Introduction
Chapter 1. Economic content of assessing the financial stability and liquidity of the bank
1 The essence of assessing the financial stability and liquidity of the bank
2 Principles for assessing the financial stability and liquidity of a bank
3 Stages of assessing the financial stability and liquidity of the bank
Chapter 2. Assessment of financial stability and liquidity of the bank. CB "Uniastrum Bank" (LLC)
1 Characteristics of CB "Uniastrum Bank" (LLC)
2 Assessment of financial stability of CB "Uniastrum Bank" (LLC)
3 Liquidity assessment of CB "Uniastrum Bank" (LLC)
Chapter 3. Directions for increasing the financial stability and liquidity of the bank. CB "Uniastrum Bank" (LLC)
1 Ways to improve the financial stability of CB "Uniastrum Bank" (LLC)
2 Ways to improve the liquidity of CB "Uniastrum Bank" (LLC)
Conclusion
List of used literature
Applications
Introduction
The development of the market economy system in Russia occurs with great difficulties, which are characteristic of the specific state of our economy. An ever-increasing role in the transformation of the economy on a new basis is played by commercial banks. Over the past ten years, a two-tier banking system has been created and developed in Russia with new forms of management of credit institutions, with the expansion of traditional and the active introduction of new banking services.
At present, Russia is witnessing the structuring of the banking market, the formation of a separate development of banks of different categories of reliability and financial stability on it. In the conditions of the Russian market, only universal commercial banks, whose funds are invested in various sectors of the economy and various business areas, will apparently be able to survive and develop, which ensures their financial stability. They will have to deeply and constantly study the market situation, develop and implement a development strategy for the future.
In modern conditions, when there is intense competition in the capital market for the sphere of attracting financial resources and the sphere of capital investment, for banks, primarily commercial ones, the problem of managing the financial stability of a bank, that is, the choice and implementation of rational banking management, is very relevant. It is necessary for the bank to expand operations, advance in the market and make a profit.
The aggravation of the situation in the banking sector is a reflection of the instability of the general economic situation in the country. The limitations of budgetary support for enterprises, the inability of many of them to adapt to changing conditions and market demands, have led to the fact that many of them are on the verge of bankruptcy, unable to repay loans to commercial banks. This sharply worsens the financial stability of most banks. There are other reasons for financial instability - high taxes, ever-shrinking areas of profitable investment, a significant narrowing of the market for interbank loans. Apparently, as long as the economic situation in the country normalizes, problems in the development of the domestic banking system cannot be resolved. Only those banks will survive that competently manage their resources, conduct a prudent credit policy, constantly control their liquidity, which allows them to ensure financial stability.
The difficult situation in which the banking system found itself was largely due to the fault of the banks themselves: insufficient management competence, lack or shortcomings of strategic planning, inability to skillfully pursue a risk management policy, unprofessional management of bank assets and liabilities, is the cause of financial instability of credit institutions. The high-risk credit policy, the imbalance of resources and investments in terms of the terms of attraction and repayment are the main reasons for the deterioration of the position of many credit institutions and their bankruptcies. Much here depends on the leaders of the credit institution, on their ability to find and use profitable market niches, and improve financial stability. In these most difficult conditions, the use of the huge potential of the modern banking management system, which comprehensively takes into account the processes and changes taking place on the market, is of decisive importance. It is not for nothing that the current stage of development of the Russian banking system was named by experts from McKinsey & Co. time of financial managers . Only a deeply thought-out policy of the bank's management in the field of financial stability and a more complete use of the intellectual potential of highly qualified personnel can guarantee the normal development of a credit institution.
The existence of asset and liability management bodies in a commercial bank is an indispensable condition for its financial stability. The experience of Russian commercial banks confirms that the problems of managing a modern bank and, above all, active-passive operations are the most relevant for the banking system, which determines the importance and need for a deep study of this topic, exchange of views and experience.
The main task in building an asset management system is to optimize the balance sheet structure in order to ensure a high level of efficiency of banking operations while reducing costs, complying with mandatory economic standards and other existing risk restrictions. Efficient and balanced management of assets and liabilities in order to ensure the financial stability of banking operations increases the final assessment of the financial condition of the bank and its solvency.
However, the process of establishing the practice of asset and liability management has not been completed and a single methodology has not yet been created that would satisfy everyone.
A properly organized process of managing active and passive operations allows the bank to achieve consistent and stable growth in financial stability, realize opportunities and avoid dangers along the way. As banking develops, asset and liability management is increasingly becoming one of the main factors in the financial stability of not only a single bank, but the Russian banking system as a whole.
Given the relevance of the topic, this thesis is devoted to the problems of ensuring the financial stability and liquidity of a commercial bank, through the management of active operations of a commercial bank. As the main active operations, credit operations, operations with securities and foreign exchange operations are considered, that is, those operations that are the most risky in terms of undermining financial stability. A separate chapter is devoted to the management of bank liquidity through the management of active operations.
The purpose of this work is a comprehensive study of the current experience in the field of financial stability of commercial banks and its application in practice on the example of Unistrarium Bank LLC and the development of specific proposals to ensure the financial stability and liquidity of the bank, by improving the active operations management system in this bank .
To achieve this goal, it is necessary to solve the following tasks:
analyze the selected active operations in terms of diversification, profitability and liquidity, determine their impact on the financial stability of the bank;
analyze the effectiveness of financial management in the field of credit operations and operations with securities;
analyze the bank's liquidity based on its active operations, in terms of financial stability;
Object and subject of research.The object of research is the financial management system, its main subsystems: planning, performance management, risk management, liquidity management.
The subject of the research is the methodological, organizational and informational problems of formation of the system of financial management of stability and liquidity.
The purpose of this workis the development of the concept of an adaptive and integrated system of financial management of a credit institution, adequate to modern conditions. To do this, it is necessary to determine the main elements, the methodological and informational infrastructure of this system, as well as the main approaches to organizing its processes that ensure the implementation of this concept.
To achieve this goal, it is planned to solve the following tasks:
1)use a systematic approach to describe the processes of financial management of the bank, determine the main elements of this system and their relationship;
2)to study the main features of modern strategic management systems in credit institutions;
)justify the integrating role of financial management in achieving the strategic goals of the bank and the formation of its competitive advantage;
)develop a concept of strategic financial management, taking into account the current situation in the banking sector of the economy;
)develop directions for the development of a strategic planning system in credit institutions, including:
ü develop methods for financial justification of strategic plans based on a universal financial model;
ü develop the methodology of SWOT-analysis;
ü determine the organizational mechanisms that ensure the adaptability of the bank's strategy;
6)to develop directions for the modernization of methodological and organizational approaches to the organization of the main processes of financial management (management of efficiency and profitability, risks, liquidity), adapted to the specifics of strategic management:
ü determine a transfer pricing model that provides effective motivation for business units to increase efficiency, maintain liquidity and limit risks;
ü use the approaches of functional cost analysis for the formation of methods for managing the costs and operational risks of the bank;
ü develop methods for assessing the total risk of the bank;
ü determine the principles and methods for building a system of limits based on the distribution of risk capital and the coordination of strategic (structural) and operational restrictions;
ü to form a liquidity management process as a tool for integrating strategic and current decisions in the bank's strategic management system.
Chapter 1. Economic content of assessing the financial stability and liquidity of the bank
.1 The essence of assessing the financial stability and liquidity of the bank
The process of managing the financial stability of a commercial bank depends entirely on the management of assets and liabilities and is aimed at attracting the maximum allowable amount of resources (both own and borrowed) and placing them in the most profitable assets with a given level of liquidity and having a limited level of risk. At the same time, the bank's management should strive to maximize the current value of assets and optimize the final financial results, which will ensure the financial stability of a commercial bank. To do this, it is important to take into account the following cash flows that affect the financial stability and final efficiency of the bank:
receipt of interest income on all types of loans issued and coupon securities, as well as dividends on shares and discount on promissory notes;
change in the market value of securities portfolios;
payment of interest on attracted resources of all kinds;
net inflow (outflow) of new resources (own and borrowed);
change in the value of assets caused by the need for their unscheduled sale in order to fulfill current obligations or transfer funds into certain types of investments [No. 26, p. 23].
From the point of view of ensuring the financial stability of cash flows, the bank's activities are divided into two parts:
Passive operations - operations to raise funds, for example:
acceptance of deposits (deposits)
issuance of own debt
obtaining loans from other banks.
The passive operations of banks also include the formation of their own funds (capital), for example, the replenishment of the authorized capital through the additional issue of shares, the formation of reserve and special funds.
Active operations - operations for the placement of funds, for example:
issuance of loans (credits)
purchase of securities
purchase of currency, precious metals and others [№16, p. 5].
This classification is generally accepted, and all other authors agree with it. In this paper, we will consider the second part - active operations.
A slightly different classification of active operations was given by L.G. Batrakova. On the balance sheet asset, you can track the distribution of bank resources for 4 types of active operations:
Loans on demand or with short-term advance notice;
clientele loans and other accounts. This section includes the main sources of the bank's gross income. On average, in Russian practice, it is allowed for customer loans to reach 50% of the total balances of current, deposit, savings and other customer accounts;
L.G. Batrakova draws attention to the fact that in Russian banks at the present stage there is an increased interest in foreign exchange transactions, while, for example, a mortgage loan is extremely undeveloped. She also notes the growth in the share of interbank credit, which has become a source of financing for long-term projects for banks.
The financial stability of a commercial bank is ensured by active banking operations. When performing active operations, banks place their own funds and borrowed resources in order to generate income. When deciding on the direction of placement of funds, banks are guided by the following goals:
maintaining an optimal structure of assets that ensure their sufficient liquidity;
asset diversification to reduce risks;
increase in return on assets [No. 16, p. 38].
The concept of liquidity is not defined unambiguously by different authors, but in any case, this is exactly the indicator that ensures the financial stability of a commercial bank and allows you to manage it. In foreign and domestic literature, this concept is interpreted in different ways. Some authors, mostly domestic, for example, O.I. Lavrushin, V.I. Bukato and Yu.I. Lvov, limit themselves to the simplest definition of liquidity - as the ability to convert bank assets into cash [No. 11, 13]. Other specialists, E.F. Zhukov, V.I. Kolesnikov, add to the definition of liquidity the ability to timely meet the requirements for payments on bank obligations, thereby including the concept of liquidity and the concept of bank solvency [No. 10, 14]. The third point of view in connection with the definition of liquidity is expressed mainly by foreign authors - P. Rose, J. Sinki. They add to the concept of liquidity the ability of the bank to raise funds at a reasonable price and at the exact moment when they are needed, as well as the ability of the bank to be ready to meet the needs for credit from the clients it serves [#17, 19].
Considering what has been said in this thesis, it is proposed to dwell on the definition of D.A. Kiseleva and V.V. Ivanov, who propose to understand liquidity as the bank's ability to meet its obligations in a timely manner and at minimal cost and meet the needs of customers for new loans [No. 28, pp. 55-56]. Cash on hand, on correspondent accounts of the bank in the cash settlement center and other banks are absolutely liquid assets that can be used at any time to pay depositors and creditors. Loans issued, deposits placed with other banks, short-term financial investments, accounts receivable, which are due within the next 30 days, are liquid assets. Long-term financial investments, investments in fixed assets are assets of long-term liquidity. As part of the bank's assets, there may also be practically illiquid assets, for example, overdue debt on loans issued, such items reduce the financial stability of a commercial bank and require management decisions to be made to liquidate them.
The paper emphasizes that the stability and financial stability of the bank is based on its own capital, the regulation of which should be ensured in accordance with international requirements. It is impossible to analyze various aspects of the stability of individual banks without identifying the dynamics of development of the entire banking system. As can be seen from Figure 1.1, the growth of the financial results of the banking sector directly depends on the growth of their capital. That is why the stable growth dynamics of the capital of the banking sector is the most important factor in increasing its financial stability. The growth dynamics of the financial performance of banks corresponded to the dynamics of capital growth and indicators of the ratio of capital to assets and GDP until about the end of 2006. Subsequent developments showed that the deterioration of these indicators was not accidental and led to an increase in liquidity problems in the banking system and affected the decline financial result. To maintain the stability of the banking system, the government of the Russian Federation allocated 439 billion rubles from the budget in 2008 to replenish the authorized capital of banks.
Rice. 1. - Relationship between capital growth and financial result
banking activities in Russia
In the study, the concept the stability of a commercial bank is defined as such a qualitative and quantitative state of its assets and liabilities, in which the strengthening of reliability and stability in the activities of the bank and the increase in confidence in it on the part of all market participants are achieved, i.e. it is broader than the concept of solvency, which is often equated with sustainability. In turn, the concept of reliability is narrower and represents the bank's ability to withstand all negative market factors. At the same time, sustainability makes it possible to effectively mitigate negative factors at the initial stage of their manifestation, thereby reducing the negative consequences in the future. concept stability characterizes the long-term preservation of stability, without, however, meaning its direct increase.
The analysis carried out in the study showed that the category of stability of a commercial bank includes two aspects: the objective one is the ability of the bank to fulfill its specific obligations and the subjective one is the ability to inspire confidence in customers and their counterparties in fulfilling their obligations.
Figure 1.2 shows the most significant external (general economic content factors) and internal factors (which can be influenced by the bank itself) that affect the stability of a commercial bank.
Bank stabilitySocial and political factorsGeneral economic factorsStable social and economic course of the governmentForeign economic situation and the state of external debtThe level of economic reformsInvestment activity of industries and regionsMarket conjunctureSustainability of the banking system as a wholeInternal stability of the bankThe level of bank managementBank's capitalCompetitiveness of the bankMonetary and credit policyImplementation of the Basel principles processControl policy of the Central Bank Rice. 1.2 - Factors affecting the stability of a commercial bank
Most scientists and practitioners recognize equity capital as a key element of the bank's financial stability. The purpose of capital at the stage of bank formation is to create the material base necessary for a credit institution to start its activities, and then to expand and modernize it.
As parameters influencing the stability of a commercial bank, it is necessary to single out the following external and internal factors:
a) the socio-political situation, which includes the stability of power structures, the influence of the opposition, the adjustment of financial, economic and social policies, stability or social tension in administrative-territorial entities, the level of legislative culture;
b) general economic condition - the potential of the real sector of the economy, the renewal and retirement of production capacities, the competitiveness of commodity producers, the balance of payments of the country, the possibility of intersectoral overflow of resources, investments (inflow / outflow of capital);
c) position in the financial market, including the interest rate for attracting bank deposits, the profitability of the money market, the profitability of the securities market, the exchange rate of the national currency, the volume of demand / supply for the currency, operations on the foreign exchange market, money emission, inflation rates and inflation expectations, the cost of servicing public debt, the policy of the Bank of Russia, the volume of international reserves, the supply of money supply, the competition of banking products/services;
d) the internal stability of a credit institution includes parameters reflecting the presence/absence of an effective market strategy of the bank, the professional qualifications of personnel, the quality of bank management, and capital adequacy.
The study argues that when analyzing the financial condition of a bank, absolute indicators do not provide complete and objective information about the object of study, therefore, it becomes necessary to use a system of relative indicators that allow studying and evaluating this condition, as well as characterizing the indicator of the bank's own capital.
The study highlights those aspects of financial stability that can be considered as universal in relation to the situation that has developed by the end of the first decade of the 21st century, bearing in mind that they are a response to new phenomena that can destabilize the activities of individual banks and the entire banking system. Undoubtedly, new means of raising anti-crisis work in banks should be based on tools already tested in world practice, the purpose of which remains capital adequacy as the basis for sustainability, since the mechanism for ensuring the stability of banks has a dialectical character, i.e. should be considered in dynamics and in relation to reality.
Such funds, possible and necessary in the activities of domestic banks, taking into account the peculiarities of the current stage of development, can be divided into the following types: constant monitoring of financial stability and assessment of strong and weak aspects in its provision; analysis of cash flows passing through the bank; periodic self-testing in case of stressful situations; development and control of internal standards and limits of operations; preparation of a bank reorganization program on its own initiative in the event of a deterioration in the financial situation; development of approaches in cases of difficulties and problem situations.
The financial stability of a bank can be classified into the following types:
a) in time:
current is financial stability at a given point in time;
temporary is financial stability for some point in time in the future. It is conditionally divided into short-term, medium-term and long-term;
b) in terms of resources - stability in terms of obligations under current accounts (settlements), deposits, etc.;
c) in terms of security - stability in terms of repayment of loans, repayment of investments in securities, etc.
Regulators are primarily interested in long-term sustainability.
General requirements for all anti-crisis measures taken by the bank must be fixed in the bank's internal documents.
Also, special attention is paid to the study of the impact of risks on banking activities, since effective management of banking risks allows you to determine the requirements for the level of financial stability of the bank. The very definition of risk expresses the idea of achieving the stability of financial indicators, reflecting, first of all, the positive dynamics of assets in relation to income.
The search for optimal correlations between the profitability of business processes and the level of accepted risks is the goal of strategic planning of the bank's activities. In its implementation, the problem of maximizing the profitability function of the bank under the existing restrictions on the total risk is solved. The parameters of the profitability function are the volumes of the bank's deposit and investment products, the profitability of which is determined by the scenario of the development of the macroeconomic situation. Restrictions on the parameters are risks (losses) and limits that determine the volume and structure of financial instruments in the bank's balance sheet.
One of the most acute problems of strengthening the stability of the bank is to improve the quality of corporate governance practices and the real implementation of risk management procedures in the current activities of a commercial bank.
Tracking the future stability of the bank has two directions: control by the bank itself and control by the regulatory authorities (CB). These two areas have fundamentally different methods of control. Internal control should be based on risk management tools and provisioning, while external control should be based on compliance and assessments by rating agencies.
1.2 Principles for assessing the financial stability and liquidity of a bank
The assessment of the sustainable functioning of commercial banks is important from the point of view of all subjects of the market economy - banking clients, shareholders, the state, investors and, above all, the banks themselves. This assessment allows you to determine the main directions of development and the specification of the bank, which may change over time.
In modern conditions, the assessment of the sustainability of any economic entity is based on certain criteria. A criterion is usually understood as a sign on the basis of which an assessment is made. The criteria for the bank's financial stability include: capital adequacy, asset quality, liability quality, liquidity, profitability. For the purposes of further analysis, it is important to specify the content of these criteria.
In banking, one of the main conditions for ensuring the financial stability of a commercial bank is the adequacy of the bank's own capital or the adequacy of capital to the scale and nature of the operations carried out. The importance and role of a sufficient amount of the bank's own capital was noted by many Russian economists. The equity capital of a commercial bank is the basis of its activities and is an important source of the resource base. It is designed to maintain customer confidence in the bank and convince creditors of its financial stability. Capital should be sufficient to provide borrowers with confidence that the bank is able to meet their loan needs even under adverse economic conditions. In turn, the confidence of depositors and creditors in banks ensures the stability and reliability of the entire banking system of the country. These reasons led to increased attention of state and international supervisory authorities to the amount of the bank's equity capital, and the capital adequacy ratio was considered one of the most important in assessing the stability of the bank.
Formation of the concept of capital adequacy of the bank has become in recent years one of the most serious problems in assessing the stability of the bank. Such attention to the size of the bank's own capital is associated with the functions that it performs in daily activities and to ensure its long-term functioning. The functions performed by the bank's own capital are ambiguously defined both in domestic and Western economic literature. Traditionally, there are three main functions: protective, operational, regulatory.
Since a significant amount of assets is financed by borrowed funds, the main function of the bank's capital is recognized as a protective function, which is implemented by absorbing possible losses and protecting the interests of depositors. A bank's equity capital also reduces the risk to deposit insurance funds by ensuring that liabilities to depositors are met that are not covered by the bank's assets. Thus, the protective function means: the possibility of paying compensation to depositors in the event of the bank's liquidation; maintaining its solvency due to the created reserves to cover credit, interest and currency risks; continuation of the bank's activities, regardless of the threat of losses. Note that for investors in countries with a developed market economy (for example, the United States), the protective function of capital is not as important as for domestic ones, since in the event of the collapse of an American bank, the deposits of its depositors (up to $ 100,000) are subject to 100% reimbursed by the Federal Deposit Insurance Corporation.
The operational function of the bank's own capital is considered secondary compared to the protective one. It is expressed in the fact that capital is a source of financing the costs of creating the material and technical base of the bank. This source of financial resources is indispensable at the initial stages of the bank's activity, when the founders carry out a number of priority expenses. The equity in this function should provide an adequate growth base for the bank's assets, i.e. maintain the volume and nature of banking operations. Therefore, banks with conservative activities may have smaller equity capital, while banks whose activities are characterized by increased risk may have larger ones.
The regulatory function of equity capital is associated exclusively with the special interest of society, represented by the state, in the sustainable functioning of banks. Commercial banks play the role of an important social institution. The financial stability of an individual bank and the entire banking system as a whole is associated with the activities of manufacturing enterprises, budgetary institutions, and the safety of the population's savings. Therefore, society represented by the Central Bank of the Russian Federation is interested in using reliable tools for economic regulation of banks. This is manifested in the establishment of mandatory economic standards for commercial banks.
Calculation of almost all the regulations governing the activities of banks is carried out on the basis of equity capital.
The operational and production function is expressed in the fact that the bank's capital can be used to build new offices, branch network, expand the market space, and introduce new banking business technologies.
The image function means that capital maintains the trust of customers in the bank and convinces creditors of its financial strength.
The income function of capital assumes that the level of bank capital should provide shareholders and founders of the bank with confidence in positioning in the market and a constant source of income in the form of dividends and interest.
Capital represents the funds needed to create, organize and operate a bank until sufficient deposits are attracted.
The capital serves to compensate for the bank's current losses associated with the non-return of funds placed in assets.
Capital is a barometer of client resilience and reassures lenders that they can perform well, even in an economic downturn.
Capital provides funds for organizational growth, provision of new services, implementation of new programs and purchase of equipment.
Capital serves as one of the main criteria for limiting the various types of risk that the bank takes on.
In general, despite the different approaches to defining the functions of capital, I would like to note that all the considered functions contribute to reducing the risks arising in the activities of a commercial bank. This approach is of great importance, practicality and corresponds to the goals of managing a commercial bank.
The functions performed by equity capital, and its importance for monitoring the activities of banks, necessitated the definition of some indicator, using which one could recognize the value of equity capital as evidence of its reliability and stability, and the sustainability criterion would be internationally recognized. The difficulty of finding such an indicator was that it had to be defined as a relative value, using which it would be possible to determine the adequacy, that is, the sufficiency, of capital for the conditions of a particular bank, taking into account the nature and structure of the services it provides.
Maintaining a sufficient level of capital is one of the conditions for the sustainability and stability of the banking system. It is difficult and almost impossible to accurately determine the amount of equity capital that a bank or the banking system as a whole should have. But the capital must be sufficient to perform all the functions considered.
Capital in sufficient amount for the normal operation of the bank is a kind of "shock absorber" that allows the bank to remain solvent and continue operations in spite of any events. An undercapitalized bank is exposed to a higher risk of bankruptcy in the event of a deterioration in economic, political, financial or other business conditions.
The amount of capital required depends on the risk that the bank takes on. Therefore, the bank is always faced with a dilemma: whether to increase its capital as the risk increases or invest it in low-risk, but low-yielding assets. In today's environment, commercial banks have traditionally sought to keep capital at a lower level to increase efficiency through economies of scale and to increase investor returns. At the same time, the task of supervisors is to achieve a higher level of capital adequacy for banks to improve the stability of the banking system as a whole.
What is meant by capital adequacy?
capital adequacy is the bank's ability to compensate for losses and prevent bankruptcy;
capital adequacy is the ability of the bank to continue to provide the same volume of traditional set and standard quality banking services, regardless of possible losses of one kind or another on active operations.
The concept of "capital adequacy (or adequacy)" of a bank accumulates such qualities as reliability, stability of the bank, and the ability to counteract adverse external factors.
1.3 Stages of assessing the financial stability and liquidity of the bank
The method of complex analysis, focused on the assessment of financial stability, allows you to determine the type of financial stability of a particular commercial bank based on the results of this analysis.
The classification of types of financial stability subject to the conditions of external stability is given in table 1.1.
Table 1.1 - Classification of types of financial stability of the bank
Indicator Type of financial stabilityabsolute stabilitynormal stabilityunstable positioncrisis positionI1> 0< 0< 0< 0И2> 0> 0< 0< 0И3> 0> 0> 0< 0
The three indicators given in the table characterize the security of credit investments of a commercial bank with sources of financing:
- I1- surplus (+) or shortage (-) of equity sources, defined as the difference K1 - Kr, where K1- coverage ratio of the bank's own capital, Cr- credit investments of the bank, including overdue debts ;
- AND 2 -surplus (+) or shortage (-) of sources of equity capital and long-term loans received, defined as the difference K2 - Kr, where: K2- ratio of capital coverage of the most risky types of assets;
- FROM- Surplus (+) or shortage (-) of sources of equity capital, long-term and short-term loans received, is defined as the difference K3 - Kr, where K3- coefficient of immobilization. Methodology for analyzing the financial stability of a commercial bank based on indicators of transformed reporting. The analysis includes indicators grouped into five groups:
1. Capital adequacy:
1. Capital adequacy ratio ( To1 )
2. The indicator of assessing the quality of capital ( To2 )
Passive quality:
1. Customer base indicator ( To3 )
2. Resource base stability indicator ( To4 )
Asset quality:
1. The indicator of the effectiveness of the use of assets ( To5 )
2. The indicator of the efficiency of lending operations ( To6 )
Liquidity:
1. Instant liquidity ratio ( To7 )
2. Current liquidity ratio ( To8 )
Profitability:
1. Return on assets ( To9 )
5.2. Return on equity ( To10 )
Table 1.2 - The system of indicators used in the assessment
financial stability of commercial banks
№Indicators of financial stabilityRecommended value of the indicator,% 1. Capital adequacy: К1 not less than 11К2 not more than 302. Quality of liabilities: К3 not less than 80 К4 not less than 703. Quality of assets: К5 not less than 65К6 not less than 804. Liquidity: К7 not less than 15К8 not less than 505. Profitability: К9 not less than 5К10at least 10
The considered approach makes it possible to interpret reporting indicators formed according to the requirements of international standards for the tasks of various user groups - from creditors to bank shareholders. The technique allows assessing the financial condition of the bank in terms of its proximity to the reference state, and in terms of remoteness from the critical state. Therefore, a prosperous bank has financial indicators that correspond to the regulatory minimum values determined based on the criteria for capital adequacy, the quality of asset and liability management, the liquidity and profitability of its capital and activities.
Chapter 2. Assessment of financial stability and liquidity of the bank. CB "Uniastrum Bank" (LLC)
.1 Characteristics of CB "Uniastrum Bank" (LLC)
CB "Uniastrum Bank" (LLC) has existed for more than 14 years. The issuing credit institution was established for an indefinite period.
Commercial Bank "Uniastrum Bank" (Limited Liability Company) was established in 1994. Date of registration with the Central Bank of the Russian Federation - March 31, 1994, general license of the Central Bank of the Russian Federation No. 2771 dated May 5, 2005.
Today "Uniastrum Bank" is a universal credit organization that offers its clients a wide range of modern financial products and services, equally high in quality at all service points. More than 4,000 highly qualified specialists work in the bank's offices throughout Russia, and the number of regular customers amounts to hundreds of thousands.
Uniastrum Bank works for the benefit of its customers and develops together with them. Among the most demanded services of the bank are services aimed at meeting the needs of individuals, representatives of small and medium-sized businesses.
The Bank may carry out the following banking operations:
attracting funds from individuals and legal entities in deposits (on demand and for a certain period);
placement of the above raised funds on its own behalf and at its own expense;
opening and maintaining bank accounts of individuals and legal entities;
making settlements on behalf of individuals and legal entities, including correspondent banks, on their bank accounts;
collection of funds, bills of exchange, payment and settlement documents and cash services for individuals and legal entities;
purchase and sale of foreign currency in cash and non-cash forms;
issuance of bank guarantees;
implementation of money transfers on behalf of individuals without opening bank accounts (except for postal orders).
attraction to deposits and placement of precious metals;
The Bank, in addition to the banking operations listed above, is entitled to carry out the following transactions:
issuance of guarantees for third parties, providing for the fulfillment of obligations in cash;
acquisition of the right to claim from third parties the fulfillment of obligations in cash;
trust management of funds and other property under an agreement with individuals and legal entities;
carrying out operations with precious metals and precious stones in accordance with the legislation of the Russian Federation;
leasing to individuals and legal entities special premises or safes located in them for storing documents and valuables;
leasing operations;
provision of consulting and information services.
