This year Svyaznoy Bank intends to find an outside investor that would provide additional capital. The lending institution said so in its report released on July 2.
"The bank's development strategy includes the option of drawing an outside investor for the purpose of extra capital. Taking the investor onboard will allow the bank to meet its capital adequacy ratio and implement its revised development strategy. If the bank adds Rub 8.3 bln to its capital until the end of 2015, then its development strategy will allow it to maintain the capital adequacy ratio (N1.0) at 10.5%," the report runs.
As of April 1, 2015 the lender's capital adequacy ratio (N1.0), core capital adequacy ratio (N1.1) and core capital adequacy ratio (N1.2) were below statutory thresholds (10%, 5% and 6%) as they equaled 9.2%, 4.9% and 4.9%, respectively.
The bank also reported that this year it plans to execute a strategy to maintain its operating model and retain key competences in primary areas of banking business. This strategy suggests that the bank's opex should be cut by over Rub 1.5 bln compared to 2014, no new loans should be granted, the monthly outflow of customers should be maintained at no higher than 4%, and the monthly outflow of liabilities should be Rub 800 mln maximum.
The report shows that last year the bank experienced a net cash outflow of Rub 8.11 bln.