As RBC learned, the BIN group of the Gutseriev-Shishkhanov family is buying MDM Bank. The transaction amount is unknown. Officially, the parties do not comment on it

Photo: TASS

A source familiar with the terms of the negotiations told RBC about the impending deal, and was confirmed by a person close to the bank’s management and an acquaintance of one of the participants in the deal. The press service of MDM Bank does not confirm or deny the information; the chairman of the board of MDM Bank, Timur Avdeenko, refused to comment, and the press service of B&N Bank did the same.

According to a RBC source familiar with the terms of the negotiations, after the purchase, the BIN group will merge MDM Bank with Binbank. The amount of the transaction is unknown, but it could be monetary, given that MDM Bank was recently recapitalized by 3 billion rubles, says a source close to the bank’s management. “Some members of the board did not receive salaries; the shareholders promised them part of the funds that they would receive after the sale of the bank,” says a source close to the bank’s management.

According to RBC's source at MDM Bank, management previously offered to buy the bank for one capital, but in a year. This information was confirmed by an interlocutor who spoke with managers who wanted to buy out the bank.

According to one of RBC’s interlocutors, the bank’s additional capitalization by 3 billion rubles. was a condition of the deal. According to RAEX General Director Pavel Samiev, MDM Bank could be valued at a multiplier of 0.8 to capital. “MDM Bank is close to Binbank in business, the client bases are unlikely to overlap, but the business profile and risk models are similar, so there should be a synergy effect,” says Samiev.

According to Interfax CEA, Binbank ranks 18th among Russian banks in terms of assets, MDM Bank ranks 26th. Binbank's assets amount to 482.8 billion rubles, MDM Bank - 339 billion rubles. The total assets of the two banks amount to 822 billion rubles, the same as the assets of Raiffeisenbank. Currently, 161.3 billion rubles are placed in MDM Bank. deposits in Binbank - 183.5 billion rubles. Thus, the volume of deposits in the merged bank could reach 345 billion rubles, which is more than in the Bank of Moscow (308 billion rubles), and slightly less than in Rosselkhozbank (352.5 billion rubles). Rosselkhozbank ranks fifth in terms of deposits (according to banki.ru).

Binbank can become even larger if it merges the banks of the Rost group that it is rehabilitating. A RBC source close to the BIN group explains the logic of the shareholders with the desire to grow the business in a crisis. “In a crisis, it is more profitable to take ready-made assets, portfolios for which reserves have been created, than to form new ones,” he notes, adding that BIN shareholders are also looking at other banks, and they are negotiating with some of their owners. Another RBC source close to the BIN group says that the shareholders followed the path of the owners of the Otkritie corporation, which, through the purchase and subsequent merger of banks, seriously increased its business.

However, the quality of MDM Bank's portfolio may disappoint the buyer. “MDM Bank has accumulated a large number of problem assets since the 2008 crisis and is still trying to restore their quality,” says Anastasia Turdyeva, an analyst at the S&P rating agency. According to her, about 10-15% of the loan portfolio has been restructured or shows signs of impairment. “Problem loans have been fully reserved, but the question is whether all problems are shown and whether there are potential ones,” she notes.

Sources familiar with MDM shareholders previously told RBC that the owners of MDM Bank (controlled by Sergei Popov, his share is 58.3%) have been trying to sell the bank since last summer.

Kings of palaces and wells

The basis of the Gutseriev family's wealth is oil and real estate.

Oil Collector

“I’m not afraid of anything anymore. I lost everything three times and started over. I’ll start now in the fourth,” this is how Mikhail Gutseriev described his oil business in an interview with Vedomosti in 2010.

In 2002, with the financial support of the Swiss trader Glencore, Gutseriev began collecting oil assets for the RussNeft company. Now the trader owns from 40 to 49% of the shares of its subsidiaries. Starting with Varyeganneft, the partners bought up fields, and already in 2004, RussNeft became one of the four largest oil companies in Russia, producing 10 million tons of oil per year. At the same time, Gutseriev added refining to production - two oil refineries: Krasnodarekoneft and Orsky.

