Zadornov disclosed the details of Otkritie’s sale options :: Finance :: RBC

According to him, in the spring of 2022, during the IPO, 20-25% of the asset can be sold. The bank was sanitized through the Federal Security Service

Mikhail Zadornov

(Photo: Vladimir Astapkovich / RIA Novosti)

The chairman of the board of Otkritie Bank Mikhail Zadornov told Forbes in an interview that in March investment banks submitted their proposals on the future fate of the financial institution. The point is to sell 20-25% of Otkrytie at the first stage.

“There are different opinions about whether it is worth conducting an IPO or private placement, that is, selling to a strategist. Most banks nevertheless advise to go for an IPO, while not excluding the possibility that if someone offers good money, for example for Rosgosstrakh or NPFs, the Central Bank may sell these assets separately, ”Zadornov said.

Zadornov predicted a decline in return on deposits in rubles below 5%

Mikhail Zadornov

He noted that due to the situation with the coronavirus pandemic, banking assets are now “not fairly priced.” According to him, it is advisable to make an assessment at the beginning of next year, when the market will recover.

“In 2021, all Otkritie group companies must show results that will become the basis for the sale,” Zadornov said, noting that the IPO indicative dates moved to the spring of 2022.

Regarding the work of Otkrytie under quarantine measures, the bank’s chairman of the board noted that already in May the entire network was operating at almost full capacity, although only a third of the points worked in the first week of April. “We see that from mid-May activity in all areas has been recovering, and now we are changing the risk policy in relation to retail lending,” said Zadornov.

The Central Bank will postpone the sale of the sanctioned Otkrytie Bank due to a pandemic

Photo: Artem Geodakyan / TASS

The transfer of the sale of “Discovery” from the fall of 2021 to the spring of 2022 on June 5 was announced by the head of the Central Bank, Elvira Nabiullina. She noted that the Bank of Russia is interested in selling the asset “as quickly as possible”, but pointed out that potential investors should evaluate the state of Otkrytie and its prospects after emerging from the pandemic.

Otkrytie is the first bank to undergo a financial recovery under the new scheme. Since August 2017, its reorganization has been carried out under the control of the Central Bank, through the Banking Sector Consolidation Fund (FSBS). The Central Bank received a 99% stake in a credit institution, and later merged with Binbank, which was rehabilitated by a similar scheme. At the end of 2019, the combined bank ranked seventh in terms of assets (2.3 trillion rubles) in the Russian banking sector.


Lukashenko said Moscow understands the situation with Gazprom Bank :: Politics :: RBC

According to the president, he was struck that during searches in the bank, law enforcement officers found that “in all the main cells there were flash drives, hard drives and mountains of documents” that store a “huge layer of information”. The Belarusian authorities, according to Lukashenko, learned about what was happening at the bank in December last year, and it was not possible to arrest Babariko earlier, since there was no evidence base. He also added that if “the Americans did not put pressure on the Latvian bank last year,” Belarus would hardly have received information about fraud.

Lukashenko’s main opponent detained in Minsk

On June 11, searches were held at the head office of the financial organization. Employees of the State Control Committee (KGK) of Belarus seized more than $ 4 million and securities worth more than $ 500 thousand, and also detained 15 people. KGC said that Babariko was involved in illegal activities that led to searches and criminal proceedings. The latter are instituted under Art. 235 (legalization of funds obtained by criminal means on an especially large scale) and Art. 243 of the Criminal Code (tax evasion on an especially large scale).

On June 18, Babariko was detained; he is suspected of influencing witnesses and concealing evidence of crimes, as well as participating in money laundering.

Ivan Tertel, Chairman of the State Control Committee of Belarus, said that “puppeteers” from Gazprom or “even higher” stand for Babariko. In response, the press secretary of the Russian president Dmitry Peskov asked to argue this statement, recalling that the largest Russian companies are protected by the state.

Babariko himself called the raids a raid and claimed that it was a campaign directed directly against him.


