"AiMoneyBank": problems, rating, customer reviews

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

"IMoneyBank", whose problems are limited to dissatisfaction on the part of a certain percentage of customers, until recently was known only in Gorno-Altaisk. In the last two years, the financial institution has been active, which allows it to reach the federal level and become on a par with the country's largest banks. At the moment, the network of branches includes 31 offices in different parts of Russia. The financial institution works only with individuals who have access to a wide range of services. Among the offers there are deposits and rent of safe boxes, a wide range of credit products. The most demanded service, which draws attention to such an institution as "IMoneyBank" in St. Petersburg and other cities of the country, is car loans.

Bank History

AltaiEnergoBank, opened back in 1992, became the base bank for opening such an institution as AaiMoneyBank, whose problems did not bypass anyone during the economic crisis. His story ended in 2013. During this period, in the financial world, as a result of rebranding, "IMoneyBank" appears. At the first stages of work "AltaiEnergoBank"provided services exclusively within one region. Since the mid-2000s, the management of the institution made a serious decision to enter the federal level. Since 2009, the institute has been included in the list of the top 500 banks in the country. After the rebranding, the financial company changes the address of the main office, which has now moved to Moscow. In 2013, there is a complete change in the development strategy of the Institute. If in 2012 the main focus was on consumer lending, then, starting from 2013, the main forces were directed to car loans. By the end of 2014, iMoneyBank, which did not have time to comprehend the problems like its predecessor, was already included in the list of the top ten banks in the country in terms of the volume of loans issued for the purchase of a car. Today, car loans remain a priority. Other banking products were raised to a higher level.

Active development of car loans

As mentioned above, the main banking product of the institute is car loans. It is in this direction that active work is being carried out, integration with dealer networks for the sale of cars is being carried out. New partnerships are systematically formed, the list of points where private clients can get a loan is expanding. Most of the products, with the exception of deposits, are aimed at customers who have already received a car loan. They can be considered solely as convenient and beneficial additions to loan servicing. Management pays great attention to convenient banking servicestheir clients anywhere in the country. Each client has access to such tools as a personal account on the official website of the institute and Internet banking of "IMoneyBank" - "I-Click". Remote access to accounts is constantly being improved. The list of Internet services is systematically expanding, new opportunities appear, and the level of security improves. Negotiating with new potential partners, the bank's management is constantly expanding opportunities in terms of payment for its services, offering more and more new methods of payment. Today, a car loan can be repaid on special preferential terms through such payment systems as Leader and Eleksnet, Rapida and QIWI, CyberPlat. "IMoneyBank" in St. Petersburg and its other representative offices in the country are members of the "United Settlement System", which includes 120 domestic banks, forming a 40,000th representative office.

Reviews about the work of the bank

"IMoneyBank", whose office addresses are very easy to find in the largest cities of the country, attracted a large number of customers with its offers, which led to the emergence of a huge number of responses about partnership with the institute. The experts, having evaluated most of the reviews, agreed that the bank has both advantages and disadvantages. Many customers speak positively about the variety of car loan programs. I was pleasantly pleased with the return of part of the funds to the bank account when buying fuel using the institute's card. "AyMoneyBank" reviews are not only positive. There is a fairly large percentage of customers who complain about dubiousthe reputation of car dealerships with which the bank has partnerships. As for deposits, quite often people talk about the complicated conditions of partnership and the rather complicated system of accruing interest. As for car loans only, the main focus is on a fairly large overpayment. There are people who did not receive the package of services promised in the advertisement, but stumbled upon a rude refusal. As for the Autopiggy bank card, opinions are divided here. There are many customers who are completely satisfied with this banking product. Not without card holders, whose plastic was blocked after several months of use, along with all the funds that are on it. According to them, CB "IMoneyBank" demanded to provide a package of copies of documents due to their absence in the database. When early repayment of a loan for the purchase of a car, refusals to return insurance were noticed.

Rankings and insignia

Major financials have brought IMoneyBank, whose problems are limited to resentment from customers, which is typical for every financial institution, into the list of the top 200 banks in the country. The largest banking portal Banki.ru, according to the clients of banks who are visitors to the project, provided the institution with a position in the top ten financial institutions of the country according to the results of the national rating. In 2014, the Expert RA agency recognized the Internet bank of a financial institution as one of the most functional Internet services in the country. It can be concluded that the leadershipinstitutions were not wasted. According to Moody's, in 2014 the institution was rated Baa3.ru on the national scale, and B3 on the international scale. The bank is marked as stable. The Rus-Rating agency also noted the bank as stable and assigned it a national rating of BBB+ and an international rating of BB.

What does not suit bank customers in car loans?

Due to the fact that AiMoneyBank LLC specializes in car loans, a large number of reviews about the financial institution are associated with this type of product. People write that at the partnership stage, bank employees do not always provide truthful information about lending conditions. There is information that when signing the contract, the bank's specialists voice one loan terms, and after the documents have already been signed, they turn out to be completely different. As for the last comment, the customers themselves are to blame. People, trying to save their time, simply do not bother reading a multi-page contract and sign right away. This causes an unpleasant situation in the future, when it comes time to make a monthly payment. Similar dissatisfaction can be seen not only in relation to an institution such as IMoney Bank in Moscow, but also in relation to other banks. In contrast to the negative reviews about the company, you can find many words of gratitude from customers who skillfully chose a car loan for themselves and regularly fulfill their obligations under it.

