"Leto Bank": reviews. JSC "Summer Bank" "Leto Bank" - cash loan

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

JSC "Leto Bank" - a subsidiary of VTB 24, operating in the segment of mass consumer lending. The bank puts forward minimum requirements for borrowers and offers a wide range of products and services.

History

In 1990, a credit institution "Bezhitsa-Bank" appeared in Bryansk. Its services were used by the largest enterprises of the city, gradually it began to master the mortgage and consumer loans market. In 2005, the Federal Property Management Agency joined the ownership of the organization's capital, and in 2006, the Bank of Moscow, which within three years brought its share to a level above 95%. In 2011, the capital's financial institution was taken over by VTB Group and has since been its subsidiary.

In April 2012, almost 100% of the shares (a very small part remained with the minority shareholder) of Bezhitsa-Bank already belonged to VTB 24, and Dmitry Rudenko, who previously worked as deputy chairman of Russian Standard, became the head of the board. He had vast experience in the consumer lending market (including the development of POS loans, which are quite new for Russia).- in retail outlets when buying goods). The top management of the financial structure also included other top managers of Russian Standard. In October 2012, Bezhitsa-Bank carried out renaming and rebranding, changing its name. This is how Leto Bank appeared, Moscow became the city where the central office of the organization is located.

Business Model

Now "Leto Bank" is an institution specializing in the so-called mass retail segment of the consumer lending market. Among the main products are the issuance of loans in express form (including through applications in retail chains), in cash or by cards. A lot of credit and cash departments have been opened throughout the country, a new national brand has appeared - Leto Bank, reviews of which are available on all thematic online portals. Historically, the first trade organizations to sign partnership agreements with VTB 24's subsidiary were the DNS (digital equipment sales) and Elmekh (fur products) networks. Leto Bank loan programs are designed to facilitate the purchase of goods and payment for services for people with low solvency (or limited at the time of purchase). The issuance of loans is extremely simplified - a minimum of documents is needed, the decision is made quickly. But this business model is backed by very high rates - at least 29.9% per annum (relative to POS loans and car loans).

Asset structure and priorities

Despite the rapid growth in popularity in the country, Leto Bank, in fact, remains a "startup". The structure of the institution's liabilities is represented only by the internal budget, assets - inin the form of interbank loans, corporate accounts on a specialized account with the Central Bank of Russia. About half of Leto Bank's assets are involved in financing infrastructure, opening new offices around the country, and ensuring informatization processes. Thanks to effective investment, the bank was able to gain confidence in its customers within a fairly short period of time. This young, but proven successful financial institution offers borrowers favorable interest rates and a good level of service, backed up by the qualifications of the staff. The target group of borrowers of Leto Bank is a married resident of the administrative center of a constituent entity of the Russian Federation with an income of 20 thousand rubles and working in a small organization. The institution focuses on repeat customers, offering them profitable options.

Cash loans

When a new brand was created in the person of Leto Bank OJSC, the management of VTB 24 planned to concentrate the work of the institution in those segments where the parent structure does not operate - the segment of mass services for the population. Therefore, the conditions for issuing loans from the new bank are much simplified. The flagship banking product of the Leto Bank brand is a cash loan. As a rule, these are Summer-Money express loans, the decision on which is made in a few minutes (the larger the amount, the longer). The borrower only needs to show a passport (if the amount is up to 100 thousand, if more, other documents will be required).

The rate for this product line is 29.9-39.9%, which is in line with the market average. At the same time, summerBank offers a very special product, the analogue of which is not very common in other financial institutions: a preferential loan for reliable borrowers at an actual rate of 19.9% per annum. That is, upon completion of payments on the loan, the difference is returned to the borrower, as if he had paid the specified interest. Partial or full repayment is allowed, money is deposited into the account according to the annuity scheme. There is a minimum payment - its amount depends on the amount of the loan.

Additional services

"Leto Bank", reviews of which are largely determined by the quality of additional services, can offer the borrower a number of options that are in harmony with the main banking products. Among these, for example, is the “Missing payment” service: the client can allow a one-time delay in payment once a year, and there are no sanctions for this (except that the loan term will move forward a month). An interesting option is “Change the payment date”: if a person does not have time to make a planned payment, then he can postpone the date of making money for 15 days. The service costs 90 rubles.

There is a “Reduce payment” service that allows you to somewhat restructure the loan: once during the time you use the loan, you can reduce the mandatory payments by increasing the total loan term. Leto Bank also has such a product as the Insurance Protection Program - issuing a policy in case of difficulties in repaying loans. The price of the service is 0.74% of the loan amount, debited from the account monthly.

Featurescredits

Leto Bank, where a cash loan is available with a minimum of documents, is distinguished by exceptional transparency of loan conditions. What the client sees in the contract is what he pays, without any inscriptions in small print. When applying for a loan, they offer to arrange insurance voluntarily, unlike competing banks, where it is sometimes imposed. Rapid decision-making on applications is due to the perfect system of "scoring" and solvency assessment. Therefore, this credit institution does not need a large number of documents, and money is often issued on the same day of application.

A very important factor is that Leto Bank's infrastructure is integrated with that of VTB 24, so all ATMs and offices of the latter institution are at the disposal of summer clients. In principle, borrowers have plenty of opportunities for repayment - in offices, through terminals, money transfer systems. Also, Leto Bank has established procedures for remote communication with customers: for example, if you need to use one of the services described above, you just need to call the institution’s call center, it’s not at all necessary to go to the office. The Leto Bank hotline is always ready to communicate with borrowers.

