SMP Bank plans to replenish capital with 2 bln rubles from shareholders in 2012
MOSCOW. Aug 1. (Interfax) - SMP Bank plans to replenish its capital this year with 2 billion rubles of its shareholders' funds, one of the bank's owners and the chairman of its management board Dmitry Kalantyrskiy told Interfax in an interview.
Kalantyrskiy said that he plans to provide the lender with a subordinated deposit of $6.7 million (about 216 million rubles). The corresponding documents have already been submitted to the Central Bank of Russia (CBR).
"Besides profit, which will also be capitalized, we plan to attract roughly 2 billion additional rubles to the bank's capital as a whole this year. The form and scheme in which shareholders will additionally capitalize the bank is still being worked through and will in large part depend on the execution of the bank's plans to increase its loan portfolio," he said.
As of July 1, SMP Bank's equity capital had reached 10.195 billion rubles, up by 7.4% for the first six months of 2012 and by 80% for the year since July 1, 2011.
Also by July 1, the bank's statutory capital adequacy ratio was at 10.33%, compared to the lowest allowable 10%, whereas by January 1, 2012 it stood at 11.08%, and by January 1, 2011 it had reached 12.71%.
For 2011, SMP Bank's capital adequacy ratio to International Financial Reporting Standards (IFRS) was down from 16.57% to 11.31%. Its tier-1 capital adequacy ratio fell from 15.20% to 9.18%.
"Right now I can't say with certainty whether we will need shareholder support. That will depend on the growth rates of the bank's business and the market as a whole. But if it is needed in 2012, then that need will be minimal. However, that doesn't mean that we will attract shareholder funds in another form, since shareholders - including myself - are prepared to capitalize the bank," Kalantyrskiy said.
SMP Bank does not yet face the task of bringing new investors into its capital, he said.
SMP Bank has been operating on the Russian banking market since 2001. The brothers Arkady and Boris Rotenberg, who are entrepreneurs from St. Petersburg, each own 37.27% of the bank's shares, and Kalantyrskiy owns 10.73%.
The bank was Russia's 42nd largest bank by assets at the end of H1 2012, according to the Interfax-100 ranking.