The prosecution financial in the sights of lawyers parisians

Usually instead focused on the attack, the Parquet national financier (PNF) is now on the defensive. It is indeed in the line of sight of several lawyers of renown, furious at seeing their phone bills to be peeled in the course of an investigation which they say will not be involved in any way. ” In this case, there was clearly a infringement of professional secrecy, which is not acceptable “says Me Olivier Cousi, bâtonnier of Paris.

The case of ” Paul Bismuth “

Revealed by the verge, this case returns to the file of the tapping of Nicolas Sarkozy. A folder in which the former head of State should be tried for “corruption” and “traffic of influence” of 23 November to 10 December in front of the correctional court of Paris. In this case, Nicolas Sarkozy is suspected of attempting, in the beginning of 2014, to get through to his lawyer Thierry Herzog’s confidential information, a high official of the Court of Cassation on a procedure relating to the Bettencourt affair. In early 2014, the former president chatted often on the phone with his lawyer on a line quietly opened by the latter with the assumed name of ” Paul Bismuth “.

These lift legal that are causing controversy

At the time, the investigators listened to these conversations and had had the feeling in the light of the arguments exchanged between Nicolas Sarkozy and Me Herozg, become very different from one day to the next day that they had learned that their phones were being monitored. The PNF had then wanted to discover who had been able to reveal to the duo that their exchanges were put under surveillance. And the PNF had considered it possible that a parisian lawyer, who has been able to benefit from indiscretion coming from the legal world, had then informed Me of Herzog. Even as the two investigating judges had been appointed to investigate the exchanges between the duo Sarkozy-Herzog, and the judge of the Court of Cassation, the PNF had, him, quietly opened a preliminary investigation to attempt to discover the informant secret.

Phone bills, peeled

The police had then examined the ” fadettes “, that is to say, the list of telephone communication of several lawyers parisians who may have had contact more or less live with Me Herzog. The position of some of these lawyers have even been able to be geolocated. Open until 2019, the preliminary investigation has in the end not uncover the mole. “ In this case, which appears to be outside the norm, it is the protection of professional secrecy and the private lives of the lawyers who is in the game “thought I Cousi who, in the name of the Order of lawyers Appeared, announces that a lawsuit will be initiated. ” All of this investigation, the objective of which was the sole pursuit of the truth, was made in a legal framework “says one of the PNF.

The case raises, however, many reactions of political leaders who condemn the methods and the too much power of the PNF. “ Which raises the question, here, it is mainly the status of the Floor. The power of appointment or sanction of the magistrates, are still governed by the ministry of justice “says Jacky Coulon, secretary-general of the Union of magistrates (USM). Of course, the law prohibited the keeper of the Seals to interfere with a Prosecutor’s office and ask him to guide an investigation in a particular direction. ” But even if the judges act with independence, their relationship of dependency with the federal Chancellery promotes these suspicions of political pressure “adds Jacky Coulon, adding that the only way to allay these suspicions would be to reform the statute of the public Prosecutor. A status that the political class denounces happy when it is affected by a court case but to which she takes great care not to touch it when it is in power


In the draft defense budget of the United States have focused on competition with Russia :: Policy :: RBC

The U.S. Senate Committee on the armed force approved the draft defense budget by 2021 financial year (starts 1 October). The document published on the website of the Committee.

For the bill were 25 senators, against — two. Now the budget will be considered by the upper house of the us Congress.

‘ve budgeted $740,5 billion In it an emphasis on strategic competition with Russia and China.

Material supplemented.


What happened during the night. Breaking news RBC :: Society :: RBC

What new sanctions prepared by the United States against Russia, how many Russians reach financial independence, 2 million cases COVID-19 in the United States, Musk praised Rogozin’s article; top news — a review of RBC

The US has proposed to impose “tough” sanctions against Russia

The Republican study Committee submitted a 120-page report, which included “the most stringent ever proposed” sanctions against Russia, China and Iran.

