In Russian import the share of agricultural products of countries felt under Russian sanctions made 46% at year-end 2013.
In response for sanctions against Russia from Western countries the Government of the RF published the list of agricultural products, raw materials and provision prohibited for importation into the territory of Russia. The list includes cattle meat, pork meat and edible by-products of poultry, fish, crustaceans, molluscs and other aquatic invertebrates, milk and dairy products, as well as vegetables, edible roots, tuber crops and fruit.
Herewith the sanctions won’t concern baby food and goods, which people buy and bring from abroad by themselves in accordance with customs rules in force.
The import ban, coming into force since the 7th of August 2014, is valid for countries of European Community, the USA, Canada, Australia and Norway for the term of one year. However, the embargo term can be reconsidered by the change of political situation.
According to estimates of the experts from Credinform, the total volume of importation of agricultural products, raw materials and provision felt under embargo into the territory of Russia made 597,3 bln RUB at year-end 2013, herewith 46% of supplies or 275 bln RUB in monetary value were accounted for countries from Russian list of sanctions.
Following organizations can be distinguished among the largest companies-importers regarding the results of the previous year: Finnish manufacturer of dairy products Valio, Norwegian company for seafood production MARINE HARVEST, as well as International French private dairy concern Lactalis (ТМ President). Note, that after publication of sanctions the stock prices of MARINE HARVEST felt down by 12%, showed the worst dynamics for last six months.
It should be also noted, that in spite of an exacerbation of economic and political inter-relations between Russia and Western countries because of Ukrainian crisis, regarding the results of the 1st quarter of the current year, the volume of import from countries included in the black list of agricultural products increased by 54% in comparison with the 1st quarter of the previous year and reached 160,7 bln RUB.
|№||Country||Products||Import volume at the end of the 1st quarter 2014, in mln RUB|
|1||POLAND||FRESH APPLES, OTHERS||3806|
|2||NORWAY||ATLANTIC SALMON AND DANUBE SALMON, FRESH OR COOLED||3622|
|4||AUSTRALIA||BUTTER WITH FAT CONTENT NOT MORE THAN 85%,||1520|
|5||LITHUANIA||FRESH OR COOLED TOMATOS||1236|
|7||LITHUANIA||CHEESES WITH FAT CONTENT NOT MORE THAN 40%||1117|
|8||NORWAY||FRESH AND COOLED FISH||1080|
The Government of the RF is expecting internal positive impact from imposed restrictions. It is believed, that domestic agricultural producers win first of all, who complained many times, that it is difficult for Russian goods to make it into trading networks.
However, consumers express fear by now concerning possible deficit and price increase. The Government is instructed to ensure the balance of product markets and prevent the speedup in growth of prices on agricultural products, raw materials and provision.
In spite of the policy on «clearance» of the banking sector from shady credit organizations, carried out by the Central Bank, and weak enough macroeconomic indicators of the beginning of the year, the banking sector presents double-digit growth rates.
Events in the Ukraine also have their impact on the banking community. Sanctions, introduced by the USA toward a number of the largest credit institutions (Bank Rossiya, Gazprombank), which also forbid them to take on credits in the west, have led to consolidation of their assets and guarantees of support of the state. Increased worries of the public toward depreciation rates of the national currency have initiated a substantial growth of mortgage lending.
There are 821 operating banks in Russia (except non-banking credit companies and banks with revoked license) as of the 1st July 2014. The sum of their assets has reached 60 096 433,1 mln RUB, what is by 19% more than the similar period of the previous year (50 521 972,9 mln RUB). Besides 429 of them are registered in Moscow with total assets 47 329 535,7 mln RUB, or 78,8% of assets of all banking sector of the country. This fact points to over-centralization of financial flows in the capital. The Assets of Saint-Petersburg banks – next region on this indicator - 7 832 354,0 mln RUB, or 13% from all assets. Regional banks accumulate only 8,2% of assets.
Except centralization, the banking sector of Russia is characterized by a high concentration level – 78,5% of assets are accounted for the first TOP-30 banks, besides the leader’s share – of the Savings Bank of Russia – is 29,7%.
Among TOP-30 for the expired year following banks have increased their assets most of all: Natsionalny Kliringovy Tsentr (+268,7%), FK Otkrytie (+45,1%), VTB 24 (+35,9%), however MDM Bank, Uralsib and KHKF Bank have decreased their assets by 2,5%, 13,5% and 14,5% respectively.
