The fact that the largest banks - Sberbank and VTB 24 - ready to refinance foreign currency loans to individuals in rubles, said their leaders. At a meeting with Prime Minister Vladimir Putin on Monday President of Sberbank German Gref called the refinancing of one of the forms of support to citizens who have lost jobs or income due to the crisis Unlike Sberbank, VTB 24 offers this month already. Proposal to convert commitment applies to mortgages, consumer loans and loans for small businesses. In addition, in mid-November, VTB 24 has refused to extradite cash loans in foreign currency. But as stated in the VTB 24 bank customers do not enjoy the suggestion for re-registration of foreign currency loans in rubles. As explained yesterday, "b" chairman VTB 24 Mikhail Zadornov, "citizens are not yet fully realized the profitability of the proposal to refinance foreign currency loans. "Our offices accept applications for refinancing of foreign currency denominated loans, work, of course, goes in this direction. However, wishing to do so in December was not so much as one would expect," - declared Mr. Zadornov. The fact that the cost of re-registration of citizens of foreign currency loans in rubles rather high, and the benefits are obvious. For example, payments on the updated credit in rubles are identical to the cost of servicing the loan in foreign currency. This explains the large difference in the cost of credit, which in the past few months has increased significantly. During the period from June 1, 2008 rates on consumer loans in rubles VTB 24 has increased from 16-24% to 21-25%, currency potrebkredity issued primarily by 18%. The cost of a mortgage from VTB 24 for the same period rose from 11,7-14,2 14,6-16,1% to% per annum. Today the bank refinances the loan at the rate in effect at the moment. In addition, for the refinancing of a loan the borrower will pay a lump sum fee of 24 thousand rubles. At the same time, according to Mikhail Zadornov, the share of foreign currency deposits in the liabilities of VTB 24 has increased significantly compared with the beginning of the year. If in the first months of 2008 they accounted for just over 20%, now - 45% (according to the bank on December 1). According to Russian reports, the retail credit portfolio VTB 24 on October 1, is 271 billion rubles., Of which 69 billion rubles. (25,4%) were loans made in foreign currency. For comparison, the share of foreign currency loans in the retail portfolio of physical persons in the Savings Bank is only 3%, estimated analyst at Sovlink Olga Belenkaya. In this situation, VTB 24 unprofitable to reduce foreign currency lending, said a senior analyst corporation Uralsib Leonid Slipchenko, and should hedge their own currency risks by issuing foreign currency loans in an amount close to the volume of deposits in foreign currency. The desire of state banks to convince borrowers need to convert foreign currency denominated obligations due not only to social policy, but also the increased credit risk. "Of course, given the currency risk, our profit potential may be less - admitted yesterday Mikhail Zadornov .- But it's better than if these loans would become problematic." As noted by Olga Belenkaya, weakening the national currency eliminates currency risk for the borrower in the long term. Benefit in this case and the banks themselves. According to the calculations of Mrs. fair, now the bank receives income by 9-10% more due to a difference in the rates on loans, but if the ruble devalues ??at least 20%, the bank will be losses of more than 10%. With a further strengthening of the dollar credit risk, banks will prevail over the currency, said Leonid Slipchenko, and failure of borrowers to refinance loans in foreign currency denominated only increases it. And in the largest banks are already preparing for this. If according to CB at the beginning of November 2008, the proportion of bad debts of natural persons in the system amounted to 1,3%, then the forecast Mikhail Zadornov in 2009 it could rise to 8%.
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