The main strategic goal of the Bank is to increase the value of the business in the long term. Current tasks include the following:
development of a modern, client-oriented, universal, competitive bank aimed at servicing retail clients, small and medium-sized businesses;
transition to a corporate management model that complies with the best foreign practices, contributing to the improvement of the quality of risk management in the current conditions of banking business;
further development and improvement of the efficiency of the regional network;
continuous qualitative improvement of customer service through investments in information banking technologies and the Bank's personnel.
The main competitors in the Consumer loans business are:
Sberbank RF
Gazprombank
Bank of Moscow
Rosbank and some others.
The main factors of competitiveness are
The flexibility of the services provided and their continuous improvement in relation to the needs of the market.
Service delivery speed.
An extensive branch network (providing a full range of services in any division of the Bank).
High quality of rendered services.
The degree of influence of these factors on competitiveness, in the opinion of the Credit Organization - Issuer, is significant.
Among the main trends in the banking services market, the most important for the Bank, are:
increased competition;
ongoing consolidation of the banking system;
expansion into the regions.
Starting from 2001, Uniastrum Bank began to actively develop its branch network. Currently, the Bank is among the ten largest banks in the country in terms of the number of points of sale and ranks first among private banks in terms of the number of additional offices in the Moscow region. As of October 01, 2008, 42 branches and more than 220 service points were registered in 45 regions of Russia.
In July 2001, the first branch of Uniastrum Bank LLC was opened in Ivanovo, in 2002 - in Rostov-on-Don.
Since 2003, the active development of the regional network begins, branches of Uniastrum Bank LLC open in Kaliningrad, Yaroslavl, Samara, Saratov, Krasnoyarsk, Tyumen, Perm, Chelyabinsk, Stavropol, Ufa, Yekaterinburg, Krasnodar, Volgograd and Novosibirsk. From 2004 to 2007 26 more branches of the Bank are being opened in various regions of Russia, and at present the branch network covers 45 regions of the Russian Federation.
The sales network in the Moscow region is developing rapidly. In 2004, 6 additional buildings were opened in the region. offices, in 2005 - 14 subsidiaries, in 2006 - already 27. Currently, more than 220 points of sale of Uniastrum Bank are successfully operating in all key regions of Russia.
Today, the main task in the development of Uniastrum Bank's branch network is to optimize its work, as well as increase the efficiency and profitability of existing branches and additional offices.
The Bank operates in three main areas: retail business, corporate business, investment activity and financial markets.
The Bank provides private clients with a full range of banking services at the level of the most modern standards. The volume of business with individuals is constantly increasing, which indicates the growth of confidence in the Bank of private clients and their high assessment of the quality of services.
Among the Bank's products for individuals are various types of lending, settlement and cash services, opening and servicing private deposits, issuing plastic cards, debit and overdraft cards, the widest range of cash transactions, the Unistream instant money transfer system.
In 2007 Uniastrum Bank's mortgage portfolio almost doubled from 4.8 to 8 billion rubles, and the number of loans issued in 2007 amounted to 4,112. As of July 1, 2008, Uniastrum Bank's mortgage loan portfolio amounted to 5.5 billion rubles, and by the end of 2008 it was about 4.9 billion rubles.
Significant growth in the volume of car loans issued began in 2005. The volume of the loan portfolio in this area increased by 3.8 times and amounted to about 2 billion rubles as of January 1, 2006. Over the next 2 years, the growth amounted to over 200% and as of 01.01.08 the portfolio amounted to 4.4 billion rubles. In 2008, the active development of this line of business continued. According to the Bank's financial statements, the volume of car loans issued by Uniastrum Bank for 6 months of 2008 amounted to more than 2 billion rubles. The average monthly volume of car loans issued in 2008 is about 350 million rubles. The volume of car loans issued in Moscow for 6 months of 2008 amounted to 296,038 thousand rubles. This is 40% more than in the second half of 2007. The volume of car loans issued by Uniastrum Bank in the Russian regions is also growing steadily. In the 1st half of 2008 it amounted to 1,792,076 thousand rubles, which is 35% more than in the 2nd half of 2007 and 72% more than a year ago (1st half of 2007 - 1,039,975 thousand rubles). rub.). According to the results of 9 months of 2008, Uniastrum Bank's auto loan portfolio amounted to 5.8 billion rubles.
In 2006, Uniastrum Bank became a principal member of the international payment system VISA, and also became an affiliated member of the international payment system MasterCard. As of October 1, 2008, Uniastrum Bank issued more than 500,000 cards, 138,000 of which were within payroll projects; more than 1,900 contracts have been concluded with organizations for the organization of salary projects; more than 660 ATMs installed; 1120 terminals were installed in trade and service enterprises. The volume of loans issued to individuals within the plastic products of Uniastrum Bank for 9 months of 2008 amounted to 712.5 million rubles, the volume of consumer loans for the same period - 676.7 million rubles, and the volume of balances on customer accounts - holders of plastic cards amounted to 1.8 billion rubles.
The amount of physical deposits. persons in 2007 increased by 1.73 times - from 14.4 billion rubles. to 24.8 billion rubles, and as of January 1, 2009, it amounted to more than 25 billion rubles. The volume of transfers through the Unistream system in the 1st half of 2008 through the Bank's branches amounted to 35 billion rubles, and Uniastrum Bank's commission income from cash settlements of individuals for the 1st half of 2008 amounted to 51.5 million rubles. The total volume of transfers through the Unistream system for 9 months of 2008 amounted to 57.2 billion rubles, and the commission income from these operations exceeded 323.5 million rubles.
One of the Bank's priorities is work with corporate clients. Today, this business is a complex system that includes more than a hundred banking products and many financial services. For corporate clients, the Bank offers settlement and cash services, lending and investment support for businesses, project financing with the attraction of funds from foreign financial institutions, operations with bank cards, payroll services for enterprises.
Since the beginning of 2006 alone, the corporate client base has doubled to 24,000 corporate clients (about 27,000 settlement accounts). The volume of the loan portfolio for 2 years increased almost 5 times and as of 01.07.08 amounted to more than 26.6 billion rubles.
Starting from 2007, the Bank began to actively provide its clients with project and trade financing services using credit resources of foreign financial institutions. The volume of completed credit transactions with foreign counterparties under the guarantees of foreign export credit insurance agencies (ECAs) exceeded USD 17.5 million. The volume of transactions implemented within the established limits for trade finance operations amounted to USD 16.7 million.
In this segment, the Bank provides a wide range of credit and deposit products at competitive prices to individual entrepreneurs and companies through the Moscow and regional branch network. The active development of this product is facilitated by the cooperation of Uniastrum Bank with the Fund for Assistance to Small Business Development in Moscow, St. Petersburg and other regions of Russia. In October 2007, Uniastrum Bank signed the Program of Interaction with the Government of Moscow, which provides for the allocation of funds in the amount of up to 1 billion rubles for lending to program participants.
According to the results of 2008, the Bank's balance sheet grew by 50% - up to 90.2 billion rubles, and the loan portfolio amounted to more than 34 billion rubles. In 2008, the Bank's equity increased by more than 40% and as of 01.01.2009 amounted to 7.6 billion rubles. In July 2008, "Uniastrum Bank" attracted a subordinated loan from the "Public Joint Stock Company" Bank of Cyprus Limited "total amount of 12.5 euros for a period of 5 years, which allowed to increase the Bank's equity capital up to 6 billion rubles. In December 2008, the authorized capital of Uniastrum Bank was increased by 1.2 billion rubles ($50 million).
October 2008 completed the acquisition of an 80% stake in Uniastrum Bank by the Bank of Cyprus Group of Companies, a large international holding structure founded in 1899 and occupying a leading position in the provision of banking and financial services in Cyprus and Greece (a share in the domestic banking market exceeds 30%. The deal amounted to USD 576 million. As a result of the transaction, the authorized capital of Uniastrum Bank was increased by USD 50 million. The acquisition represents the largest investment in the Russian banking sector by Greek and Cypriot financial institutions. The transaction was completed after obtaining permission from the Central Bank of Cyprus and the Central Bank of Russia, as well as the Russian Federal Antimonopoly Service.
On November 2008, within the framework of official negotiations between the President of Russia Dmitry Medvedev and the President of the Republic of Cyprus Dimitris Christofias, a Memorandum of Cooperation was signed between Uniastrum Bank and the Bank of Cyprus Group.
The memorandum provides for the implementation of a joint program for lending to small and medium-sized businesses in Russia with a total volume of 15 billion rubles and is designed for three years (2009-2011).
In 2006, Uniastrum Bank became the winner of the annual national business award "Company of the Year" in the nomination "For a successful business strategy".
In 2007 "Uniastrum Bank" became the winner of the "Banking" award for success in the development of the branch network and the winner of the National Banking Award in the nomination "The most dynamically developing bank".
In July 2008, Uniastrum Bank was recognized as one of the most recognizable brands in Russia and was awarded the Best Russian Brand diploma.
Targets:
Main tasks in the field of business development:
Table 2.1 - SWOT analysis of the activities of a credit institution
The condition for achieving strategic goals and solving problems will be the improvement of client policy, focus on the consumer of banking services, the creation of a flexible effective system of interaction with clients based on the needs of various client groups, the implementation of the principle of continuous improvement in the quality of services.
CB UNIASTRUM BANK (LLC) is a universal Bank, which is part of an international group of companies, the main activities are lending, in particular consumer lending, as well as attracting funds for deposits.
2.2 Assessment of financial stability of CB "Uniastrum Bank" (LLC)
financial stability bank credit
Rice. 2.1 - Dynamics of the balance sheet currency
The share of cash and accounts with the Bank of Russia in assets increased insignificantly - up to 12.5 percent, their volume reached 6.6 billion rubles. The increase in activity in the interbank market resulted in an increase in the share of funds in credit institutions from 2.3 to 12.6 percent. The volume of this indicator reached 6.6 billion rubles.
Due to the growth in the volume of transactions, the volume of interest income received on granted loans, deposits and other placed funds increased by 27.3 percent to 6 billion rubles. Income from lending to clients (non-credit organizations) amounted to 5.7 billion rubles, having increased by 26 percent over the year. Operations in the interbank market brought the Bank income in the amount of 155 million rubles, which is 64.5 percent more than in the previous year. Interest income from investments in securities increased by 57.4 percent and amounted to 124.3 million rubles. Fee and commission income increased by 86% and amounted to 2 billion rubles, other operating income - by 114%, to 239 million rubles.
Interest expenses on attracted loans, deposits and other attracted funds increased in 2008 by 9.4% to 3.5 billion rubles, commission expenses increased by 108% to 138 million rubles, operating expenses increased by 26% and amounted to 4.2 billion rubles. The Bank's net income for the reporting period increased by 21 percent - up to 4.7 billion rubles. Including net interest income increased by 67 percent and amounted to 2.4 billion rubles, net income from foreign exchange transactions - by 90.3 percent, to 726 million rubles.
According to the RosBusinessConsulting agency, according to the results of the year, Uniastrum Bank ranked 16th in terms of retail deposits among the 100 largest Russian banks. During the year, the volume of term deposits in the Bank increased from 24.8 billion to 25 billion rubles. In the financial market, Uniastrum Bank has long established itself as a bank that offers attractive interest rates and flexible deposit conditions for customers. Today the Bank has about 136 thousand depositors, almost half of them have been the Bank's clients for several years. The range of the Bank's deposits for the population is one of the widest in the Russian banking market, it is represented by 14 types of deposits, compiled taking into account the target orientation of the interests of customers and designed in such a way as to most fully cover all possible needs and wishes of customers. In order to increase its competitiveness, the Bank forms deposit rates at the level of the upper limit of the average market rates, constantly updates the terms of deposits and introduces new attractive products. In the structure of household deposits in Uniastrum Bank, deposits for up to 6 months make up 4%, from 6 months to 1 year - 47%, for 1 year or more - 49%. Of these, 86 percent - in rubles, 14 percent - in foreign currency.
In 2009, it is planned to develop a product line of deposits and increase the volume of fixed-term deposits of individuals up to 35 billion rubles.
The volume of transfers through the Unistream system in the Bank in 2008 amounted to 77.6 billion rubles, or more than 60 percent of the total volume of transfers through the system. The Bank's total commission income from Unistream transfers almost doubled compared to the previous year and amounted to 436.94 million rubles.
During the year, about 130 thousand bank cards were issued, and their total number increased by 28 percent and amounted to more than 560.7 thousand cards as of January 1, 2009. Including the growth of issued retail cards amounted to 7 percent, and their total number reached 330.6 thousand cards. Salary cards were issued by 74 percent more compared to the previous year, their total number reached 230,000 cards. The number of card accounts increased by 24 percent - up to 556.2 thousand. The number of credit cards over the past year increased by 31 percent and amounted to 43.6 thousand cards. In 2008, the total credit portfolio on bank cards increased by 2.8 times and amounted to more than 780 million rubles, the amount of overdraft limits set during the year increased by 3.3 times and exceeded 1.6 billion rubles.
For the successful development of the business, products were constantly updated throughout the year, taking into account the market situation. Thus, during the declining exchange rate of the US dollar against the Russian ruble at the beginning of the year, Uniastrum Bank was one of the first retail banks to stop issuing low-yielding dollar loans. At the same time, the rates in rubles varied depending on the type of lending program, the term and size of the down payment - from 9 to 14 percent per annum. In 2008, the share of car loans in the total debt of the Bank's individuals increased by 6 percent compared to the previous year and amounted to about 36 percent. During the reporting year, car loans were issued in the amount of more than 3.8 billion rubles. At the same time, the dynamics of car loan sales during the first half of the year gradually increased, and in July the volume of disbursements in the network as a whole exceeded 500 million rubles per month. The main share of issued car loans fell on the regions - 3.25 billion rubles (85.5 percent of the total amount of car loans issued).
Last year, more than 15,000 clients applied to Uniastrum Bank in order to obtain a car loan. In the Moscow region, 3,680 applications were considered during the year, in other regions - 11,802 applications. More than 7.5 thousand customers received loans for the purchase of cars (in 2007 - about 6.5 thousand customers). In order to improve the quality of the loan portfolio, the Bank actively cooperates with credit bureaus, the key partner of the Bank is the National Bureau of Credit Histories. In 2008, the Bank began working with a major agency, the Bureau of Credit Histories Expirian-Interfax. Cooperation with agencies allows for a qualitative assessment of the financial performance of clients and ensures the cleanliness of the loan portfolio. The Bank uses a centralized decision-making system and a single software package for working with loan applications throughout the network, which is a high competitive advantage both in terms of speed and quality of customer service. The regional car lending centers established in 2008 showed their high efficiency. Over the next two years, it is planned to open regional lending centers in new regions. The development of the automotive market in new regions will be carried out on the basis of existing, as well as newly opened structural divisions of the Bank. In each region, it is planned to take a market share of at least 10 percent, in some regions - at least 20 percent. In some regions, this indicator has already been reached, and the experience of the most successful regional centers will be extended to newly opened centers.
As of January 1, 2009, the corporate loan portfolio amounted to more than half of the Bank's loan portfolio - 57.6 percent. In 2008, the foreign currency component in the corporate loan portfolio increased by 7 percent and as of January 1, 2009 it was 18 percent. By maturity, 80 percent were loans for up to 1 year. Diversification of credit investments and building up the base of corporate borrowers ensures the presence of Uniastrum Bank in almost all sectors of the economy. Among the Bank's borrowers are enterprises operating in the light, food, paper, chemical, electronic, woodworking industries, metallurgy, engineering, construction, electricity and water supply, transport, communications, catering, development, and trade. As part of corporate lending, financing in the amount of more than 20 million rubles can be obtained by enterprises, organizations and individual entrepreneurs registered in the region of the Bank's presence, operating in their market sector for at least two years. As collateral for loans, various types of liquid real estate, vehicles, special equipment, equipment, goods in circulation, guarantees of the Moscow Government in the framework of cooperation with the Moscow Small Business Lending Assistance Fund, guarantees of various regional small business support funds can be used as collateral. Corporate lending is actively carried out in all regions where Uniastrum Bank operates. In the loan portfolio, the share of the Moscow region in 2008 accounted for 79.5 percent of the total lending. Novosibirsk (11.96 percent), Rostov-on-Don (11.81 percent), Ivanovo (10.96 percent), Kaliningrad (8.5 percent), St. Petersburg (6.85 percent) became the regional leaders in corporate lending , Perm (5.69 percent), Izhevsk (5.62 percent), Irkutsk (4.79 percent), Chelyabinsk (3.85 percent), Kazan (3.3 percent).
The main advantages of the Bank's deposit certificates are: free sale and acceptance for payment by any of the Bank's branches; certificates are issued for any period of 31 days; the minimum nominal amount is 500 thousand rubles; upon presentation of the certificate, a guaranteed minimum interest is paid at any time; the percentage is set at the time the certificate is issued.
In 2009-2010, it is planned to increase the deposit portfolio of corporate clients in relation to 2008 by expanding the Bank's deposit line, as well as through close work with insurance companies and representatives of professional communities.
In 2008, Uniastrum Bank remained an active participant in the interbank market. Despite the difficult market conditions, the competent and balanced policy pursued by the Bank in this area contributed to the further expansion of cooperation with Russian banks and countries of the near and far abroad. Operations to attract and place interbank loans were carried out in Russian rubles, US dollars and euros. The daily turnover on interbank loans averaged 2 billion rubles. In its interbank activities, the Bank used both net, uncovered credit lines established for counterparties and covered credit lines secured by high-quality collateral. In 2008, Uniastrum Bank attracted interbank loans by 60% and amounted to 143.4 billion rubles, the total amount of funds provided by the Bank to its counterparty banks decreased by 18% and amounted to 123.8 billion rubles. By the end of the reporting year, more than 350 agreements on cooperation in the currency and money markets were signed with Russian and CIS banks.
Constant work is underway to expand the network of counterparty banks in Moscow and other regions of Russia.
Uniastrum Bank occupies:
RBC (2009)
· The largest banks in Russia for 9 months of 2009 (TOP-500) - 50th place
· Banks in terms of liquid assets for 9 months of 2009 (TOP-500) - 32nd place
· Banks in terms of loan portfolio for 9 months of 2009 (TOP-500) - 42nd place
· Banks on loans to legal entities for 9 months of 2009 (TOP-500) - 47th place
· Banks on loans to individuals for 9 months of 2009 (TOP-500) - 30th place
· Banks by deposit portfolio for 9 months of 2009 (TOP-500) - 39th place
· Banks on deposits to legal entities for 9 months of 2009 (TOP-500) - 79th place
· Banks on deposits to individuals for 9 months of 2009 (TOP-500) - 17th place
· Leading banks in terms of the number of ATMs as of 01.07.2009 (TOP-110) - 19th place
· The most "plastic" banks in the 1st half of 2009 (by the number of bank cards in circulation as of 01.07.2009) (TOP-120) - 21st place
· The most consumer banks in the first half of 2009 (in terms of issued unsecured loans) (TOP-80) - 18th place
· The largest banks in terms of the volume of loans issued to small and medium-sized businesses in the first half of 2009 (TOP-70) - 7th place
· Banks in terms of car loans issued in the first half of 2009 - 7th place
· The most branch banks in Russia in the first half of 2009 (TOP-100) - 13th place
· The largest banks in Russia in the first half of 2009 (TOP-500) - 54th place
· The largest banks of Russia in the I quarter of 2009 (TOP-500) - 53rd place
· Banks by equity as of 01.03.2009 (TOP-100) - 57th place
· Banks by the number of their own ATMs in Russia as of 01.01.2009 (TOP-110) - 14th place
· The largest banks in terms of loans issued to small and medium-sized businesses in 2008 (TOP-100) - 43rd place
· The most branch banks in Russia in 2008 (TOP-100) - 14th place
· The most "plastic" banks in 2008 (according to the number of bank cards in circulation as of 01/01/2009) - 17th place
· The most consumer banks in 2008 (in terms of issued unsecured loans) - 50th place
· Best banks in terms of car loans issued in 2008 - 17th place
· The largest banks in Russia in 2008 (TOP-500) - 61st place
Expert (2009)
· TOP-50 largest banks in Russia in terms of loans issued to small and medium-sized businesses as of 01.01.2009 - 28th place
· TOP-100 largest banks in Russia in 2008 - 60th place
· TOP-30 banks - leaders in attracting deposits from individuals in 2008 - 18th place
RBC (2008)
· The largest banks in Russia for 9 months of 2008 (TOP-1000) - 52nd place
· Banks in terms of the number of their own ATMs in Russia as of July 1, 2008 - 14th place
· The best deposit banks in Russia in terms of deposits in rubles in the first half of 2008 - 31st place
· The largest banks in Russia in the first half of 2008 (TOP-1000) - 53rd place
· The most "plastic" banks in the first half of 2008 (in terms of the volume of plastic cards in circulation) - 23rd place
· The most client-oriented banks in Russia in the first half of 2008 (according to the index of customer experience from retail banking services) - 28th place
· The best banks in terms of car loans issued in the first half of 2008 - 25th place
· The best banks in terms of the volume of loans issued to small and medium-sized businesses in the first half of 2008 - 60th place
· The best deposit banks in Russia in terms of deposits in rubles in the 1st quarter of 2008 - 21st place
Finance (2008)
RBC (2007)
· The largest banks in Russia in 2007 (TOP-1000) - 47th place
· The largest mortgage banks in Russia in 2007 - 15th place
· The best deposit banks in Russia in terms of deposits in rubles in 2007 - 8th place
· The best banks in terms of loans issued to individuals in 2007 - 38th place
· Best banks in terms of volume of loans issued to small businesses in 2007 - 38th place
· Banks most common in Russian cities in 2007 - 8th place
· TOP-100 banks in terms of deposit portfolio growth dynamics in 2003-2007 - 5th place
· TOP-100 banks in terms of loan portfolio growth dynamics in 2003-2007 - 7th place
· TOP-100 banks in terms of net asset growth dynamics in 2003-2007 - 10th place
· The most dynamically developing banks in 2003-2007 - 14th place
Finance (2007)
The most dynamic public companies in 2005-2006 - 14th place
The financial stability of the bank is confirmed by the international rating agency Moody's.
2.3 Liquidity assessment of CB "Uniastrum Bank" (LLC)
The key factor that influenced the change in the Bank's profit in the reporting period was the growing crisis in the global economy, which, despite a set of measures taken by the governments of various countries (including the Russian Federation) to stabilize the situation in the financial markets, may continue to remain factor constraining the growth of the banking sector due to the reduction of refinancing opportunities in the financial markets. It is not possible to quantify the impact of these factors on the Bank's financial performance.
In this regard, the Bank is constantly improving technologies for analyzing borrowers, implementing a more stringent approach to assessing the quality of the loan portfolio, maintaining an optimal balance sheet structure, and complying with the liquidity standards established by the Bank of Russia.
The analysis of the values of the standards as of the given reporting dates and as a whole testifies to the fulfillment by the issuing credit institution of the requirements established by the Central Bank of the Russian Federation. The principal position of the Bank is to ensure maximum stability and reliability while maintaining dynamism in development and highlighting, as the main strategic task, strengthening control over the state of the Bank and increasing its manageability. In addition to operational risk analysis, the Bank carries out a study of the risk accompanying the process of potential development and management mechanisms that allow increasing the overall profitability and sustainability of the business, as well as minimizing potential losses.
Table 2.2 - Calculation of mandatory standards for the activity of credit
organization - issuer at the end of the last completed quarter
The current activities of the Bank are carried out in accordance with the developed business plans adopted both for the Bank's institutions and for all operations carried out as part of the development strategy.
Liquidity risk management in the Bank is carried out on the basis of the Procedure for conducting operations for the placement and attraction of funds in the market of interbank loans in rubles and foreign currency.
Over the past 5 years, the Bank has not experienced and does not experience problems with liquidity and solvency.
The Bank's income from core activities increased in 2004 from 787 million rubles. up to 2,650 million rubles (excluding income generated by recovering amounts from reserves accounts and penalties received), i.e. 3.4 times.
The Bank's income from core activities increased in 2005 from 2,650 million rubles. up to 5,478 million rubles (excluding income generated by recovering amounts from reserves accounts and penalties received), i.e. 2.1 times.
The Bank's income from core activities increased in 2006 from RUR 5,478 mln. up to RUB 8,336 million (excluding income generated by recovering amounts from reserves accounts and penalties received), i.e. 1.5 times.
Table 2.3 - Structure of accounts receivable credit
organization - issuer
The Bank's operating income increased in 2007 from RUR 8,336 mln. up to 13,975 million rubles (excluding income generated by recovering amounts from reserves accounts and penalties received), i.e. 1.7 times.
The Bank's operating income increased in 2008 from RUR 13,975 mln. Up to 21,358.3 million rubles (excluding income generated by recovering amounts from reserves accounts and penalties received), i.e. 1.5 times.
As of October 1, 2009, the Bank's income amounted to 34,909.2 million rubles. (Compared to the second quarter of 2008, the increase was 2.5 times).
Chapter 3. Directions for increasing the financial stability and liquidity of the bank. CB "Uniastrum Bank" (LLC)
.1 Ways to improve the financial stability of CB "Uniastrum Bank" (LLC)
The credit risk management system organized in the Bank is based on the recommendations of the Bank of Russia:
identification, analysis and monitoring of credit risks is carried out by an independent structural unit;
organizational procedures for managing credit risks, the applied risk assessment methods, the structure of limits for taking risks and their actually established values are determined by internal regulations or decisions of the relevant collegiate bodies of the Bank in accordance with their powers;
on a regular basis, management reports on the status of risks assumed by the Bank are submitted for consideration to the management of the Bank and relevant collegial bodies;
on a regular basis, internal control is carried out to ensure that the Bank's subdivisions and branches comply with the established limits on credit operations.
Currently, the Bank has three committees authorized to make decisions in accordance with their competence, enshrined in the regulations on the committees:
Credit Committee - to consider issues of financing corporate borrowers and providing large loans to individuals;
Small Credit Committee (Credit Committee for the placement of resources "Retail lending") - for collegial decision-making on lending to individuals;
Asset and Liability Management Committee - management of assets and liabilities in order to minimize liquidity risk, market risk.
The activities of credit committees are aimed at minimizing credit risks associated with the provision of loans to borrowers of the Bank.
In order to minimize the credit risk in the branches, documents on borrowers undergo an independent review procedure at the Head Office. The final decision on the possibility of lending to borrowers from branches is made by credit committees at the Head Office.
The centralized credit risk management procedure allows it to be minimized. Monitoring of credit risks is carried out in the current mode. The ratio of actual debt to established limits is monitored daily.
Professional judgments on the level of credit risk are made monthly for counterparty banks, quarterly for corporate clients and other counterparties.
The Bank diversifies its loan portfolio to minimize the risk of geographic and sectoral concentration by managing the redistribution of resources between the Head Office and regional branches.
The credit risks assumed by the Bank are covered by the formation and regulation of reserves for possible losses. The target reserve formation system, including provisions for possible losses on loans, loan and equivalent debt, is based on the following principles:
compliance with the requirements of Bank of Russia regulations;
reasonable conservatism;
introduction of a system of operational follow-up control over the correctness of the formation of the Bank's reserves at the Head Office and branches in order to eliminate the risks of under-creation of reserves and distortion of reporting.
The main activity of the Bank is related to operations in Russia. The risk of investing in the country is at an acceptable level, which is confirmed by the maintenance of long-term sovereign credit ratings at the level of Ba2 in the reporting period.
The volume of operations carried out by the Bank outside the Russian Federation is minimal and cannot have any negative impact on its activities. The main operations in foreign markets are related to the servicing of export-import contracts, settlements with clients, the presence of correspondent accounts in Western banks - residents of countries with low , moderate and medium level of risk.
As a taxpayer, the Bank is registered in Moscow, where the main business of the Bank's Head Office is located. The city of Moscow is one of the most financially and economically developed regions of Russia. The stability of this region is confirmed by the high ratings of international and Russian rating agencies.
The branch network of the Bank is characterized by a wide coverage of various cities of the Russian Federation. The Bank's network is located in large regional centers with a developed infrastructure, provided with modern technology and communications. The geographical features of the vast majority of settlements where CB "UNIASTRUM BANK" (LLC) is present do not imply the occurrence of natural disasters, the termination of transport links or the lack of communication with customers and the Head Office of the Bank.