  • In particular, Russia, the Republicans are urging to recognize the “state sponsor of terrorism for its support of the Islamic revolutionary guard Corps, Hezbollah, the Taliban (an organization banned in Russia) and “Russian Imperial movement”.
  • Sanctions, in the opinion of the Committee, you must enter against companies that support the Russian oil and gas projects. Also Russia should be excluded from the international system SWIFT. Restrictions should also apply against “the leaders of her campaign of disinformation”: the head of AFK “Sistema” Vladimir Yevtushenkov, the former Prime Minister of Georgia Bidzina Ivanishvili, the leader of Ukrainian party “the Opposition platform For life” Viktor Medvedchuk.
  • In addition, Republicans believe that Congress should authorize the U.S. Department of state to arrange for the collection of news and information to Russians directly, what did the Obama administration.

Sberbank called the age of achieving financial independence in Russia

A study of the savings Bank have shown that the Russians are financially independent from their parents, on average, 26 years. Respondents in the far East and Siberia


Severe financial losses for sanctuaries

Entire sections of the Camino de Santiago route deserted by walkers, sanctuaries and shops with closed doors, guesthouses emptied of their traditional groups of pilgrims. At the time of the global pandemic of Covid-19, French pilgrimage sites are also living in slow motion. Uncertain about their reopening, or their summer spiritual sessions, many are struggling to keep their finances afloat, and appeal to the generosity of the faithful and major donors.

“The current economic situation varies a lot from one sanctuary to another: those with websites limit the damage. But many structures – in particular the smallest, or the youngest – were already suffering from financial difficulties, and they will certainly have to take stock in the coming weeks with the diocesan economists ”, said the Dominican Christian-Marie Donet, rector of the Sainte-Face Oratory in Tours (Indre-et-Loire), and president of the Association of Rectors of Sanctuaries (ARS).

“Historical deficit”

The losses are, in places, very heavy. As for the Notre-Dame de Lourdes sanctuary, which is about to reopen on Saturday, May 16, under certain sanitary conditions. “The economic impact of the crisis we are going through is extremely serious (…). We will not be able to survive without help ”, thus deplored its rector, Mgr Olivier Ribadeau Dumas, in a recent call for donations.

Cancellation of 100% of pilgrimages organized from April to July, of 70% for August, of 30% from September to October … “Historical, this deficit is estimated at eight million euros”, abounds Mathias Terrier, the director of communication of the sanctuary: “All of our efforts to return to economic equilibrium – with around € 100,000 in surpluses generated in 2018 and 2019, a trend that was to be confirmed this year – are being wiped out. “ And in its wake, the closure of the Marian site led to the suspension of activity of the main players in the tourism sector, from the hotel business to shops: “The whole ecosystem of the city has stopped, with almost 1.5 million overnight stays canceled …”

To limit the damage, many will have to tighten their belts. ” NOTWe will remain very cautious about our future investments, for example by postponing works “, says Emmanuel Houis, secretary general of the Lisieux sanctuary. With 200,000 fewer admissions to the Basilica of Sainte-Thérèse until May, and the cancellation of the visit of 400 groups – representing a loss of almost 40% of its annual revenues -, the building decided not to recruit seasonal workers this summer. “But we want to remain optimistic: this crisis, however difficult it may be, invites us to question our operating methods”, he continues.

In France, these places of pilgrimage who learn to live without pilgrims

” The blur “

For the youngest of these structures, who therefore do not have a consistent mattress, the situation is particularly trying. This epidemic comes while our site is still taking off: last year, 30,000 people flocked to it, double the number from four years ago “, remarks Damien Thomas, secretary general of the sanctuary of Alençon (Orne). Born just after the canonization in 2015 of the parents of Saint Teresa of the Child Jesus, the site dedicated to families estimates that their annual losses are between 20 and 30%.

All are immersed in expectation. “We also don’t know to what extent people will be able to give after the crisis, with the recession announced”, continues Damien Thomas. “French visitors will also certainly have fewer holidays this summer to come”, adds Father Bernard Planche, rector of the Notre-Dame cathedral in Puy-en-Velay (Haute-Loire), which usually attracts nearly 600,000 visitors each year, including around 15,000 pilgrims from Saint-Jacques. In mid-May, the building launched a call for online help, advancing the figure of “Almost 40,000 €” containment losses.

