The Bank “FC Opening” the second time in 2020 decapitalized child Rosgosstraha (GCF-Bank). Required capital for loss-making Bank aggressively increase its assets and market share of car loans to be in the top 5. Experts fear that the rapid growth of the business will result in distressed debt, especially against the background of the pandemic and falling incomes. The leaders of car loans with skepticism assess the potential of RGS Bank.GCF-Bank plans to place an additional share issue in favor of “FC Opening”, the message of the Bank. This time the amount of capital increase will be 5.6 billion rubles, the share capital may grow almost twice, and equity of 38.5%. Now they account for 5.9 billion and 14.7 billion rubles. respectively. The parties expect to complete the process of additional share issue in August. In the March issue of securities in favor of the main shareholder allowed GCF-Bank to attract capital RUB 6.6 billion of Such aid required to implement the strategic goal of transformation from a captive Bank GK “Rosgosstrakh” one of the leaders in the market of car loans. By 2022 GCF-Bank plans to increase its share in this market to 10%. For comparison, the three leaders — “Rusfinance”, “Cetelem” and VTB — shares of 12.2%, 12.0% and 11.5 per cent respectively. According to Frank RG, on June 1, GCF-Bank took the 20-th place in the portfolio of loans with a market share of 1.4% and a portfolio of RUB 13.5 bn. According to experts, the planned recapitalization will allow the Bank to expand the business at least several times.The Chairman of the Board of the GCF-Bank Alexey Tokarev told Kommersant that the next goal is to be in the top 5 on the disbursements of loans. According to him, since the beginning of the year, the loan portfolio grew by 2.2 times. Retail planned “active growth” by expanding the product line, including in the card direction for the development of sales partner network, developing sales models, without visiting the Bank’s office, he said. In the corporate sector — “multiple of” growth through expansion of product line special financing programs and a range of partners on Federal projects.In “FC Opening” noted that RGS-Bank “an aggressive strategy for asset growth, which requires adequate regulatory capital.” Top Manager of one of leading banks car loans have appreciated the task of the GCF-Bank to achieve 10% market share as “more than difficult”. Now the Bank does not offer any new products and bringing innovations to the market, and “just be aggressive “buy” their market share”, while overpaying for remuneration to the dealers, he said. At the same time, it is important how the situation will develop with other banks, because care of any Bank is the ability to increase their share of the remainder, said the source “b”.Aggressive growth will lead to higher delay, warns m��ADSI Director of ratings of credit institutes “Expert RA” Vyacheslav Putilovsky. While RGS-Bank acts carefully enough, “investing in their own infrastructure, build their own akorede by linking dealers, various service organizations, related to business, individuals, insurance companies and others,” he says. “We can not exclude that the Bank is considering options for inorganic growth of the business through purchases of high-quality portfolios of small banks”,— says Director of Finance of the NKR Mikhail Doronkin.Furthermore, the Bank have to take losses. In 2019, the company, its net loss amounted to RUB 1.5 billion For the first quarter of 2020, the net loss of the company amounted to RUB 3.3 bn In his report says that to reach a positive financial result, the Bank plans to 2021, and by the end of 2022 — to receive net profit in the amount of 5.5 billion rubles..Olga Cherenkova