When managing market risks, the Bank is guided by the requirements established by the regulations of the Bank of Russia and internal banking methods. The financial result of the Bank depends on changes in such market factors as securities quotes, exchange rates and market interest rates.
The market risk management system developed by the Bank makes it possible to timely identify and measure the risks taken and make decisions to optimize the structure of the Bank's portfolios.
Risks are identified in the process of limiting the active operations of the Bank or in the process of setting the parameters and conditions for new banking products and operations.
Risks are measured in accordance with the developed methods for analyzing both individual components of market risk and its aggregated value.
Risks are measured based on the Value-at-Risk methodology, stress testing, risk sensitivity analysis of the Bank's instruments/portfolios. The Bank separates the functions of conducting transactions with financial assets, analyzing market risks, limiting active transactions and making strategic decisions in the field of risk management, which ensures adequate control and timely adoption of the necessary measures to optimize risks:
Based on the proposals of the Treasury Committee, the Management Board of the Bank develops a strategy for managing risks and allocating capital across business lines, approves the asset and liability management policy;
The Asset and Liability Management Committee monitors compliance with the Bank's approved asset and liability management policy in accordance with the chosen risk management strategy;
The Resource Management Department exercises operational control over the fluid level of risk, the state of the Bank's portfolios and positions;
The Market Risk Department performs methodological, analytical and reporting functions in the field of market risk management;
The back office performs a control function, monitors the fulfillment of the Bank's limit discipline.
The main way to minimize market risks is to maintain the Bank's open positions (open currency positions, open interest positions, open positions on investments in securities) within the established limits, standards and restrictions, which are calculated based on the Bank's ability to accept financial losses in amounts that do not significant impact on the liquidity or financial stability of the credit institution.
The Bank conducts a quantitative assessment of the aggregated value of market risks. During the reporting quarter, this value was within acceptable limits in terms of the probability of economic default.
The financial results of the Bank are affected by fluctuations in exchange rates. In order to assess the Bank's currency risk, the Bank's open currency position (OCP) is calculated. In this case, there are two options for calculating: according to the requirements of the Bank of Russia and according to the internal methodology.
According to the internal methodology, VaR-assessment of the currency risk is carried out, taking into account the volatility and correlation of currencies, as well as stress testing based on those approved by the collegial bodies shock changes in foreign exchange rates. In order to limit the amount of currency risk, the Bank sets limits on open currency positions both for each currency and for the total position in all foreign currencies.
As a result of the well-established methodology and regular monitoring, the Bank's currency risk during the entire reporting quarter remained at the lowest level among market risks and had a minimal impact on the Bank's financial condition. The main sources of interest rate risk are: mismatch between the maturities of assets, liabilities and off-balance sheet claims and liabilities on instruments with a fixed interest rate; Mismatch between the maturities of assets, liabilities and off-balance sheet claims and liabilities on instruments with a variable interest rate (repricing risk); changes in the configuration of the yield curve for long and short positions in financial instruments of one issuer, creating the risk of losses as a result of the excess of potential expenses over income when closing these positions (yield curve risk); for financial instruments with a fixed interest rate, provided that their maturities coincide - a discrepancy in the degree of change in interest rates on resources attracted and placed by a credit institution (basic risk). Due to the low volume of option transactions in traditional interest-bearing instruments that are sensitive to changes in interest rates, the option risk assumed by the Bank is insignificant.
The risk management system formed in the Bank provides for the division of the Bank's assets and liabilities into sensitive and insensitive parts in terms of changes in the interest rate and a separate GAP analysis of the selected parts at different time horizons. The Bank's regular analysis of this analysis makes it possible to timely identify emerging distortions in the structure of the Bank's balance sheet, potentially bearing the risk of significant losses, and to respond to them in a timely manner, and the imposition of planned and forecast indicators makes it possible to predict these indicators for the future.
The instruments for adjusting the level of interest rate risk are the adjustment of limits on transactions and interest rates on attracted and placed funds.
The ongoing operational activities allowed the Bank to maintain the level of interest rate risk at an average and low acceptable level during the reporting period. Thus, we can say that the interest rate risk in the reporting period did not have a significant impact on the quality and timeliness of the Bank's fulfillment of its obligations, including those related to issued securities.
3.2 Ways to improve the liquidity of CB "Uniastrum Bank" (LLC)
The priority business areas for the Bank and the basis for sustainable development are servicing individuals and small and medium-sized businesses. Serving retail customers and small businesses in mass markets will be carried out on a standard technological basis. The Bank will carry out technological modernization of the main mass products aimed at their standardization and simplification, alternative distribution channels, packaging technology and cross-selling tools will be used. The organization of work with corporate clients with a medium size business will be based on a flexible combination of approaches to standardizing the product range in mass markets and experience in individual servicing of large corporate clients and wealthy individuals.
Particular attention will be paid to improving the quality of customer service, developing and implementing new banking products and services, combined with convenient access to them, while maintaining competitive prices.
On the basis of the existing regional and technological structure, the implementation of the comprehensive public services program will continue.
Considering the specifics of working with small businesses, the Bank's specialists will provide the necessary advice in the field of financial, economic, organizational, legal and communication support for their activities. The strategic objective of the Bank is to become the leader in the industry in terms of the quality of services provided.
The main tasks in the field of business development.
Formation in the Bank of a modern management system adequate to the scale and complexity of the business and corresponding to international standards, based on the principle of intensive development, a client-oriented model of the Bank's work.
Carrying out a flexible interest and tariff policy.
Regular monitoring of the demand for banking products.
Use of effective procedures for internal control and risk management of banking activities.
Optimization of the costs of intra-banking activities.
Minimization of the cost of attracted resources.
Implementation of functional cost analysis for the evaluation of new banking products and services.
Maintaining management accounting according to the principles of international standards.
Formation of a team of highly professional employees, improvement of the employee motivation system, knowledge management system.
Growth in labor productivity.
Optimization of territorial infrastructure and costs by reengineering business processes and reducing the cost of operations, increasing the efficiency of the distribution network, reaching a qualitatively new level of automation and technological support. In addition, the Bank will focus on expanding the network of self-service devices and expanding their functionality in order to provide customers with 24x7 service.
In order to increase the level of customer loyalty and satisfaction, the Bank will further improve the integrated marketing system aimed at segmenting, monitoring and analyzing customer needs, changes in the competitive environment, identifying new markets, managing product life cycles, and improving customer service quality standards.
For further business development and modernization of technological and management processes, the Bank will continue to form a single information space by introducing an operational and information-analytical system (CRM), a comprehensive automated risk management system, and improving the work of a single Call-center.
As a result of the introduction of information technology innovations, the Bank will ensure the growth of labor productivity, meet the targets for assets and net operating income per employee, the ratio of business personnel and employees of service units.
Financial efficiency and sustainability, risk management. A set of measures to solve the above tasks will ensure the formation of the required level of return on capital, will minimize banking costs and fulfill the limitation on the ratio of operating expenses to net operating income (Cost / Income), increase the share of fee and commission income in net operating income and increase the stability and predictability of the financial result . In order to reduce the risks taken. The Bank strives to diversify its client base, form a balanced structure of assets and liabilities in terms of compliance with liquidity requirements and manage interest spreads, strengthen control over the quality of credit risk management, balance the structure of the loan portfolio and apply a flexible product, interest and tariff policy. The Bank will continue the policy of forming long-term liabilities by attracting funds from the population, pension funds and insurance companies.
An increase in the number and volume of transactions will lead to the introduction of additional measures to improve the efficiency of control over the level of operational risk.
Increasing labor productivity, optimizing staffing and territorial infrastructure will reduce administrative and economic costs. The Bank will continue to set the level of material remuneration for employees, taking into account financial performance and strive to maintain wages at a competitive level.
The Bank's activities will take into account and implement the requirements of international standards of corporate governance and risk management, accounting and reporting, and comply with the requirements of the company's transparency.
Consistently high efficiency of banking activities, optimization of the cost structure, growth in financial results and customer loyalty will have a positive impact on investment attractiveness and strengthening the Bank's reputation as a stable, reliable and profitable credit institution.
As a basic principle that determines approaches to the issue of liquidity management, the Bank considers the need to equalize assets and liabilities by maturity (in order to reduce liquidity risk).
Also, to reduce operational risk, the following control methods and procedures are used:
separation of functions between employees, standards for accounting operations are in place, control is exercised over unauthorized access to systems, over the operation of software.
These risks are assessed as low, because information technology and the structure of control over these risks are at an acceptable level.
The current Russian legislation is quite complex and ambiguous in interpretation, the current judicial practice is contradictory, which entails the possibility of adopting judicial acts that impede the execution of court decisions that have entered into force.
Tax legislation is notable for the ambiguity of possible interpretations of some of its provisions. In addition, there is insufficient experience in applying in practice some of the norms of the tax legislation of the Russian Federation, which may contribute to an increase in tax risks, which may lead to an increase in the costs of the issuing credit institution and holders of securities. There is also a risk of changes in tax legislation, worsening the position of certain groups of taxpayers.
In CB UNIASTRUM BANK (LLC), cooperation with counterparties and signing of contracts is carried out only after passing the legal examination procedure. All legal types of risks are minimized through a thorough analysis of legal risks, forecasting and monitoring of all changes in legislation. The Bank has built an effective system of internal accounting control and adequate response to legislative and tax changes.
The Bank has an effective system for managing banking risks, the implementation of which may lead to the possibility of damage to business reputation. The Regulation on the Activities of the PR and Media Relations Department defines the basic principles of managing the risk of loss of business reputation, taking into account domestic and international banking practices, including, among other things: goals and objectives of managing the risk of loss of business reputation, taking into account the specifics of the Bank's activities, its specialization; the procedure for identifying, assessing and determining an acceptable level of risk of loss of business reputation, monitoring the risk of loss of business reputation; taking measures to maintain the risk of loss of business reputation at an acceptable level, including control and risk minimization; the procedure for submitting information to the Board of Directors, executive bodies, divisions and employees of the Bank on the issues of managing the risk of loss of business reputation; distribution of powers and responsibilities between the Board of Directors, executive bodies, divisions and employees in relation to the implementation of the basic principles of managing the risk of loss of business reputation; monitoring the effectiveness of managing the risk of loss of business reputation.
Conclusion
In a broad sense, the stability of a commercial bank is determined by the stability of its economic environment and, as a market category, reflects the state of a credit institution in the existing market environment. The sustainability issues of a commercial bank should be considered from the point of view of a bank that has all the signs of an open system - an orderly, self-stabilizing and self-organizing integrity.
The concept of reliability and stability of the bank includes the following qualitative characteristics: the sufficiency (or adequacy) of the bank's capital, the ability to counteract factors that are unfavorable to it, to compensate for damage from losses. These characteristics refer to the absolute amount of capital, which must be at least EUR 5 million, as well as to the minimum capital adequacy requirements set by the Bank of Russia.
Significant financial capabilities of Uniastrum Bank are also confirmed by international credit ratings. November 24, 2008 International rating agency Moody s Investors Service upgraded Uniastrum Bank's long-term credit rating by three notches to Ba2 (outlook stable), and Moody's national scale long-term credit rating s Interfax Rating Agency upgraded from Baa1 to Aa2.
CB "UNIASTRUM BANK" (LLC) is a universal bank with a developed branch network, focused on international standards for providing a full range of banking services to its customers and developing its basic areas of activity - corporate, retail, investment banking businesses in order to promote the development of the Russian economy. In accordance with the chosen strategy, the Bank plans to ensure the growth of investment attractiveness, maintain and strengthen its position in the Russian market of financial and banking services by comprehensively meeting customer needs and improving the quality control and management system.
Growth of sales volume and income of the Bank due to improvement of the system of interaction with clients. Optimization of the intra-bank communication system, allowing to achieve the ratio of 1 client - several services.
Development of banking technologies and alternative sales channels, increase in labor productivity, quality of services provided.
Increasing the availability of banking services, optimizing the Bank's regional presence.
Maintaining control over costs by minimizing the cost of attracted resources, reducing the cost of operations, optimizing the headcount.
Targets:
Return on equity (ROAE) - not less than 20%;
The share of commission income in net operating income - not less than 30%;
Assets per employee - 2.5 times increase;
Net operating income per employee - 2 times increase;
The ratio of business personnel to employees of supporting departments is at least 1:1;
The ratio of operating costs to net operating income (Cost / Income Ratio) - no more than 50%;
The share in the total assets of the banking system is 3-5%.
The Bank's assets increased by 3.5 percent and amounted to 52.6 billion rubles. There have been changes in the structure of assets. The volume of net loan debt decreased by 7.9 percent, its share in assets decreased from 71.3 to 63.5 percent. At the same time, in the structure of loan or equivalent debt, which amounted to 33.4 billion rubles as of January 1, 2009, the share of loans to legal entities reached more than 52%.
In order to minimize market risks in the conditions of instability of financial markets, investments in securities decreased by 52.3 percent. As of January 1, 2009, they amounted to 737 million rubles, their share in assets decreased from 3 to 1.4 percent compared to the beginning of the previous year. The amount of fixed assets decreased insignificantly - by 2.2 percent, to 2.9 billion rubles, their share in assets practically did not change.
One of the key changes in the resource base last year was a significant increase in equity capital. In the structure of liabilities, the share of own funds increased from 11 to 14 percent, their volume increased by 35.1 percent and amounted to 7.4 billion rubles. The increase in the Bank's capital occurred primarily due to the increase in the authorized capital by 45 percent. As of January 1, 2009, the authorized capital of the Bank amounted to 3.8 billion rubles. The volume of issued debt obligations decreased by 3.4 times - to 1.3 billion rubles (the share in liabilities decreased from 8.7 to 2.5 percent).
The impact of external conditions affected the volume of client funds: the volume of client funds decreased by 3.5 percent, to 36.8 billion rubles, and their share in liabilities, from 75.1 percent to 70 percent. Credits from the Bank of Russia amounted to 4.5 billion rubles as of January 1, 2009, or 8.6 percent of the total assets. The volume of funds of credit organizations increased slightly - by 1.4 percent, to 1.9 billion rubles (at the same time, the share of the indicator in liabilities decreased from 3.7 to 3.6 percent). Thus, in the structure of liabilities, there was a reduction in the Bank's liabilities from 89 to 86.2 percent and an increase in own funds from 11 to 14 percent, which indicates greater stability and reliability of Uniastrum Bank.
According to the RosBusinessConsulting agency, Uniastrum Bank ranked 16th in terms of retail deposits among the 100 largest Russian banks for the year. During the year, the volume of term deposits in the Bank increased from 24.8 billion to 25 billion rubles. In the financial market, Uniastrum Bank has long established itself as a bank that offers attractive interest rates and flexible deposit conditions for customers. Today the Bank has about 136 thousand depositors, almost half of them have been the Bank's clients for several years. The range of the Bank's deposits for the population is one of the widest in the Russian banking market, it is represented by 14 types of deposits, compiled taking into account the target orientation of the interests of customers and designed in such a way as to most fully cover all possible needs and wishes of customers. In order to increase its competitiveness, the Bank forms deposit rates at the level of the upper limit of the average market rates, constantly updates the terms of deposits and introduces new attractive products. In the structure of household deposits in Uniastrum Bank, deposits for up to 6 months make up 4%, from 6 months to 1 year - 47%, for 1 year or more - 49%. Of these, 86 percent - in rubles, 14 percent - in foreign currency.
In the reporting year, Uniastrum Bank operated in the sector of short- and medium-term securities both with promissory notes of third-party issuers and in the Russian corporate and banking bond market. In the exchange securities market, transactions with securities were carried out on all major trading floors. The average monthly balance of investments in bonds amounted to almost 1.2 billion rubles at par. Interest income from this type of investment amounted to almost 125 million rubles. Own promissory notes were issued in the reporting year in the amount of 7.7 billion rubles, own promissory notes were redeemed in the amount of 8.4 billion rubles. The turnover amounted to 16 billion rubles, the average monthly balance was about 1.9 billion rubles. In the promissory note market, the Bank remained traditionally an active operator. The turnover on the accounts of transactions with third-party promissory notes amounted to about 9 billion rubles, the average monthly balance was 862 million rubles. Income from this type of operations was received in the amount of 83 million rubles. On the bond market in February 2008, Uniastrum Bank successfully passed the offer for the first, and in October - for the second issue of the Bank's bonds. All obligations were fulfilled in full and on time. The total amount of coupon payments for the year amounted to more than 220 million rubles.
In order to manage credit risk and neutralize its possible negative impact, CB UNIASTRUM BANK (LLC) has a system for identifying, assessing and managing risks, including:
setting limits on credit transactions (limits on lending to borrowers/counterparties, groups of related borrowers, limits on transactions with debt securities);
use of standard (intrabank) methods and expert analysis to assess the financial condition of counterparties (corporate borrowers, financial institutions, executive authorities and individuals) in order to assign an internal credit rating;
accepting highly liquid collateral and guarantees from solvent companies and individuals as collateral;
procedures for monitoring the level of risk of individual projects and portfolios of the Bank as a whole, allowing to take preventive measures when negative trends are identified;
monitoring on an ongoing basis on the level of credit risks assumed by the Bank, preparation of internal bank reports for consideration by the members of the Credit Committee and the Management Board of the Bank;
determination of the ratio of risks assumed by the Bank and the remuneration received when conducting active operations.
The country risk management system in CB "UNIASTRUM BANK" (LLC) is based on the regular collection and analysis of indicators characterizing the macroeconomic situation in the countries where the Bank's counterparties are located. The country risk management system makes it possible to make decisions on the possibility of conducting credit risk transactions with foreign counterparties, taking into account the current concentration of country risks and to exercise operational control over the compliance of the accepted aggregate country risks with the established limits. The current level of country risks and their concentration is acceptable for the Bank, since all countries with an increased concentration of risk belong to the groups of countries with a low and medium risk level, which minimizes the risk of the Bank incurring losses as a result of non-performance by foreign counterparties (legal entities, individuals) obligations due to economic, political, social changes.
Liquidity risk management in the Bank is carried out on the basis of regulatory documents of the Bank of Russia, as well as on the basis of internal methodological documents. Liquidity risk management is an integral part of the Bank's asset and liability management process.
Liquidity management consists in the formation of predictive values of liquidity indicators based on data on actual maturities of the active/passive part of the Bank's balance sheet indicators. When a shortage/excess of liquidity is revealed, the Bank takes measures to eliminate them by changing the financial conditions for attracted/placed resources, searching for new ways of borrowing and placement markets, and adjusting the plans of business units. The formation of the liquidity picture of the Bank is carried out taking into account possible changes in the liquidity of the markets in which the Bank is present due to the specifics of its work, as well as taking into account the scenario approach to the forecast indicators of the Bank's liquidity. Thus, the Bank forms several scenarios for the development of events, one of which is negative. On the basis of the conducted research, requirements are formed for maintaining the Bank's optimal liquidity reserve: a stock of highly liquid funds (cash, correspondent account with the settlement center, correspondent accounts (nostro), "short" interbank loans, the availability of a sufficient amount of liquid securities), as well as in the coordination of assets and liabilities by terms of placement and attraction. Liability management, in this aspect, consists in the formation of a stable, balanced (diversified) resource base of the Bank.
To identify and assess the risk of loss of liquidity of the Bank, the following methods of control and measurement are used: analysis of the current state of liquid assets and forecast of changes in their quality in the future, forecasting and control of mandatory liquidity ratios (N2, N3, N4), forecast of changes in the volume and structure of the resource base, situational analysis and liquidity forecast.
The Bank complies with all mandatory liquidity risk ratios established by the Bank of Russia and does not experience problems with liquidity and solvency. In accordance with the requirements of the Central Bank of the Russian Federation (110-I), the Bank daily calculates the norms of instant and current liquidity. Their high value (Н2=81.62%, Н3=69.48%, Н4=102.25% as of 01.10.09) testifies to the Bank's high liquidity reserve and comfortable ratio of assets and liabilities by maturity.
Operational risk is associated with the presence of errors that occur, as a rule, due to technical reasons, as well as as a result of operational failures, etc. These factors usually do not entail the Bank's failure to fulfill its obligations, but may cause some delay in the fulfillment of specific obligations of the Bank and / or affect on the occurrence of unforeseen expenses, losses, reputational costs.
Measures aimed at reducing operational risks:
regulation of business processes;
examination of new products and services;
preliminary testing of new technologies;
introduction of a new product model on a limited range of operations;
use of licensed software and equipment;
staff development;
system of powers of officials.
List of used literature
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Annex A
Table A1. - BALANCE SHEET (published form) as of 01.10.2009, thousand rubles.
Item No. Article name Data as of the reporting date Data as per acc. отчетную дату прошлого года1234I АКТИВЫ 1Денежные средства490259923310472Средства кредитных организаций в Центральном банке Российской Федерации 273544615873682.1Обязательные резервы9967065810803Средства в кредитных организациях48700715472444Чистые вложения в торговые ценные бумаги, оцениваемые по справедливой стоимости через прибыль или убыток010730525Чистая ссудная задолженность41153419405974756Чистые вложения в ценные бумаги и другие финансовые активы, имеющиеся в наличии для продажи377842001726 .1Инвестиции в дочерние и зависимые организации861727Чистые вложения в ценные бумаги, удерживаемые до погашения54321008Основные средства, нематериальные активы и материальные запасы281901329269719Прочие активы 2872485256024810Всего активов5993402751823577II ПАССИВЫ 11Кредиты, депозиты и прочие средства Центрального банка Российской Федерации026600012Средства кредитных организаций7625310250795113Средства клиентов (некредитных организаций)445475153840317613.1Вклады физических лиц340688482835603 614Финансовые обязательства, оцениваемые по справедливой стоимости через прибыль или убыток0015Выпущенные долговые обязательства264544342748416Прочие обязательства562442115408717Резервы на возможные потери по условным обязательствам кредитного характера, прочим возможным потерям и по операциям с резидентами оффшорных зон738625828118Всего обязательств 5307367345816979III ИСТОЧНИКИ СОБСТВЕННЫХ СРЕДСТВ 19Средства акционеров (участников)3799865261875020Собственные акции (доли), выкупленные у акционеров (участников)0021Эмиссионный доход62909046000022Переоценка по справедливой стоимости ценных бумаг, имеющихся в наличии для продажи 15000013000023Переоценка основных средств-21498024Нераспределенная прибыль прошлых лет (непокрытые убытки прошлых лет)2495289244020525Прибыль (убыток) за отчетный период21069217462026Всего источников собственных средств-40308418302327Всего пассивов68603546006598IV ВНЕБАЛАНСОВЫЕ ОБЯЗАТЕЛЬСТВА 28Безотзывные обязательства кредитной organizations6655653659884929Issued credit institution guarantees and guarantees358646727132
Chairman of the Board: Neumyvakin Pavel Ivanovich
Chief Accountant: Bormashova Lidia Mikhailovna
Applications B
Table B1. - PROFIT AND LOSS STATEMENT (published form) for 9 months of 2009, thousand rubles.
No. p / p Indicator name Data as of the reporting date Data as per acc. of the reporting date of the previous year12341Interest income, total, including: 473271544589811.1From placement of funds in credit institutions2908581147301.2From loans granted to customers (non-credit institutions)438854642501181.3Provision of financial lease (leasing) services001.4From investments in securities53311941332 числе346713926539282.1По привлеченным средствам кредитных организаций450103844782.2По привлеченным средствам клиентов (некредитных организаций)294060222944922.3По выпущенным долговым обязательствам 764342749583Чистые процентные доходы (отрицательная процентная маржа)126557618050534Изменение резерва на возможные потери по ссудам, ссудной и приравненной к ней задолженности, а также средствам, размещенным на correspondent accounts, total, including: -818083383354.1Change in provision for possible losses on accrued interest income-69227-208625Net interest income (negative interest margin) after provision for possible losses4 4749318433886Net income from securities at fair value through profit or loss-2-1202097Net income from securities available-for-sale18208Net income from securities held to maturity-54409Net income from foreign exchange54087436640710Net foreign currency revaluation income-97079-4467911 Income from participation in the capital of other legal entities18242312 Fee and commission income2119653137212413 Fee and commission expenses1181309109314 Change in the allowance for possible losses on securities available-for-sale0015 Change in the allowance for possible losses on securities held-to-maturity on other changes-60 58909-3882517Other operating income10372118582418Net income (expenses)2933403347336019Operating expenses3163316301758020Profit before tax-22991345578021Accrued (paid) taxes17317127275722Profit after profit taxation - 40308418302323 Payments from profit after tax, total, including: 0023.1 Distribution among shareholders (participants) in the form of dividends 0023.2 Deductions for the formation and replenishment of the reserve fund 0024 Profit (loss) for the reporting period - 403084183023
Chairman of the Board: Neumyvakin Pavel Ivanovich
Chief Accountant: Bormashova Lidia Mikhailovna
Appendix B
Table B1. - Report on the level of capital adequacy, the amount of provisions for doubtful loans and
Item No. Indicator name Data at the beginning of the reporting period Increase (+) / decrease (-) for the reporting period Data as of the reporting period of the reporting date of the previous year123451 Own funds (capital), total, including: 7412077.0-4379826974095.01.1 Authorized capital of a credit institution, including: 3799865.003799865.01.1.1 Par value of registered ordinary shares (stakes) 000.01.1.3 Unregistered amount of authorized capital of non-equity credit institutions 0.000.01.2 Own shares (stakes) repurchased from shareholders (members) 0.000.01.3 Share premium629090.00629090.01.4 Reserve fund of a credit institution130000.020000150000.01.5 Retained earnings:305-396000.01.5 Undistributed profit -321952.01.5.1прошлых лет174620.036072210692.01.5.2отчетного года-97967.0-434677-532644.01.6Нематериальные активы208.0-79129.01.7Субординированный кредит (займ, депозит, облигационный займ) по остаточной стоимости683086.0-59456623630.01.8Источники (часть источников) капитала , for the formation of which investors used 102582.00102582.02 Normative value of own funds (capital) adequacy,%10.0-10.03Actual value of own funds (capital) adequacy,%16.8 13.64Actually formed reserves for possible losses (thous. rubles), total, including: 1848630.07879162636546.04.1 for loans, loan and equivalent debts 1472801.07305832203384.04.2 for other assets with a risk of incurring .04141773861.04.4for transactions with residents of offshore zones0.000.0
1.Formation (additional accrual) of a provision for possible losses on loans in the reporting period (thousand rubles), total 2349010 , including due to:
1) issuance of new loans 155815 ;
) changes in loan quality 1235871 ;
44346 ;
) other reasons 912978 ;
2.Recovery (reduction) of the provision for possible losses on loans in the reporting period (thousand rubles), total 1657759 , including due to:
1) writing off bad loans 88679 ;
) repayment of loans 773458 ;
) changes in loan quality 311515 ;
) changes in the official foreign exchange rate against the ruble, established by the Bank of Russia 47598 ;
) other reasons 436509 ;
Chairman of the Board: Neumyvakin Pavel Ivanovich
Chief Accountant: Bormashova Lidia Mikhailovna
Annex D
Table G1. - CB UNIASTRUM BANK (LLC), thousand rubles.