Now is the time for inventiveness. “We are thinking about summer sessions in a reduced format, making it possible to accommodate five to seven families”, indicates Gaétan Guiller, president of the Association of the sanctuary Notre-Dame-de-Grâces de Cotignac (Var), which estimates at 200,000 € – on an annual income of 850,000 € – the shortfall of the last three months. “This crisis reveals how much the sanctuaries support people in the essential aspects of life: work in Montligeon, the sick in Lourdes …”, supports Damien Thomas, “More than ever, we are going to need these spiritual oases after the pandemic. “


“The link with the sanctuaries remains”

Father Vincent Cabanac, Assumptionist, director of the National Pilgrimage of Lourdes

“Throughout the month of May, the month of Mary, we wanted to offer a prayer path (1), revealing online day by day texts accompanying each mystery of the Rosary. This is about praying together, in a great national spirit. With this digital access, one might think that virtuality induces a form of unreality. But it is a concrete proposition, and there is in the regularity of these proposed times, drop by drop, something that takes on consistency. Even from a distance, the reality of common prayer and the link with the sanctuaries remains, beyond geographic separation. “


Behind the scenes of Brussels – Containment: the debate prohibited

It only took a few moments, on March 16, for the Head of State and his government, in the name of the fight against the coronavirus pandemic, to place the French under house arrest and deprive them of most of their freedoms civil, political and social that we thought inalienable: freedom to come and go, freedom of assembly, freedom to undertake, freedom to work, etc. Justice has almost been brought to a halt, lawyers confined, provisional detentions automatically extended, the police (understood in a very extensive sense since they include municipal police officers and the like) invested with full powers apply these custodial measures.

Containment without legal basis

This suspension of the rule of law was done without legal basis. Indeed, the decree of March 16 restricting the movement of citizens does not fall within the powers of the executive, since only a judicial judge, the liberty judge, can normally decide on an individual basis. Nevertheless, administrative justice, in this case the Council of State, validated it on the basis of the jurisprudential theory of “exceptional circumstances”, which is probably not its most inspired decision.

It was only on March 23 that Parliament gave a legal basis to the measures announced on March 17 by hastily passing the law creating a “state of health emergency” which authorizes the government to trigger it “in the event of a disaster. health endangering, by its nature and gravity, the health of the population ”, a particularly vague definition. This whole law cultivates vagueness, the offenses it provides for example leaving a large part to police interpretation and therefore to arbitrariness. Renewable by Parliament – possibly for a period longer than two months – it gives full powers to the executive, Parliament being stripped of its powers and reduced to the role of mere spectator. If the Assembly has not changed the government’s plan, the majority being what it is, the Senate, dominated by the classic right, has fortunately managed to introduce some safeguards in this improvised text and poorly put together in providing in particular that it will cease to apply in any event on 1er April 2021, unless a law to the contrary is passed. A fundamental clarification which the government services had curiously not thought of.

Not quite a dictatorship

It is remarkable that this exceptional legislation, justified by the use of a warlike language unique in Europe (“We are at war”) was not the subject of a referral to the Constitutional Council, the opposition, all as forbidden from terror as public opinion, having given up exercising its rights, an unprecedented fact, when it is a particularly serious attack on the rule of law. The constitutional judges were only seized on one point of detail, the suspension of the time limits to judge the questions preliminary of constitutionality (QPC), a provision which it moreover validated.

As long as the state of health emergency applies (until the end of July we have just learned), France is no longer a democracy, even if it is not quite a dictatorship. In his time, François Mitterrand denounced the “permanent coup” that were the institutions of the Fifth Republic. The coronavirus has made it possible to carry out this institutional logic. The head of state, relying on a submissive majority and facing non-existent opposition, seized all the levers of power by invoking the need to preserve the health of the French and a health emergency that he does did not want to see it coming, he who ten days earlier encouraged the French to continue living as before.

