Bank "Yugra": problems. Bank "Ugra": reviews

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

Bank Yugra, which had only temporary problems, appeared in 1990. In the financial services market, the institution has been successfully flourishing for the past 20 years. The main difference of the enterprise is a good and high-quality service, a chic list of financial services and an abundance of products for material prosperity and building your own business. The banking company is an official member of the SWIFT system, which already speaks of its excellent reliability and professionalism. The high status is reinforced by the ability to make international payments with the transfer of banking information, inclusive.

Innovation Path

Bank "Yugra", reviews of which are mostly positive, in 2013 radically changed its policy of activity. The new leadership chose the path of innovation and established an extraordinary active development policy. Today, a financial institution can be safely called a universal credit institution of federal rank. The work of the institution is focused on a wide variety of legal organizations and enterprises operating in various segments of the economy. The population gets the opportunity to experience the benefits of new technologiesservices and a chance to use advanced banking services. The dominant asset that distinguishes Bank Yugra (St. Petersburg) from its competitors is its customers. The most comfortable conditions for mutually beneficial and productive partnership have been created. The main activity of a financial company is the active raising of funds in the interests of both clients and shareholders.

Temporary difficulties in 2013

Bank "Ugra" had only temporary problems, and now they are behind us. I ran into trouble in 2013. Despite the fact that the financial institution was among the top 200 banks in Russia in terms of capital, deposits were temporarily suspended during this period. At the same time, it was reported that it was possible to both close the existing deposit and replenish it. Employees of the financial institution insisted that the reason was technical failures, and as soon as the system was restored, the regulation would resume.

Savers panic – lost interest

Depositors, who fell into a panic, began to withdraw their deposits abruptly, terminating contracts prematurely. An interesting fact is that there were no delays in payments, and Yugra Bank paid the deposits of individuals in full and in accordance with the agreements. People lost interest because of excitement, although in fact there were no serious difficulties. The work of the financial institution was fully restored a few weeks later. The only "but" is the reduction in the interest rate on deposits after the resumption of the functionality.

What werecaused by temporary difficulties?

Temporary difficulties and minor inconveniences that both depositors and the bank's management had to face were caused by an unscheduled inspection by the Central Bank. Representatives of the authorized body were interested in deposit rates, which by that time were the highest in the domestic financial market. According to statistics, most banks that offer an inflated deposit rate experience financial difficulties and are on the verge of bankruptcy. Attracting funds from investors on favorable terms is nothing more than an attempt to stay afloat. This is what the regulators are interested in. The audit did not reveal any financial difficulties. Bank Yugra itself, whose problems were related solely to the unexpected audit, received mild recommendations to reduce the number of deposits accepted and instructions to lower the interest rate. The institution's reaction was immediate.

Digital statistics

In support of the fact that Yugra (the bank) attracts deposits not with the aim of earning more before bankruptcy, but solely within the framework of its policy, reports were provided to the public, which attracted the attention of regulators. The thing is that after the adoption of an innovative strategy, the financial institution began to actively increase its loan portfolio. Thanks to the new advertising campaign, it was possible to attract deposits worth 18 billion rubles in the first month, and 20.5 billion duringsecond. The loan portfolio increased almost 1.6 times. Yugra (bank) offered the most profitable deposits, but this does not at all mean that it was on the verge of bankruptcy, rather, it indicated an aggressive policy and a desire to conquer the Russian financial market.

Change of shareholders did only good

By the end of 2012, a change of shareholders took place. The institution was owned by 6 people at the same time, who set themselves the goal of getting into the top 100 banks in Russia by capital. At the time of the change of ownership, the reserve owned by Yugra Bank, reviews of which had an extremely positive connotation, amounted to 4 billion rubles. It was planned to raise the figure to 7-10 billion rubles. It was planned to increase assets from the level of 27.3 billion rubles to 50 billion rubles. In the near future, after the change of shareholders, the media received a message about an increase in the authorized capital to 6.17 billion rubles. All of these events took place within three months before the financial institution was brought to the attention of the authorities in August.

History repeats itself

An unexpected check forced a radical change in the policy of the bank. Interest rates on deposits were reduced from 12.4% to 6.5% per annum on ruble deposits. Reduction of rates also took place in respect of foreign currency deposits. If earlier Bank Yugra (St. Petersburg) gave 7.9% per annum, today it offers no more than 2-3%, depending on the package. In addition to falling rates, there was prematurethe program called "Mobile Summer" was closed, which was the most highly profitable in the financial market. The Central Bank of the Russian Federation had every right to prohibit accepting deposits, but limited itself to only a warning. Throughout its history, the Central Bank has been actively fighting to lower rates as a result of falling inflation. According to representatives of public services, this approach to the situation provides new perspectives for bankers in terms of finding liquidity. Similar measures were taken against Sotsgorbank and Stroykredit, which also temporarily stopped accepting deposits for the duration of the audit and attributed this to technical difficulties.

What do customer reviews say?

Bank "Ugra" (St. Petersburg, Moscow) is known to customers as one of the leaders in the banking sector. According to depositors, the financial institution offers a wide range of various services and fully satisfies the needs of even the most fastidious clients. Those who have decided to take advantage of the offers of the financial structure do not stop talking about a convenient partnership format. We are talking about a huge number of branches, numerous ATMs and the latest technologies that allow you to carry out any transactions as quickly as possible. A distinctive feature of the partnership, many call the daily accrual of interest on deposits, which allows you to maximize the profitability of the latter. Bank "Ugra" overcame temporary problems easily and simply. Its high level of reliability is evidenced by the fact that it is practicallysurvived the crises of 1998 and 2008 without loss.

Government Recognized

"Yugra" (bank, Moscow) was recognized not only by a large number of customers, but also by the state itself. The Deposit Insurance Agency puts it on a par with Sberbank of Russia. In support of this fact, it can be said that after the revocation of the license of Tyumenagroprombank, its depositors (individuals) received compensation from the deposit insurance agency through Sberbank, and Yugra compensated the damage to entrepreneurial investors. The appearance on the list of agents just two years after entering the federal level is a significant signal that indicates one hundred percent confidence in the financial institution on the part of the state itself. During the crisis, when banks go bankrupt, and their management takes illegal measures to save their money, Yugra, a bank whose branch addresses are easy to find, not only found sources of financing, but also sent them to strengthen its structure. The capital did not "leak out" due to the difficult economic situation in the country, but, on the contrary, increased. Yugra (bank, Moscow) maintains a strong position, and its activities are aimed at the interests of customers. This makes this financial institution the most attractive for the citizens of the country.