Item No. Article name Data as of the reporting date Data as per acc. отчетную дату прошлого года1234I АКТИВЫ 1Денежные средства408560325996732Средства кредитных организаций в Центральном банке Российской Федерации 151376429877352.1Обязательные резервы38272114925193Средства в кредитных организациях26723705900774Чистые вложения в торговые ценные бумаги, оцениваемые по справедливой стоимости через прибыль или убыток012963025Чистая ссудная задолженность39519023409581776Чистые вложения в ценные бумаги и другие финансовые активы, имеющиеся в наличии для продажи318492001726 .1Инвестиции в дочерние и зависимые организации1721727Чистые вложения в ценные бумаги, удерживаемые до погашения55187908Основные средства, нематериальные активы и материальные запасы278138229762459Прочие активы 2803131202741410Всего активов5395900153635795II ПАССИВЫ 11Кредиты, депозиты и прочие средства Центрального банка Российской Федерации0012Средства кредитных организаций4783429115513613Средства клиентов (некредитных организаций)409117154110797613.1Вклады физических лиц283560362492218614 Финансовые обязательства, оцениваемые по справедливой стоимости через прибыль или убыток0015Выпущенные долговые обязательства562502453291716Прочие обязательства102550392961517Резервы на возможные потери по условным обязательствам кредитного характера, прочим возможным потерям и по операциям с резидентами оффшорных зон508485241418Всего обязательств 4733399747778058III ИСТОЧНИКИ СОБСТВЕННЫХ СРЕДСТВ 19Средства акционеров (участников)3799865261875020Собственные акции (доли), выкупленные у акционеров (участников)0021Эмиссионный доход62909046000022Резервный фонд 15000013000023Переоценка по справедливой стоимости ценных бумаг, имеющихся в наличии для продажи-27518024Переоценка основных средств2495289244020525Нераспределенная прибыль прошлых лет (непокрытые убытки прошлых лет)21069217462026Неиспользованная прибыль (убыток) за отчетный период-6324143416227Всего источников собственных средств66250045857737IV ВНЕБАЛАНСОВЫЕ ОБЯЗАТЕЛЬСТВА 28Безотзывные обязательства credit institution81421486757 76829Guarantees and guarantees issued by a credit institution3496361418409
Chairman of the Board: Neumyvakin Pavel Ivanovich
Chief Accountant: Bormashova Lidia Mikhailovna
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Problems and prospects for the development of the enterprise
The problem of ensuring financial stability is one of the most relevant for most enterprises. In their activities, they face difficulties in determining the mechanism that would ensure financial balance, and achieving the set goals at the same time for domestic enterprises, ensuring financial stability is quite problematic at the present time. One of the main problems is the predominance of borrowing over measures to increase equity, including the preference for acquiring borrowed funds in a non-financial form (i.e., acquiring material assets on credit, without taking into account the real possibility of paying them in cash). Moreover, this trend is typical for most enterprises in almost any sector of the economy. That is why it is quite difficult for small businesses to get loans for their activities, since many banks simply do not trust the solvency of these enterprises.
The first problem leads to the second, which is the presence of long-term arrears to suppliers, banks, staff, the budget, extra-budgetary funds and other creditors. The ratio between accounts payable and accounts receivable worsened. Overdue accounts payable in general for enterprises is half of the debt of this type.
This high growth in arrears in economic terms means an equally rapid and significant reduction in the financial sources of the restoration of production.
The main reason for the negative dynamics of the indicators of the ratio of receivables and payables, as well as the steady upward trend in overdue debts in its total amount, is the physical reduction and destruction of fixed production assets, the cessation in most cases not only of their expanded reproduction, but also simple.
The result is a sharp drop in production volumes, which is accompanied by a reduction in own sources of production financing. This leads to a significant decrease in the solvency of the enterprise, as well as to disruption of relations with suppliers, investors, creditors, since such an enterprise will be considered an unreliable partner.
Another key problem that caused the decline in the current financial stability of enterprises is the lack of working capital necessary to ensure current production. The lack of free cash on settlement, currency and other bank accounts negatively affects the financial stability of the enterprise and practically means its bankruptcy.
Excessive dependence of the enterprise on external creditors and investors also indicates a too high proportion of borrowed funds in the capital of the enterprise and adversely affects financial stability.
These problems are to some extent typical for most enterprises. This trend has been observed over the past few years and is associated with the post-crisis period, which the state is trying to overcome, alas, too slowly.
As regards StavroPos LLC, and increasing its financial stability, it is possible to implement the following series of measures. First, it is necessary to improve its organizational structure and management structure, create a service that carries out a constant financial analysis of the enterprise's activities in order to manage the financial stability and control over the level of solvency of the enterprise. Secondly, it is necessary to reduce accounts receivable, because a rather large part of it in the total structure of assets reduces the liquidity and financial stability of the enterprise and increases the risk of financial losses of the company. Thirdly, it is necessary to create a reserve for doubtful debts.
3.2. Directions for increasing the financial stability and solvency of the enterprise StavroPos LLC
Event number 1. Establishment of a financial department.
Any measures to improve the financial condition of the enterprise cannot be carried out without the active work of the employees of this enterprise. At the present stage of its functioning, StavroPos LLC is not able to solve various financial problems, including financial analysis, both internal and external. The enterprise does not have not only a department or service that solves these issues, but also specialists who can be entrusted with the implementation of individual measures to improve the financial condition of StavroPos LLC. Employees of the accounting department are engaged in the calculation of individual indicators of financial and economic activity, but in matters of planning and finding ways out of the current situation, they are not competent enough.
The department will solve the following tasks, which are currently not considered at the enterprise or are not fully resolved, namely:
providing financial resources for the current activities of the enterprise, finding reserves to reduce costs, increase profits and increase profitability with full fulfillment of obligations to the budget, banks, suppliers
analysis of the current economic activity of the enterprise;
participation in the implementation of financial and economic activities;
constant analysis and control of tax legislation, control over the timely payment of taxes and other obligatory payments to the budget and extra-budgetary funds, as well as debts to the budget and funds;
constant analysis of receivables and payables, analysis of agreements and contracts;
preparation of operational information on the movement of funds in the accounts of the enterprise.
It is natural that the creation of another structural subdivision at the enterprise will lead to an increase in the cost price and will require additional financial investments. But the effect that can be obtained from this event is obvious.
It is planned that the department will consist of the following units, which will perform certain functions.
Department composition:
bureau of financial planning;
Bureau of Operational Accounting of Financial and Settlement Operations;
bureau of operational accounting of financial investments.
The main functions of the financial planning bureau include:
participation in the preparation and endorsement of contracts concluded by the enterprise, in particular the terms of settlements with suppliers and consumers in accordance with the financial plan;
ensuring the fulfillment of financial obligations to creditors;
conducting systematic monitoring of the financial condition of the enterprise based on the analysis of accounting, statistical and operational reporting;
control over the state of normalized working capital.
The Bureau of Operational Accounting for Financial and Settlement Operations performs the following functions:
conducts systematic monitoring of the state of receivables, takes measures to collect them;
prepares materials for filing claims arising from non-payment of invoices by consumers of products;
regulates daily payments to suppliers and contractors.
The bureau of operational accounting of financial investments of the enterprise will control the long-term and short-term financial investments of the enterprise, analyze agreements and contracts.
Suppose that 3 specialists will be initially employed to work in the financial department, and as the need and expansion of the department’s activities, the management will decide to hire additional employees
The costs that the company will have to bear in connection with the creation of the financial department will consist of capital investments in the amount of the cost of a personal computer and furniture (90 thousand rubles) and costs associated with the payment of wages (15 thousand rubles * 12 months + deductions for social needs, total 54 thousand rubles).
Total: 90 + 54 = 144 thousand rubles.
Thus, the inefficient structure of the company's property, in particular the increased accounts receivable, requires immediate work to stabilize and improve the financial condition of StavroPos LLC. This work should be entrusted to the specialists of the financial department, which are proposed to be created at the enterprise.
Event number 2. Creation of a scoring system for counterparty reliability in order to reduce accounts receivable. Implementation of a system of fines.
A well-built database and analysis of statistical data on the fulfillment by the counterparty of its obligations make it possible to make an informed decision on the possibility of providing a commercial loan.
At the enterprise StavroPos LLC, it is necessary to create a system for scoring the reliability of a counterparty based on an analysis of work with him. All counterparties must be grouped into four groups according to the level of reliability:
increased attention;
reliable clients;
"gold" clients.
The reliability of counterparties is assessed based on the period of work with the client, the volume of sales to the client and the amount of overdue debt of this client at the end of the period (see Table 3.1).
Table 3.1
Client Reliability Rating Scale
The assignment of the counterparty to a particular group is carried out on the basis of an integral assessment, which is calculated as the product of scores for all three indicators.
The risk group includes enterprises with an integral score from 1 to 4, the group of increased attention - enterprises with 5-12 points, reliable customers - from 12-27, "gold" - from 28-64.
The next measure to reduce accounts receivable is the introduction of a system of penalties for late payment.
One of the most effective tools to maximize cash flow and reduce the risk of overdue receivables is a system of discounts and penalties. The system for accruing penalties and fines for violation of the payment terms established by the debt repayment schedule should be provided for in the contract. Discounts are provided depending on the term of payment for the goods. For example, with a full prepayment, a discount of 3% of the cost of the goods is provided, with a partial prepayment (more than 50% of the cost of the shipped batch) - a 2% discount, with payment upon shipment - a 1% discount. When providing payment by installments for 7 days, discounts are not provided. In case of delay in payment, the penalty is 1% per day from the total amount owed. These conditions must be specified in the contract.
Activities #3. Creation of a reserve for doubtful debts.
The organization creates provisions for doubtful debts in case of recognition of receivables as doubtful.
In this case, the company's receivables are considered doubtful, which are not repaid or with a high degree of probability will not be repaid within the terms established by the contract and are not provided with appropriate guarantees.
Creation of a reserve for doubtful debts in tax accounting is an element of tax planning that allows an enterprise to save on paying income tax. With the help of deductions to the reserve, the organization increases its non-operating expenses and thereby reduces its taxable profit.
In this case, income tax is paid only after the organization receives payment from the buyer for the shipped goods, work performed, services rendered (clause 7 of article 250 of the Tax Code of the Russian Federation).
The Tax Code does not establish a requirement to reflect the creation of a provision for doubtful debts in the accounting policy of an enterprise.
The procedure for creating a reserve for doubtful debts is given in Art. Art. 266 and 313 of the Tax Code of the Russian Federation.
Doubtful debt is debt to the taxpayer, which:
Not repaid within the terms established by the agreement;
Not secured by collateral, surety, bank guarantee.
The amount of the allowance for doubtful debts is determined based on the results of an inventory conducted as of the last day of the reporting or tax period (clause 4, article 266 of the Tax Code of the Russian Federation).
Tax legislation does not establish the specifics of conducting an inventory for the use of its data for tax purposes. Therefore, on the basis of Art. 11 of the Tax Code of the Russian Federation, when forming reserves for doubtful debts in tax accounting, inventory data should be used, which is carried out in accordance with the Guidelines for the inventory of property and financial obligations (approved by Order of the Ministry of Finance of Russia dated 13.06.1995 N 49). This is stated in the Letter of the Ministry of Finance of Russia dated July 26, 2006 N 03-03-04 / 1/612.
The number of inventories in the reporting year, the date of their conduct, the list of property and financial obligations checked during each of them, are established by the head of the enterprise in accordance with the law. Information on the inventory procedure is reflected in the approved accounting policy (Letter of the Ministry of Finance of Russia dated July 17, 2008 N 03-03-06 / 2/84).
When conducting an inventory, the organization checks the correctness and validity of the amounts of receivables, which are listed on the balance sheet of the enterprise (paragraph 3.48 of Methodological recommendations N 49). The results of the inventory of receivables are drawn up:
Act of inventory of settlements with buyers, suppliers and other debtors and creditors (form N INV-17, approved by the Decree of the State Statistics Committee of Russia dated 18.08.1998 N 88);
Help to the Act of Inventory of Settlements with Buyers, Suppliers and Other Debtors and Creditors (Appendix to Form N INV-17).
They reflect only those amounts of receivables for which the limitation period has not yet expired.
Allocations to the reserve for doubtful debts are included in non-operating expenses on the last day of the reporting or tax period (clause 3, article 266 of the Tax Code of the Russian Federation).
If the reporting period for income tax for an enterprise is a quarter, then deductions to the reserve for doubtful debts are charged to non-operating expenses on the last day of the quarter. If the organization reports on income tax on a monthly basis, then deductions to the reserve for doubtful debts must be included in non-operating expenses on the last day of each month.
Let's consider the possibility of creating reserves for doubtful debts for the company StavroPos LLC.
According to the results of the inventory of receivables for services rendered as of 01.01.2013, the following was revealed:
Debt in the amount of 2170.8 thousand rubles. - the period of occurrence is more than 90 calendar days;
In accounting, all debts are recognized as doubtful. Sales proceeds for 2012 amounted to 9322.02 thousand rubles.
Let's define RSO: 2170.8 * 100% = 2170.8 thousand rubles.
Let's define PSO: 9322.02 thousand rubles. x 10% = 932.2 thousand rubles
Thus, in tax accounting, the amount of the reserve as of 01/01/2013 will be 932.2 thousand rubles.
Creation of a reserve for doubtful debts creates an opportunity to save on income tax in the amount of 186.44 thousand rubles.
The creation of a reserve mitigates the negative consequences of writing off bad debts, but does not eliminate them, in this regard, the basis for managing accounts receivable of StavroPos LLC should be measures to prevent the occurrence of debts and enterprises from recovery.
Summing up the above, it should be noted that the decline in financial stability and solvency is to some extent typical for most enterprises. This trend has been observed over the past few years and is associated with the post-crisis period, which the state is trying to overcome, alas, too slowly.
With regard to the company StavroPos LLC, and increasing its financial stability, it is possible to implement the following series of measures. First, it is necessary to improve its organizational structure and management structure, create a service that carries out a constant financial analysis of the enterprise's activities in order to manage the financial stability and control over the level of solvency of the enterprise. Secondly, it is necessary to reduce accounts receivable, because A rather large part of it in the total structure of assets reduces the liquidity and financial stability of the enterprise and increases the risk of financial losses for the company. Thirdly, it is necessary to create a reserve for doubtful debts.
CONCLUSION
Financial stability acts as a guarantor of the strong position of a commercial enterprise. The higher the stability of the enterprise, the more it is independent of unexpected changes in market conditions and, therefore, the less the risk of being on the verge of bankruptcy. The assessment of financial stability in the short term is related to the liquidity of the balance sheet and the solvency of the enterprise.
Ensuring a stable financial position of the enterprise allows attracting additional investments, improving the quality of customer service, the range of products sold, increasing sales and, ultimately, increasing the profitability of the enterprise. If the financial stability of an enterprise is considered reliable, then this allows not only to attract investments, but also to receive a deferred payment from suppliers, to raise funds at a lower interest rate, and this reduces costs and increases its competitiveness.
Summing up the final qualification work, I would like to note that the purpose of the study, which is to develop recommendations for improving financial stability, has been generally achieved.
The implementation of the tasks of this work allowed us to obtain the following main results of the study:
The financial stability of an enterprise is the ability of a business entity to function and develop, to maintain a balance of its assets and liabilities in a changing internal and external environment.
To ensure financial stability, an enterprise must have a flexible capital structure, be able to organize its movement in such a way as to ensure a constant excess of income over expenses in order to maintain solvency and create conditions for self-financing.
The financial stability of an enterprise is determined by the level of its financial independence and the level of its solvency.
An analysis of the financial stability of an enterprise is the most important stage in assessing its activities and financial and economic well-being, reflects the result of its current, investment and financial development, contains the necessary information for investors, and also characterizes the ability of an enterprise to meet its debts and obligations and increase its economic potential.
Financial instability is considered normal (acceptable) if the amount of short-term loans and borrowed funds attracted for the formation of stocks does not exceed the total cost of raw materials, materials and finished products.
Assessment of the company's ability to meet its long-term financial obligations is the essence of assessing its financial stability. For the calculation of analytical indicators, data on all sources, on long-term sources, on sources of a financial nature, which is understood as equity, bank loans and loans (long-term and short-term), can be used.
One of the most important criteria for assessing the financial condition of an enterprise is its solvency. In the practice of analysis, a distinction is made between long-term and current solvency. Long-term solvency refers to the ability of an enterprise to pay its obligations in the long term.
The ability of the enterprise to pay for its short-term obligations is called the current solvency. In other words, an organization is considered solvent when it is able to meet its short-term obligations using current assets.
As a result of the study conducted in the second chapter, the following results were revealed:
As a result of the analysis of the technical and economic analysis, it was revealed that the proceeds from the sale of products tend to increase. In 2010, the volume of product sales amounted to 3500.38 thousand rubles. In 2011, this indicator increased by 35.74% and amounted to 4571.50 thousand rubles. In connection with the increase in production volume, the proceeds from sales in 2012 increased by 96.19% and amounted to 9322.02 thousand rubles. The increase in sales proceeds indicates that the products of the StavroPos LLC enterprise are in demand among the population of the city of Togliatti and every year there is an increase in production activities.
During the analyzed period, the number of employees increased due to the increase in production volume. In 2011, the number of employees of the enterprise amounted to 21 people, which is 26.3% more than in 2010, incl. the number of workers increased by 21.43%. In 2012, the number of employees increased by 14.29%, incl. workers 13.33%.
The largest share in the structure of employees is workers.
The share of workers in the total number of personnel tends to decrease. In 2012, the proportion of workers was 70.83%, which is 2.85% less than in 2010.
The annual wage fund in 2011 increased by 22.39% and amounted to 2432.23 thousand rubles. And in 2012, this figure amounted to 3002.34 thousand rubles, which is 23.44% more than in 2011.
The average salary of employees in 2012 amounted to 125.1 thousand rubles. Wages per 1 ruble of sold products in 2011 amounted to 0.512 rubles, and in 2012 this figure decreased by 37.08% and amounted to 0.322 rubles.
In 2012, the rate of growth of labor productivity outpacing wage growth was 1.59.
The average annual output of 1 worker in 2011 amounted to 316.77 thousand rubles, and in 2012 this figure increased by 73.11% and amounted to 548.35 thousand rubles. The average annual output of 1 employee amounted to 388.42 thousand rubles.
The average daily output of 1 worker in 2012 amounted to 2211.11 rubles, which is 73.81% more than in 2011.
The average hourly output of 1 worker is 184.26 rubles. in 2012 and 106.01 rubles. in 2011.
Gross profit in 2011 increased by 25.39% and amounted to 1446.36 thousand rubles. In 2012, gross profit increased by 148.35% compared to 2011.
Selling expenses tend to increase in 2012, this indicator amounted to 3232.61 thousand rubles, which is 157.47% more than in 2011, resulting in a decrease in sales profit, and together with management expenses, which increased by 39 .6% was a loss on sales. As a result, the profit from sales in 2011 and 2012 is negative. Profit from sales is declining at a rapid pace, and gross profit is increasing - which means that selling and administrative expenses are pulling the company down.
Net profit in the period 2010-2012 has a negative value. In 2010, net profit amounted to minus 88.01 thousand rubles. In 2012, net profit amounted to -132.51 thousand rubles. In 2012, net profit amounted to minus 1,015.82 thousand rubles. As a result of this analysis, we can say that the company receives losses from its activities. This was due to an increase in selling and management expenses. Therefore, the company needs to pursue a policy to reduce these costs.
Analysis of financial stability showed that the company's balance sheet is not absolutely liquid in the period 2010-2012. The company StavroPos LLC has a payment surplus in the second group of assets and liabilities. This indicates that the organization can fully repay short-term and long-term loans and borrowings. However, there is a shortage of the most liquid assets, as indicated by the negative difference between the first group of assets and liabilities. But this situation cannot indicate a non-payment crisis, given that this group of liabilities includes all accounts payable and other short-term liabilities, which, as a rule, are not presented by creditors for payment at the same time.
In 2011, there was a decrease in solvency indicators compared to 2010. There was a need to attract additional sources of funding. In 2012, the solvency of StavroPos LLC recovered. The company rationally uses borrowed funds.
All the results obtained indicate that the enterprise is financially unstable. As evidenced by the increased coefficient of financial risk. For the period from 2010-2012, this coefficient increased by 0.97 units. The financial balance ratio in 2011 decreased by 0.24 units. And in 2012 it increased by 0.9 units. This indicator characterizes the provision of borrowed funds with own funds. It shows the amount of equity capital that falls on 1 ruble. borrowed funds invested in assets. The higher this indicator, the more stable is the financial position of the enterprise.
The autonomy coefficient in 2012 was 0.25 units, which is 0.7 units less than in 2010.
The financial stability ratio amounted to 0.75 units, which indicates that the StavroPos LLC enterprise is not sustainable.
An analysis of the probability of bankruptcy using the E. Altman model showed that the probability of bankruptcy of StavroPos LLC is high.
Summing up the whole analysis, it can be noted that despite the fact that the company is increasing production every year and the products are in demand, sales profit and net profit are negative, which indicates that the company's activity is inefficient. The negative value of these indicators occurred as a result of an increase in selling and administrative expenses, along with this, the company's balance sheet is only 25% liquid. The company is financially unstable, despite the fact that the company has restored its solvency. The probability of bankruptcy is high.
The decline in financial stability and solvency is more or less characteristic of most enterprises. This trend has been observed over the past few years and is associated with the post-crisis period, which the state is trying to overcome, alas, too slowly.
As regards StavroPos LLC, and increasing its financial stability, it is possible to implement the following series of measures. First, it is necessary to improve its organizational structure and management structure, create a service that carries out a constant financial analysis of the enterprise's activities in order to manage the financial stability and control over the level of solvency of the enterprise. Secondly, it is necessary to reduce accounts receivable, because A rather large part of it in the total structure of assets reduces the liquidity and financial stability of the enterprise and increases the risk of financial losses for the company. Thirdly, it is necessary to create a reserve for doubtful debts.
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WAYS TO INCREASE THE FINANCIAL STABILITY OF A COMMERCIAL BANK ON THE EXAMPLE OF SOTSINVESTBANK JSC
Yarullin Raul Rafaelovich,
doctor of economic sciences, professor
Department of Finance and Taxation
Ufa, Russia
Murzagulova Guzel Gabdulkhakovna,
Institute of Economics, Finance and Business,
Bashkir State University
student of the department "Finance and taxation"
Ufa, Russia
ANNOTATION
The problems of financial stability of a commercial bank are considered on the example of Sotsinvestbank JSC, the relevance and essence of the category of financial stability are revealed. The key categories of the bank's financial stability are analyzed. On the basis of the conducted research, ways of solving these problems in this area are proposed.
Keywords: financial stability, commercial bank, bank profitability, bank capital
The banking system is an important component of the implementation of reproductive relations in the economy. The Bank ensures the functioning of the "savings - investments" process. On the one hand, it attracts free monetary resources of the population to deposits at a certain percentage and, thus, preserves their purchasing power. On the other hand, the bank provides organizations and citizens with these resources on the terms of urgency, repayment and payment.
Thus, the state of small and medium-sized businesses and the population as a whole depends on the state of the banking system.
In the Russian Federation, the Central Bank, when assessing the financial stability of credit institutions, uses the Instruction of the Bank of Russia dated April 30, 2008 No. 2005-U “On assessing the economic situation of banks” . With the publication of this regulatory document, a modern model for assessing financial stability has been formed.
In the course of the study, an analysis and assessment of the financial stability of Sotsinvestbank JSC was carried out on the basis of the above-mentioned regulatory legal act. For the analysis, the data of financial statements and the report on financial results for 2013-2015 were used.
As you know, Sotsinvestbank JSC is a republican bank with state participation and, first of all, takes care of the interests of the region of the Republic of Bashkortostan, offering the most favorable service conditions for both individuals and legal entities.
In the third quarter of 2015, the Bank faced financial difficulties due to the revocation of licenses from Rossiyskiy Kredit and AMB Bank. These two credit institutions were counterparties of Sotsinvestbank JSC. A reserve was formed to cover bad loans, which affected a significant reduction in the bank's own funds (capital). Moreover, the change in the provision also affected the financial result for this reporting period, which had a negative value.
Thus, the deterioration of the financial statements of Sotsinvestbank JSC was reflected in the amount of the bank's capital, the quality of assets and the level of profitability.
Also, indicators indicating a deterioration in the financial condition of the bank and an increase in risks in its activities are:
- indicators of a general nature (mandatory standards H1, H2, H3 and H4 in accordance with the requirements of Instruction N 139-I);
— indicators of credit risk (assessments of indicators of loan quality, risk of losses, the share of overdue loans, the size of RVP and RVP, N6, N7, N9, N10 in accordance with the requirements of Ordinance N 2005-U);
— operational risk indicators.
According to the Instruction of the Bank of Russia No. 2005-U, Sotsinvestbank JSC belongs to the 4th group of banks, since, in accordance with paragraph 2.4.3, the Bank does not comply with the capital adequacy ratio in the aggregate for no more than 5 business days during one month of the reporting quarter
In the course of a structural analysis of the bank's income and expenses, it was found that the basis of profitability management is the growth of income at the expense of the stable part and the outpacing of the growth rate of interest income over expenses.
Thus, the following way out of the crisis is proposed - the accumulation of profit as an internal source of growth of own capital.
The main source of equity capital for the bank is the accumulation of profits in the form of various funds and in undistributed form. This is often the easiest and least expensive method of replenishing capital. In addition, the bank's profit is the result of its credit, investment, financial and dividend policies, so the results of operations can lead to both an increase in equity capital and a reduction due to losses.
However, the disadvantage of this internal method of increasing capital is that capital gains are fully subject to federal taxes.
The main problems and directions for improving the financial stability of a bank branch are shown in Figure 1.
Figure 1 - Problems in maintaining the financial stability of the Bank*
For the optimal ratio of borrowed and own funds of the bank, it is necessary to issue securities. This will increase the bank's own capital, which will make it possible to increase the volume of active operations, as well as further expand the bank's activities. The increase in equity capital will improve the reliability of the bank.
Also, it is possible to increase equity by increasing the profitability of the bank by reducing costs, as well as increasing the number of income instruments.
Costs will be reduced by reducing unproductive costs, namely the reduction of 4 operating offices, which, due to their proximity to each other, interrupt the flow of customers and the results of the operation office.
However, the legal aspect of this management decision must also be taken into account. At the beginning, the Bank's management should issue an order to reduce staff and change the staffing table.
The liquidation of four offices will lead to a decrease in the cost of renting premises and salaries of employees. The data is shown in table 1.
Table 1 - Results of the elimination of unproductive costs *
The reduction of offices leads to an increase in the share of clients per 1 operational office. Therefore, there may be queues at the box office. This problem is solved by installed terminals in offices or the Sib-online program.
To increase profits, it is proposed to introduce commission payments. If you can get a bank card for free by consulting a loan officer, then filling out a quick registration application, as well as paying monthly loan payments through the terminal, may charge a commission of 45 rubles. Presumably, 5 people will use the terminal per day. In annual terms, one terminal in the office will bring commission income in the amount of 82.1 thousand rubles. In total, 11 offices in the city of Ufa - 903 thousand rubles.
This management decision is negative in terms of customer confidence. However, the Bank needs to get out of the crisis situation.
Increasing the share of income-generating assets will provide the Bank with more stable operation and increase its stability and reliability.
Since the Bank receives its main income from lending operations, the Bank is invited to use the funds received from the investor PJSC JSCB Rossiyskiy Kapital for the development of consumer lending. The priority of managing active operations should be individuals, as this is a group of creditors of the first priority.
As part of measures to improve the stability of the bank, it is proposed to improve retail lending: lowering the interest rate depending on the loan term.
The proposed lending terms by terms and number of clients who have taken a loan, with a predicted number of 100 loans per year, are presented in Table 2.
Table 2 - Terms of lending by terms and number of clients, people *
The interest rate depends on the term of the loan. They are presented in table 3.
Table 3 - Interest rates on proposed lending, %*
Thus, within 12 months after the introduction of this banking product, the Bank will be able to receive a profit, which is calculated in Table 4. Only the minimum and maximum loan amounts were used in the calculations.
Table 4 - Projected interest income, RUB*
The income received from the issued loans, with the planned distribution of the number of clients, will amount to 3,076,980 rubles.
Current banking expenses related to the direct implementation of credit operations during the year are presented in table 5.
Table 5 – Current bank expenses, rub.*
Thus, the net profit from the increase in lending will amount to 2,247,304.8 rubles (net of current costs and 24% income tax).
The expansion of retail lending allows the bank to have additional financial resources, attract new customers and form a stable customer base for the term of the loan, and further develop its loan portfolio. This makes it possible to implement the development strategy developed by the Bank's management, aimed at finding further ways for the Bank to grow and ensure its sustainable financial position.
BIBLIOGRAPHY
graduate work
"DEVELOPMENT OF MEASURES TO INCREASE THE FINANCIAL STABILITY OF THE ENTERPRISE
Introduction
CHAPTER 1. Theoretical and methodological foundations for analyzing the financial stability of an enterprise
1 The essence and importance of financial stability in the activities of the enterprise
2 Basic approaches to assessing the financial stability of an enterprise
3 Methodology for analyzing the financial stability of an enterprise
4 Normative legal acts regulating the financial stability of an enterprise
CHAPTER 2. Analysis of the financial stability of an enterprise on the example of Alta-Stroy LLC
1 Economic characteristics of the enterprise Alta-Stroy LLC
2 Solvency and liquidity analysis of Alta-Stroy LLC
3 Assessment of the financial stability of Alta-Stroy LLC
4 Organization of ensuring the economic and financial security of the enterprise
5 Information and software tools used in the activities of the enterprise when performing basic operations
2 Measures to increase income at Alta-Stroy LLC
3 Calculation of the effectiveness of the proposed measures
Conclusion
Applications
Introduction
An important condition for the continuous and efficient operation of the enterprise is its prosperous financial condition. To achieve it, it is necessary to ensure the constant solvency of a business entity, high liquidity of its balance sheet, and financial independence. Decide where, when and how to use financial resources for the effective development of production and maximum profit, which is the main goal of the financial activity of the enterprise. Taking care of finances is the starting point and the end result of any legal entity. In a market economy, these issues are of paramount importance. Bringing to the fore the financial aspects of the activities of business entities, the increasing role of finance is a characteristic feature and trend throughout the world.