This parenthesis of the rule of law was accompanied by the brutal halt of a large part of the economy, a logical consequence of confinement. Above all, the government decided, without any consultation, which businesses could remain open, forcing companies to lay off more than 11 million private sector workers.

Lack of debate

It is truly staggering that these exceptional powers entrusted to the State to apply a brutal and without nuance confinement to an entire country, one of the hardest in Europe with those of Spain, Italy and Belgium , did not give rise to any debate, as if there was no other choice. However, never a democracy used in the past this method to fight against a pandemic (there was only partial confinements at the beginning of the previous century), in particular during the Spanish flu of 1918-1919, of the Asian flu of 1959 or of the Hong Kong flu of 1969. The fact that containment was a solution invented by China, a totalitarian regime, to contain the coronavirus pandemic should at least have questioned its legitimacy. However, it imposed itself almost naturally, all playing in reality when Italy took the decision to confine the whole of its population from March 10, which caused a domino effect, each wanting to show that he was also keen to protect its population: Spain imposed it on March 15, France on March 16, Belgium on March 18 …

However, there was room for debate and on all fronts. On the principle of containment itself first. Because it is only a stopgap aimed at slowing the spread of the virus and avoiding congestion in hospitals which could result in additional deaths. Clearly, the virus will continue to circulate and kill those it must kill after the containment is lifted – in a proportion that no one knows – since it does not exist and will not exist for one or two years a vaccine and that treatments are still in the experimental stage.

Containment is a political trap

Obviously, no one realized that it was going to be very difficult to get out of the containment once decided without political damage, a part of the public opinion risking to be self-persuaded over the days that it is in eradicating the disease. If the pandemic continues to kill, and it will, the government will be automatically accused of endangering the health of its citizens to save “the economy”, a swear word for some French people as if working for a living was secondary to health… In other words, the temptation will be strong to return to blind confinement to silence the controversies or to get out of them as late as possible, the path chosen by France after six weeks of state of emergency sanitary.

This is also why countries like Sweden, Switzerland, Germany or the Netherlands either have not adopted this strategy, letting life take its normal course, or have applied it with much more finesse, which made it possible to avoid passing through the box of exceptional powers entrusted to the executive and especially to break the economy.

Why confine an entire country?

This total foreclosure of a country is all the more questionable since whole regions were and are almost untouched by the virus: why impose the same treatment in Creuse as in Ile de France, in Puglia as in Milan ? Why not have it confined to the extent of the pandemic, just like Germany, where the Länder are competent in public health, has done with the success we know? Thus, from the start, two foci were identified in France: the Oise and Mulhouse. However, rather than reacting immediately by isolating these two regions and deploying military medical means to relieve hospitals, the government procrastinated, allowing the virus to spread. It remains staggering that it was not until March 24, a week after the decision to confine the country, that the military medical service was sent to reinforce Mulhouse! From there to think that total containment was also motivated by the inability of the authorities to anticipate the crisis, there is only one step that I will be careful not to take.

Similarly, the choice of companies to close and the precautions to be taken would also have been a possible area of ​​discussion. For example, it quickly became known that air conditioning allowed the virus to circulate more than a meter and contaminate many people. So does closing shoe repair shops, art galleries or florists and leaving supermarkets open make medical sense? Likewise, was school closure necessary? All this was left to the discretion of a bureaucracy without control and without any consultation with all economic and social actors.

Why place an entire population under residence?

Finally, it appeared very early on that the disease was overwhelmingly fatal for people over the age of 70 (average age of death in Italy or France: 80) and those with serious pathologies, in particular clear the weak. Was it therefore rational to confine all assets and plunge the country into recession? Perhaps we should have focused on protecting these at-risk groups rather than putting a whole country under wraps without thinking of tomorrow, especially since we know full well that the virus is here for a long time.

