Who owns Renaissance Bank? History of the development of Renaissance Credit Bank in Russia

K:Banks founded in 2000

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The bank was established in 2000 under the name AllianceInvest. In 2002, it received the name "Treasurer". In 2003, the bank was acquired by Renaissance Group and renamed Renaissance Capital. This allowed Renaissance Group to enter the retail consumer lending market.

In 2007, the bank began operating under the Renaissance Credit brand, and in 2013 its official name became the same.

Owners and management

The main owner of the bank is the ONEXIM group, which owns 83.02% of its authorized capital. Another 6.5% is owned by Evgeniy Yurchenko

At the beginning of 2012, ONEXIM Group acquired a 32.25% stake in the bank from Renaissance Group, and in November 2012 it purchased the remaining stake in Renaissance Group, increasing the share to 89.52%. During the last transaction, the investment bank Renaissance Capital, which was completely purchased by the group, also became the property of ONEXIM.

Evgeny Yurchenko acquired his stake from the ONEXIM group in May 2013.

Activity

Renaissance Credit is a bank that works with individuals. The main activities of the bank are related to issuing consumer loans, credit cards and accepting deposits.

In 2012, the bank issued unsecured loans worth 66.7 billion rubles, according to this indicator the bank took 7th place. The total volume of the portfolio of issued unsecured loans as of January 1, 2013 amounted to 62.6 billion rubles.

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Excerpt characterizing Renaissance Credit

At the beginning of winter, Prince Nikolai Andreich Bolkonsky and his daughter arrived in Moscow. Due to his past, his intelligence and originality, especially due to the weakening at that time of enthusiasm for the reign of Emperor Alexander, and due to the anti-French and patriotic trend that reigned in Moscow at that time, Prince Nikolai Andreich immediately became the subject of special respect from Muscovites and the center of Moscow opposition to the government.
The prince grew very old this year. Sharp signs of old age appeared in him: unexpected falling asleep, forgetfulness of immediate events and memory of long-standing ones, and the childish vanity with which he accepted the role of head of the Moscow opposition. Despite the fact that when the old man, especially in the evenings, came out to tea in his fur coat and powdered wig, and, touched by someone, began his abrupt stories about the past, or even more abrupt and harsh judgments about the present, he aroused in all his guests the same feeling of respectful respect. For visitors, this entire old house with huge dressing tables, pre-revolutionary furniture, these footmen in powder, and the cool and smart old man himself from the last century with his meek daughter and pretty French girl, who revered him, presented a majestically pleasant sight. But the visitors did not think that in addition to these two or three hours, during which they saw the owners, there were another 22 hours a day, during which the secret inner life of the house took place.
Recently in Moscow this inner life has become very difficult for Princess Marya. In Moscow she was deprived of those best joys - conversations with God's people and solitude - which refreshed her in Bald Mountains, and did not have any of the benefits and joys of metropolitan life. She did not go out into the world; everyone knew that her father would not let her go without him, and due to ill health he himself could not travel, and she was no longer invited to dinners and evenings. Princess Marya completely abandoned hope of marriage. She saw the coldness and bitterness with which Prince Nikolai Andreich received and sent away young people who could be suitors, who sometimes came to their house. Princess Marya had no friends: on this visit to Moscow she was disappointed in her two closest people. M lle Bourienne, with whom she had previously been unable to be completely frank, now became unpleasant to her and for some reason she began to move away from her. Julie, who was in Moscow and to whom Princess Marya wrote for five years in a row, turned out to be a complete stranger to her when Princess Marya again became acquainted with her in person. Julie at this time, having become one of the richest brides in Moscow on the occasion of the death of her brothers, was in the midst of social pleasures. She was surrounded by young people who, she thought, suddenly appreciated her merits. Julie was in that period of the aging society young lady who feels that her last chance for marriage has come, and now or never her fate must be decided. Princess Marya remembered with a sad smile on Thursdays that she now had no one to write to, since Julie, Julie, from whose presence she did not feel any joy, was here and saw her every week. She, like an old emigrant who refused to marry the lady with whom he spent his evenings for several years, regretted that Julie was here and she had no one to write to. Princess Marya had no one in Moscow to talk to, no one to confide in her grief, and much new grief had been added during this time. The time for Prince Andrei's return and his marriage was approaching, and his order to prepare his father for this was not only not fulfilled, but on the contrary, the matter seemed completely ruined, and the reminder of Countess Rostova infuriated the old prince, who was already out of sorts most of the time . A new grief that had recently increased for Princess Marya was the lessons that she gave to her six-year-old nephew. In her relationship with Nikolushka, she recognized with horror the irritability of her father. No matter how many times she told herself that she shouldn’t allow herself to get excited while teaching her nephew, almost every time she sat down with a pointer to learn the French alphabet, she so wanted to quickly and easily transfer her knowledge from herself into the child, who was already afraid that there was an aunt She would be angry that at the slightest inattention on the part of the boy she would flinch, hurry, get excited, raise her voice, sometimes pull him by the hand and put him in a corner. Having placed him in a corner, she herself began to cry over her evil, bad nature, and Nikolushka, imitating her sobs, left the corner without permission, approached her, pulled her wet hands away from her face, and consoled her. But what caused the princess more grief was her father’s irritability, always directed against his daughter and recently reaching the point of cruelty. If he had forced her to bow all night, if he had beaten her and forced her to carry firewood and water, it would never have occurred to her that her position was difficult; but this loving tormentor, the most cruel because he loved and tormented himself and her for that reason, deliberately knew how not only to insult and humiliate her, but also to prove to her that she was always to blame for everything. Lately, a new trait had appeared in him, one that tormented Princess Marya most of all - it was his greater rapprochement with m lle Bourienne. The thought that came to him, in the first minute after receiving news of his son’s intentions, that if Andrei marries, then he himself would marry Bourienne, apparently pleased him, and he stubbornly lately (as it seemed to Princess Marya) only in order to insult her, he showed special affection to m lle Bourienne and showed his dissatisfaction with his daughter by showing love for Bourienne.