The global economic crisis has had a serious impact on the development of economic relations of all business entities in all areas of activity. First of all, it affected investment activities in construction and real estate.
Also, in modern economic conditions, the activity of each economic entity is the subject of attention of a wide range of participants in market relations (organizations and individuals) interested in the results of its functioning. In market conditions, the key to survival and the basis for the stable position of the enterprise is its financial stability. It reflects such a state of financial resources in which the enterprise, freely maneuvering finances, is able, through their effective use, to ensure an uninterrupted process of production and sale of products, as well as the costs of expanding and updating it.
Determining the boundaries of the financial stability of enterprises is one of the most important economic problems in the transition to a market economy, since insufficient financial stability can lead to a lack of funds for enterprises to develop production, their insolvency and, ultimately, to bankruptcy, and excessive stability will impede development. , burdening the costs of the enterprise with excess stocks and reserves.
To assess the financial stability of an enterprise, an analysis of its financial condition is used. The financial condition is a set of indicators reflecting the availability, placement and use of financial resources.
Enterprises are introducing integrated enterprise management automation systems - these are document management automation systems, which makes it possible to somewhat facilitate the process of assessing the financial and economic condition of an enterprise by automating its settlement part.
At the same time, the financial condition is the most important characteristic of the economic activity of an enterprise in the external environment. It determines the competitiveness of the enterprise, its potential in business cooperation, assesses the extent to which the economic interests of the enterprise itself and its partners in financial and other relations are guaranteed. Therefore, the system of given indicators aims to show its state for external consumers, since with the development of market relations, the number of users of financial information increases significantly.
The relevance of the topic lies in the fact that the analysis and assessment of the financial stability of an enterprise is very important both for operational financial work and for making strategic decisions in the field of investments, in addition, it is the main component in the system of anti-crisis management of an enterprise. The practical significance of the work lies in the fact that the proposed measures can be implemented at the enterprise, which will contribute to the optimization of the financial planning system.
The object of the study is the limited liability company "Alta-Stroy".
The purpose of this work is to assess and analyze the financial stability of Alta-Stroy LLC and develop ways to improve it.
Based on the purpose of the work, the following tasks are set:
-study of the theoretical foundations of the analysis of the financial stability of the enterprise;
-analysis of the general organizational and economic characteristics of the object of study;
assessment of the financial condition of the enterprise on the basis of financial ratios;
development of measures aimed at improving financial and economic activities and its financial results.
The laws of the Russian Federation, laws that develop the provisions of federal laws, laws on the interaction of bodies act as the regulatory framework. The theoretical and methodological basis was the work of domestic and foreign authors, methodological materials of scientific and practical conferences and seminars in the field of financial analysis.
CHAPTER 1
1.1The essence and importance of financial stability in the activities of the enterprise
In the context of the financial and economic crisis, commercial organizations are forced to revise the terms of contracts with suppliers and customers; all the attention of the management of the organization is directed mainly to the search for reserves to reduce costs. The financial and economic crisis is a kind of "exam" for commercial organizations; in a crisis, only those economic entities will be able to function, the management of which has managed to adapt to changing macro- and microeconomic indicators. In a crisis, the number of non-payments and the application of bankruptcy procedures are increasing. In this regard, many organizations lose regular customers and suppliers. In order to function, organizations are forced to establish correspondent relationships with other, unfamiliar counterparties.
Before establishing business relationships with potential business partners, it is necessary to assess the degree of their financial stability.
Any organization belongs to an open socio-economic system, in which the following properties can be distinguished:
-the socio-economic system functions in time, interacts with the external environment and at any moment can be in one of the possible states predetermined by the life cycle curve;
-resources are received at the “input of the system”, and results (products, works, services) are formed at the “output”;
-inside the system, based on the technologies used, the incoming resources are converted into results;
-under the influence of the external environment within the system, deviations of the given development indicators occur, which are a factor that predetermines the transition of the system from one state to another, and lead to adaptation of the input and output parameters of the system;
-sustainable should be considered the development of a socio-economic system, which achieves a minimum gap between its specified and actual characteristics, subject to minimal costs to ensure such a stable state.
Thus, the organization develops under the condition of ensuring sustainability, otherwise it may not emerge from the next deviation from sustainable development (crisis). Sustainability is a factor in the development of the system.
Financial stability is one of the most important characteristics of the financial condition of the organization. The works of both domestic and foreign authors show that the concept of "financial stability" is based on the optimal ratio between the types of assets of the organization (current and non-current, taking into account their internal structure) and the sources of their financing (own and borrowed funds).
The stability of an organization operating in a market economy is one of the most important factors in assessing its competitiveness.
We will display the factors that determine the financial stability of an organization in (Fig. 1.1).
Before giving a definition of financial stability, it is necessary to turn to the terminological side of this issue. So, V. Dahl gives a definition of the original concept of “stability” from the word “to resist, resist against whom, what - stand firm, withstand, successfully resist force, endure, not give in. Steady, steadfast, strong, firm, not wobbly." In other words, we can say that resilience is resilience, non-existence to the risk of losses and losses, constancy.
Rice. 1.1 Components of the financial stability of the organization
Ozhegov S.I. in his Dictionary of the Russian Language gives a similar interpretation of the concept - "sustainable" and "finance". Steady - standing firmly, not wavering, not falling, not subject to fluctuations, constant, steadfast, solid. The word "finance" is revealed as money, an element of the national economic turnover, money, money affairs.
From the point of view of M.V. Melnik, the financial condition is considered stable if the organization has sufficient capital to ensure the continuity of its activities related to the production and sale of products in a given volume, as well as to fully and timely pay off its obligations to personnel for the payment of wages, the budget for the payment of taxes and suppliers for the supplies and services received from them, to generate funds for the renewal and growth of non-current assets.
L.I. Kravchenko also does not give a direct definition of the financial stability of an enterprise, but points out that the stable financial position of an enterprise is characterized primarily by the constant availability of the required amount of funds in bank accounts, the absence of overdue debts, the optimal volume and structure of current assets, their turnover, rhythmic development of output, trade turnover, profit growth, etc.
In turn, L.A. Bogdanovskaya, G.G. Vinogradov argue that the concept of the financial stability of an enterprise is closely related to the prospective solvency. The assessment of financial stability allows external subjects of analysis (especially investors) to determine the financial capabilities of the enterprise in the long term. Since in a market economy the implementation of the production process, its expansion, satisfaction of the various needs of the enterprise are carried out through self-financing, and if they are insufficient, borrowed, financial independence from external borrowed sources is of great importance, although it is difficult to do without them. Therefore, the ratios of borrowed, equity and total capital are being studied from various positions.
V.V. Bocharov is one of the few who does not present financial stability as a group of characteristic indicators, but gives a definition of financial stability: the financial stability of an economic entity is such a state of its financial resources that ensures the development of an enterprise mainly at its own expense while maintaining solvency and creditworthiness with a minimum business risk level.
Financial stability is a goal-setting property of financial analysis, and the search for goal-setting opportunities, means and ways to strengthen it has a deep economic meaning and determines the nature of its implementation and content, says L.T. Gilyarovskaya.
In our opinion, G.V. Savitskaya: "The financial stability of an enterprise is the ability of a business entity to function and develop, to maintain a balance of its assets and liabilities in a changing internal and external environment, which guarantees its constant solvency and investment attractiveness within the limits of an acceptable level of risk."
The difference between real equity and authorized capital is the main initial indicator of the stability of the financial condition of the enterprise.
Many foreign authors emphasize that the financial stability of an organization is determined by the rules aimed at both maintaining the balance of financial structures and avoiding risks for investors and creditors. In their opinion, it is advisable to measure financial stability by indicators characterizing various types of correlation between own and borrowed sources of funds used to form property reflected in the asset balance.
An analysis of the stability of the financial condition on a particular date allows you to find out how correctly the company managed financial resources during the period preceding this date. It is important that the state of financial resources meet the requirements of the market and meet the needs of the enterprise's development, since insufficient financial stability can lead to the enterprise's insolvency and lack of funds for the development of production, and excess financial stability can hinder development, burdening the enterprise's costs with excessive stocks and reserves.
The financial stability of an enterprise is related to the overall financial structure of the enterprise and the degree of its dependence on creditors and debtors. For example, an enterprise that is financed mainly by borrowed money, in a situation where several creditors simultaneously demand their loans back, may go bankrupt. In this case, the structure of the enterprise "own capital - borrowed capital" has a significant preponderance towards the latter.
Essence of an estimation of financial stability is an estimation of security of stocks and expenses by sources of formation. The degree of financial stability is the reason for a certain degree of solvency of the organization. The most general indicator of financial stability is the surplus or lack of sources of reserves and costs.
The assessment of financial stability allows external subjects of analysis to determine the financial capabilities of the organization for the long term.
The purpose of financial stability analysis is to assess the ability of an enterprise to repay its obligations and retain ownership of the enterprise in the long term. In this case, it is necessary to solve the following tasks:
-objective assessment of financial stability;
-identification of factors affecting financial stability;
-development of options for specific management decisions aimed at strengthening financial stability.
The value of the financial stability of individual economic entities for the economy and society as a whole is made up of its value for each individual element of this system:
-for the state represented by tax and other similar authorities - timely and full payment of all taxes and fees to the budgets of various levels. The use of the revenue part of the budget depends on this, as well as the ability to fully realize their functions and fulfill obligations, which ultimately can lead to various negative consequences at the state and regional levels;
-for off-budget funds formed under the auspices of the state - timely and full repayment of debts on deductions to these funds. Failure by enterprises to fulfill their obligations entails violations in their work, in particular in the field of pension payments, childcare benefits, unemployment benefits, etc.;
-for employees of the enterprise and other interested parties - timely payment of wages, provision of additional jobs. In addition, an increase in the income of an enterprise leads to an increase in consumption funds, and hence to an improvement in the material well-being of the employees of this enterprise;
-for suppliers and contractors - timely and full fulfillment of obligations. For them, these moments are extremely important, since their income from the main activity is formed from receipts from buyers and customers. Withdrawal of financial resources from circulation due to untimely settlements weakens their financial condition, forces them to attract additional borrowed funds to ensure normal functioning, which is associated with additional costs;
-for servicing commercial banks - timely and complete fulfillment of obligations in accordance with the terms of the loan agreement. Failure to comply with its conditions, non-payments on loans issued can lead to disruptions in the functioning of banks;
-for owners - profitability, the amount of profit directed to the payment of dividends. For the owners of the enterprise, the importance of financial stability is manifested as a factor determining its profitability and stability in the future;
-for investors (including potential ones) - the profitability and degree of risk of investing in an enterprise. The more financially stable it is, the less risky and more profitable it is to invest in it.
The highest form of enterprise sustainability is its ability to develop. To do this, the enterprise must have a flexible structure of financial resources and the ability, if necessary, to attract borrowed funds, i.e. be creditworthy.
An analysis of Russian business practice shows that an unstable financial situation is observed both in enterprises that are experiencing a decline in production and have signs of insolvency, and in enterprises that, on the contrary, are characterized by high growth and capital turnover, but have a high level of semi-fixed costs and gradually lose profit.
1.2 Basic approaches to assessing the financial stability of an enterprise
Studies have shown that the assessment of financial stability is based on the coefficient method (relative indicators). Thus, the coefficients are among the most famous and widely used tools of financial analysis.
We single out the following approaches to assessing the financial stability of an organization:
Traditional;
resource;
-resource management;
-based on the use of stochastic analysis;
-based on the use of fuzzy set theory;
-based on the use of other special methods and calculation models.
Traditional, resource and resource management approaches are implemented within the framework of the coefficient method.
Traditional approach. We refer to the traditional approach, which uses indicators that characterize the assets of the organization, the sources of their formation and other aspects of financial and economic activity without grouping according to a certain attribute.
In the methodology, indicators of solvency and financial stability are combined into one group containing 10 coefficients:
-general solvency;
-debt ratio on bank credits and loans;
-debt ratio to other organizations;
-debt ratio of the fiscal system;
-domestic debt ratio;
-the degree of solvency for current obligations;
-current liabilities coverage ratio of current assets;
-own capital in circulation;
-the share of own capital in working capital;
-autonomy factor.
Disadvantages of this method:
-the diversity of the set of coefficients is associated with various sources of information used by the authors;
-the significance of each coefficient depends on the qualifications of the experts;
-coefficients calculated on the basis of financial statements reflect retrospective data, which leads to a decrease in the quality of the assessment;
-the use of different methods for rating evaluation leads to ambiguous results.
resource approach. The essence of the resource approach lies in the fact that resources are considered as factors of production involved in achieving a result. There are labor, material, financial, information, intellectual resources, etc. Their presence, composition and efficiency of use determine the volume of sales (revenue), profit, cost.
As a rule, when evaluating and forecasting the development of an organization, it does not make sense to use a large number of indicators. Indicators can be from groups of different economic content and purpose, but their purpose is a characteristic of the “economic development of production” type in accordance with the structure and dynamics of indicators characterizing the use of resources.
Various combinations of the dynamics of sales (production), consumed resources and the value of their return determine the type of economic development of production and identify indicators that characterize the financial stability of the organization.
When assessing the financial stability of an organization, the question of the time of deterioration in the financial condition of an enterprise is relevant. Within the framework of the approach under consideration, such a moment will be the presence of extensive factors in the development of production. The presence of extensive factors indicates the available reserves, the use of which can lead the organization out of the upcoming crisis.
An analysis of existing and research of new systems shows that in order to ensure the systemic and structural stability of complex systems of production, economics, painting, music and other areas, it is necessary to establish relationships between the main indicators of the system that correspond to the principle of the "golden proportion" (Table 1.2).
Table 1.2
Classification of financial stability, taking into account the principle of the "golden proportion", depending on the type of economic development of production
Type of financial stabilityType of production developmentMeasurement limitsAbsoluteIntensiveMore than 62%NormalIntensive-extensiveFrom 38% to 62%Unstable financial conditionExtensively-intensiveFrom 14% to 38%Crisis financial conditionExtensiveLess than 14%
Resource management approach. The effectiveness of the resources used depends on the quality of the organization's management, which is not taken into account in the above methods for assessing sustainability. Poor management in an organization can lead to a crisis situation. In this regard, the growth of economic potential should be supplemented with the following condition: the growth rate of management costs per output volume should not exceed the growth rate of specific resource consumption for the output of the same output:
where is the growth rate of administrative expenses;
Growth rate of direct resource costs.
The rating assessment of the financial stability of organizations for the periods of the study is determined in accordance with the algorithms. The significance of the indicators may change under the influence of external conditions of the functioning of the organization.
Methods and models based on stochastic analysis. Conclusions about the probability of loss of financial stability can be drawn on the basis of a comparison of the indicators of this and similar organizations that went bankrupt or avoided bankruptcy. However, in Russia it is very difficult, and often impossible, to find a suitable analogue for comparison in each case.
Methodological approaches to the construction of multi-factor models for predicting bankruptcy can be used in predicting the financial stability of Russian organizations. To achieve higher accuracy of the results, it is necessary to constantly adjust the set of indicators and the values of the weighting coefficients for each indicator, taking into account the type of economic activity and other listed conditions.
Methods and models based on the theory of fuzzy sets. Fuzzy logic is one of the most successful modern technologies for developing and evaluating complex organization management systems. It fills an important gap in design methods with unaffected mathematical approaches (eg linear control design) and logical approaches (eg expert systems) in system design and performance evaluation.
Having studied the main approaches to assessing the financial stability of an enterprise, it is advisable to move on to considering the methodology for its analysis.
1.3 Methodology for analyzing the financial stability of an enterprise
The method of economic analysis is a way of understanding the formation of indicators of financial and economic activity and the factors of their change in dynamics compared to the plan. A characteristic feature of the method of economic analysis is the study of the causes of changes in indicators of financial and economic activity in their interconnection and interdependence, the identification and quantitative comparison of factors and reserves for improving the financial condition of an enterprise and increasing production efficiency.
Each process of formation of indicators of financial and economic activity must be considered as a unity and struggle of opposites.
The objects of analysis are indicators of sources and funds, fixed and working capital, investment and innovation activities, business plan, financial condition, efficiency of capital use, labor resources, production volume, sales, profit and profitability.
The subject of economic analysis is the factors and reserves of changes in the analyzed indicators.
When forming indicators of financial and economic activity, there is a transition from quantity to quality; the emergence of a new quality; negation of negation; the struggle of opposites, i.e. economic analysis is inherent in all the laws and methods of materialistic dialectics.
All phenomena and processes must be considered in constant motion, change, development. Comparisons are very widely used in the analysis of the financial performance of an enterprise: the actual performance results are compared with the results of previous years, the achievements of other enterprises, targets, etc.
The use of the dialectical method in the analysis means that the study of the economic activity of the enterprise should be carried out taking into account all the relationships. No phenomenon can be correctly understood if it is considered in isolation, without connection with another.
An important methodological feature of analysis is that it is able not only to establish causal relationships, but also to give their quantitative characteristics, i.e. ensure the measurement of the influence of factors on the performance results. This makes the analysis accurate and the conclusions justified.
The use of the dialectical method in the analysis of financial activity means that every process, every economic phenomenon must be considered as a system, as a set of many interconnected elements. This implies the need for a systematic approach to the study of objects of analysis.
The methodology of economic analysis is an official, common for all industries or a private document that takes into account the specifics of the industry, containing a list of indicators under study, a classification of factors, their measurement, techniques that allow one to quantify the influence of individual factors on changes in indicators, and which is one of the elements of the mechanism for applying objective laws. to the identification of reserves for improving the financial condition, to the process of steady growth in the productivity of social labor, to increasing the efficiency of using each type of production and financial resources.
The methodology of economic analysis includes:
its goals and objectives; the totality of the studied indicators;
the sequence, frequency and timing of the analysis;
sources of information; methods of analysis;
the order of registration of the results and their evaluation;
specific services and individuals undergoing analysis.
The practice of financial analysis has already developed the basic rules for reading (method of analysis) of financial statements. There are six main methods among them:
horizontal analysis;
vertical analysis;
trend analysis;
method of financial ratios;
comparative analysis;
factor analysis.
Horizontal (temporal) analysis - comparison of each reporting position with the previous period.
Vertical (structural) analysis - determination of the structure of the final financial indicators with the identification of the impact of each reporting position on the result as a whole.
Trend analysis - comparing each reporting position with a number of previous periods and determining the trend, i.e. the main trend in the dynamics of the indicator, cleared of random influences and individual characteristics of individual periods. With the help of the trend, possible values of indicators are formed in the future, and therefore, a prospective, predictive analysis is carried out.
Analysis of relative indicators (coefficients) - calculation of ratios of reporting data, determination of interrelations of indicators.
Comparative (spatial) analysis is both an on-farm analysis of summary reporting indicators for individual indicators of a company, subsidiaries, divisions, workshops, and an inter-farm analysis of the performance of a given company in comparison with competitors' indicators, with average industry and average general economic data.
Factor analysis is an analysis of the influence of individual factors (reasons) on the performance indicator using deterministic or stochastic research methods. Moreover, factor analysis can be both direct (analysis itself), i.e. the splitting of the performance indicator into its component parts, and the reverse (synthesis), when its individual elements are combined into a common performance indicator.
Existing analysis methods are divided into general, private, methods for analyzing the use of each type of production resources, methods for studying private and generalizing indicators of the efficiency of capital use, current, investment and financial activities, financial condition and its forecasting.
Depending on the types of economic analysis, the following methods of its implementation can be distinguished:
at the enterprise level: intra-industry, intra-shop, shop, analysis at the level of production associations and industries;
functional cost, financial and economic, operational (daily, ten-day, weekly), preliminary, current and final;
the efficiency of the use of fixed and working capital, the formation of funds and sources of funds, profit and profitability, volume and sales of products.
An analysis of the financial condition is an analysis in the course of which the provision of the enterprise with the financial resources necessary for the normal course of production activities, the purposefulness of their placement and use are revealed, financial relations with other business entities, the solvency of the enterprise itself and its market stability are clearly defined.
The financial condition of the enterprise depends on the results of its production and financial activities, on the basis of which plans are made and forecasts are made for the future. Production activity largely depends on the financial condition.
The main goal of financial activity is to decide where, when and how to use financial resources for the effective development of production and maximum profit.
The main task of the analysis is the timely identification and elimination of shortcomings in financial activity, finding reserves for improving the financial condition of the enterprise, solvency.
According to the balance sheet, the following main financial indicators can be determined:
the value of the property of the enterprise, which is expressed by the value of the total of the balance sheet;
cost of fixed assets (final line of section I of the balance sheet);
the amount of working capital (the final line of section II of the balance sheet);
the amount of own funds (the final line of section IV of the balance sheet);
the amount of borrowed funds - the sum of balance sheet indicators reflecting long- and short-term loans and borrowings (the sum of the results of sections IV and V).
It is easier and more convenient to study the structure and dynamics of the financial condition of an enterprise using a comparative analytical balance sheet, which includes the main aggregate indicators of the balance sheet. The comparative analytical balance brings together and systematizes the calculations that an analyst usually performs when familiarizing himself with the balance sheet. The analytical balance scheme covers many important indicators that characterize the statics and dynamics of the financial condition of an entrepreneurial organization, which makes it possible to simplify the work of conducting a horizontal and vertical analysis of the main financial indicators of an enterprise.
In the course of horizontal analysis, absolute and relative changes in the values of various balance sheet items for the reporting period are determined, and the purpose of vertical analysis is to calculate the share of indicators in the total balance sheet of the enterprise.
The scheme for constructing an analytical balance is given in (Table 1.3).
Table 1.3
Building an analytical balance
Balance itemsAbsolute values, r.Share, %Changes at the beginning of the periodEnd of the periodBeginning of the periodEnd of the periodabsolute values, r. (3) - (2) specific gravity (5) - (4)%, to the value at the beginning of the period (6) / (2)? A2 - A1Balance (A)A1A2100100012345678Passive P ... Pi ... PnP1P2P1 / B1 100% P2 / B2 100% P \u003d P2 - P1Balance (B) B1B21001000
Mandatory indicators of the comparative analytical balance are:
absolute values for the items of the original reporting balance at the beginning and end of the period;
specific weights of balance sheet items in the currency (total) of the balance sheet at the beginning and end of the period;
changes in absolute values and specific gravity;
changes in % to the values at the beginning of the period (growth rate of the balance sheet item).
Directly from the analytical balance of the enterprise, you can get a number of the most important characteristics of the financial condition of the enterprise, such as:
the total value of the property;
cost of non-current assets;
the cost of working capital;
cost of material working capital;
the amount of receivables, including advances given to suppliers and contractors;
the amount of free cash, including securities and short-term financial investments;
the amount of own funds of the enterprise;
amount of borrowed funds;
the amount of long-term loans and borrowings intended, as a rule, for the formation of fixed assets and other non-current assets;
the amount of own funds in circulation;
the amount of short-term credits and loans intended, as a rule, for the formation of current assets.
Horizontal, or dynamic, analysis of these indicators allows you to establish their absolute increments and growth rates, which is important for characterizing the financial condition of the enterprise, but no less important for assessing the financial condition is the vertical (structural) analysis of assets and liabilities of the balance sheet.
An analysis of the dynamics of the balance sheet total, the structure of assets and liabilities of the enterprise allows us to draw a number of important conclusions that are necessary both for the implementation of current financial and economic activities and for making managerial decisions in the future.
Thus, by analyzing the data of the articles of the analytical balance, it is possible, first of all, to establish what changes have occurred in the composition of the funds and their sources, the main groups of these funds, and also to get answers to a number of questions that are important for the purposes of the operational management of the enterprise:
1.In what direction and to what extent have individual balance sheet items changed, and what assessment do these changes deserve?
2.Is it necessary to conduct a more in-depth analysis and for what period?
.What are the "bottlenecks" in providing the enterprise with financial resources and their use? etc.
1.4 Regulations governing the financial stability of an enterprise
Having considered the essence and importance of financial stability in the activities of an enterprise, we will consider the main legal documents governing the analysis of the financial stability of an enterprise. They are given in (Table 1.4).
Table 1.4
The main legal documents governing the analysis of the financial stability of an enterprise
Name of the regulatory legal act Brief description measures to prevent insolvency (bankruptcy). 2. Decree of the FSFR of the Russian Federation "On approval of the Standard program for training specialists in anti-crisis management" dated November 19, 2001 N 355-r. Serves for the training of specialists in anti-crisis management. "of September 22, 1999 N 30-r. Serves to regulate the possibility of restructuring the debt of organizations. 4. Order of the Federal Office for Insolvency (Bankruptcy) of September 12, 1994 N 56-r. Timely recommendations are given on assessing the financial condition enterprises with signs of insolvency. enterprises and assess the structure of their balance sheets.6.Distribution Ordinance of the Federal Office for Insolvency (Bankruptcy) "On Accounting for Insolvent Enterprises" dated June 30, 1994 N 15-r. Accounting normative support of insolvent enterprises. 7. Letter of the Central Bank "On Methodological recommendations for the analysis of financial statements prepared by credit institutions in accordance with IFRS" dated February 28, 2005 N 35-T. Gives recommendations on the analysis of financial statements.
As can be seen from the data in Table 1.4, the list of legal acts provides a fairly complete coverage of various aspects of the work on assessing the financial stability of an enterprise.
CHAPTER 2. ANALYSIS OF FINANCIAL STABILITY ON THE EXAMPLE OF ALTA-STROY LLC
2.1Economic characteristics of the enterprise Alta-Stroy LLC
Full name of the company: Limited Liability Company Alta-Stroy.
Abbreviated name of the company: Alta-Stroy LLC
Legal address: 428000, Cheboksary, Shkolny proezd, 1.
Actual (postal) address: 428000, Cheboksary, Shkolny proezd, 1.
LLC "Alta-Stroy" is registered in accordance with the first part of the Civil Code of the Russian Federation, the Federal Law "On Limited Liability Companies" and the decision of the founders dated April 05, 2002.
The purpose of the creation of the Society is: to expand the supply of the service market and make a profit, create additional jobs.
To achieve its goals, the Company may carry out any activities not prohibited by law. The main activity is construction. On August 15, 2005, the organization received a new license (instead of the old one) for the construction of buildings and structures of I and II levels of responsibility, allowing the following activities:
geodetic, excavation and preparatory work;
stone work; arrangement and installation of concrete and reinforced concrete, wooden and light enclosing structures;
insulation and roofing, finishing works;
landscaping;
floor arrangement;
work on the arrangement of external and internal engineering networks and communications;
pile and special concrete works;
installation of steel structures;
protection of structures, process equipment and pipelines;
transport construction;
erection of special facilities for intersectoral economy
work on the arrangement of external and internal engineering networks and communications, etc.
The company performs the functions of a general contractor and a customer-builder. License GS-4-21-02-27-0-2127331790-002613-1 dated August 15, 2005, valid until August 15, 2010.
The enterprise has a well-established supply and marketing system, for which purpose specialized departments (sales department and logistics department or purchasing service) are organized, responsible for the competent and accurate performance of proper duties. In this connection, interruptions in the supply of raw materials and materials do not occur at all.
Management decisions are made in the form of orders from the Board of Founders, the responsibility for their implementation is assigned to the heads of departments. Planning meetings are held weekly at the enterprise.
The sales department is also responsible for the formation of the general tactics and strategy of the enterprise. Planning at the enterprise is long-term in nature, based on the specifics of the activity.
As for the accounting policy for accounting, it is maintained by the accounting department as an independent unit under the leadership of the chief accountant. Accounting information is processed automatically using software tools, the company uses the licensed program "1C: Construction Contractor", wages are kept in the Fireplace program. The accounting form is automated with individual elements of the memorial-order form, with output forms of accounting registers and primary documents recommended by the Ministry of Finance of the Russian Federation.
The useful life of fixed assets is determined on the basis of the Classification of fixed assets included in depreciation groups, approved by Decree of the Government of the Russian Federation of January 1, 2002 No. 1.