The debate becomes, at this point, particularly emotional, because it refers to our relationship to death. Why has such a pandemic, which is not the first the world has faced and which is especially far from being the most deadly in history, led states to decide on unprecedented measures while knowing that they were not a cure? Why such a panic, especially when you compare the mortality caused by the coronavirus with that of other diseases? Although we must still be careful, since five months after its appearance, we still know very little about covid-19, which should warn us about the scientism that seized us, the doctors having said everything and its contrary to this pandemic, making political decision particularly difficult. However, let’s remember that 400,000 new cancers are diagnosed each year in France and that 150,000 French people die from it, and yet tobacco and alcohol are still not banned, while that would avoid much of it. If all life deserves to be saved, why be so casual about cancer? Similarly, seasonal flu (while there is a vaccine that a large majority considers dispensable) kill each year between 3,000 and 15,000 people (not to mention the more than 30,000 deaths from the Hong Kong flu in 1969 in a country of 51 million inhabitants or the equivalent number of deaths in 1959 in a country of 45 million inhabitants), seasonal respiratory infections 68,000 people, road accidents 3500 people to which must be added the disabled for life. And yet, no one has thought of banning the car (and every measure aimed at strengthening safety has its share of protests, remember the 80 km / h) or to make the fight against pollution or junk food a categorical imperative.

If we look at the statistics of mortality in the world, we see that hunger (yet easy and inexpensive to eradicate), malaria, AIDS or even wars (often made with the weapons produced by our industries) kill infinitely more than the coronavirus will ever kill.

Choose your comrade side, but there is only one good side, that of containment!

It would probably be necessary to question the responsibility of the audiovisual media in this panic which has taken hold of Western public opinion (with a German exception, German televisions having voluntarily decided to treat covid-19 in the place it deserves). Announce every morning the number of dead without putting them in perspective (compared to the usual average of the dead, their age, the comorbidity from which they suffered, etc.), devote entire newspapers to the pandemic can only shake even the best made heads … Imagine that every morning the number of deaths in France is truncated for all causes and that all the newspapers are devoted to it: who would still dare to simply live?

This is not to say that a death is immaterial, but simply that any public policy must be subject to a cost-benefit assessment. If we do not ban the sale of weapons, tobacco, alcohol, cars, trucks, thermal power stations, it is because collectively we believe that the cost would be greater than the benefit we would derive from it. But this debate, in the emotional surge that has been going on for two months, is in fact prohibited. Those who dared to question the chosen strategy and especially on its duration were pilloried by the most radical, those who are heard. To be opposed to the prolongation of confinement is to be for the “sacrifice” of those who are sick, “to spit in the mouth of the dead” and so on. In short, choose your comrade side, but there is only one good side, that of containment! I have even been threatened with death, myself and my family, by good people who believe that all life must be saved at any cost without the contradiction of their words touching their minds for daring to me. question in two tweets from April 9, three weeks after the start of confinement: ” It’s crazy when you think about it: plunging the world into the worst recession since the Second World War for a pandemic that has so far killed less than 100,000 people (not to mention their advanced age) in a world of 7 billion inhabitants. Seasonal flu, which kills especially young children, is between 290,000 and 650,000 per year worldwide. And everyone fucks, but serious. “

The worst recession of all time outside of the war (and more)

However, confinement will lead to an unimaginable recession by its violence: it should reach between 8% and 15% of GDP, an unprecedented decline in activity in peacetime (we must go back to 1942 to record a recession of -10 %). We have never brought an economy to a complete halt as we have just done, we must be aware of this. Partial unemployment now affects nearly twelve million workers (one in two private workers!) And the layoffs caused by thousands of business bankruptcies will number in the hundreds of thousands or even millions once the partial unemployment scheme supported by the state will expire (because it costs a fortune). And the longer the shutdown, the more difficult it will be to restart. The cost generated by the establishment of a social safety net and by economic plans will lead to an unprecedented deterioration in public accounts and the young generations who will have to pay twice for confinement: by the loss of their jobs and by raising taxes for those who will keep it.