Customer comfort

Despite the fact that giving office interiors shades of ease and friendliness is a trend of almost all Russian credit institutions, Leto Bank is notable for its “seasonal” concept of warmth of tones coming from its name, creating an atmosphere of comfort in its own premises. In addition to the beautiful design, the very organization of the offices pleasesbank: all customer service centers work every day, they have payment terminals. Attracts people and a positive word in the name, which the bank has - summer. Addresses of the institution are easily found in most of the city's online directories.

As mentioned above, without commissions and interest, you can deposit money for a loan through the VTB 24 infrastructure, elements of which are presented in abundance in most cities. The concept of respect and friendliness to customers is also emphasized by the management of the Leto Bank brand. Office hours are not the only criterion for borrowers' comfort, however. To some extent, loy alty in assessing the solvency of customers is part of the friendliness model - pensioners and students can get a loan in this institution, for whom the attitude in other financial institutions (including VTB 24) is often not the most trusting. The most important advantage that Leto Bank has is that a loan application is processed very quickly.

Loans through third-party banks

"Leto Bank" is trying to experiment - in particular, through the sale of its loan products through other partner institutions. According to information in the specialized media, one of these is the Podem! Bank, which already issues loans according to Leta standards and uses software from VTB 24's subsidiary. Experts believe that we are talking about banking franchising - so far a little-known form of interaction between financial institutions in Russia. The management of the organization believes that such cooperation helpsanalyze the market in regions where the brand does not yet have offices. At the same time, the bank "Let's go!" in fact, it shares new customers with a partner, trying to “run in” new models of its own products. Among the experts there is also a critical assessment of the interaction between the two credit institutions: the franchisor may incur losses associated with the image. Selling someone else's bank products can be incomprehensible to customers. Although, as experts admit, "Let's go!" receives guaranteed commission income with zero credit risk.

Success in the language of numbers

Leto Bank is actively studying the Russian market of consumer loans. According to experts of the institution, the real "debt load" of the population of the Russian Federation in this segment, contrary to many pessimistic assessments, does not exceed 10%. The critically acceptable level of delinquency in the bank's business model at the time of launch was 15%, but as the scoring and underwriting mechanisms improve, this figure is planned to be reduced to 12% by the end of 2014. From the point of view of personnel selection, Leto Bank, which is reviewed not only by borrowers, but also by employees, relies on young people, which allows minimizing the “turnover” of personnel characteristic of this market segment.

During 2013, the bank's portfolio grew 29 times and exceeded 1 billion rubles. This indicator consists of two components - cash loans and POS-loans (16 and 4 billion, respectively). The geography of places where there is a Leto Bank brand is also growing - Rostov-on-Don, Kemerovo and other large cities have joined themRussia. By the end of 2014, the bank's management expects the portfolio to grow to 28 billion. Improving the infrastructure of this financial institution has reduced the average time for considering a loan application to 10 minutes, as a result of which queues of borrowers waiting for a decision have almost disappeared in credit centers. The work of the staff is becoming more productive - Leto Bank understands this very well, the reviews of whose employees simply cannot be negative due to the well-coordinated organization of interaction between various departments.

Evaluation of the borrower

The scoring and underwriting system of Leto Bank is based on an automated system based on SAS Credit Scoring and SAS Real-Time Decision, designed to make decisions in real time. Several credit bureaus are also involved in this process. Work is underway in the online direction: borrowers are also assessed based on profiles in social networks. The bank also plans to introduce a service that analyzes the personal connections of the borrower: who he knows, what age and gender these people are, how they, in turn, interact with each other and what relation they have to the bank.

Checking the client according to this scheme will allow, apart from studying the social profile, to determine how honest he is when filling out the application. At the same time, the role of a person in “scoring” and underwriting is assessed by experts as high: not a single, even the most advanced automated system, can analyze data about a borrower in a multifactorial manner. "Leto Bank", an application for a loan in which is consideredcombined - both by employee and automatically - holds similar views.

Credit cards

Currently there are no credit cards in the Leto Bank product line, but the start of work with them is scheduled for 2014. So far, only cash loans are issued, but the management of the institution understands that the card is a necessary tool for the market that will increase sales. At the same time, the credit card is intended to become an independent banking product. The management announced plans to open this direction to several specialized media. Leto Bank, whose cards are planned to be issued for investment by VTB 24, is taking, according to market experts, a logical step.

Unsecured loans with a high interest rate, analysts believe, will find good compatibility with the "card" format. Economists consider this segment of lending quite in demand in Russia. Perhaps the marketers of the “daughter” of VTB 24 should not wait until the end of 2014, but try another season - summer. The addresses of points where you can order "credit cards" will then be prompted to customers by employees of the institution's offices.

POS lending

As already mentioned, Leto Bank's management employs people who have been engaged in POS lending for many years: when a store buyer, not finding enough money to purchase an item he likes, can apply for a small loan for it. Market experts believe that competition between various financial institutions in this segment is growing: retailers themselves invitebank representatives. The borrower can compare offers from several credit institutions and apply to all at once, in order to then choose the most advantageous option. The main task of market players, including Leto Bank, is to improve evaluation mechanisms and improve the efficiency of infrastructure. The competition is high, and therefore the client will choose the institution that, first of all, will give the most prompt response to the application. The aspect of positive work with the borrower is also important - if the latter does not like something, then next time he will choose another organization, and Leto Bank is clearly aware of this. Customer reviews - positive ones - contribute to the formation and development of a successful banking business.