The company uses the straight-line depreciation method for all objects, including intangible assets.
Advance income tax payments are made on the basis of the income tax actually paid for the previous quarter. The date of sale for the calculation of value added tax is the date of receipt of funds for shipped products (goods, works, services) to the accounts or to the cash desk of the organization.
The assessment of raw materials or materials used in the production (manufacturing) of goods (performance of work, provision of services) is carried out at the average cost. The cost of inventories written off to production is determined by the average cost.
The useful life of fixed assets is determined on the basis of the Classification of fixed assets included in depreciation groups, approved by the Decree of the Government of the Russian Federation of January 1, 2002 No. No. 1. Costs for the repair of fixed assets are included in the cost of products, works and services in the current reporting period at actual costs. The assessment of the cost of inventories during their implementation is carried out at their actual cost.
The Company may establish branches and open representative offices on the territory of the Russian Federation and abroad in compliance with the requirements of the current legislation.
The heads of the sections are the leaders and direct organizers of the construction production in the assigned sections and are subordinate to the leadership of the construction department, the general director.
The organizational structure of management is shown in (Fig. 2.1).
Rice. 2.1. The structure of the management bodies of Alta-Stroy LLC.
The existence of the Company in the real estate market is unrealistic without a well-established management of its financial resources and cash flows. This at the enterprise is carried out by the financial director and accounting department. They are interconnected, because the result of financial analysis is largely determined by the quality and reliability of the information base. And the main source of financial analysis is the financial statements compiled by the accounting department.
The main tasks of the financial director and accounting department:
carrying out timely analysis and planning in the form of an assessment of the company's assets and sources of their financing, sources of additional financing, etc.;
providing the enterprise with the necessary financial resources, which involves a detailed assessment of the amount of funds required, the form of their presentation, the degree of admissibility and the time of provision;
distribution of financial resources, which involves the analysis and evaluation of long-term and short-term investment decisions, etc.
The supply department organizes the provision of the enterprise with all the material resources of the required quality necessary for its production activities and their rational use in order to reduce production costs and maximize profits.
The production department is working on the creation of construction projects, controls the facilities under construction. The department maintains project documentation, develops construction projects, draws up reports on the work done at construction sites, and resolves all issues related to the organization's participation in tenders.
The marketing and sales department is engaged in drawing up contracts with shareholders (because the construction is mainly shared), compiling financial statements, and also performs the functions of a marketing department, i.e. conducts marketing research, studies prices in the construction market of Chuvashia, studies the construction market, analyzes the forms and channels of distribution, engages in advertising, studies the prices set in the real estate market by other construction organizations, studies supply and demand.
The main activity of Alta-Stroy LLC is construction. The Company performs the functions of a customer-developer.
To develop a construction project, it is necessary to provide the general designer with the initial data:
-architectural and planning task, drawn up by the bodies of architecture and urban planning. The architectural and planning task can be combined with the design task;
Technical conditions for connection to sources or external networks of engineering equipment;
initial data for the preparation of estimate documentation;
initial data for the development of a construction organization project;
the decision of the local government on the demolition of buildings and the nature of compensation for demolition;
inventory materials of land, existing buildings, underground and surface networks and structures;
materials of the approved project of detailed planning of the residential area;
catalog of structures produced by construction base enterprises;
topographic plan and engineering survey materials.
To draw up a scheme and a district planning project, the following indicators are required: territory, population, housing stock, transport services, engineering equipment and landscaping, the establishment of a system of cultural and community services for the population, institutions and public service enterprises.
The construction site has its own scheme of subordination of workers (Fig. 2.2).
The heads of the sections are the leaders and direct organizers of the construction production on the site assigned to him, and report to the leadership of the construction department, the general director.
Rice. 2.2. The system of subordination of workers at construction sites
The foreman is the head and direct organizer of production at the site assigned to him and reports to the head of the site or directly to the head of the construction, specialized department, general director.
The foreman of construction and installation works, who reports to the foreman or site manager, depending on the number of objects and the volume of work of the site, is in charge and direct organizer of the construction production and labor of workers at the assigned facility (type of work). All brigades and workers employed at the facility supervised by him are subordinate to the foreman; for these working instructions, the master's instructions are mandatory and can only be canceled by the manufacturer of the work. The foreman gives instructions to the foreman of the workers, who in turn brings the tasks to the workers.
Operational planning of production is carried out by the production department (UKS). Here, the time for the implementation of individual construction and installation works is carefully verified, the total amount of work, the necessary labor force and the time for their implementation are planned, then, together with the personnel department, individual daily plans are drawn up for each team of workers. Labor rationing is the competence of the personnel department and takes place in accordance with the Labor Code. There are no clear stock management schemes at the enterprise, since there are no own warehouses, and accounting is mainly involved in accounting for materials. In fact, all responsibility falls on the shoulders of suppliers, but, as a rule, there are no problems with them.
Calendar planning is part of production planning and relies primarily on the complexity of the work performed, their harmfulness, duration, and also takes into account holidays, weekends, vacations and possible sick leave. The plan is drawn up for each working week for a separate team. Toward the end of the construction of facilities, it can be drawn up for several days, depending on whether the workers managed to complete everything on time.
The motivation and stimulation of the work of production workers is widely used: bonuses, lump sums, remuneration, material assistance, etc.
Production management at different levels occurs in different ways. At the highest level, management includes strategic planning, goal setting and task formation, organization, motivation, control over the execution of management decisions. At the middle level: operational planning, rationing, stocking and control of the production process. And at the grassroots level, management provides for control over each specific employee, over the execution of the calendar plan (daily, weekly, etc.), over the timely delivery of materials, taking into account valuables and stocks.
The activities of Alta-Stroy LLC are regulated by the Charter. The Company is a legal entity and owns separate property reflected on its own balance sheet, including property transferred to it by shareholders as payment for shares. The Company may, on its own behalf, acquire and exercise property and personal non-property rights, bear obligations, be a plaintiff and a defendant in court. The Society has a round seal containing its full name in Russian and an indication of its location. The Company has the right to have stamps and letterheads with its name, its own emblem, as well as a duly registered trademark and other means of visual identification.
Sales of products, performance of work and provision of services are carried out at prices and tariffs established by the company independently, except as otherwise provided by law.
The Company may participate in activities and create on the territory of the Russian Federation and abroad, including in foreign states, economic companies, partnerships and production cooperatives with the rights of a legal entity. The Company may, on a voluntary basis, unite into unions, associations on conditions that do not contradict the antimonopoly legislation in force on the territory of the Russian Federation, and in the manner prescribed by legislative acts.
The Company may participate in activities and cooperate in other form with international public, cooperative and other organizations.
The Company has the right to engage Russian and foreign specialists for work, independently determine the forms, systems, sizes and types of remuneration for their work.
Interference in the administrative and economic activities of the company by state, public and other organizations is not allowed, unless this is due to their rights to exercise control and audit in accordance with the current legislation.
The Company shall be liable for its obligations with all its property. The Company is not liable for the obligations of its shareholders.
If the insolvency (bankruptcy) of the company is caused by its shareholders or other persons who have the right to give instructions binding on the company or otherwise have the opportunity to determine its actions, such persons, in the event of insufficient property of the company, may be assigned subsidiary liability for its obligations.
The insolvency of a company is considered to be caused by its shareholders or other persons who have the right to give binding instructions or the ability to determine actions only if such shareholders or other persons used their right to give mandatory instructions or the ability to determine the actions of the company, knowing that this action will be the insolvency of the company.
The state and its bodies are not liable for the obligations of society, just as the society is not liable for the obligations of the state and its bodies.
The activities of the Company are regulated by the Housing Code of the Russian Federation dated December 29, 2004 N 188-FZ (as amended on December 31, 2005, December 18, 29, 2006, October 18, 2007), the Tax Code of the Russian Federation, the Civil Code of the Russian Federation, the Labor Code of the Russian Federation (as amended on December 1.6, 2007); Decrees of the Government of both the Russian Federation and the Chechen Republic, laws and by-laws of local governments, as well as the President of the Chechen Republic; resolutions of the Federal State Statistics Service; Federal Agency for Construction and Housing and Communal Services, State Committee of the Russian Federation for Environmental Protection.
For example: Decree of the Federal State Statistics Service of March 16, 2007 N 28 "On approval of statistical tools for organizing statistical monitoring of fixed assets and construction for 2008";
Decree of the Cabinet of Ministers of the Chuvash Republic of March 17, 2004 N 51 "On Approval of the Approximate Procedure for Granting Grant Subsidies to Citizens for the Construction or Acquisition of Housing at the expense of Local Budgets in 2004";
The organization has an internal document flow.
First of all, the enterprise carries out its activities in accordance with the charter of the LLC. The head of the enterprise issues orders.
The enterprise uses a balance sheet (form No. 1), as well as a profit and loss statement (form No. 2) (see Appendix).
The balance sheet is an accounting document representing a set of indicators characterizing the financial and economic condition of a company on a certain date, most often at the end or beginning of a calendar period. The profit and loss statement contains data on income, expenses and financial results on an accrual basis from the beginning of the year to the reporting date.
The graph of the main performance indicators of the enterprise is presented in (Fig. 2.3).
Rice. 2.3. Key performance indicators of Alta-Stroy LLC
2.2 Analysis of solvency and liquidity of Alta-Stroy LLC
An analysis of the financial condition allows you to establish the amount of working capital of a construction organization, profits and losses, the state of settlement and payment discipline.
Balance sheet data for 2008-2010 and income statement for 01.01.08 - 31.12.2010 are given in Appendices 1-4. B (Table 2.1). the performance indicators of the use of fixed assets of Alta-Stroy LLC are presented.
Table 2.1
Indicators of the effectiveness of the use of fixed assets "Alta-Stroy" for 2008-2010.
Indicators Year Deviation (+/-) Rate of change, % 2008 2009 2010 2009 dated 2008.2010 dated 2009.2009 by 2008.2010 by 20091. Average annual cost of fixed assets, thousand rubles 3766939874375262205-2348105.994.12. Volume of activity, thousand rubles 123014112055141348-109592929391.1126.13. Profit before tax, thousand rubles 26916170336402-9883-1063163.337.64. The average number of employees, people 615954-2-596.791.55. Labor productivity, thousand rubles/person 2016.61899.22617.6-117.4718.394.2137.86. Return on assets, rub./rub.3.32.83.8-0.51.086.1134.07. Capital return, % 71.4542.7217.06-0.3-0.359.839.98. Capital-labor ratio, thousand rubles/person617.5675.8694.958.319.1109.4102.8
According to the results of Table. Table 2.1 shows that, despite the decrease in the average annual cost of fixed assets in 2010 - by 5.9%, the volume of activity increased by more than 26%. This is due to more efficient use of enterprise resources. However, the company failed to improve profit indicators - there has been a significant decline for two years already.
The growth of capital productivity is visible - growth for 2010 amounted to 34%. However, the return on equity in 2010 decreased by almost 60%, which is a negative trend.
Important indicators are also indicators of the dynamics, composition and structure of the working capital of the enterprise (Table 2.2).
Table 2.2
Indicators of the dynamics, composition, structure of working capital "Alta-Stroy" for 2009-2010.
Indicators Cost of working capital, thousand rubles Structure of working capital, % 2009 2010 deviation, (+/-) rate of change, % 2009 2010 deviation, (+/-) working capital Means, including 153511978544434128.91001000 Zapasas614198233682160,040,049,69.6NA for acquired values48149211102.33.12.5-0,6,6,591,53041,53041,37,2-15155041ENTS -9.1Other assets030023002--15.215.2
During the reporting period, there is a significant increase in the company's working capital - by 28.9%. At the same time, there is also a significant decrease in accounts receivable - by 58.5% compared to the previous year - which is a positive trend and indicates the company's active work with debtors.
It is also necessary to analyze the process of formation of the company's financial results - they are presented in (Table 2.3).
Table 2.3
Formation of the financial results of Alta-Stroy for 2009-2010
IndicatorsYears Deviation, (+,-) Rate of change in the amount, % 2009 2010 продукции, работ, услуг9288782,911130778,71842062,9119,8Валовая прибыль1916817,13004121,31087337,1156,7Коммерческие расходы9680,91775712,61678957,3в 18 разПрибыль (убыток) от продаж1820016,2122848,7-5916-20,267,5Проценты к получению20,020,000 .00.0Other income500.03230.02730.00.0Other expenses10390.011950.01560.00.0 Non-operating income1390.12400.21010.3172.7 Non-operating expenses3190.352523.7493316.816 times Profit (loss) before taxation 10631-36,337.6 Deferred tax assets00,0630,0630.00.0 Deferred tax liabilities00,090,090.00.0 Current income tax 48194.332402.3-1579-5,467.2 Net profit (loss) for the reporting period 1221410.932162.3-8998- 30,726.3
From the data in Table. Table 2.3 shows that with revenue growth of 26.1%, gross profit increased by 57.9%, this is due to the optimization of production costs, namely, the search for new suppliers of materials and commodity values. This is a positive trend. At the same time, there is a significant increase in commercial expenses - 18 times - which indicates an inefficient management structure of the company. Also noteworthy is the 16-fold increase in non-operating expenses - they need to be reduced.
B (Table 2.4). comparative analytical balance sheet of Alta-Stroy is presented.
Table 2.4
Comparative analytical balance of Alta-Stroy for 2009-2010
Aggregate valuesAbsolute values, thousand rubles Shares, % of the total values, thousand rublesIn specific values ASSETS1. Non-current assets (F)455854330174.868.6-228495.02. Current assets (M) 153511978525.231.44434128.92.1. Inventory (Z) 395960316.59.62072152.32.2. Cash, settlements and other current assets (Ra)530550468.78.0-25995.1LIABILITIES1. Own funds (Q)506985339683.284.62698105.32. Borrowed funds (S)10238969016.815.4-54894.62.1. Long-term credits and loans (Kt)574257519.49.19100.22.2. Short-term loans and borrowings (Kt)449639397.46.2-55787.6
The comparative analytical balance of Alta-Stroy for 2010 showed that during the reporting period the company's assets increased by 2.15 million rubles. and this is a positive trend.
In the structure of total assets in the reporting period, there was an almost twofold predominance of non-current assets over current ones.
The increase in the value of current assets of the enterprise speaks, in turn, about the desire of the enterprise to expand the business.
Noteworthy is the decrease in borrowed capital in the composition of liabilities for the reporting period by 548 thousand rubles. Moreover, the decrease is associated primarily in the segment of short-term loans and borrowings. This trend is positive.
To assess the solvency of the enterprise, we further calculate the solvency ratios that allow us to assess the solvency of the enterprise in the short term (Table 2.5).
Table 2.5
Liquidity indicators of Alta-Stroy LLC for 2009-2010
Liquidity indicators At the beginning of the year At the end of the year Optimum value Absolute liquidity ratio 1,181.28> 0.2-0.7 Quick liquidity ratio-0.030.82> 0.8-1.0 Cover ratio 3,415.021<Кп<2
The absolute liquidity ratio shows what part of the company's short-term liabilities can be repaid at the expense of available cash. The optimal value Cal > 0.2 - 0.7. The higher its value, the greater the guarantee of debt repayment. During the reporting period, the absolute solvency of the enterprise has slightly improved (by 0.1).
The quick liquidity ratio shows what the company's ability to repay short-term liabilities using absolutely liquid funds and receivables. The optimal value of K bl > 0.8 - 1.0. The coefficient value was extremely negative at the beginning of the period, but by its end it reached the standard value (0.82).
The coverage ratio characterizes the extent to which all short-term liabilities of the enterprise are secured by its current assets. Optimal value 1< Кп < 2. Нижняя граница указывает, что оборотных средств достаточно, чтобы покрыть свои краткосрочные обязательства. Если же значение коэффициента ниже 1,0, то это означает, что предприятие безоговорочно неплатежеспособно. Превышение оборотных активов над краткосрочными обязательствами более чем в 2 раза нежелательно и свидетельствует о нерациональном вложении своих средств и неэффективном их использовании. Значение данного показателя, как на начало, так и на конец отчетного периода находится существенно выше нормы.
An assessment of the solvency of an enterprise for a period is an analysis of the financial and economic condition of an enterprise based on three important factors - income, property and financial resources. All these three components of solvency go directly through the stages of formation, distribution and use.
The income of an enterprise should be understood as the entire gross value added received by the enterprise in the reporting period from all types of activities (for example, production, construction, services), individual business units (projects, branches and representative offices), as well as areas and aspects of activity (main, investment and financial).
The property of the enterprise is economic assets, which are divided in form into assets and in content into capital. In this case, the property in form is divided into monetary and non-monetary components. This approach is explained by the fact that assets, first of all, should be distinguished by the form of solvency - monetary (only at the expense of cash, securities and their equivalents) and non-monetary (fixed assets, intangible assets, stocks, funds in settlements and other assets) , and not only by the velocity of circulation (long-term and current assets).
The debt ratio is the amount of debt divided by either equity or total assets.
When considering the liquidity of a firm in the long term, that is, its ability to meet its long-term obligations, we will not do without debt ratios.
One is found by dividing the firm's total debt (including its short-term accounts payable) by the cost of equity:
Kz \u003d 9690 / 53396 \u003d 0.18
In addition to the debt ratio, that is, the ratio of the total amount of accounts payable to equity, we can calculate another ratio that takes into account only the long-term capitalization of the company:
Kdkf = 5751 / (5751 + 53396) = 0.097
Evaluation of the effectiveness of the economic activity of an enterprise is a necessary condition for the competent adoption of managerial and entrepreneurial decisions.
At Alta-Stroy LLC we have:
E2008 = 12214 / 60936 = 20%
E2009 = 3216 / 63086 = 5.1%
Obviously, a significant decrease in the rate of return in Alta-Stroy LLC at the end of 2010 - it amounted to 14.9%.
The calculated values of the rate of return may vary depending on:
-capital structures;
-the level of forecast prices for products;
The volume of demand;
other factors.
The chosen criterion of production efficiency in the form of the rate of return on capital is used both to compare different options for the development of an enterprise, and to evaluate a single option by the market. In accordance with the accepted criterion, specific indicators of production efficiency are determined, reflecting the main characteristics of costs and results.
The period of return of capital investments (payback period) is the period of time that is necessary for the future profit of the enterprise to reach the value of the capital investments made. The payback period indicator characterizes the intensity of the return of the funds spent over a certain period of time after their investment:
financial stability liquidity solvency
where T is the payback period for capital investments, years;
P - net annual profit, net of taxes, but taking into account depreciation, rub.
In our case we have:
Т2009 = 63086 / 3216 = 19.6 years
Another equally well-known method for assessing cash income is the profitability method, which characterizes the amount of profit received depending on the volume of sales and the value of the company's assets. The economic methods of regulating the profitability of an enterprise include the return on capital, the profitability of products, the return on assets (capital productivity).
On the basis of profit, relative indicators are calculated:
overall profitability (Rtot) is calculated as the ratio of profit to the average annual cost of fixed and normalized working capital assets:
where Pb - balance sheet profit;
OS and About - the average annual cost of fixed and working capital.
In our case, Рtot = 3216 / (37526 - 19785) = 0.18
return on assets (calculations see in Table 2.1):
where Q is the output.
capital intensity:
Turnover ratios - a group of financial indicators that characterize the level of business activity of the company in both the short and long term (Table 2.6).
Table 2.6
Turnover ratios of Alta-Stroy for 2008-2010
IndicatorsYearDeviation (+/-)Change rate, %2008200920102009 dated 2008.2010 dated 2009.2009 by 2008.2010 by 20091. The average annual cost of working capital, tr.3766939874375262205-2348105.994.12. Scope of activity, t.r. Turnover ratio, times 3.32.83.8-0.51.086.1134.04. Duration of one revolution, days111.8129.996.918.1-33.0116.274.6
Undoubtedly, a significant increase in the turnover ratio is a positive trend - from 3.3 in 2007 to to 3.8 in 2010, i.e. by 34%, and consequently a reduction in the duration of the turnover.
The competitiveness of a firm is related to the competitiveness of its products. An increase in sales, as a rule, leads to an increase in profits, an increase in profitability indicators. The loading of production capacities, the increase in the portfolio of orders, the increase in capital investments in production indicate an increase in the competitiveness of the enterprise.
2.3 Assessment of the financial stability of Alta-Stroy LLC
Let us further consider the financial stability ratios, which are relative indicators calculated on the basis of absolute indicators contained in the balance sheet, and, if necessary, from other sources of information (Table 2.7).
Table 2.7
Alta-Stroy Financial Stability Ratios
Name of coefficients At the beginning of 2010 At the end of 2010<1Коэффициент обеспеченности запасов и затрат собственными средствами (К об.зап.)1,340,84-0,50>0.6-0.8 Agility coefficient (K m) 0.100.190.09> 0.2-0.5 Financing coefficient (financial dependence) (Kf) 1.201.18-0.02> 1 Long-term investment security coefficient (Kodi) 0.800.73- 0.08>1
The autonomy coefficient (K aut) is the ratio of the company's own capital to the balance sheet total. The optimal value of K aut > 0.5.
With this value, all the obligations of the enterprise can be covered at the expense of the enterprise's own funds. The growth of the coefficient means the strengthening of the financial independence of the enterprise. In our case, the calculation of the autonomy coefficient showed that the enterprise, both at the beginning of the year and at the end of the reporting period, was provided with its own funds within the norm, which indicates sufficient financial independence of the enterprise.
The ratio of borrowed and own funds shows the share of borrowed funds in the sources of financing of the enterprise. The optimal value of K s / s< 1. Чем меньше его значение, тем оптимальнее состав активов предприятия. В нашем случае значения коэффициента на начало отчетного периода и на его конец соответствовало допустимой норме. К концу отчетного периода коэффициент незначительно уменьшился. Эта тенденция положительная.
The coefficient of provision of reserves and costs with own funds (K ob.zap.) shows the ability of the enterprise to self-finance economic activity, to expanded reproduction. Optimal value To ob.zap. > 0.6 -0.8. The higher its value, the greater the degree of financial stability of the enterprise. The value of the coefficient for the reporting year decreased and almost reached the limit of the standard value.
The maneuverability coefficient (K m) is the ratio of own funds invested in current assets to all current assets. It shows what share is occupied by equity invested in working capital in the total equity, i.е. what part of the company's capital is invested in the most mobile assets (is in a mobile form). The optimal value of Km > 0.2-0.5; the closer the value is to 0.5, the more room for financial maneuvering. As of the last reporting date, the maneuverability coefficient almost reached the limit of the standard value (0.19).
The coefficient of financing (financial dependence) (Kf) is the ratio of the company's own capital to its borrowed capital. It shows what part of the production and economic activity is financed by own funds. The optimal value of Kf > 1. The calculation of the funding ratio showed a slight decrease in this indicator by the end of the reporting period (by 0.02).
The long-term investment coverage ratio allows you to control the company's compliance with an important rule of financial management: fixed assets and a part of working capital should be financed from equity.
For a financially stable enterprise, the security ratio for long-term investments should be greater than 1. At the same time, a positive value of net working capital is observed.
In our case, we have a significant decrease in this indicator for the reporting year, which indicates that all working capital and part of permanent assets are financed by borrowed funds. In this case, the financial position of the organization is unstable and there is a serious threat of problems with the repayment of borrowed funds.
The ratio of long-term investment security, which does not reach 1, may be an indicator of a risky investment policy. In this case, irrational investment policy means that the scale of investment exceeds the financial capabilities of the enterprise.
Thus, based on the general analysis of the enterprise, carried out in Chapter 2, we can conclude that Alta-Stroy LLC is characterized by high financial stability, operates profitably, and has high liquidity ratios.
2.4 Organization of ensuring the economic and financial security of the enterprise
The economic security of an enterprise (firm, organization) is understood as the protection of scientific, technical, technological, production and human resources from external and internal economic threats and the ability to reproduce with the effective use of all its resources.
The level of economic security of Alta-Stroy LLC depends primarily on the ability of the management to anticipate and prevent possible threats, as well as quickly resolve the problems that have arisen.
Among the reasons that destabilize the state of economic security at Alta-Stroy LLC, the following can be distinguished:
subjective, caused by the inefficient work of the enterprise or its management, for example, low competitiveness, and, consequently, the lack of demand for products on the market, the actions of certain business entities, the instability of the financial situation of the enterprise;
objective, arising through no fault of a particular enterprise, for example: the inability of the state to pay for products for its needs, high inflation, force majeure, and others.
The functional components of the economic security of Alta-Stroy LLC consist of the following elements:
technical and technological component;
intellectual and personnel;
financial;
political and legal;
ecological.
financial component. It is the most important, since financial stability indicates the security of the enterprise with its own financial resources, the level of their use, and the direction of placement. Financial stability has a close relationship with the efficiency of production, as well as with the final results of the enterprise. The financial stability of Alta-Stroy LLC was discussed in more detail earlier.
The reasons for the loss of financial stability by Alta-Stroy LLC may be a decrease in production volumes, unprofitable activities, high production costs, inefficient planning and asset management, force majeure.
To maintain stability at the enterprise, a financial strategy is used, that is, planning specific tasks and ways to implement them in the process of financial and economic activity of the enterprise. The following strategic goals can be distinguished: improvement of its products, cost reduction, achievement of production efficiency at the lowest cost, ensuring a sufficient level of profitability.
Intellectual and personnel component. In modern economic conditions, the level of economic security largely depends on the qualifications and professionalism of personnel. Therefore, a flexible management structure has been created at Alta-Stroy LLC, a system for selecting, hiring, training and motivating employees has been organized.
The management personnel of Alta-Stroy LLC are required to constantly analyze the state of economic security, and they are also trained to act in a crisis situation.
Technical and technological component. While ensuring economic security, the management constantly analyzes whether the technologies used at the enterprise meet modern world standards, what technologies are used at other enterprises that manufacture similar products; searches for internal reserves for improving the technologies used, monitors new scientific developments.
Political and legal component. The process of protection is carried out according to a typical scheme:
-analysis of threats of negative influences;
-assessment of the current level of provision;
-planning a set of measures to increase this level.
Negative influences can be divided into internal and external. When analyzing internal influence, it is taken into account how sufficient the qualification level of legal service employees is, at what level legal support is financed.
With a negative external influence, the causes of instability can be political (military conflicts, economic and political blockades, etc.) and legislative and legal.
information component. An organization or an enterprise should include certain services that would be engaged in the accumulation and protection of information. The purpose of these services is to accumulate all the necessary information regarding the activities of a business entity (information about all types of markets, the necessary technical information, about trends in the development of the national and world economy). After accumulation, the obtained data should be analyzed, and the result of this analysis should be a forecast of trends in the development of scientific, technical, economic and political processes in the enterprise.
The enterprise should organize a strict system of access to information, which would include the following activities:
providing a password entry into the database system: registering, assigning and changing passwords;
determination of access rights for groups of persons and individuals, that is, the definition of permissible operations on data;
data protection testing;
fixing attempts of unauthorized access to information;
investigating emerging cases of data protection breaches and taking measures to prevent them.
However, at present, these areas have not been developed at Alta-Stroy LLC, which makes it unprotected in terms of information security.
After analyzing all the functional components, we can conclude that in order to ensure the economic security of Alta-Stroy LLC from the influence of subjective and objective reasons, management needs to make decisions at the same speed with which negative changes occur and be able to anticipate them.
2.5 Information and software tools used in the activities of the enterprise when performing basic operations
In the context of the financial crisis, almost all construction organizations have an increased need for cash flow planning, budgeting and financial analysis of performance.
To maintain accounting and tax records, as well as to solve the problems of the financial services of Alta-Stroy LLC, a standard application solution "1C: Construction Contractor 4.0 Financial Management" is used.
This software product was developed on the basis of the 1C:Accounting 8 solution on the 1C:Enterprise 8 platform and supports all of its functionality. Let us further consider the possibilities of the program in terms of budgeting and financial planning.
The program allows you to automate the planning of all types of budgets, as well as control over their execution. For planning budgets by financial responsibility centers, it is possible to form the financial structure of the organization. Planning of budgets of the contracting construction organization is carried out in the context of construction objects. The formation of its financial result of activities for construction projects is carried out taking into account all indirect costs. Planning budgets and creating operational plans for an organization can be done in several scenarios.
The program implements operational cash flow management, including planning of financial flows and budget control of cash flow. Formation of a payment calendar and analysis of its execution on-line are provided. Planning of financial resources of a construction organization is managed by setting limits on budgets and controlled indicators.