It should not be forgotten that unemployment is also a health catastrophe, but more diffuse and therefore socially more acceptable: we thus estimate at 14,000 the deaths which it causes each year in France by induced diseases. And how not to speak of its procession of misery, hunger, social downgrading, etc. The effects of confinement are also going to have terrible consequences on the minds of French people, on violence against women and children, on their health (for example, early screenings for cancer, stroke, heart attack are suspended and nothing is known about suicides, etc.), about dropping out of school (how many children have simply disappeared from the system? ).

A lastingly weakened rule of law

Finally, to believe that public freedoms, democracy, will come out intact from this episode is just a sweet dream. The state of health emergency will remain enshrined in our law for a long time exactly as the state of emergency, launched in 2015, was finally incorporated into ordinary law. It is rare for a state to give up on its own the powers gained over the legislature and the justice system. The tracking of individuals, via smartphones, which some consider to be a necessity, could well become the rule in the name of safeguarding our health which has become THE priority, privacy being reduced to the rank of concern of another age. Having chosen total containment and the state of emergency will leave lasting traces in French democracy.

I do not pretend to provide an answer here. Simply, the first elements of the deconfinement show that another way would have been possible: confinement not department, wide discretion left to local authorities, referral to the judicial judge to register the carriers of the virus, etc. I just regret the absence of democratic deliberation before the establishment of the state of health emergency and its extension. As if sacrificing generations under the age of 60 and suspending the rule of law were obvious facts.

In provisional conclusion, I think that we should not be mistaken about the meaning of the unimaginable event that we are experiencing: it is the triumph of individualism, that of the immediate health of the individual in the face of well-being current and future collective. The terms of the debate are in reality identical to those of climate change: should we accept to sacrifice our immediate well-being to ensure the survival of the human species?

Some reading tips:

Note from the magistrates’ union on the state of health emergency

“Let us beware of falling into a sickly, viro-induced, social and political reactivity”

The catastrophic cost-benefit of containment

Breaking out of blind confinement

Dare to discuss confinement (a Belgian point of view)

Will the remedy ultimately be worse than the coronavirus? (a Swiss point of view)

“Let us die as we wish” and “I prefer to catch covid-19 in a free country than to escape it in a totalitarian state”


The data of those wishing to take a loan, the Russians put up for sale on the Internet :: Finance :: RBC

According to the seller, all customers “leaked” from one source. RBC phoned some of the clients whose data turned out to be in a free sampler: a quarter of them said that they were clients of the microcredit company Mikroklad (did not respond to a request from RBC), part that they submitted applications to several MFIs, and part that they did not remember the name of the lender. The database also has telephone numbers that are currently no longer being serviced.

Mikroklad is registered in St. Petersburg, has been on the state register of microfinance organizations of the Central Bank since 2014, and is also a member of the largest self-regulatory organization MiR in the market since 2015. According to the information on the ICC website, it is included in the top 25 largest MFIs in the country and provides loans throughout Russia. More than 200 thousand people are clients of the Microclade, and by the end of 2019, the MKK issued loans totaling 1 billion rubles.

Marriott Hotel Chain Reported 5.2 Million Clients Leak

The director of the SRO MiR, Elena Stratyeva, said that the organization learned about the leak from a RBC correspondent and began the audit, although formally it does not have the right to bring companies to disciplinary liability for leaks. “According to experience, fortunately, few in comparison with other sectors, but nevertheless there have been similar incidents of previous years, in our estimation, up to two thirds of data in such databases are very outdated (irrelevant). Which greatly complicates the process of identifying who and when violated the law, ”added Stratieva.

RBC sent a request to the Central Bank.

What could lead to a leak

It is impossible to confirm the presence of 12 million records in the leaked database without purchasing it. There’s no reason for the seller to lie about the number of lines in the database, since in such forums transactions are usually carried out through a guarantor, which allows the buyer to check everything before the money is transferred to the seller, said Ashot Oganesyan, founder and technical director of DeviceLock. Some of the clients in the database are repeated, since they could fill out several loan applications, according to the sample data.