Renaissance Credit is a Russian commercial bank whose main activities are related to issuing loans to the population. Full name - Commercial Bank "Renaissance Credit" (Limited Liability Company). The headquarters is located in Moscow.

The bank was created in 2000 under the name Alliance Invest. In 2002, it received the name "Treasurer". In 2003, the bank was acquired by Renaissance Group and renamed Renaissance Capital. This allowed Renaissance Group to enter the retail consumer lending market.

In 2007, the bank began operating under the Renaissance Credit brand, and in 2013 its official name became the same.

The main owner of the bank is the ONEXIM group, which owns 83.02% of its authorized capital. Another 6.5% is owned by Evgeniy Yurchenko.

At the beginning of 2012, ONEXIM Group acquired from Renaissance Group " 32.25% of the bank's shares, and in November 2012 bought the remaining stake " Renaissance Group ", increasing the share to 89.52%. During the last transaction, the investment bank Renaissance Capital, which would have been completely purchased by the group, also became the property of ONEXIM.

Evgeny Yurchenko acquired his stake from the ONEXIM group in May 2013.

« Renaissance Credit " - a bank working with individuals. The main activities of the bank are related to issuing consumer loans, credit cards and accepting deposits.

The bank has about 150 branches in Russia, and also cooperates with large federal retail chains.

2. Mission and credo of Renaissance Credit LLC

LLC KB<<Ренессанс >> - universal commercial bank

The bank provides its clients with the widest range of services for doing business and accumulating savings. The Bank employs a close-knit team of competent specialists who are able to find effective solutions even in non-standard conditions.

LLC KB<<Ренессанс>> - client business development bank

The bank helps its clients promote their businesses and expands their presence in the country's largest cities and international centers. Strictly observing the confidentiality of relationships between partners, the Bank takes a flexible approach to customer requests.

Bank credo

To meet the needs of its clients as fully as possible by providing a universal range of services

Show a flexible approach to the requests of corporate and private clients, as well as government agencies and organizations

Act as a reliable partner in developing clients’ business

To promote the implementation of important socio-economic programs and the direction of investment in the real sector of the economy.

3. Relationships with clients, business partners and representatives of state and municipal authorities, as well as relationships with competitors.

Relations with Clients, business partners and representatives of state and municipal authorities are built on the principles of good faith, honest professionalism, mutual trust and respect, priority of the Client's interests, inviolability of obligations, complete disclosure of necessary information, priority of negotiations over legal proceedings.

The Bank employee makes every effort to minimize any risks for the Client, business partner.

An employee of the Bank carefully considers and promptly responds to comments, complaints and claims addressed to the Bank.

A Bank employee does not disclose information about transactions, accounts and deposits of Clients and business partners, representatives of state and municipal authorities, as well as other information that may damage business reputation, other intangible or material interests of the Client, business partner, representatives of state and municipal authorities authorities, if the disclosure of such information is not provided for by the legislation of the Russian Federation.

Bank employees do not provide hidden preferences and advantages to Clients , business partners and representatives of state and municipal authorities.

The Bank Employee does not accept or transfer funds to third parties from Clients, business partners, their representatives or affiliates, and also does not enter into agreements with third parties granting the right to receive funds as remuneration for activities performed as a Bank Employee.