For the financial analysis of the activities of the contracting construction organization, the analysis of deviations and the calculation of financial ratios are used.
Users of the software product are employees of the accounting department, the financial department, the logistics department, as well as employees of the organization's warehouses, including on-site warehouses. At present, the application solution "1C: Construction Contractor 4.0 Financial Management" is successfully used in more than 800 construction organizations.
For operational planning of operations for the receipt and expenditure of funds, the document "Cash flow plan" is used. You can plan the movement of funds both by financial responsibility centers and by construction projects. When working with a document, automatic control of the compliance of the operation with the budget in force in this period is performed. The actual execution of cash flow transactions is also recorded using this document.
The "Payment calendar" report is generated on the basis of the "Cash flow plan" documents. Depending on the selected settings, the report may contain data on both planned and actually executed cash transactions, as well as their balances at the beginning and end of the period. The report provides for grouping by cash flow items and selection by analytics elements.
Scenario planning implemented in the program ensures the formation of several variants of the "Payment calendar". To compare different versions of the calendar and analyze deviations, the report "Comparison of versions of the payment calendar" is used.
As a result of the correct application of cash flow planning tools, cash gaps can be avoided. This opportunity is especially relevant in times of crisis. A fairly simple and understandable interface of documents, directories and reports allows an accountant who is not a budgeting specialist to work with them.
The financial department of the construction company "Alta-Stroy" in its work can operate with several budgets. This can be, for example, the budget of orders for construction and installation works (CW) and the budget for the implementation of construction and installation work, the budget for the cost of materials, the budget for the cost of wages for production workers and the budget for management costs, the budget for supplies and needs, the budget for the organization and maintenance of construction , the budget of capital investments and investments, etc.
To enter planned data on budgets into the system, the document "Budget plan" is used. Setting a set of control constraints that allow you to control the process of planning and budget execution is carried out using the "Plan of budget limits" document. With the help of this document, you can, for example, set limits on expenses for an object in accordance with the approved estimate, determine targets that characterize the financial result for an object or by a center of financial responsibility, set both upper and lower limits for any budget item, taking into account analytical measurements used for this article, etc.
A summary of budgeting by item is presented in the "Budget Report". To view and analyze the execution of budgeting limits when forming budgets, you can use the "Report on limits". To view and analyze two versions at the same time, the "Comparison of budget versions" report is intended.
Using budget planning tools and tools for analyzing budget indicators, specialists of the financial department of Alta-Stroy LLC can correctly predict the main financial indicators of the organization, prevent losses and assess risks. Financial reports, unlike accounting ones, are more understandable to management and, in the absence of a financial director in the organization, greatly simplify the work of the chief accountant in providing the necessary information to the head.
The report "Financial analysis" is intended for the formation of consolidated analytical reports and the calculation of analytical indicators of both planned and actual results of the organization's activities.
This report allows you to analyze the balance sheet with aggregated data grouped by the degree of liquidity (assets) and the degree of urgency of payment (liabilities), calculate financial analytical ratios based on balance sheet indicators that reflect the financial stability, as well as the liquidity and solvency of the organization. Using this report, you can also analyze indicators that characterize the efficiency of the construction organization in several areas - the efficiency of the use of fixed assets, material resources and labor resources. It provides for the formation of a profit and loss statement, as well as the calculation of financial indicators that characterize the profitability of activities, cash turnover, business activity and the financial cycle.
Financial analysis tools are supplemented by the "Factor analysis" report. This report calculates the return on equity and analyzes the factors influencing it. The analytical model of return on equity allows you to compare several options for the development of activities and choose the most optimal option.
For an enlarged comparative analysis of data on the planned and actual volume of costs for construction objects, the report "Comparison of indicators for construction objects" is used. Comparison of data in the report is performed in the context of cost items.
Thus, by implementing the multifunctional solution "1C: Construction Contractor 4.0. Financial Management", Alta-Stroy LLC received in one package not only accounting and tax accounting mechanisms, but also powerful financial analysis tools, tools for budgeting and managing financial flows.
1 Assessment of the probability of bankruptcy of Alta-Stroy LLC
Diagnostics of insolvency (bankruptcy) of an enterprise requires fundamental diagnostics:
-the financial condition of the enterprise;
-market situation;
-detection of symptoms of causes and main factors contributing to the development of a crisis situation;
-forecasting the scale of the crisis and developing measures for anti-crisis management.
One of the most striking branches of analysis is the forecasting of the financial condition of the organization.
From the standpoint of financial management, bankruptcy characterizes the realization of catastrophic risks of an enterprise in the course of its financial activity, as a result of which it is unable to meet the requirements of creditors on time and fulfill obligations to the budget.
Although the bankruptcy of an enterprise is a legal fact (only an arbitration court can recognize the fact of bankruptcy of an enterprise), it is based mainly on financial reasons. The main of these reasons include:
A serious violation of the financial stability of the enterprise, preventing the normal implementation of its economic activities. The realization of this risk is characterized by the excess of the financial liabilities of the enterprise over its assets. 2. Significant imbalance over a relatively long period of time in the volume of its cash flows. The realization of this risk is characterized by a prolonged excess of negative cash flow over positive and the absence of prospects for a reversal of this negative trend.
Prolonged insolvency of the enterprise, caused by the low liquidity of its assets. The realization of this risk is characterized by a significant excess of the urgent financial obligations of the enterprise over the amount of the balance of its cash and assets in a highly liquid form, which is of a chronic nature.
The nature of the reasons shows that the financial insolvency of the enterprise, which determines the legal fact of its bankruptcy, is largely the result of inefficient financial management.
There are two main approaches to predicting bankruptcy. The first - quantitative - is based on financial data and includes the operation of some coefficients that are gaining more and more popularity: the Altman Z-coefficient (USA), the Tuffler coefficient (UK), the Beaver coefficient, the R-account model (Russia) and others, and is also used when assessing such indicators of the probability of bankruptcy as the price of the enterprise, the solvency recovery ratio, the financing ratio of hard-to-sell assets. The second - qualitative - proceeds from data on bankrupt companies and compares them with the corresponding data of the company under study (Argenti's A-score, Scone's method). The method of integral scoring, used for a generalized assessment of the financial stability of an enterprise, carries the features of both a quantitative and a qualitative approach.
To determine the probability of bankruptcy of Alta-Stroy LLC, we will use the D. Duran credit scoring model.
The credit scoring technique was first proposed by the American economist D. Duran in the early 1940s. The essence of this technique lies in the classification of enterprises according to the degree of risk based on the actual level of financial stability indicators and the rating of each indicator, expressed in points based on expert assessments. The main scoring model is used with three balance sheet indicators, which allows to classify enterprises into classes: class - enterprises with a good margin of financial stability, allowing you to be sure of the return of borrowed funds; class - enterprises that demonstrate some degree of debt risk, but are not yet considered risky ; class - troubled enterprises; class - enterprises with a high risk of bankruptcy even after taking measures for financial recovery. Lenders risk losing their funds and interest; class - enterprises of the highest risk, practically insolvent.
Table 3.1
Grouping enterprises into classes according to the level of solvency
Indicator Class boundaries according to the criteria Class I class 11 class 111 class IV class V class Return on total capital, % 30% and above (50 points) from 29.9 to 20% (from 49.9 to 35) from 19.9 to 10% (from 34.9 to 20 points) from 9.9 to 1% (from 19.9 to 5) less than 1% (0 points) Current liquidity ratio 2.0 and above (30 points) from 1.99 to 1.7 (from 29.9 to 20 ) from 1.69 to 1.4 (from 19.9 to 10 points) from 1.39 to 1.1 (9.9 - 1)1 and below (0 points) Financial Independence Ratio 0.7 and above (20 points ) from 0.69 to 0.45 (from 19.9 to 10) from 0.44 to 0.3 (from 9.9 to 5 points) from 0.29 to 0.20 (5 - 1) less than 0, 2 (0 points) Class boundaries100 points and above from 99 to 65 points from 64 to 35 points from 34 to 6 points0 points
According to these criteria, we determine which class the analyzed enterprise belongs to (Table 3.2):
return on equity is calculated as the ratio of net profit to the company's equity capital;
the coefficient of financial independence is calculated as the ratio of equity capital to the total currency of the net balance.
Table 3.2
General assessment of financial stability
Indicator 2009 2010 actual level points class actual level points class
As can be seen from Table 3.2, according to the degree of financial risk calculated using this methodology, Alta-Stroy LLC in 2009 could be safely attributed to a class 1 enterprise, while in 2010 its financial position worsened and the company moved to class 2 .
And since enterprises that demonstrate a certain degree of debt risk, but are not yet considered risky, already cause certain concerns among investors and counterparties, it is necessary to take measures to improve the financial condition of Alta-Stroy LLC to bring it into category 1.
3.2 Measures to increase income at Alta-Stroy LLC
To improve the economic activity of a construction organization, which is Alta-Stroy LLC, special attention should be paid to scientific and technological progress:
transition to new construction technologies and their wide development;
introduction of new technology into production;
use of new and progressive construction materials;
creation of organizational prerequisites, economic and social motivations for the creative work of designers, engineers and workers;
widely apply progressive forms of scientific organization of labor in production, improve its rationing, achieve a growth in the culture of production, strengthening order and discipline, stability of labor collectives, etc.
This technology makes it possible to increase the area of premises sold by 16%, and, consequently, the proceeds from construction and installation works (EcEf1).
One of the most important factors in intensifying and increasing the efficiency of production is the mode of economy. Resource saving should become a decisive source of meeting the growing demand for fuel, energy and materials, it is necessary to make better use of the fixed assets of the enterprise (improving the structure of fixed assets, quickly mastering newly commissioned capacities, etc.).
Thus, the transition to the above technology makes it possible to reduce the consumption of reinforced concrete and reinforced materials by 10% (EkEf2).
An important place in the efficiency of production is occupied by organizational and economic factors, including management. First of all, this is the development and improvement of rational forms of organization of production - concentration, specialization, cooperation and combination.
The main measures are as follows:
-increasing the level of mechanization and automation of labor-intensive production processes, the use of modern high-performance equipment;
-improving the organization of jobs;
optimization of the pace of work;
optimization of the regime of work and rest;
improvement of transport services for jobs associated with heavy objects of labor;
scientifically based establishment of equipment maintenance standards and maintenance time standards, taking into account the amount of information that an employee can correctly perceive, process and make a timely and correct decision;
alternation of work requiring the participation of different analyzers (hearing, vision, touch, etc.);
alternation of work requiring predominantly mental loads with physical work;
alternation of works of varying complexity and intensity;
optimization of work and rest regimes;
prevention and reduction of the monotony of labor by increasing the content of labor;
rhythmization of labor (work according to the schedule with a load reduced by 10-15% during the first and last hours of the work shift);
computerization of computational and analytical work, the widespread use of personal computers in the practice of production management, the organization of computer data banks on various aspects of production activities, and others.
The above methods will increase revenue by 5-10% at the first stages of implementation (EcEf3).
A special place in the intensification of the economy, reducing the specific consumption of resources belongs to improving the quality of products.
It is necessary to significantly expand the possibilities of action of all factors for increasing the efficiency of production in the conditions of the formation of market relations; carry out structural restructuring of the national economy, reorient it to the consumer; modernize construction on the basis of high technologies; to overcome the backlog from the world scientific and technical level; etc.
3.3 Calculation of the effectiveness of the proposed measures
Investment analysis is the study of how an investment will work effectively and how suitable it is for a given investor. Investment analysis is key to any normal portfolio management strategy. Investors who, for whatever reason, are unable to perform their own investment analysis can seek professional advice from a financial advisor.
Investment analysis is a look at previous investment decisions and aims to make an investment decision based on past experience, taking into account all the miscalculations that occurred during the implementation of past investments. The key factors for analysis are the price of entry into the investment, the expected investment horizon and the reasons why it is necessary to make a decision at this particular time.
For example, when conducting an investment analysis of an existing investment fund, the investor must first consider the fund's performance against its benchmark. The investor can also compare the selected fund's performance with similar funds, its operating cost ratio, management stability, sector-specific affinity, investment style and asset allocation. When conducting an investment analysis, it is always necessary to take investment objectives into account. Don't fit everyone into the same analysis template, because the highest returns, regardless of risk, are not always the goal of an investment.
For any novice investor, investment analysis is very important. Careful research into past decisions and analysis of mistakes and successes will help fine-tune your investment strategy. Many investors do not keep a record of why they made certain investments, let alone analyze why they worked or failed. For example, in a certain situation, an investor could make the right decision, but extraordinary events could lead to losses. If the reasons are not analyzed, then such an investor is likely to avoid similar decisions in the future, which will not give him the opportunity to make a profit.
The overall economic effect of the measures proposed in subparagraph 2 of this chapter will be:
EkEf1 \u003d Gross Profit x 0.16 \u003d 4806.6 thousand rubles / year
EkEf2 \u003d Cost x 0.10 \u003d 11,130 thousand rubles / year
EcEf3 \u003d 141348 x 0.1 \u003d 14135 thousand rubles / year
EkEf \u003d EkEf1 + EkEf2 + EkEf3 \u003d 4806.6 + 11130 + 14135 \u003d 30071.6 thousand rubles / year
Thus, from the analysis of the measures proposed in Chapter 3 of this work, we can conclude that the company not only has a steady trend towards growth in profits and revenues, but also an untapped potential to improve its own performance. Proper use of this potential will significantly improve the work of Alta-Stroy LLC.
Conclusion
With the transition to market relations, entrepreneurs and business leaders face many questions:
how to rationally organize the financial activities of the enterprise for its further development;
how to improve the efficiency of financial resource management;
how well the company managed financial resources during a certain period.
These and many other vital questions can be answered by an objective financial analysis, since its results characterize the financial activity of an enterprise over the past period, identify negative aspects, and determine the concept of development in the future.
An analysis of the financial condition determines the competitiveness of the enterprise, its potential in business cooperation, assesses the extent to which the economic interests of the enterprise itself and its partners in financial and other relations are guaranteed. Financial analysis data is used to predict possible financial results, economic profitability, based on the actual conditions of economic activity and the availability of own and borrowed resources; development of specific measures aimed at more efficient use of financial resources and strengthening the financial condition of the enterprise.
In the course of writing this work, material was presented describing the essence, methods, information base of financial analysis, and a methodology for calculating analysis indicators using real data from the Alta-Stroy LLC enterprise was presented. Based on a study of the activities of Alta-Stroy LLC for 2008-2010. developed a real picture of the financial condition of the enterprise and its change over the course of three years.
Analyzing the activities of Alta-Stroy Limited Liability Company for 2008-2010, it should be noted that this enterprise systematically and rhythmically pursued its economic policy in the field of implementation of initiated contract projects.
The stability of the financial condition of Alta-Stroy LLC is characterized as normal, which guarantees the solvency of the enterprise.
In the first chapter of the work, the theoretical and methodological foundations of the analysis of the financial stability of an enterprise, the essence and importance of financial stability in the activities of enterprises were considered, the main approaches to assessing financial stability were studied, and the main legal documents regulating the financial stability of an enterprise were given.
The second chapter is devoted to the analysis of the financial stability of Alta-Stroy LLC, the economic characteristics of the enterprise are given, an analysis of its solvency and an assessment of financial stability are carried out. The main indicators of financial stability calculated for Alta-Stroy LLC indicate a high solvency of the enterprise.
In the third chapter of the work, proposals were made to improve the financial stability of Alta-Stroy LLC, the probability of bankruptcy was assessed, measures were proposed to increase the profitability of the enterprise, and their effectiveness was calculated. Thus, the use of prefabricated-monolithic frame technology, the introduction of resource saving and the improvement of organizational and economic factors will achieve an economic effect of more than 30 million rubles. per year, and, accordingly, increase the financial stability of the enterprise.
On the basis of the materials of the analysis carried out in the work, recommendations are given for optimizing the operational cash flow and measures are proposed to increase the income of the enterprise.
To improve the financial stability of an enterprise, it is necessary to optimize the structure of liabilities, stability can be restored by a reasonable reduction in reserves and costs, or their effective use.
One of the ways to search for reserves to reduce production costs and increase profits is the selection and replacement of inefficient, costly equipment.
List of sources used
I. regulatory framework
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II. BOOKS, MONOGRAPHS, TEXTBOOKS AND TEACHING AIDS
5.Regulations on accounting "Accounting statements of the organization" (PBU 4/99) // All provisions on accounting, 2004. - P. 32-44
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III. PERIODICALS AND ARTICLES
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IV. INTERNET SITES
41.www.iteam.ru - Internet portal "Corporate Governance Technologies", articles by A. Chernov.
Attachment 1
Balance sheet and income statement for 2010
as of January 01, 2011 Codes Form No. 1 according to OKUD0710001 Date (year, month, day) OrganizationAlta-Stroy LLC according to OKPO8585678
ASSET Indicator code At the beginning of the reporting year At the end of the reporting period 1234I. Внеоборотные активыОсновные средства1203987437526Долгосрочные финансовые вложения1401010Отложенные налоговые активы14557015765Итого по разделу I1904558543301II.Оборотные активыЗапасы21061419823в том числе: сырье, материалы и другие аналогичные ценности21139596031готовая продукция и товары для перепродажи2144541294расходы будущих периодов21617282498Налог на добавленную стоимость по приобретенным ценностям220481492Дебиторская задолженность (платежи по которой ожидаются в течение 12 месяцев после отчетной даты) 24034241422 including: buyers and customers241535767 Cash26053055046Other current assets2703002Total for Section II2901535119785BALANCE 3006093663086
LIABILITY Line code At the beginning of the reporting year At the end of the reporting period 1234III. Capital and reservesAuthorized capital4109500Additional capital4205050450476Retained earnings (uncovered loss)4701852420Total for Section III4905069853396IV. Long-term liabilitiesDeferred tax liabilities51557425751Total for section IV59057425751V. Short-term liabilitiesAccounts payable62044963939 including: suppliers and contractors62120612183debt to the organization's personnel6221059-tax debt624609662other creditors6257671094Total under section V69044963939BALANCE70060936633939
Supervisor
Chief Accountant
Annex 2
Profit and loss statement for 2010
CODES Form No. 1 according to OKUD0710002 Date (year, month, day) Organization Alta-Stroy LLC according to OKPO 03286282 Taxpayer identification number TIN Type of activity Construction according to OKVEDOR organizational and legal formform of ownership according to OKOPF/OKFO420K0Pf, 0KfS privateUnit of measure thous. RUB by OKEI384 Location (address)
Indicator For the reporting period For the same period of the previous year name code 1234 Income and expenses from ordinary activities Proceeds (net) from the sale of goods, products, works, services (less value added tax, excises and similar obligatory payments) 010141348112055 Cost of goods sold, products, works, services020 (111307)(92887)Валовая прибыль0293004119168Коммерческие расходы030(17757)(968)Прибыль (убыток) от продаж0501228418200Прочие доходы и расходы Проценты к получению06022Прочие операционные доходы09032350Прочие операционные расходы100(1195)(1039)Внереализационные доходы120240139Внереализационные расходы130(5252)(319)Прибыль (убыток) before tax140640217033Deferred tax assets14163-Deferred tax liabilities142(9)-Current income tax150(3240)(4819)Net profit (loss) of the reporting period1S0321612214FOR REFERENCE: Permanent tax liabilities (assets)2001687-
Supervisor
Chief Accountant
Annex 3
Balance sheet and income statement for 2009
as of January 01, 2010 Codes Form No. 1 according to OKUD0710001 Date (year, month, day) Organization Alta-Stroy LLC according to OKPO8585678 Identification number of the taxpayer TIN Type of activity according to OKVEDO Organizational and legal form / form of ownership limited liability company / private according to OKOPF / OKFS Unit of measurement: thousand rubles / million. rub. (cross out as needed) according to OKEI384/385 Location (address) Date of approval Date of dispatch (acceptance)
ASSET Indicator code At the beginning of the reporting year At the end of the reporting period 1234I. Внеоборотные активыОсновные средства1203766939874Долгосрочные финансовые вложения1401010Отложенные налоговые активы14556815701Итого по разделу I1904336045585II.Оборотные активыЗапасы21058706141в том числе: сырье, материалы и другие аналогичные ценности21137593959готовая продукция и товары для перепродажи214410454расходы будущих периодов21617011728Налог на добавленную стоимость по приобретенным ценностям220432481Дебиторская задолженность (платежи по которой ожидаются в течение 12 месяцев после отчетной даты) 24031263424 including: buyers and customers241506535 Cash26041025305Other current assets270Total for Section II2901353015351BALANCE 3005689060936
LIABILITY Line code At the beginning of the reporting year At the end of the reporting period 1234III. Capital and reservesAuthorized capital41099Additional capital4201587150504Retained earnings (uncovered loss)470210185Total for Section III4904609050698IV. Long-term liabilitiesDeferred tax liabilities51570435742Total for section IV59070435742V. Current liabilitiesAccounts payable62037574496 including: suppliers and contractors62115872061debt to the organization's personnel6229831059tax and duty debt624518609other creditors625669767Total under section V69037574496BALANCE7009366890
Supervisor
Chief Accountant
Appendix 4
Profit and loss statement for 2009
CODES Form No. 1 according to OKUD0710002 Date (year, month, day) 20031231 Organization Alta-Stroy LLC according to OKPO 03286282 Taxpayer identification number TIN Type of activity Construction according to OKVEDOR legal form of ownership according to OKOPF / OKFO 420K0Pf, 0KfS private Unit of measurement thous. RUB by OKEI384 Location (address)
Indicator For the reporting period For the same period of the previous year Name code 1234 Income and expenses from ordinary activities Proceeds (net) from the sale of goods, products, works, services (less value added tax, excises and similar obligatory payments) 010112055123014 Cost of goods sold, products, works, services020 (92887)(93587)Валовая прибыль0291916829427Коммерческие расходы030(968)(1102)Прибыль (убыток) от продаж0501820028325Прочие доходы и расходы Проценты к получению06023Прочие операционные доходы0905055Прочие операционные расходы100(1039)(1201)Внереализационные доходы120139151Внереализационные расходы130(319)(411)Прибыль (убыток) before tax1401703326916Deferred tax assets141--Deferred tax liabilities142--Current income tax150(4819)(6591)Net profit (loss) of the reporting period1S01221420325FOR REFERENCE: Permanent tax liabilities (assets)200--
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Introduction
1. Theoretical foundations for analyzing and ensuring the financial stability of a commercial bank
1.1 Characteristics of the financial stability of a commercial bank
1.2 Methods for assessing the financial stability of a bank
1.3 Factors affecting the financial stability of the bank
2. Analysis of the financial stability of Sberbank OJSC FOR 2011-2013
2.1 General characteristics of Sberbank OJSC
2.2 Assessment of the financial condition of Sberbank OJSC for 2011-2013
2.3 Liquidity analysis of Sberbank of Russia for 2011-2013
Conclusion
Introduction
The financial stability of the activities of a commercial bank occupies a special place in economic analysis. The most significant indicators of the bank's activity are liquidity and solvency. The concept of "liquidity" means the ability to timely and fully ensure the fulfillment of one's debt, as well as financial obligations to counterparties, which is determined by the presence of sufficient equity capital of the bank, an increase in funds for assets and liabilities. Thus, if the bank is not liquid, the license is revoked by the Central Bank of the Russian Federation. This is the most common reason why most banks go bankrupt and go out of business. This is what influences the fact that banks tend to take a more serious approach to assessing liquidity and solvency.
In order to carry out operations related to raising funds and placing them in the conditions of market uncertainty of future demand and receipts for a certain period, the bank needs funds in their liquid form, i.e. such assets that could be easily and quickly converted into cash money with little or no risk of loss.
Thus, the liquidity of a commercial bank is the ability to use its assets as cash or quickly turn them into cash. A bank is considered liquid if the amounts of its cash and other liquid assets are sufficient for the timely repayment of debt and financial obligations. In addition, a liquid reserve is necessary for making profitable deals on a loan or investment; to compensate for seasonal and unforeseen fluctuations in demand for credit, to replenish funds in the event of an unexpected withdrawal of deposits, etc.
The Central Bank of the Russian Federation takes this issue very seriously, because it controls the activities of commercial banks. To control liquidity and solvency, some liquidity ratios were created. This is what determines the relevance of this work.
The degree of knowledge of the problem
The purpose of the thesis is to develop measures to improve the financial stability of the bank.
To achieve this goal, in the thesis it is necessary to solve the following tasks:
To reveal the concepts of financial stability of a commercial bank;
Analyze methods for assessing the financial stability of a bank;
Give an assessment of the financial condition of Sberbank OJSC for 2011-2013;
Conduct an analysis of the financial stability and liquidity of Sberbank of Russia OJSC;
Determine the economic effect of the proposed activities.
The object of research work - JSC "Sberbank of Russia".
The subject of the study is the financial condition of Sberbank of Russia OJSC, the development and implementation of its activities, and the improvement of its financial condition.
Research methods - as a result of the research, methods of comparison, coefficient were used.
The practical significance of the thesis lies in the formulation of the prospects for the development of the financial stability of Sberbank of Russia OJSC.
The structure of the thesis consists of an introduction, three chapters, a conclusion, a list of references and applications.
The first chapter of the thesis provides the theoretical foundations for analyzing and ensuring the financial stability of a commercial bank, and also gives the basic concepts and methods for assessing sustainability analysis.
In the second chapter, on the example of a branch of Sberbank of Russia, an analysis of financial stability is given. The general characteristics of JSC "Sberbank of Russia" and an assessment of its financial condition are given.
The third chapter of the thesis deals with the main problems and ways to improve the efficiency of the financial stability of Sberbank of Russia OJSC.
Thus, we will consider the theoretical foundations of the analysis and ensuring the financial stability of a commercial bank, which highlight the methods of assessment and factors affecting the financial stability of the bank.
1. Theoretical foundations for analyzing and ensuring the financial stability of a commercial bank
1.1 Characteristics of the financial stability of a commercial bank
The most important characteristic of the financial activity of a commercial bank in a market economy is financial stability. In the activities of a commercial bank, one of the significant problems is its provision. Thus, when a commercial bank is financially stable, it has competitive advantages over other banks. Also, a bank that is financially stable, creates an outwardly favorable environment, does not conflict with the state and society, pays taxes to funds, wages to employees in a timely manner, and returns borrowed funds to its creditors.
It can be said that the financial stability of the bank is financial independence from the changing market conditions, it is independence in pursuing policies, it is also the basis for stable relationships with customers and the basis for activities and its continuous expansion. So, we can say that financial stability expresses the economic stability of a commercial bank in the relevant financial indicators.
Today in Russia there are more and more questions about the financial stability of the banking system and banks - its main elements. The significance of the problem of assessing the financial stability of banks is due to the huge role of the banking system in the functioning of the country's economy, its financial system, the state and society as a whole Lavrushina, OI Banking system in the modern economy: textbook. -2nd ed., 2012 - S. 368.
The financial stability of a single credit institution is the basis for the stability of the entire banking system, and is an important task for its development. The stability of banking activity is manifested in the process of issuing cash into circulation, the accumulation of temporarily free funds of economic entities, and the redistribution of accumulated resources in cash and non-cash forms. The sustainability of banking activity is the sustainability of the development of money circulation, banking services provided in cash. Individuals and legal entities, other banks and financial institutions, and the state are interested in the stable operation of the bank. The functioning of the bank is of public importance, and therefore, its sustainability is determined not only by the system of financial indicators, but also by the compliance of the bank's activities with the interests of society. Consequently, the sustainable activity of the bank as a public institution is its development in accordance with public interests. one
Several criteria can be used to consider the stability of the banking system. In accordance with them, the types of stability of the banking system are distinguished:
Financial;
Economic;
political;
Moral;
operating room;
In time;
personnel;
Organizational.
In addition to the above types of stability, there are also such as:
Balanced and unbalanced;
Constant and changing, rapidly developing;
Uniformly developing and unevenly developing stability;
Constantly and frequently changing stability;
Socially useful and selfish Lavrushina, OI Banking system in the modern economy: a textbook. -2nd ed., 2012 - S. 368.
The instability of the country's economy is the main problem of stability, its real sector, first of all, as well as instability in modern markets. Numerous and diverse factors that are closely interconnected and affect the life of a commercial bank in different ways make it necessary to change the strategy in the financial market. At the same time, it is necessary to take into account the fact that the negative impact of some factors can reduce or even negate the positive impact of others.
