Globex Bank: feedback from employees and customers

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

"Globex" is a major metropolitan bank, which was founded in 1992. Rosgosstrakh was the main founder of the credit organization. During the 2008 crisis, there was a massive outflow of capital from large companies and individuals. The bank was on the verge of bankruptcy, so its capitalization dropped sharply. Vnesheconombank bought the financial and credit organization and became the sole owner. In 2012, the "National Trade Bank" was attached to the credit institution.

General information

Today, Globex Bank is part of the Vnesheconombank group and firmly holds its positions in the credit market. The bank has its own network of branches located in 8 regions of the country. The main office of the credit organization is located in Moscow. The financial crisis of 2008 created the prerequisites for Globex Bank to become one of the first organizations to be reorganized, the rescue of which cost the state 80 billion rubles.

Financial difficulties

The bank's unbalanced lending policy has led to serious financialproblems. Almost all loans were directed to real estate transactions. The credit institution repeatedly intended to reduce the volume of non-core assets, but this was not possible. As a result, there was a conflict of interest, since 100% of the loan portfolio accounted for the financing of facilities that belonged to the owner of the credit institution. Globex Bank allowed an excessive concentration of risk on its debtors, the 6 remaining borrowers accounted for 100% of the credit institution's loan portfolio. The assumed obligations and risks exceeded all possibilities of the capital base, which acquired negative values. Globex ceased to comply with the standards set by the Central Bank, since the risks from investments significantly exceeded the capabilities of the bank's capital base. In this regard, there was a decrease in the financial indicators of Globex Bank. The revocation of the license in 2017, which was mentioned by many financial market experts, never happened.

Management had to file financial statements with distorted results. The Central Bank of Russia has repeatedly demanded that the asset structure of a credit institution be adjusted. The main problem of the Globex bank was that the credit organization attracted deposits and placed them for the implementation of its own projects. The bank also actively used funds from non-state pension funds. The management of the credit institution operated on the fact that all actions werecommitted within the framework of the law, since the legislation in the field of pension regulation was rather weak. Vnesheconombank, which bought Globex, created an effective control system and a competent financial policy, which made it possible to bring the credit organization to a new level. To date, the credit institution is operating as usual, despite the fact that many spoke about the revocation of the license in 2017.

Main activities

The main activity of Globex Bank is lending. Customers can also use the following services:

• acquiring;
• providing express guarantees;
• placement of free cash;
• currency exchange operations;
• receivables financing;
• rent safe deposit boxes;
• overdraft;
• payroll projects;
• factoring services;
• securities transactions;
• currency exchange.

Globex Bank has launched a website where customers can choose the most convenient service program. He also developed a special loy alty program for his clients who are owners of plastic and payroll cards. We althy clients can take advantage of trust management strategies from the bank's partner TKB Investment Partners.

Customer Reviews

In order to form an objective idea of the activities of this credit institution,You should read customer reviews. Bank "Globex" reviews are diametrically opposed, since there are negative and positive comments about the specifics of the activities of this credit institution. Many note that the financial institution has an outdated personal data protection system, so unauthorized persons can gain access to customer funds. Negative reviews about Globex Bank indicate that a credit institution can unilaterally debit funds from an account in favor of government agencies without notifying the account holder of this operation.

Clients also say that the funds on the deposit and interest on it can only be received at the branch where the agreement was drawn up. Therefore, customers can perform deposit transactions only in a certain branch of the bank, even in Moscow. Bank Globex receives mostly negative reviews on deposits, since customers cannot receive funds and accumulated interest. Among the positive aspects, customers highlight the prompt work of specialists and friendly staff of the bank. Also, some reviews about Globex Bank note good conditions for placing foreign currency deposits.

Employee reviews

Negative feedback from employees suggests that the bank does not provide opportunities for development and further career growth. Many reviews about Globex Bank report that bureaucracy thrives in the organization, and inthe team lacks cohesion and integrity.

Employees talk about non-compliance with labor laws by the employer, because they have to constantly stay on overtime, which are not paid in the future. Some frankly talk about the lack of career growth within Globex Bank. Feedback from employees exists and is positive, which note a decent salary and a loyal attitude from the management. Former bank employees say that the company has developed a competent system of material motivation.

Summary

Credit organization "Globex" has implemented many successful projects and special programs that are in demand among legal entities and individuals. The bank offers an individual approach to each client.

Despite the fact that the financial condition of the bank was undermined, the credit structure is actively developing and systematically increasing its technical, personnel and financial potential. Today, the bank is focused on building long-term relationships with its customers. Therefore, Globex takes a strong position in the financial market.