Problems of the financial market turn out to be more serious

Essential component of the state economy is financial market, the basis for that represents banking sector. At the same time, lately, non-banking financial sector is becoming more significant – firstly at global markets and, consequently, in Russia. Taking into account that the Central Bank of the RF as megaregulator tries to pay attention to all sectors of the financial market, the XXV jubilee banking congress held from June 29 to July 1, was named financial.

On the congress the head of the CB of the RF admitted that problems of the banking sector compared to the beginning of the recovery program of the banking system are much more substantial. Among them – facts of owners` business crediting instead of investment in good/sound projects and banks involvement in shady transactions through transit schemes, as a result, money return to the owners of banks or for fictitious capital increase of the credit organizations.

Breach of specified requirements by banks results in the fact that their licenses are suspended by the CB of the RF. Since 2013 amount of credit organizations with suspended licenses is more than 200, on some estimation, it is close to 300. This year suspending rate of unsustainable banks is 7-8 organizations per month, according to the megaregulator, work on detection and liquidation of unfair credit organizations is not finished.

Further development of the financial market will come on the background of external calls: long-term fall in average oil prices, low growth rate of the global economy, its delay in China, influence of brexit on the Russian financial system and economy in general, realization of structural reforms and monetary policy by central banks.

Certainly, the situation at the financial market does not satisfy anybody: the Government – because it leads to the slowdown of economic growth; the CB of the RF – because of growing distrust in credit organizations and financial market in general; and business – because of risks to lose funds in banks with suspended activities. Under current conditions the megaregulator is going to take some measures aimed to recover financial market sectors, among them:

  • to limit amount of credits by the special normative standard Н25 for associated with bank bodies in order to prevent from crediting of owners` business;
  • to raise minimal amount of bank equity capital to 1 bln RUB (currently 300 mln RUB), gradual raise of requirements will start with the beginning of 2018;
  • to 0,75 percentage point increase normative standard of legal reserve requirement;
  • to define criteria of credit organizations falling into the category of regional banks - raise of bank equity capital does not concern them, they will operate according to simplified regulation, will be limited by the credit projects rate and will not be able to carry out trans-border operations;
  • to change drastically the resolution procedure: according to practice, it is cheaper to save bank than to pay to its depositors;
  • to create the state fund, that will have access to capital of unsustainable banks, to take for resolution to the special governmental managing company, and to sell them after rehabilitation procedures by auction that helps full-rate return to the market.

However, banking risks still exist and during the investigation force to investigate bank, that contractor keeps an account in. Information and analytical system Globas-i provides all the necessary information on investigating bank, after analyzing data, generates the financial stability index of a bank, that helps to observe cooperation risks and realize the degree of influence on the contractor`s activity.

Assets turnover of the largest Russian postal and courier companies

Information agency Credinform prepared a ranking of the largest Russian private postal and courier companies on assets turnover.

The companies of postal and courier services with the highest volume of revenue were selected for the ranking, according to the data from the Statistical Register for the latest available accounting period - for the year 2014 (TOP-10). FSUE Russian Post is not included in the TOP-10, because it, as a government institution, occupies a leading position and significant market share. Enterprises of the rating are ranked by assets turnover from the maximum to the minimum rate of turnover for the year. (Table 1).

Assets turnover (times) is calculated as the relation of sales revenue to company’s average total assets for a period and characterizes the effectiveness of using of all available resources, regardless the source of their attraction. The ratio shows how many times per year the full cycle of production and circulation is performed, making a profit.

For getting of the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention not only to assets turnover, but also to all available combination of its ratios, financial and non-financial indicators.

Table 1. Net profit, revenue, assets turnover and solvency index Globas-i of postal and courier companies (TOP-10)
Name, INN, regionNet profit for 2014, mln RUBRevenue for 2014, mln RUBRevenue for 2014 by 2013, %Assets turnover, timesSolvency index Globas-i
INN 7722666748
2,4 648,6 190 6,65 253
INN 7718273254
1,3 587,9 110 5,35 257
INN 7724069257
3,8 558,2 89 5,08 267
INN 7713670064
63,2 650,5 157 4,25 186
The highest
INN 7723606727
14,6 983,1 119 4,23 250
INN 7715392567
-178,6 1 155,8 104 3,53 600
INN 7706757074
2,3 734,3 87 3,50 300
INN 7722274003
9,5 570,1 106 3,24 231
INN 7715356456
288,1 5 146,7 126 2,98 199
The highest
INN 7604039395
Yaroslavl region
140,4 993,1 103 1,25 255

The company with the highest revenue for 2014 - SPSR- EXPRESS LLC, took the ninth place of the ranking. The share of this firm in total revenue of TOP-10 companies made 43%.

SDEK-MSK LLC shows the best indicator of assets turnover. At the same time it has also the largest in TOP-10 revenue gain compared to the previous accounting period.

Half of companies from the TOP-10 showed a decrease in net profit in 2014 and among them are EMS GARANTPOST LLC and EKSPRESSDOSTAVKA 77 LLC, which let also, in addition, the reduction in revenue.

In general, on the combination of financial and non-financial indicators, eight companies from TOP-10 got the highest or high solvency index Globas-i. It testifies that they can pay off their debts in time and fully.

EKSPRESSDOSTAVKA 77 LLC got satisfactory solvency index Globas-i due to the availability of information about cases of delayed payments and financial difficulties at year-end 2014г.

O-COURIER LLC got unsatisfactory solvency index Globas-i due to the receipt of information in 2016 that the company is in the process of reorganization in the form of merger with another legal entity. In 2012 – 2015 the enterprise got consistently high solvency index Globas-i.

The average value of assets turnover in the TOP-10 group was 4,01 times in 2014. Russia's the largest postal operator - FSUE Russian Post, not included in this ranking, showed the asset turnover of 0,54 times in 2014.

Seven companies from TOP-10 have a share of foreign capital from 99% to 100%.

Picture 1. Assets turnover and sales revenue of companies of postal and courier services (TOP-10)
Assets turnover and sales revenue of companies of postal and courier services

In general, the industry of postal and courier services works effectively, showing increasing rates of revenue (Table 2.)

Таблица 2. Выручка (нетто) от почтовой и курьерской деятельности (за минусом НДС, акцизов и иных аналогичных обязательных платежей) (данные Росстата и Информационно-аналитической системы Глобас-i, тыс. рублей)
 201020112012201320142015 г.
Companies of courier and postal services, total in Russia 125 506 444 135 731 343 140 959 596 145 851 913 153 311 008 180 184 394
Companies of courier and postal services, except FSUE Russian Post 20 060 822 15 024 233 12 001 210 12 760 136 12 957 431 31 274 502

The total amount of revenue of TOP-10 companies for 2014 made 12 028 mln RUB, that is by 15% more than in 2013. This is significantly higher than the industry average for this period (Picture 2).

Picture 2. Increase (decrease) in revenue in the sector of postal and courier services from year to year (according to Rosstat and Information and analytical system Globas-i, %)
Increase (decrease) in revenue in the sector of postal and courier services from year to year (according to Rosstat and Information and analytical system Globas-i, %)

The industry of courier and postal services is characterized by a pronounced concentration of companies in Moscow. According to the Information and analytical system Globas-i, 50 the largest companies in terms of revenue for 2014 are registered in 16 regions of the country. The largest number of them is registered in the following regions (TOP-5 Regions):

RegionAmount of registered companies
Moscow 30
Republic of Tatarstan 3
Saint-Petersburg 2
Sverdlovsk region 2
Yaroslavl region 2