Speaking about the stability factors of a commercial bank, it is necessary to classify them as follows:
By way of occurrence
External and internal
By time of action
Permanent and force majeure
According to the importance of the result
Major and minor
By structure
Simple and complex
Direction of influence
positive and negative
Political, economic, social and organizational Nemchinova, Yu.V. The essence of the financial stability of the banking system and the factors of its provision at the present stage., 2012 - P. 194
Financial stability is the most important characteristic of the financial activity of a commercial bank in a market economy. Its provision is one of the most acute problems in the activities of commercial banks. Thus, if a commercial bank is financially stable, then it has competitive advantages over other commercial banks, which finds expression in attracting additional resources, dominating a particular market segment, increasing household deposits as the main source of banking resources and, accordingly, expanding the scope investments, the opportunity to master new non-traditional types of services, etc. In addition, a financially stable bank creates a favorable external environment, that is, it does not enter into conflict relations with the state and society, as it pays taxes to the budget and extra-budgetary funds in a timely manner and in full, wages to workers and employees, dividends to shareholders, returns borrowed funds to its creditors.
The concept of "financial stability" currently has numerous interpretations. However, there is still no well-defined definition of "financial stability" in relation to commercial banks. The authors of many textbooks offer different approaches to interpreting the definition of "financial stability of a commercial bank":
The financial stability of a bank can be assessed by the quality of assets, capital adequacy and performance;
The position of a commercial bank is stable if it has stable capital, has a liquid balance, is solvent and satisfies the requirements for the quality of capital;
It attaches paramount importance in determining the financial stability of the bank to its own funds;
The financial stability of a bank is understood as its ability to withstand destructive fluctuations, while performing operations to attract funds from individuals and legal entities to deposits, open and maintain bank accounts, as well as place funds raised on its own behalf and at its own expense on terms of payment, urgency and recurrence. That is, the author focuses on the bank's ability to provide a range of specific banking services of adequate quality. But in general, experts in the field of banking agree on one thing - that the financial stability of a commercial bank is the stability of its financial position in the long term. It reflects such a state of financial resources in which a commercial bank, freely maneuvering funds, is able, through their effective use, to ensure an uninterrupted process of carrying out its economic activities.
Characterizing the concept of "financial stability of a commercial bank", we define its main features:
The first sign - the category "financial stability" is a public category, which is manifested in the interest of society and its members in the sustainable development of commercial banks Grachev, A.V. Financial stability of an enterprise: criteria and methods of assessment.
The second sign of the concept of "financial stability of a commercial bank" is the dependence of financial stability on the volume and quality of the resource potential. The resource potential of the bank predetermines the qualitative level of the bank's financial stability. The more resources the bank attracts and the better these resources, the more active it is in investing its resources, the more it strengthens its financial condition and, accordingly, financial stability.
The third sign of the concept of "financial stability of a commercial bank" is a dynamic category, which is the property of returning to an equilibrium financial state after leaving it as a result of any impact. Based on the financial stability of the bank, its performance is largely revealed, since in order to be efficient and function normally, a commercial bank must be insensitive to extraneous disturbances of various kinds for a sufficiently long period of time.
In general, the management of the economic stability of a commercial bank consists of the regulation of all types of sustainability listed above. The totality of financial and organizational sustainability includes the process of making strategic decisions and involves the collection and processing of information, decision-making, management consulting, control, analysis, regulation, organization and optimization of the organizational structure, business planning of the bank and its divisions, management of the bank's personnel. Functional sustainability includes the implementation of the decisions made on the implementation of banking operations and services: the specialization of the bank (investment, mortgage, innovation, savings, etc.) and the universalization of the bank with a set of traditional and specific banking operations and services. Commercial and capital sustainability include bank communications, methodological support of the bank's product range, system software, application software and functional technological support, management of traditional banking risks and management of the bank's own and borrowed capital Grachev, A.V. Financial stability of an enterprise: criteria and evaluation methods., 2010 - P. 204.
Thus, we can conclude that the financial stability of the bank is financial independence from the changing market conditions, it is financial independence in pursuing policy, this is the basis for stable relationships with customers and the basis for continuous expansion of activities. This type of bank stability is determined by the main integral financial and economic indicators of the bank's activities, which synthesize the characteristics of other economic components of its stability: the volume and structure of own funds, the level of income and profit, liquidity, etc. So, we can say that financial stability expresses the economic stability of a commercial bank in the relevant financial indicators.
1.2 Methods for assessing financial stabilitybanka
To assess the financial stability of the bank today, there are several methods that are used both in domestic and foreign practice. The most commonly used are:
Methodology developed by the Central Bank of the Russian Federation;
Methodology for assessing financial stability V.S. Kromonov;
Method using the American CAMELS system. Single data archive [Electronic resource]. - Electron. Dan. - Access mode: http://www.finekon.ru/metody
The methodology for assessing financial stability, developed by the Central Bank, is given in the Instruction of the Central Bank of the Russian Federation dated April 30, 2009 No. 2005 - U "On assessing the economic situation of banks"
According to this Ordinance, the economic position of banks is determined by the analysis of such factors as capital; liquidity; assets; management quality.
Another assessment technique is the domestic technique of V.S. Kromonov, which has found a fairly wide application in the Russian practice of financial assessment of banks. The initial information for calculations is the balances of accounts of the second order, data that are grouped into economically homogeneous groups: authorized capital, equity, demand liabilities, total liabilities, liquid assets, working assets, capital protection.
Table 1.1 - A simplified method for calculating the reliability coefficient of a bank according to the method of V. S. Kromonov
|
Coefficient name |
Designation |
Meaning |
Normir. factor |
Weight coefficient |
||
|
General coefficient. reliability |
||||||
|
Instant liquidity ratio |
||||||
|
Cross ratio |
||||||
|
General liquidity ratio |
||||||
|
Capital protection ratio |
||||||
|
Equity capitalization ratio |
||||||
|
Coef. bank reliability |
Present in tabular form
K1 - general reliability coefficient: shows how risky investments of the bank in operating assets are protected by equity capital;
K2 - instant liquidity ratio: shows whether the bank uses client money as its own credit resources;
K3 - cross-coefficient: shows what degree of risk the bank allows when using borrowed funds;
K4 - general liquidity ratio: characterizes the bank's ability to satisfy the requirements of creditors within a reasonable period of time in case of non-repayment of loans issued;
K5 - capital protection ratio: shows how much the bank takes into account inflationary processes and what share of its assets it places in real estate, valuables and equipment;
K6 - coefficient of stock capitalization of profit: characterizes the ability to capitalize the profit received;
The values of these coefficients according to the standards are: 1; one; 3; one; one; 3 respectively. Their weight values are: 45%, 20%, 10%, 15%, 5%, 5%.
The CAMEL assessment methodology, which is a rating system for assessing a credit institution, is very common in modern banking practice.
The CAMEL methodology is an effective tool for banking supervision and is designed to identify and early warning of problems in the activities of a credit institution.
The CAMEL methodology has a hierarchical structure, which implies the division of the overall reliability of the bank into 5 main components:
Capital adequacy (capital adequacy);
Asset quality (quality of assets);
Management (quality of management);
Earnings (yield);
Liquidity (liquidity).
Each component is evaluated on a five-point system (1 - healthy, 2 - satisfactory, 3 - mediocre, 4 - critical and 5 - unsatisfactory), and based on their values, the final indicator is calculated.
The CAMEL methodology is used to study the level of stability of both individual financial sector entities and the financial system of any country as a whole. In the second case, capital adequacy, asset quality and other components of the CAMEL methodology are assessed for the banking system (financial sector) as a whole.
The main advantage of such a system is that it is a standard method for assessing banks, ratings for each indicator indicate the direction of action for their improvement, a comprehensive assessment expresses the degree of necessary intervention that should be taken in relation to the bank by the regulatory authorities.
Also, the CAMEL scoring method has its drawbacks. Such as the fact that it is based on a subjective assessment, this is what affects the quality of the final result. The result will depend on the professionalism of the representatives of the supervisory authorities.
The current financial stability analysis system evaluates its current financial position and projects it into the near future. The following general methods of analysis are used:
Horizontal analysis, which is a comparison of each position of the plan (program) with the previous period;
Trend analysis, which compares each position of the plan with a number of previous periods and establishes the main trend in the dynamics of indicators. On its basis, possible values of the analyzed indicators are formed in the future, provided that past trends are maintained. However, the preservation of these conditions usually does not occur and therefore the use of trend analysis is not always justified when developing a strategy for developing the financial stability of an enterprise;
Vertical analysis, that is, a structural analysis of the final financial performance of the enterprise in the reporting period, which determines the proportions between the indicators and reveals their impact on the overall result. This allows you to identify the impact of each indicator on the final financial performance (in this case, the lack of influence of one indicator is replaced by the influence of another). The limitation of vertical analysis is that it shows only the value of this substitution and does not indicate the permissible limits of its variations, which are one of the key points in the analysis of the financial stability of an enterprise;
Comparative analysis, which operates with spatial characteristics of financial results and is based on the analysis of summary reporting indicators for individual indicators of the enterprise, its subsidiaries, divisions. It also includes an inter-farm analysis of the enterprise's indicators, their comparison with the indicators of competitors, with average industry and average general economic data. The weak side of the comparative analysis is the complexity (and sometimes the impossibility) of choosing an object for comparison, as well as the fact that each enterprise has its own specifics of ideal financial results, which is determined by the goals of its creation and operating conditions, which is not taken into account in the comparative analysis;
Factor analysis, which is based on deterministic or stochastic methods of research and establishes the influence of individual factors that are the causes of the effective indicator. Factor analysis can be either direct or reverse. Direct factor analysis is based on breaking down the performance indicator into its constituent parts, while the reverse factor analysis combines individual elements by their influence on the performance indicator. Factor analysis makes it possible to reveal the eliminated influence of financial elements on the financial stability of an enterprise, the accuracy of which depends on what factors are included in the model of the investigated functional dependence. At the same time, it is difficult to obtain information on individual factors, and some factors may not be known at all, therefore, in factor dependence models, a term is used - a free term that determines the percentage of unaccounted factors At first glance, this percentage may not take into account the allowable set of factorial features, however, among these factors there may be major factors that have a significant impact on the future financial position. The factor analysis models do not reflect the priority of the factor dependence of unaccounted indicators and the change in the dynamics of financial priorities over time, the speed of which affects the financial stability of the enterprise more significantly than the causal relationships of factorial and effective features that have developed in previous periods. The weak side of the modern factorial analysis of the financial stability of an enterprise is that it does not take into account these priorities.
1.3 Factors affecting financial stabilityjar
The activity of commercial banks is a set of processes that depend on many factors. If one of the factors has not been considered, the assessment of the influence of other factors, as well as the conclusions, may not be sufficiently substantiated.
Each of the factors that are closely related to each other causes a multidirectional impact on the financial performance of the bank, and the negative impact of some factors can reduce or nullify the positive impact of others. Therefore, it is necessary to group them.
The classification can be based on the following features:
By place of occurrence (external and internal factors);
By the importance of the result (primary and secondary);
By structure (simple and complex);
By the time of action (permanent and temporary).
The most significant is the division of factors depending on the possibilities of influencing the dynamics of various factors. They can be internal and external. The former directly depend on the organization of the work of the bank itself, the latter are external to the former, and their change is either partially or completely beyond the will of the management of a joint-stock commercial bank.
The ability of the banking system to carry out its activities, its place and role in the processes of economic transformation largely depends on the state of financial stability of banks. Financial stability is not only the basis of a stable banking system, but also an important economic category, since the absence or low level of financial stability of any enterprise, including a commercial bank, leads to its bankruptcy.
In such conditions, the management of the financial stability of a commercial bank becomes important. The stability of the bank depends on many factors that determine its normal functioning and should be considered as a single system. The most complete is the classification according to the place of occurrence of the relevant factors.
The most important internal factors affecting the level of financial stability of the bank are:
The structure of banking products or services;
The amount and structure of expenses, the composition of financial resources;
capital adequacy,
The quality of commitment;
Solvency of a banking institution;
The level of profitability, the level of management, the ability to innovate;
Technical equipment;
Availability of technologies, state of control.
While among the external it is advisable to single out:
Economic conditions of managing; social situation in society; political stability, the state of the money market;
Credit and interest policy;
Efficiency of monetary policy;
tax policy;
Investment climate, the degree of perfection of legislation relating to the banking sector.
External factors are divided into economic, socio-political and financial. In turn, internal factors are divided into organizational, technological and economic factors. Such a distribution will allow a more detailed assessment of the influence of the relevant factors, explore their nature and origin, and as a result, reduce or even neutralize their influence. Solvency is one of the main conditions for the stability of the bank, which affects its ability to perform the function, in particular monetary intermediation (in terms of making payments on behalf of customers, and also taking into account the process of ensuring the necessary money supply).
So, solvency determines the ability of the bank to pay the requirements for previously accepted obligations. Asset quality is characterized by determining the return on assets, the level of risk, the share of working assets, the share of non-performing and non-profitable assets. The optimal corresponding values of indicators - the higher the level of financial stability. In the conditions of increased banking competition, certain difficulties arise in attracting funds by banks. Therefore, today an important factor influencing the financial stability of the bank is the quality of liabilities, which is assessed by the stability of the replenishment of the resource base, the cost of funds raised. It should also be noted that both organizational and technological factors have a significant impact on the level of financial stability of the bank, because they allow the bank to carry out its effective activities.
The system of indicators of financial stability allows assessing the qualitative state of the bank, its sensitivity to the impact of external and internal factors. According to the indicators of the information base, indicators are divided into macroeconomic indicators, indicators of aggregated financial statements and balance sheets of banks, and microeconomic indicators. Using the information base, a system of indicators of financial stability is formed - critical points, reaching which quantitative changes give rise to a qualitative leap, which changes financial stability.
An important aspect of the influence of global processes on Russian commercial banks is the dependence of the Russian ruble exchange rate on prices on world oil markets. The higher the cost of oil, the lower the ruble against the dollar-euro pair. Based on this, the currency risks of commercial banks are constantly changing, which are increasing cheap liabilities in dollars and euros, and placing funds through loans in rubles. This provides a high interest spread for such transactions, provided that the bank takes on the currency risks. However, if a commercial bank decides to hedge the risk with derivatives such as an option or forward, a portion of the net interest spread is eaten away by the value of the option or forward.
The monetary policy of the Bank of Russia, banking regulation and banking supervision also have an impact on the financial stability of commercial banks.
The structure of assets and liabilities, the quality of their management significantly affects the financial stability of the bank. By identifying the factors influencing the formation of the structure of assets and liabilities of commercial banks, it is possible to consider the main macroeconomic theories that explain the formation of various balance sheet items of commercial banks. As a basis for consideration, one can use the type of economic agents (household, firm or state), whose behavior is explained by these theories, according to macroeconomic science.
In custody
Thus, we can say that modern commercial banks are actually the circulatory system of the domestic economy - all financial flows pass through them. The stability of these flows ensures the functioning of the country's credit system and determines the level of financial stability of a commercial bank.
The financial stability of a commercial bank is influenced by many factors, and not all of them can be controlled by the bank's management. Many are a given, and the task of management in this case is to respond to them in a timely manner, to take measures adequate to the threats and risks.
Ensuring the financial stability of commercial banks is the basis for the efficient operation of the entire banking system of the country. Therefore, the main task of the management of banks, including the Bank of Russia, is to form such a financial stability management system that would be able to cover risks, ensure profitability and realize the social and economic importance of banks in modernizing the Russian economy.
financial stability bank liquidity
2. Ananalysis of the financial stability of JSC « FROMBurbank" for 2011-2013
2.1 General characteristics of Sberbank OJSC
Open Joint Stock Company "Sberbank of Russia" is the largest bank in the Russian Federation and the CIS. Its assets account for more than a quarter of the country's banking system (27%), and its share in banking capital is at the level of 26% (January 1, 2011). Founded in 1841, OJSC Sberbank of Russia today is a modern universal bank that meets the needs of various customer groups in a wide range of banking services. Sberbank occupies the largest share in the deposit market and is the main creditor of the Russian economy.
The founder and main shareholder of the Bank is the Central Bank of the Russian Federation (Bank of Russia), it owns 60.25% of voting shares and 57.58% in the authorized capital of the Bank. The remaining shareholders of Sberbank of Russia are more than 273 thousand legal entities and individuals http://www.bankforward.ru/.
Sberbank of Russia is a legal entity and, with its branches (territorial banks and branches) and their internal structural subdivisions, forms a single system of Sberbank of Russia.
Branches of Sberbank of Russia are not endowed with the rights of legal entities and act on the basis of the Regulations approved by the Board of Sberbank of Russia, have a balance sheet that is included in the balance sheet of Sberbank of Russia, and have the symbols of Sberbank of Russia.
The governing bodies of the Bank are:
General Meeting of Shareholders.
The supreme governing body of Sberbank of Russia. At the General Meeting of Shareholders, decisions are made on the main issues of the Bank's activities. Held once a year. The General Meeting of Shareholders resolves the following issues: approval of the annual report, considers the report of the Audit Commission, the report of the management, the procedure for distributing profits and its use (the amount and procedure for paying dividends), the development plan for the next year, determines the bank's development strategy, elects the Board of the bank;
*Supervisory Board.
The Supervisory Board of the Bank consists of 17 directors, including 11 representatives of the Bank of Russia, 2 representatives of the Savings Bank of Russia and 4 independent directors;
*The Board of the Bank.
The Board of the Bank consists of 14 members. The Bank's Management Board is headed by the President, Chairman of the Bank's Management Board.
All management bodies of the Bank are formed on the basis of the Charter of the Savings Bank of Russia and in accordance with the legislation of the Russian Federation.
The organizational structure of Sberbank is presented as follows:
*Savings Bank of the Russian Federation;
*territorial banks;
* branches;
*branches;
* agencies http://www.bankforward.ru/ .
The main goal of Sberbank of the Russian Federation is to ensure the growth of investment attractiveness and maintain leadership in the Russian financial services market by modernizing management and technological processes. In order to achieve the set task, Sberbank of the Russian Federation's activities are aimed at improving the client policy, creating a flexible and effective system of interaction with clients based on taking into account the needs of various client groups.
The main activities of JSC "Sberbank of the Russian Federation":
* lending to Russian enterprises;
* lending to private clients;
* investment in government securities and bonds of the Bank of Russia;
*carrying out transactions on a commission basis.
In addition, the presence of support from the state and, as a result, the stability and profitability of activities are the characteristics that ensure the investment attractiveness of Sberbank shares, which have the highest liquidity among financial and credit organizations in Russia.
It can also be noted that the branch network of Sberbank covers the whole country, and this is just an important indicator of competitiveness. Practically in all settlements of Russia (not only in cities, but also in villages) there are branches of the bank.
Sberbank considers meeting the needs of each individual client (individual, corporate, state) its main task. At the same time, the priorities are not only a quantitative indicator, but also a qualitative indicator of service http://www.stablebank.ru/.
In its work, Sberbank relies on respect for the legitimate interests, rights of customers, shareholders, and openness of information. With the help of such approaches, he tries to maintain the stability and profitability of his activities. Also, the bank is aware of its significant role in ensuring the sustainable functioning and development of the banking system throughout the country and is making every effort to implement this. Sberbank strives to implement the idea of combining internal and external corporate culture; to competent, high-quality customer service.
Therefore, Sberbank places high demands on the level of training and qualifications of its personnel, and creates all possible conditions for its constant improvement. Twice a year, Sberbank organizes the All-Russian Sberbank Games and is also active in social activities.
Sberbank of Russia has a unique branch network: it currently includes 17 territorial banks and about 19,000 branches throughout the country. Sberbank is constantly developing trade and export financing, and by 2014 plans to increase the share of net profit earned outside of Russia to 5%. Subsidiary banks of Sberbank of Russia operate in Kazakhstan, Ukraine and Belarus.
Sberbank of Russia today is a modern universal bank that meets the needs of various customer groups in a wide range of banking services. Sberbank occupies the largest share in the deposit market and is the main creditor of the Russian economy. Attracting funds from private clients and ensuring their safety is the basis of Sberbank's business, and the development of mutually beneficial relationships with depositors is the key to its successful work. At the end of 2011, 46.6% of citizens' savings kept in Russian banks were entrusted to Sberbank.
Mission of the Bank: “We give people confidence and reliability, we make their lives better by helping them realize their aspirations and dreams. We are building one of the best financial companies in the world, the success of which is based on the professionalism and a sense of harmony and happiness of its employees” http://www.bankforward.ru/.
The mission determines the meaning and content of the Bank's activities, emphasizing its crucial role in the Russian economy. Our clients, their needs, dreams and goals are the basis of all activities of the Bank as an organization. The Bank's mission also sets out the ambitious goal of our aspirations - to become one of the best financial companies in the world - and emphasizes how important its employees are to Sberbank, and how the realization of its goals is impossible without the realization of their personal and professional goals.
The reliability and impeccable reputation of Sberbank of Russia are confirmed by the high ratings of the leading rating agencies. Sberbank of Russia is a backbone financial institution that occupies a leading position in the Russian financial market.
The branch network of the bank covers all regions of the country. The bank's employees are more than a quarter of a million citizens. The bank's clients are numerous private clients from all over the country, Russian enterprises of all forms of ownership and sectors of the economy, executive authorities, government agencies http://www.stablebank.ru/.
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Thus, OJSC Sberbank of Russia occupies the largest share in the deposit market and is the main creditor of the Russian economy. Attracting funds from private clients and ensuring their safety is the basis of the business of Sberbank of Russia, and the development of mutually beneficial relations with depositors is the key to its successful work.
So, we can conclude that Sberbank is striving to become a leader in the financial services market, so the problem of improving the technology of banking operations, their accounting and subsequent control is of no small importance. The main task here is to optimize the conduct of operations, including: unification of the technology of banking operations, especially with individuals - its simplification, reduction of time during operations, standardization of deposit conditions, development of uniform technological requirements for automated systems.
Let's come to the consideration of the financial condition of the commercial bank JSC "Sberbank of Russia", for the period 2011-2013.
2.2 Assessment of the financial condition of Sberbank OJSC for 2011-2013
Financial analysis - the study of key parameters and ratios that give an objective picture of the bank's financial condition: profit and loss, changes in the structure of assets and liabilities, liquidity, solvency, stability.
The financial condition reflects all aspects of the bank's activities, is the most important characteristic of business activity and reliability, determines the level of competitiveness, as well as the potential for business cooperation.
Table 2.1. Key performance indicators of JSC "Sberbank of Russia" for 2011 - 2013 http://www.audit-it.ru/finanaliz/terms/analysis/
|
Index |
Growth in % 2011-2012 |
Growth in % 2012-2013 |
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|
Net profit |
||||||
|
Loan portfolio |
||||||
|
including lending to legal entities (excluding interbank loans) |
||||||
|
The balance of funds in the accounts persons |
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|
The balance of funds on the accounts of legal entities |
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|
Cost to income ratio |
In 2011, the profit of Sberbank increased by 186 billion rubles, in 2012 this figure continued to grow. And as of December 31, 2013, the profit amounted to 408.9 billion rubles.
Due to the growth in profits, the volume of net profit increased, which amounted to 21.6 billion rubles as of December 31, 2011, and -310.5 billion rubles as of December 31, 2013, which is 78.5% higher than in 2011.
In 2011-2012, the Bank demonstrated high performance results, which is confirmed by the return on equity of 20.1%, return on assets of 3.2.
The portfolio of loans to customers for 2011-2013 increased by 45.2% due to the growth in the volume of lending to both individuals and corporate clients. ., December 31, 2013 - 7839.1 billion rubles).
During the analyzed period, all indicators are growing in dynamics, despite the crisis in the economy, so during 2012, in a difficult situation in the Russian and global economy, Sberbank of Russia actively increased its lending operations. The volume of the loan portfolio as of January 1, 2013 amounted to 5,561 billion rubles. During the year, the bank increased the balance of the loan portfolio by 35.5% or by 1,457 billion rubles, which is more than the increase in 2012 (1,392 billion rubles).
Table 2.2. Analysis of the structure of the balance sheet of assets of Sberbank of Russia for 2011-2013 http://www.audit-it.ru/finanaliz/terms/analysis/
|
Index |
December 31, 2011, million rubles |
December 31, 2012, million rubles |
December 31, 2013, million rubles |
||||
|
Specific weight in % |
Specific weight in % |
Specific weight in % |
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|
Cash |
|||||||
|
Funds in the Central Bank of the Russian Federation |
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|
Funds in credit institutions |
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|
Net investments in securities |
|||||||
|
Net debt |
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|
Fixed assets, inventories |
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|
Other assets |
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|
Total assets |
The dominant items throughout the analyzed period are Net debt and Net investments in securities. The remaining indicators have an insignificant share, but still form the total assets.
Table 2.3. Analysis of the structure of the balance sheet of liabilities of Sberbank of Russia for 2011-2013 http://www.audit-it.ru/finanaliz/terms/analysis/
|
Index |
12/31/2011 million rubles |
12/31/2012 million rubles |
31.12.2013 million rubles |
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|
Funds of the Central Bank of the Russian Federation |
|||||||
|
Funds of credit institutions |
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|
Client funds |
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|
Issued debt |
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|
Other liabilities |
|||||||
|
Provisions for other losses |
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|
Sources of own funds |
|||||||
|
Total liabilities |
The dominant items throughout the analyzed period are Customer funds and the Bank's own funds, in a small proportion of funds of the Central Bank of the Russian Federation. The remaining indicators have an insignificant share, but still form the total liabilities.
Liquidity (current solvency) is one of the most important characteristics of the financial condition of an organization, which determines the ability to pay bills on time and is actually one of the indicators of bankruptcy. The results of the liquidity analysis are important from the point of view of both internal and external users of information about the organization.
Table 2.4 Liquidity indicators of Sberbank of Russia OJSC for 2011-2013 http://www.audit-it.ru/finanaliz/terms/analysis/ .
Evaluating the obtained values, it is clear that for all the periods that were considered, the liquidity indicators were in the norm. As regards the indicators of instant liquidity, it can be said that there is no risk of loss of liquidity of OJSC Sberbank of Russia during one business day for the periods under review.
Table 2.5. Estimation of liquidity ratios
So, we can say that a number of liquidity indicators do not meet the standards. Where are the standards?, This indicates the problems of the company's liquidity. At the end of the reporting period, there is an improvement in liquidity ratios, and therefore the financial condition of the organization has improved compared to the beginning of the reporting period.
Table 2.6 Dynamics of changes in the indicators of OJSC Sberbank of Russia, for 2011-2013
|
Name of articles |
Change 2013-2011 |
Growth rate 2013 By 2011 AT % |
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|
Cash |
||||||
|
Funds in the Central Bank |
||||||
|
Required reserves in the Central Bank of the Russian Federation |
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|
Funds in co. net of provisions |
||||||
|
Net investment in trading securities |
||||||
|
Net debt |
||||||
|
Net investment in investment securities held to maturity |
||||||
|
Net investment in securities |
||||||
|
Fixed assets, intangible assets and inventories |
||||||
|
Requirements for receiving % |
||||||
|
Other assets |
||||||
|
Total assets |
In general, we can conclude that during the reporting period the financial condition of the organization has improved compared to the previous period.
And now let's move on to the analysis of the financial stability of Sberbank of Russia OJSC.
2.3 Liquidity analysisJSC "Sberbank of Russia" for 2011-2013
The analysis of any operations should be completed with an assessment of their effectiveness, i.e. analysis of their profitability and profitability.
Table 2.7 Efficiency ratio of OJSC "Sberbank of Russia", for 2011-2013.
Based on the values of return on equity for the analyzed periods, it can be seen that for each ruble invested in equity accounted for 19.35 kopecks, 26.98 kopecks. and 28.30 kop. profits respectively. This indicator showed a positive trend, which indicates that equity capital with each estimated period brought more and more profit. The calculations show that the value of the return on assets had a sharp increase in the last period. The calculated values were within acceptable limits (0.5%-5%). We get that for every ruble spent on the formation of net assets, there was a profit in the amount of 3.97 kopecks, 3.96 kopecks. and 5.65 kop. respectively.
Table 2.8 Ratio of interest income and expenses of OJSC Sberbank of Russia for 2011-2013.
|
Interest income, thousand rubles |
||||
|
Interest expenses, thousand rubles |
||||
|
Interest income-to-expense ratio |
As a result, the ratios of interest income and expenses in OJSC Sberbank of Russia for 2010-2012 were 2.71%, 3.20% and 3.58%, respectively. This indicator assesses the ability of a credit institution to earn profit from...
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