According to Hovhannisyan, the leak could have occurred as a result of unloading from a database server that serves the information system of a financial supermarket or MFI. At the same time, it is impossible to determine which company made the leak by the data set of the unauthorized person. “Most likely she [база данных] was obtained either by hacking this server, or from a backup of a database that accidentally fell into the hands of attackers or was stolen by an insider, ”Hovhannisyan explains.

Alfa Bank customer data leaked to the Network

Photo: Mikhail Voskresensky / RIA Novosti

Given that the database contains not only contact and passport data, but also electronic wallet numbers (WebMoney), as well as information about loans received, attackers can use it to send fraudulent offers to write off debt for a fraction of the cost, pay a credit history correction or attempts to take new microloans online, the expert noted.

Fraudsters can also use such databases to arrange online loans addressed to the victim – the Central Bank told about such cases. However, to get a quick loan online, you need passport data and SNILS – the last type of document is not contained in the database being sold. Attackers can try to get it with the help of social engineering – psychological methods based on deceiving the victim.

For the first half of 2019, the Central Bank found 13 thousand ads on the sale and purchase of personal data bases. 1.5 thousand of them (12%) are the bases of financial institutions.


Pessimism of Russian business reached the level of the crisis year 2015 :: Economy :: RBC

Pessimism in the business environment reached the crisis level of 2015, a Deloitte study showed. The proportion of CFOs expecting a drop in revenue rose to 37%. Most of all, business fears a weakening ruble and a contraction in demand

Photo: Artyom Zhitenev / TASS

The share of Russian business, which expects a decrease in income and profits against the backdrop of the coronavirus pandemic, has reached a record level since the second half of 2015, according to a survey conducted by Deloitte of financial directors of leading companies from key industries. 37% of financial directors predict a decline in their company’s earnings, 40% expect a drop in operating profit, the study says (RBC has it).

For comparison: in the second half of 2019, only 12% of CFOs expected a reduction in the company’s revenues, and 19% expected a decrease in operating profit.

For the eleventh time, Deloitte conducted a regular survey of financial directors of Russian companies, the study was conducted in March and the first half of April through online questionnaires and personal interviews. The final sample included 45 respondents, which were grouped by industry, revenue in 2019 and the number of employees.

Deloitte does not exclude the possibility that in April, when quarantine measures are applied to the regime of unearned days, negative moods of companies could grow stronger than the survey showed.

  • The top 3 risks that had the greatest impact on the business included the weakening of the ruble (80%), a decrease in core income (78%) and a decrease in demand (78%), financial directors say;
  • 70% of companies expect revenue to fall in the next six months; 54% predict that the decline will stretch over the next year and a half.


Stadler boss not in favor of recovery plans

Stadler boss not in favor of recovery plans

Sunday, 19.04.2020

Stadler boss Peter Spuhler believes, however, that partial unemployment benefits have worked well in times of crisis (Keystone)

The industrialist Peter Spuhler is critical of state measures to support the economy in the coronavirus crisis. “I’m absolutely not a fan of the stimulus packages,” said the boss of Stadler Rail and former UDC national adviser in the SonntagsBlick.

It is almost impossible for government measures to come in the right place and then take effect at the right time, said Spuhler. And the former federal parliamentarian to recall that he had been the spokesperson for the UDC group when the National Council had discussed the last package of cyclical measures during the financial crises and the euro, and that as such had also had to look at their effects.

The industrialist underlines that in Switzerland, “demand often depends on abroad, on which our country has almost no influence”. In times of crisis, the partial unemployment benefit has therefore proven itself and it is now also important to guarantee it.

The government must also ensure that SMEs have sufficient liquidity, said Spuhler. The Federal Council has already done “excellent work” in this regard, he said.

His company Stadler Rail has so far weathered the crisis relatively well, he also said. “So far, we have not had to ask for government support. The order books are full. Under the circumstances, the facilities are reasonably busy,” said the boss.

There are exceptions, however, in Spain and the United States: “In Valencia, we had to temporarily close our production plant by order of the government. In Salt Lake City, we had to reduce the workforce by two thirds.”

Currently, the main focus is on maintaining supply chains. “If they were to be broken, we could not finish our trains,” he warned. (ats)