A Bank Employee does not accept property or services, and does not enter into agreements granting the right to receive property or services as remuneration for activities performed as a Bank Employee.

A Bank employee does not have the right to conduct research and evaluate the Client, business partner on behalf of the Bank, Banking structures, if this is not related to the performance of his official duties at the Bank.

Relations with the Bank's competitors will be based on the principles of honesty and mutual respect. In the event of disagreements and disputes in competition, priority is given to negotiations and the search for a compromise.

The history of the financial institution began in 2000. Initially it was called “AllianceInvest”. The purpose of its opening was to create a settlement center to serve regional organizations engaged in trade and industry. In 2002, the name of the bank changed to “Treasurer”. The following year, the Magnezit group sold it to organizations of the Renaissance Capital group, after which it continued to operate under the same name.

The new management chose consumer lending as the direction of the financial institute’s activities and began promoting its services under the Renaissance Credit brand. In 2004, the bank joined the deposit insurance system.

In 2010, a transaction took place for the financial institution to sell its subsidiary Ukrainian organization. The buyer was the SCM group of entrepreneur R. Akhmetov. Proceeds from sales were used to develop the retail business in the Russian Federation.

In 2012, the Onexim group acquired shares of structures that were part of the Renaissance Capital group and exercised control over Renaissance Credit Bank, and began to systematically increase its share in their capital. In 2013, she bought out shares of one of the structures that owned more than 80% of the bank’s capital, becoming its main shareholder after the completion of the transaction. A small part of the bank’s shares was acquired in the same year by the former head of the Svyazinvest group, E. Yurchenko. During this period, the Onexim group announced a transaction that provided it with the status of an indirect owner of 100% of the capital of the Renaissance financial holding (an investment bank operating under the Renaissance Capital brand).

In 2013, the sole shareholder of the retail credit institution changed its official name, bringing it into line with the brand name. She continued to work as CB Renaissance Credit LLC. The following year, information appeared in the media that the financial institution would act as a sanator for Svyaznoy Bank, which was in a rather difficult financial situation. However, these plans did not materialize; in 2015, it became known that Renaissance Credit had withdrawn its application to acquire Svyaznoy Bank.

Today, the status of the ultimate main shareholder of the financial institution belongs to M. Prokhorov. The latter owns about 86% of its shares through Renaissance Capital Investments LTD. and Onexim Holdings LTD. Shares in the authorized capital of Renaissance Credit of approximately 7% and 6% are owned by Bashton and E. Yurchenko, respectively.

The main office of the credit institution is based in the capital. In 2015, it had 36 additional offices, 156 credit and cash offices in the regions and 3 representative offices. In addition, there are approximately 46 thousand points of sale in the regions, located at points of sale of consumer goods. The bank does not have a network of ATMs and terminals, but cardholders can use the devices of 8 partner banks. Transactions are also available through payment terminals Elexnet, Qiwi, etc., payment systems UNIStream, Contact, etc., as well as at points of sale of cellular operators and large chain retailers of electronics and household appliances.

The bank has more than 6.4 thousand employees.

Renaissance Credit Bank offers the following types of loans:

Targeted loans for the purchase of goods and services
Car loans
General purpose loans
Issuing credit cards
Mortgage credit lending
Providing loans to employees

The partners of the financial institution are large chain retailers, as well as small regional companies and retail chains engaged in the sale of electronic goods, household appliances, furniture, etc. The bank cooperates with many well-known stores, including Media markt, M.Video, " Euroset”, etc. You can also use a bank loan by making purchases in online stores that have entered into a cooperation agreement with the bank. The latter include Kholodilnik.ru, Citylink, etc. The loan is issued online.

The banking organization provides cash loans on preferential terms to citizens who have reached retirement age. One of its proposals is to issue loans for organizing vacations.

In addition to the above, individuals can use the following services:

Registration of debit cards of the MasterCard payment system
Various deposit programs
Insurance - family, accident
Settlement and cash services
Remote banking services (Internet banking), etc.

The financial institution is one of the hundred largest credit institutions in the country; Its services are used by more than 8 million clients. In 2012, it was awarded the 2012 Company of the Year Award.

The history of the development and activities of the Renaissance Credit commercial bank deserve special attention - after all, it is one of the largest commercial banks in Russia in terms of the number of private clients served. The network of regional branches of the bank covers 68 regions of Russia, and the number of employees exceeds 11 thousand people. In attracting clients for services, the bank actively cooperates with the largest retail chains.

