The DIA received a loss of 29.5 billion rubles in 2023. against a profit of 250 million rubles. a year earlier
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For the first time, the Deposit Insurance Agency (DIA) created reserves for assets received as collateral for loans issued to banks to prevent their bankruptcy. As a result, it received a loss of almost 30 billion rubles at the end of 2023, while in 2022 it received a profit of 250 million rubles. Moreover, there was not a single insured event last year. But, according to the DIA’s annual report, to prevent bank bankruptcies in 2023, the agency provided them with loans worth 300 billion rubles—this is a record amount since 2015. Experts, however, believe that this situation will not have a “dramatic impact” on the situation in the agency.
According to the annual report published on March 28, the DIA received a loss of 29.5 billion rubles in 2023. against a profit of 250 million rubles. a year earlier, and this despite the fact that “a characteristic feature of the reporting year was the absence of insured events in relation to banks participating in the deposit insurance system (DIS), which happened for the first time since the beginning of the full functioning of the DIS (2005).”
DIA was created in January 2004. During this time, 551 insured events occurred (data as of March 1, 2024), 743 liquidation procedures against banks were initiated, of which 435 were completed. The DIA takes part in the rehabilitation of 12 banks.
As the DIA explained to Kommersant, last year for the first time the agency created a reserve for assets received from banks during the reorganization process, “the loss is mainly associated with this reserve.”
At the beginning of 2023, measures to prevent bank bankruptcies were implemented in relation to 13 banks. As stated in the annual report, in order to prevent bankruptcies of DIA banks, loans worth 300 billion rubles were provided at the expense of the Central Bank. According to the DIA, this is the largest amount used to prevent bankruptcies since 2015, when costs amounted to 482.59 billion rubles. In 2022, the agency spent only 2.44 billion rubles for these purposes.
In general, as of December 31, 2023, 62 loan agreements were concluded and funds were provided in the amount of 1.3 trillion rubles, to secure which banks transferred assets worth 1.1 trillion rubles to the agency. It is for these assets that reserves in the amount of 42.7 billion rubles were created.
Among the collateral accepted by the agency for loans, the largest part consists of rights of claim with a collateral value of 809.3 billion rubles. (75.1%), in second place are securities with a value of 191.8 billion rubles. (17.9%), of which securities worth RUB 130.9 billion. admitted to circulation on the organized market. Another 73.4 billion rubles. The DIA received guarantees from legal entities and individuals (6.8%).
According to the annual report, as a result, the costs of creating reserves for possible losses amounted to 44.3 billion rubles. Of this, 1.6 billion rubles were covered by retained earnings for 2019, which gives a figure of 42.7 billion rubles. The remaining income from investments of the DIA itself in the amount of 12.4 billion rubles. “remained unassigned until a separate decision by the agency’s board of directors.”
Experts note that a significant increase in the volume of loans that the agency had to provide to banks as part of bankruptcy prevention may be associated with “changes in market conditions.” According to financial analyst Andrei Barhota, the need to support banks was due, on the one hand, to the partial abolition of regulatory easing, and on the other, to a strong change in the situation in the foreign exchange and money markets. “We are talking about a revaluation of foreign currency assets and liabilities and a doubling of the interest rate in 2023,” he says. In the new conditions, the expert notes, significant injections into the capital of banks undergoing the financial recovery procedure were required.
“The magnitude of these expenses is so great precisely because in 2022 there were none at all, there was a kind of moratorium,” explains Andrei Barkhota.
At the same time, the expert emphasizes that 300 billion rubles. – this is no more than 10% of the total assets of the DIA, so the current situation “will not have a dramatic impact on the state of the agency.”
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