At the end of 2005, RussNeft faced a serious problem: a criminal case was opened regarding the work of Nafta-Ulyanovsk CJSC, Ulyanovskneft OJSC and Aganneftegazgeologiya OJSC. The companies were suspected of producing oil in excess of the limit and, accordingly, of receiving excess income. As a result, Russneft was charged with tax evasion on an especially large scale; Gutseriev himself also became involved in a criminal case and was eventually forced to leave the country. In 2007, Gutseriev announced the sale of Russneft to the structures of Oleg Deripaska (the deal was never finalized due to opposition from the FAS Deripaska). Gutseriev’s problems in the media were associated with the fact that RussNeft was laying claim to part of YUKOS’ assets.

Two years later, the charges against Gutseriev were dropped, he returned to the country and took back his oil company. For their assistance, Gutseriev publicly thanked the co-owner of AFK Sistema Vladimir Yevtushenkov and the head of Sberbank German Gref. “Given that Sberbank is the main creditor of RussNeft, Gref’s opinion was key. I am grateful to him for his support of this project,” Gutseriev said in an interview with Vedomosti in 2010. That year, Gutseriev bought 49% of RussNeft from AFK Sistema (Sberbank had another 2%, but the bank transferred them to the company), and in 2013 he consolidated the company.

While not in Russia, Gutseriev created the oil company Neftisa, which included assets in Kazakhstan, Azerbaijan and Russia; the businessman spent $1.5 billion on their purchase. Gutseriev’s plans to merge Neftisa and RussNeft became known in early 2014 of the year. Gutseriev estimated the value of the merged company at approximately $18 billion. In March 2015, he announced that Glencore would receive 49% of the merged company. The shares of the subsidiaries will be converted into shares of the parent company, and Glencore will become its shareholder. In June, the FAS decided that Glencore was allowed to buy only 46% of the company.

Real estate collector

“Everything that my brother Sait-Salam [Gutseriev] and my nephew Mikail Shishkhanov earned, we invested in real estate,” Gutseriev told Vedomosti. According to Vedomosti estimates, at the end of 2012, the Gutseriev family owned hotels, offices and retail premises with a total area of about 178 thousand square meters on Tverskaya Street in Moscow alone. m. The Gutserievs bought up almost all the luxury hotels on Tverskaya: National, Marriott Grand Hotel, Marriott Tverskaya, InterContinental Moscow (on the site of the former Minsk) and Lux Hotel (formerly Central).

The Gutserievs began collecting Moscow real estate back in 2002, acquiring the Petrovsky and Smolensky passages. In 2006, the Gutserievs bought a controlling stake in Mospromstroy. It was not only one of the largest developers at that time (it included 45 general contracting and specialized enterprises), but also one of the largest owners of Moscow real estate: the Gutserievs got street retail on Tverskaya, three hotels managed by Marriott, two Holiday Inns, on Lesnaya Street and Sushchevsky Val, plus two hotels - in Sokolniki and Leningradskaya.

Since the late 2000s, there has been a rare year when the Gutserievs did not buy something. 2009 - half of the assets of the Horus group belong to the master of acquisitions Sergei Gordeev (four business centers and two construction sites). 2011 - share in the Moscow Hotel from the city and the developer Inteko from Elena Baturina. 2012 - "Garden Quarters" microdistrict in Khamovniki, hotels on Tverskaya near Bidzina Ivanishvili. 2013 - “International Logistics Partnership” (warehouses near Moscow for 730 thousand sq. m) with Viktor Vekselberg.

In March of this year, Mikhail Gutseriev announced Inteko’s plans to build a building for a joint parliamentary center in Nizhny Mnevniki (345 thousand sq. m - the center itself, plus about 1 million sq. m of housing in the neighborhood). In exchange for the project, the Gutserievs will receive the buildings of the State Duma and the Federation Council. The buildings will be demolished, and a hotel, shopping center or housing will be built in their place, Gutseriev promised.

Finally, a few days ago it became known that the Gutseriev family would become the largest landowner in New Moscow, having purchased 2.4 thousand hectares of land in the Kaluga direction from Vadim Moshkovich. There Moshkovich was going to build 20 million square meters. m of housing - now, obviously, this construction will be launched by the Gutserievs.

The BIN group of the Gutseriev-Shishkhanov family decided to buy MDM Bank