History of the bank

The banking structure, now known under the name Renaissance Credit Bank, began its existence in 2000 as a small bank called AllianceInvest, later (2002) renamed Treasurer. In 2003, the Renaissance Capital group of investment companies bought the bank from the previous owner and registered it under a new name - CB Renaissance Capital. At the same time, Renaissance Credit Bank began to be used as a brand name.

Since 2010, the bank's management has taken a course towards the active development of retail products, primarily consumer loans. At this time, the network of regional representative offices of the bank expanded significantly. Since 2012, the Onexim group of companies, owned by Mikhail Prokhorov, has become interested in Renaissance loan structures. Onexim began to gradually buy back the bank's shares from the owners; by 2013, the completion of this major transaction was announced. As a result, Onexim ended up with more than 83% of the bank's shares and complete control over this retail bank. In the spring of 2013, the official name of the bank was brought into line with the brand - the bank became known as CB Renaissance Credit LLC.

Areas of activity of Renaissance Credit Bank

CB Renaissance Credit Bank is primarily a retail bank. The name of the bank itself explains the purpose of its activities - retail lending to individuals. And indeed, in the bank’s assets, loans for individuals occupy a share of 82%, and in the bank’s total loan portfolio – 70%. The bank's retail network covers almost all the largest cities in Russia, and the number of clients has exceeded 5 million people. Renaissance Credit Bank's credit cards alone have issued more than 1 million.

Renaissance Credit actively cooperates with such developed retail chains as Svyaznoy, MTS, M.Video, Technosila, Euroset. This mutually beneficial cooperation allows us to constantly attract new clients and improve the conditions for the provision of services for them.

Despite the fact that servicing legal entities is not a priority direction of the bank’s development, in each of the branches of Renaissance Credit, an organization or an individual entrepreneur can easily open an account and consider options for obtaining a loan or, conversely, depositing funds.

Financial indicators and ratings of Renaissance Credit Bank

The one-sided development of Renaissance Credit Bank could not but affect its financial performance and ratings. The fact that all the bank’s assets are concentrated in unsecured retail loans makes this banking structure quite vulnerable, as noted by analysts from most rating agencies. Thus, the financial agency Fitch Ratings lowered the rating of Renaissance Credit Bank in 2013 to BBB(rus) with a negative outlook.

A large number of clients and bank branches does not significantly increase its financial performance. Renaissance Credit Bank ranks only 57th in terms of assets and only 905th in net profit. But in terms of the volume of retail loans issued, the bank is in the TOP 10.

The bank was founded in 2000 under the name AllianceInvest. Initially it was created as a settlement center for regional trade and industrial enterprises. In 2002 it was renamed "Treasurer". At the end of 2003, the credit institution was purchased from the Magnezit group by structures of the Renaissance Capital investment group and received the corresponding name - Renaissance Capital Commercial Bank. The new owners oriented the bank towards the consumer lending market, where the financial institution began operating under the Renaissance Credit brand. Since December 2004, the credit institution has been a participant in the deposit insurance system. In December 2010, the bank sold its Ukrainian subsidiary to the SCM group, owned by businessman Rinat Akhmetov. The proceeds from the sale were used to develop retail business in Russia. In 2012, Mikhail Prokhorov’s ONEXIM* group began to gradually buy out from Renaissance Group shares in the companies Renaissance Capital Investments Limited, Renaissance Capital Limited and Renaissance Capital International Services Limited, through which the retail Renaissance Credit was controlled.

At the beginning of April 2013, the bank announced the completion of a transaction for the purchase by Onexim Holdings Limited of the second half (50% plus ½ shares) of Renaissance Capital Investments Limited, which owned 83.02% in the retail bank. Thus, the ONEXIM group became the main owner of the retail bank with a share of 83.02%. A 6.5% stake was acquired in May 2013 by the former CEO of the Svyazinvest telecommunications group, Evgeny Yurchenko. At the same time, the ONEXIM group announced the completion of the transaction, as a result of which it became an indirect shareholder of 100% of Renaissance Financial Holdings Limited, an investment bank represented on international markets under the Renaissance Capital brand.

In March 2013, the only participant in the retail bank decided to change the official name in accordance with the designation of its brand - to LLC Commercial Bank Renaissance Credit.

Today, the ultimate main owner of Renaissance Credit Bank is Mikhail Prokhorov, who controls 86.00% of the bank’s capital through Renaissance Capital Investments Limited and Onexim Holdings Limited. Another 7.50% belongs to Lemerson Finance Limited (the ultimate beneficiary is Igor Kesaev), 6.50% belongs to Evgeniy Yurchenko.

