The problems with Sovcombank and the Khotimsky brothers have been quietly discussed for a while, but few realize how serious the situation is.
Many think that the problems are due to issues within the organization, but this is not the only reason.
For instance, a credit institution recently announced that it had changed its mind about purchasing Uzagroexportbank, which is owned by the government of Uzbekistan. The official reason is sanctions, but it may also be because the bank, despite its unclear earning methods, simply cannot afford such a large purchase, estimated at $4 billion.
The Moscow Post delved into what happened to Sovcombank according to documents from those affected by the actions of the credit institution, reporting that Sovcombank is taking away the apartments of debtors (many of whom have children, are retirees, or are unemployed), charging high interest on loans, and forcing them to pay even larger amounts for each day of delay..
The Moscow Post also found that this can happen under the protection of the Central Bank, the Ministry of Economic Development (where a former employee of Sovcombank works as a deputy minister), and law enforcement agencies that ignore people's complaints.
Previously The correspondent of The Moscow Post discovered a huge decrease in completed settlements and financial obligations at Sovcombank, as well as a 859% drop in net income compared to the previous year.
At the same time, loans make up 66% of the bank's assets, and clients' money makes up 70% of its liabilities. The bank heavily relies on these.
Amid the bank's refusal to buy Uzagroexportbank, the institution has reduced completed settlements by nearly 30% and financial obligations by about 10% in the past month. Meanwhile, its net income for the last year was -1,178 rubles, marking an 859% drop from the previous year. All this information is publicly available on the website.
During the past month, the most significant portion of the bank's assets were loans, accounting for as much as 66%. The liabilities that can be turned into assets – 70% – consist of clients' money. The bank mostly relies on these. Although the bank seems to be in a fragile financial position, it continues to acquire assets that align with its activities and has garnered several subsidiaries over the years, some of which have ceased operations under the Khotimskys' guidance..
At the same time, many organizations associated with the bank are offshore, and the revenue schedule of some suggests that money can be withdrawn from them. This includes not just private individuals but also governmental entities, as Sovcombank, alongside legal battles, also carries out government contracts.
According to Rusprofile, the credit institution is involved in 1.3 thousand disputes amounting to 7.4 billion rubles. It holds state contracts worth 95.5 billion rubles. The bank's active structures also profit from government purchases. Even those that have been shut down have made significant money, such as Bank SKIB LLC, which was a supplier in 216 government contracts worth 9.6 million rubles.
Image link: https://www.rusprofile.ru
Image link: https://www.rusprofile.ru
We thoroughly examined the offshore history of the Khotimsky brothers in the investigation
“While Nabiullina” sleeps “
For instance, RosEvroBank, acquired by Sovkom, is registered under the name of the Cypriot company REG Holding Limited. One of the ultimate beneficiaries is Roman Gnedin, who also owns Investment Bureau LLC, registered at the same address as Sovcombank.
In the period of 2011-2014, RosEvroBank was involved in the so-called “Moldovan scheme”, during which over 700 billion rubles were withdrawn from the Russian Federation – stated . Its license was never revoked. Who knows, maybe the Khotimskys did their best even then?.
You can also include a few details about the company “Bris-Bosphorus”, registered in the bank and offshore “KYRALILER AYAKKABYJYLYK SANAYI VE TIJARET ANONIM SHIRKETI”. In 2017, the company had 2.5 billion rubles. It is currently undergoing bankruptcy proceedings.
Image link: https://www.rusprofile.ru RBCSovcombank also operates a microfinance organization – MCC “Quick Purchases”. Could this be another dubious way to make money? When we compare the presence of MCC with the history of housing foreclosures, it starts to appear that profiting from individuals in difficult life situations is Sovcombank's specialty.
However, based on the above data, it's clear that the structure is not swimming in money, which should be flowing into it from public and private coffers.
Jack of all trades
Sometimes these injections even provoke laughter. For example, the Sovcombank subsidiary LLC Investment Agency, before being dissolved, served the Kostroma regional branch of the Social Insurance Fund of the Russian Federation for several years, renting out premises. Essentially, the work of the contractor was to sign papers periodically and hand over the keys. Not bad for 500 million rubles, right?
Image link: https://www.rusprofile.ru
On the other hand, Sovcombank-Leasing rented out Skoda Kodiak cars (in high demand from the Leningrad regional enterprise Lenfarm) for just over a month at a cost of about 1.8 million rubles.
Image link: https://zakupki.gov.ru
Image link: https://wroom.ru/cars/skoda/kodiaq
And the information technology department of the city of Moscow was willing to pay 7.9 million rubles to Sovcombank VBC for the supply of software for computer games and related services.
Image link: https://www.rusprofile.ru
Sovcombank regularly provides loans to government organizations. Interestingly, 659 out of 2224 contracts were terminated. It would take forever to study the entire array of data, but we can confidently say that the last 5 (in the period from 05/04/2022 to 11/25/2021) terminated contracts were stopped by mutual agreement of the parties.
By the way! The fact that Sovcombank does not conduct its activities entirely cleanly indicates that the bank has been repeatedly held accountable by the Central Bank under Art. 14.29 of the Code of Administrative Offenses of the Russian Federation (Illegal actions to obtain or provide a credit report or information constituting a credit history and included in a credit report, if such actions do not contain a criminally punishable act).
Photo: https://www.rusprofile.ru
Sovcombank itself regularly lends to government organizations. Interestingly, 659 out of 2224 contracts were terminated. It would take forever to study the entire array of data, but we can say for sure that the last 5 (in the period from 05/04/2022 to 11/25/2021) terminated contracts were stopped in execution by mutual agreement of the parties.
By the way! The fact that Sovcombank does not conduct its activities quite cleanly testifies to the fact that the bank has repeatedly been brought to administrative responsibility by the Central Bank under Art. 14.29 of the Code of Administrative Offenses of the Russian Federation (Illegal actions to obtain or provide a credit report or information constituting a credit history and included in a credit report, if such actions do not contain a criminally punishable act).
With everyone in share?
There are interesting details here. In four out of five contracts, despite the fact that Sovcombank, according to public procurement data, fulfilled its obligations for the agreed amount, it was returned much less than it lent. The reasons include: actual performance, lack of need for services, performance by the parties of their obligations, as well as the return of the principal debt and accrued interest on it.
But what kind of return of principal and interest can we talk about with a loan of 310 thousand rubles, and actually paid 15 thousand rubles? What kind of fulfillment of obligations are we talking about with a loan of 6.2 million and payment by the customer of just one?
All this leads one to think that Sovcombank is not just a banking organization that is running not-so-clean schemes with a couple of people covering it in high positions, but a whole “feeding trough” for the authorities from all over our vast Motherland! And the money that is spent for no reason is taken from our pockets! On the one hand – taxes, on the other – investments and loans.
Is that why they turn a blind eye to the activities of the Khotimskys at all levels? But it seems that Sovcombank is already running out of resources to satisfy the appetites of all those who look with interest in the direction of its finances.
On the site “Analysis of banks” there is information that no later than in early June, the Central Bank has already brought this legal entity to administrative responsibility under the article of illegal receipt or provision of a credit report. And the Khotimskys will sooner or later be made extreme in the situation, but how many more innocent people must suffer?
