalt fiber, methanol, etc. The companys beneficial owners are executives led by president and board chairman Vladimir Makhlay (over 76%), other individuals (Russian citizens, 15%) and Uralkhim (9.73%).
Vladimir Makhlays empire, apart from Togliattiazot Corporation, consists of a number of production and investment companies based in Russia, the United States and Switzerland. Business magazine Finans estimates his net worth at $830 mln (2010). Hide