Financial News and Economical Crisis

Last year's increase in debt issues of banks led to a further fall of reservoir companies were able to buy portfolios of problem loans at a discount of up to 90%. Today the price of bad loans fell to 0,5-1% of the nominal value. Nevertheless, collectors are not in a hurry to encumber themselves elevated risk.

More and more banks and collectors interested in selling problematic portfolios. Certainly, the technology of interaction of banks and collectors of these types of work is very different, and bankers more interested in the cost of work on commission, rather than selling debt portfolios, - the director of Ukraine's Daughter Finance collections agency Kirill Tsiprivuz.

In addition, he said, in the Ukrainian market of only 5% of collection companies have investment opportunities for the purchase of debt portfolios. For the redemption of debt requires a lot of money. Therefore, the first question, which asked the bank: whether the collection company to pay money for a second day after signing the contract? - Said the general director of Credit Collection Group Grzegorz Kopaniazh.

Although, according to the Head of the monitoring and collection of loans OTP Bank Sergei Bondarev, the number of collection companies that can pay off the debts on the rise. What actually is a consequence of lowering the prices of portfolios.

However, according to Deputy Director General for Development Collection of the Center YUSB Nikolai Ivanov, to pay the debts of 10% in the past was not always profitable. To determine how much can cost portfolio, you need to divide the amount of debt that can be recovered in three. C portfolio volume $ 100 million offered for sale, it is possible to recover about 18%. More than 6% to pay for it, it would be disadvantageous, — Nikolay Ivanov told. According to Cyril Tsiprivuza, discounts on portfolio currently not regulated by market conditions. Discount is determined individually for each transaction, it affects the size of several factors: the interest of the bank, the transaction mechanism of transparency and understanding of the bank, financial company to acquire the portfolio, - said he.

collectors argue that the discount of 99% at present - a normal practice. As a general rule, the weight of one lot is measured by the tens of millions UAH. At the present time, an absolute majority of the banks could expect to buy portfolios of bad debts at the price of an average of 1% to 5% of nominal value, ie at a discount of 95-99%, - said the Deputy Director General of collection agencies AKM Alexander Scherbakov.

However, most collectors continue to work with banks for the commission, and the sale of debt collection companies to the portfolio of problem loans at a discount finuchrezhdeny is still little known. Redemption portfolios at their own expense or with the participation of investors in the collector imposes significant financial obligations. Assuming the error in the handling of purchased portfolios, collector risk your money in cash and the investor - stresses Cyril Tsiprivuz .- In our opinion, the best ratio in the current situation will have no more than 30% of purchased debt in the total amount of portfolio companies.

important factor is also a lack of legal sales of bond - primarily having problems with their accounting and taxation. In Ukraine there is no law that could improve the procedure for redemption of debt. For example, in Poland in 2005 were introduced tax breaks for finuchrezhdeny, giving collectors a negative debt: selling a portfolio of loans totaling $ 100 thousand over $ 20 thousand, they could attributed to the gross cost $ 80 thousand Once these innovations in the short term debt market in the country has increased four to five times , - said Mr. Kopaniazh.

However, as reported by the head of the Association of participants Collection business (AKBU) Alexander Ilchuk, the organization works closely with the Association of Ukrainian Banks, the Ukrainian Union of Credit and bank and the Ministry of Justice to improve the legislative framework that will enable a better cooperation with banks, collection companies .

In addition, AKBU negotiating a joint project with the International Finance Corporation to establish a fund to buy assets of problem banks. The relations of the IFC and AKBU - the normal process of development of the market purchase of debt - said Kirill Tsiprivuz .- The magnitude of the IFC are great, so that the project must also have a corresponding magnitude. According to him, a group of FASP is similar negotiations with the IFC on the level of Russia's central office.

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