Future plans

"IMoneyBank", whose rating is at a fairly high level, for the majority is not so much an ordinary bank as a service that assists in obtaining car loans. One of the bank's specializations is lending secured by motor vehicles. Now there are about 30 branches across the country, the management plans to open at least 50 more branches. Offices are planned to be located in each of the federal districts of Russia. This will allow prompt and high-quality service for all corporate clients. In the future, it is planned to attract foreign investors to the financial institution, which will pave the way for the institution to become one of the hundred best banks in Russia. The idea is planned to be implemented in the next three years. For the next five years, the bank is scheduled to take a leading position in its business segment. According to the bank's business plan, which is currently being implemented ahead of schedule, in the future it will become the most dynamically developing financial institution in the country.

Reporting as of May 1, 2015

Institution "AyMoneyBank", the reliability of which is at a fairly high level, belongs to the category of medium-sized Russian banks. It holds the 170th position in terms of net assets in this category. As of May 1, 2015, the net assets of the financial institution amounted to 22.87 billion rubles. In just a year, assets increased by 8.12%. Asset growth had a negative impact on ROI. According to the data for the next reporting period, as of April 1, 2015, the profitability decreased from 0.76% to 6.63%. Moody`s reports that the financial institution is exposed to high credit risks, and the level of creditworthiness remains low in 2015. There is every chance for a further downgrade. Compared to the indicators and estimates of 2014, which were noted above, the situation has worsened. If we compare the work of the bank with other financial institutions of this category in the country, then it is difficult to call it negative. The financial institution did not have to deal with interim administration and liquidation or bankruptcy procedures. Despite the difficulties that are typical in general for the entire financial sector of the economy in the country, the institute did not relieve itself of responsibility. Deterioration of indicators or decrease in statistics in the period 2014–2015 more perceived as the norm than a malfunction. Almost all banks have been affected by the crisis, and AiMoneyBank is no exception. The fact that he continues to operate and expand his network of branches despite tough economic conditions only increases customer loy alty and increases the level of trust.

Contributions

Institution "AyMoneyBank" attracts deposits very actively. This is due to the numerous promotions and bonuses that many investors are attracted to. Relatively high interest rates in the financial market, which vary from 13.07% to 15%, depending on the program, attract attention. The most advantageous offer of a financial institution is 16.29% on a deposit that provides for interest capitalization. At the moment, the financial institution is working properlyfulfills its obligations, and there are no reports of non-payment of interest or principal amounts of the deposit. There are people who talk about the fulfillment of promises by a financial institution. "IMoneyBank", which accepts deposits of individuals to this day, provided one of the clients with a TV set at the end of the deposit. One can observe a slight change in the volume of deposits with a parallel increase in the amount of the bank's personal funds, including ICB and correspondent accounts. Interest liabilities of the financial institution on deposits increased by about 10.4%, from 17.4 billion rubles to 19.21 billion rubles.

Liquid Assets

The liquid assets of the bank include those funds that can be transformed into money in the shortest possible time to return them to depositors and to fully fulfill their obligations. Liquidity is an integral part of reliability. The liquidity of assets suggests that over the past month a change in the volume of highly liquid securities was recorded, an increase in cash on hand and in the accounts of the Bank of Russia was noted. Interbank loans grew, while highly liquid assets, taking into account discounts and adjustments, changed from 4.01 billion rubles to 9.78 billion rubles. Over the last reporting period, "IMoneyBank" increased the deposits of individuals several times, which was accompanied by an increase in liabilities to customers. In parallel, over the last year of the financial institution's work, due to the economic situation that has developed in the country, the outflow of capital increased from 1.08 billion rubles to 1.75 billion rubles over the year. Comparison of highly liquidassets and the volume of capital outflow forms the ratio of 558.26%. This shows an excellent margin of safety, which is able to overcome a much greater outflow of capital than the one that is taking place now.

Summing up

After assessing the situation with the bank "AyMoneyBank" (reviews, ratings and statistics), experts classify the financial institution as a relatively reliable institution. It is recommended for investments, but in an amount not exceeding the insurance provided by the deposit insurance agency in the amount of 1.4 million rubles. The downgrade of Moody's rating, with a long-term negative outlook inclusive, which caused a panic of depositors, has more to do not with the activities of the bank itself, but with the economic situation that has developed in Russia today. The bank itself simply reduced the volume of car loans issued, but did not violate the regulations and continues to regularly fulfill all its obligations to customers. There are no grounds for investors to worry today, and the main merit belongs to the deposit insurance agency. Prudent investors are not recommended to make deposits for the reason that in the event of an unfavorable development of events, their funds may simply be frozen. As for customer feedback, they are both positive and negative. As in the situation with other financial institutions of the country, it is impossible to satisfy the interests of everyone. Moreover, the people themselves, due to their inattention and disdain for cooperation with banks, agree tounfavorable conditions for their particular situation and then express their indignation. A little attentiveness, a detailed consideration of the terms of the partnership, a suitable banking product - and cooperation with the bank will leave only pleasant impressions. Special services of the institution respond immediately to any claims.