Sberbank on the basis of its activities in 2017, which was largely secured by the sweeping of the country’s financial sector by the Russian Central Bank headed by Elvira Nabiullina "recovery" – Destruction of competition in the domestic financial market), will pay a record dividend, incl. to its non-resident shareholders more than $ 1 billion.
Financial speculators of all stripes, standing, applaud the Nabiullina-Gref tandem. As a result of the consequences "Hurricane Elvira", when the nationalization of the financial sector of the country reached a level of 70% (Sberbank – more than 50), and the client mass with its cash liquidity collapsed in the so-called. state-owned banks, "Gref’s office", as the main beneficiary "recovery policies" (read – oligopolization) following the results of the previous year (the decision of the Supervisory Board of the credit institution) will allocate 271 billion rubles for dividends.
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Half of the amount will be received by the Central Bank as a shareholder owning a controlling stake, the second half will be given to non-resident minority shareholders. The dividend will be 36.2% of Sberbank’s IFRS net profit, which grew by 38% in 2017 and amounted to 748.7 billion rubles.
In the next three years, Sber plans to increase the share of net profit, which will be sent to payments to shareholders, to 50%. At the end of last year, Sberbank presented its development strategy until 2020, within which the bank’s net profit should increase to 1 trillion rubles.
From rainbow relations, let’s move on to the most interesting – the capital structure of the largest Russian bank, which many people think, without going into the essence of what is happening, the state financial institution.
Indeed, the Bank of Russia owns a controlling stake in Sberbank – 50% plus one share. This fact has already led to an unprecedented conflict of interests: on the one hand, the Central Bank is a mega-regulator of the domestic financial market, which, in theory, should be interested in competition, demonopolization, creating conditions for preventing the formation of oligopolies, and on the other hand, the shareholder of the country’s largest state bank, annual increase in net profit, an increase in the volume of payments on dividends, the creation of "hothouse" conditions for a controlled bank.
Obviously, the team of Mrs. Nabiullina has long played on the side of the supervised "Bank Gref". Market participants openly state that the Central Bank’s policy on "improvement of the banking sector" is a policy in the interests of "five-bankers", in which the lion’s share belongs to Sberbank.
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It is surprising that this conflict of interests did not become a reason for serious analysis and subsequent actions to neutralize it at the state level. If the topic is dominant in the expert community and among market participants, neither in the government, nor in the parliament, nor in the FAS, or in the Accounts Chamber, this problem is key. Everyone understands everything, but pretends that there is no conflict of interest.
This flawed policy has already resulted not so much in the nationalization of the financial market, in the huge flow of customers and liquidity, but in the final "freezing" the status quo, where the boundaries between the public and private interests of the beneficiaries are completely blurred.
Further more. TV Channel "Tsargrad" objectively analyzed the structure of non-resident minorities. Figures shocked us! Thus, the share of US investors in traded on stock exchanges "free" shares of Sberbank reached 40%. The financial backers from Great Britain own a 29.5% stake in Sberbank. Total almost 70% "free" shares from Americans and British, who in the daily regime threaten Russia with new packages of sanctions.
It becomes obvious, in whose interests raged and raged "Hurricane Elvira". The main beneficiaries are financial speculators from the United States and Great Britain. It is they who, by the end of last year, will receive from Sberbank at least $ 1 billion! Analyzing the annual reports of Sberbank, "Tsargrad" found a very interesting fact – payments for 2017 will be a record.
Consequently, the Central Bank, as the largest shareholder, and non-residents from the United States and Britain will receive an unprecedented cache, which in many ways was provided by one fundamental factor – "hothouse" conditions of Mrs. Nabiullina for "their". None of the other professional participants in the domestic financial market had and do not have those favorable conditions in which Sberbank operates.
I will return to non-residents holding a controlling interest "free" shares. Not so long ago, the Russian press received correspondence, which the Sberbank administration led with the administration of the White House through its lobbyist in the United States. From these letters it follows that the largest bank of Russia headed by Mr. Gref is ready "walk on hind legs" Before the West and concede in everything, just not to lose the status "of its bank". For these "gingerbread" Gref is ready to forget about the honor and interests of Russia. Cash, net profit growth, from which "fraternally" We will share with your representatives-owners of Sberbank shares. The financial and national sovereignty of the country is a fundamental principle guided by the current top management of a credit institution.
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Sberd not only sends gigantic sums of money to lobby his interests in the United States, but he also fawns upon the officials who, by the way, are preparing new packages of anti-Russian sanctions. Active correspondence with Washington Mr. Gref through his personal representative is with the assistant secretary of state for Eurasia. The letters say that a certain Edison Smith, lobbying the interests of Sberbank CIB, persistently sought a meeting with high-ranking officials of the US State Department. The goal is to discuss issues related to the introduction of anti-Russian sanctions and concerning the activities of Sberbank.
In addition to the general explanation of how old and respected the financial institution is in the world, the letter notes that the top management of the bank intends to discuss with American officials the fact that … Mr. Gref has fallen into the so-called. "Kremlin report", with which Vavilov (the central office of the bank) categorically disagree. Mr. Gref spends millions of dollars annually lobbying his interests in the US capital. Sberbank has well-known lobbyists from the Podesta Group and the Madison Group, who work with senators and congressmen to protect the interests of those who are ready to sacrifice Russian national sovereignty and grovel before structures that threaten "to tear the Russian economy to shreds".
It is obvious that Russia’s largest state bank does not actually belong to our country. Formally, it controls the Central Bank, but in fact, Sberbank has long fallen under the control of overseas "curators" Gref and Co.. Therefore, it is not particularly surprising that in the near future Russia will pay its "Western partners", American and British financial speculators, more than 1 billion dollars.
From a formal point of view, what is happening is irreproachable, the existing model of the economy is imprisoned for payment "tribute" those who almost daily put new restrictions on our country and its enterprises. It’s time to put a dot (or an ellipsis?) In this matter.
At the upcoming annual meeting of shareholders of Sberbank, the main shareholder, the Bank of Russia, can block the decision to pay record dividends. Money, for example, can be used to replenish Sberbank’s equity. Yes, the state (represented by the Central Bank) will lose a large sum, but also "Western partners" will remain "with a nose". I understand that the Ministry of Finance will be categorically against this proposal, the money is already surely allocated to "important articles", but in a situation where you are frankly and bluntly called "enemy of Western values", it is better to show fighting qualities than grovel before American and British financial speculators.
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It’s time to decide on the priorities, and at the same time solve one of the fundamental issues: the Central Bank – regulator or the owner of the country’s largest bank that destroyed competition in the domestic banking market?
P.S. The fact that Washington does not intend to "fuss about" in respect of Gref’s bank, another fact says: today, Fitch Agency warned that very difficult days for Sberbank begin. And they are connected with a new package of sanctions of the US Ministry of Finance, in "black list" which brought in structures controlled by the oligarchs Deripaska and Vekselberg. The greatest risks, according to analysts Fitch, are concentrated on the balance of Sberbank – they reach $ 11 billion, or 20% of the capital.
Exit from "toxic" Sberbank will not be able to have assets without state support: there is no active market, and keeping them on balance will require restructuring and additional allocations to reserves. You can do without an infusion from the budget, Sberbank itself is able to add additional reserves due to its record profits. What will be the solution? The answer will be given at the upcoming annual meeting of shareholders. I will assume that Mr. Gref would like to receive state support at the expense of Russian taxpayers and … pay record dividends to his overseas friends. I hope that I am wrong in my forecast.
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