Financial result of activity – the sum of net profit (loss) after taxation – is extremely non-uniform in the banking sector, Sberbank Rossii (the Savings Bank of Russia) has fixed the decrease of profit by 2,8% up to 186 416 mln RUB, what hadn’t prevented it from remaining a leader also on this indicator, on the other hand Bank Moskvy (Bank of Moscow) has increased profit by 653,9% up to 12 437 mln RUB.
The total capital of 821 banks of Russia as of the 1st July 2014 has reached 6 931 101,3 mln RUB, what is by 11,9% more than the similar value of the previous year. Among TOP-30 following banks had been most of all successful in increasing of the capital: Natsionalny Kliringovy Tsentr (+102,6%), Binbank (+35,9%) and VTB 24 (+31,6%).
|№||Name||Assets as of 1.07.14 in mln RUB||Change by 1.07.13 in %||Net profit (loss), as of 1.07.14 in mln RUB||Change by 1.07.13 in %||Capital as of 1.07.14 in mln RUB||Change by 1.07.13 in %|
|1||Sberbank Rossii||17 853 466||20,8||186 416||-2,8||2 085 597||14,2|
|2||VTB||6 421 716||27,3||57 955||26,3||624 500||-6,2|
|3||Gazprombank||3 814 396||18,5||22 164||88,8||378 418||2,5|
|4||VTB 24||2 374 047||35,9||10 747||3,8||227 532||31,6|
|5||Bank Moskvy||2 067 123||28,0||12 437||653,9||146 870||-9,7|
|6||Rosselkhozbank||1 883 096||5,4||1 014||3,0||242 379||24,3|
|7||Alfa-Bank||1 608 017||13,4||16 072||5,3||214 144||15,4|
|8||FK Otkrytie||1 010 146||45,1||5 022||152,0||113 734||22,7|
|9||Yunikredit Bank||947 737||18,9||5 695||12,1||131 098||10,5|
|10||Natsionalny Kliringovy Tsentr||933 306||286,7||4 318||49,5||33 200||102,6|
|11||Promsvyazbank||797 326||7,0||3 008||-24,6||95 110||6,9|
|12||Rosbank||774 233||5,7||3 453||89 934||4,3|
|13||Raiffaizenbank||751 606||7,3||9 248||21,7||88 975||10,4|
|14||Moskovsky Kreditny Bank||493 715||31,7||5 555||66,6||63 754||20,4|
|15||Bank "Sankt-Peterburg"||468 301||16,3||3 067||179,0||49 908||13,5|
|16||Rossiya||446 231||21,3||4 022||26,1||н.д.||-|
|17||Russky Standart||413 515||10,3||1 540||22,7||н.д.||-|
|18||AK Bars||392 959||11,7||184||-45,6||49 608||1,1|
|19||Uralsib||374 796||-13,5||1 054||280,9||48 209||-6,1|
|20||Sitibank||353 356||1,9||2 940||-11,3||53 119||-1,1|
|21||MDM Bank||351 045||-2,5||558||34 364||-5,1|
|22||Khanty-Mansiisky Bank||348 576||9,3||1 299||38,9||41 828||6,5|
|23||Svyaz-Bank||342 909||20,2||841||99,9||42 244||4,2|
|24||KHKF Bank||341 127||-14,5||703||-85,3||58 806||2,1|
|25||Nordea Bank||305 673||13,2||4 056||161,3||34 925||14,1|
|26||Bank Zenit||266 626||11,6||522||123,0||35 122||7,3|
|27||Petrokommerts||265 285||7,2||2 246||21 470||-14,9|
|28||Vostochny||261 344||4,2||-1 309||-332,1||32 376||13,4|
|29||Globeks||257 246||8,4||-2 121||33 595||-9,6|
|30||Binbank||246 180||24,8||583||56,8||29 908||35,9|
Processes, occurring inside the country, as well as deteriorating geopolitical environment, leads to that we observe a new restructuring of the banking sector. Shady credit organizations, which do not comply with standards of the Central bank and conduct illegal money-laundering transactions, withdraw from the market. Forming Eurasian Economic Union will open up new possibilities for our financial institutions for business operations in Belorussia and Kazakhstan. Creation of the national payment system should lead to that banks will emit and serve domestic bank cards inside the country, what, anyway, will expand their business.