As of June 30, 2018, the bank had 143 branches located in 62 regions of the Russian Federation, as well as 87.1 thousand points of sale in retail outlets throughout Russia. The credit institution's own ATM network is relatively small, mainly represented in Moscow and St. Petersburg. At the end of 2017, the bank's headcount was 8,557 employees (a year earlier - 9,403 employees).

The bank specializes in unsecured consumer lending. The product line for individuals includes consumer loans (including for pensioners), bank debit and credit cards (MasterCard), deposits, and remote servicing. The Financial Institute cooperates with both large federal retail chains and small regional companies and retail chains that specialize in the sale of electronics, household appliances, furniture, and other goods and services. Among the bank's key partners are Svyaznoy, Euroset, M. Video", "Eldorado", "Beeline", "MegaFon", Askona, Inventive Retail Group, TD "Lazurit", US Medica, "Maria Kitchens".

Since the beginning of 2018, the bank’s net assets have increased by 13.9% and by August 1 amounted to 151.3 billion rubles. In liabilities for the specified period, the main increase was provided by deposits of individuals (+13.9%). At the same time, the volume of funds raised from legal entities decreased by a little more than 30% in liabilities due to the bank’s repayment of subordinated Eurobonds. There was also an increase of almost 10% in equity capital due to the profits of previous years, confirmed by auditors. In assets, liquidity was mainly directed to lending to retail clients - the corresponding portfolio grew by 16.9%. It is also worth noting the complete repayment of loans to enterprises and organizations, the appearance of investments in bonds on the balance sheet and a reduction of highly liquid balances by 21%.

The structure of the bank's liabilities is poorly diversified and is characterized by a pronounced dependence on the funds of individuals: as of August 1, 2018, 71.3% of liabilities were deposits of individuals. The bulk of retail funds were raised for periods ranging from six months to three years. Funds from enterprises and organizations account for only 3.3% of the credit institution's liabilities as of August 1 and are almost entirely represented by subordinated loans from shareholders. The activity of the bank's client base is formed by individuals, whose monthly turnover on current and card accounts in recent months has consistently exceeded 40 billion rubles. The remaining part of the liabilities was formed by equity capital, the adequacy of which in terms of the N1.0 standard (total adequacy of equity capital) as of August 1, 2018 was 10.6% (with a minimum level of 8%) and remained almost unchanged compared to the beginning of 2018. Before the beginning of the second quarter of 2017, the value of N1.0 was less than 9.5%, and N1.2 - less than 7% (with a minimum of 6%), however, the bank’s profitability and doubling of the authorized capital allowed for a slight improvement in adequacy indicators own funds.

A significant share of assets (87% as of the reporting date) is traditionally formed by the retail loan portfolio. A share of 4.1% comes from issued interbank loans; 3.6% - highly liquid funds (correspondent account balances with the Central Bank, cash desk and correspondent accounts with non-residents); 1.3% is taken up by investments in bonds (the entire volume is formed by bonds of the Bank of Russia); almost 4% - other assets and fixed assets. Loans to legal entities decreased to zero on the balance sheet by the reporting date.

Since the beginning of 2018, the retail loan portfolio has increased by 16.9%. The share of overdue loans in the portfolio has remained almost unchanged since the beginning of 2018 and is slightly above 4%. The provisioning level remains conservative and at the reporting date is almost three times higher than the share of overdue loans. The loan portfolio is predominantly medium- and long-term.

Since August 2017, the financial institution has exclusively placed liquidity in the interbank lending market, using mainly short-term deposits in Russian banks. Placement turnover since the beginning of 2018 reached 90-140 billion rubles. The bank has traditionally maintained high turnover in foreign exchange transactions, but in 2018, activity in this direction was gradually reduced to a minimum.

For January - July 2018, the bank's net profit amounted to 3.3 billion rubles compared to a net profit of 2.8 billion rubles for the same period in 2017. It should be noted that in 2017 the bank became profitable after two unprofitable years.

Board of Directors: Dmitry Razumov (chairman), Dmitry Usanov, Alexander Zubkov, Alexey Levchenko.

Governing body: Alexey Levchenko (chairman), Tatiana Khondru, Sergey Korolev, Larisa Maryina.

* The ONEXIM Group is one of the largest private investment funds in Russia, with investment portfolios in the financial sector (Renaissance Credit and International Financial Club banks, Renaissance Capital investment company), energy (Quadra) and high technology (Optogan). The group was founded in 2007 by one of the largest Russian businessmen, Mikhail Prokhorov. According to the Forbes magazine rating, Mikhail Prokhorov in 2018 took 13th place in the list of the richest businessmen in Russia with assets valued at $9.6 billion. In May 2017, Mikhail Prokhorov sold the RBC media holding, and in February 2018 he finally left the capital of UC Rusal.