Assessment of the borrower's creditworthiness according to the methodology of the Savings Bank of Russia. Assessment of the borrower's creditworthiness on the example of OJSC 'Sberbank of Russia' Making the final decision: to issue a loan or not

07.04.2020

The methodology for determining the creditworthiness of borrowers in the Savings Bank of Russia is enshrined in the Instruction of the Savings Bank of the Russian Federation "On lending to legal entities by institutions of the Savings Bank of the Russian Federation" dated 10.26.93 No. 26-r. Sberbank of Russia has developed and applies a methodology for determining the creditworthiness of a borrower based on a quantitative assessment financial condition and qualitative risk analysis. The financial condition of the borrower is assessed taking into account trends in changes in the financial condition and factors influencing such changes. For this purpose, the dynamics of estimated indicators, the structure of balance sheet items, the quality of assets, and the main directions of the financial and economic policy of the borrower are analyzed.

According to Instruction No. 26-r, three groups of performance indicators are used to assess the financial condition of the borrower:

Liquidity ratios (K 1, K 2, K 3);

Ratio of own and borrowed money(K 4);

Return on sales (K 5).

Profitability of the enterprise (K 6). On lending to legal entities by institutions of the Savings Bank of the Russian Federation: Instruction of the Savings Bank of the Russian Federation of October 26, 1993 No. 26 - r (as amended on December 25, 2012). - (http://base.consultant.ru/cons/cgi/online.cgi?req=doc;base=AVV;n=19598)

It characterizes the borrower's ability to instantly repay its debt obligations.

where K 2 - intermediate coating, coefficient.

Shows the proportion of short-term liabilities that can be repaid when collecting receivables.

where K 3 - current (total) liquidity, coefficient.

This is a general indicator of the solvency of the borrower. It shows the proportion of short-term liabilities that can be repaid by collecting receivables and selling stocks.

where K 4 - the availability of own funds, coefficient.

It characterizes the share of the enterprise's own funds in the total amount of the enterprise's funds.

where K 5 - profitability of sales (products), coefficient.

This is the main indicator characterizing the profitability of the enterprise. Shows how much profit the company receives from each ruble of sold products.

where K 6 - profitability of the enterprise, coefficient.

In addition, the turnover ratios of various elements of current assets and receivables are calculated. They help to determine the effectiveness of the use of both individual items of assets and the total assets of the enterprise. They are calculated in days based on the volume of daily sales. One-day sales revenue is calculated by dividing the sales revenue for a period by the number of days in the relevant period (90, 180, 270, or 360).

Based on the results of the analysis of six coefficients, the borrower is assigned the category presented in Table 3.1 for each of these indicators based on a comparison of the obtained values with the established (sufficient) ones.

Table 3.1 - Categories of indicators for assessing the borrower's creditworthiness, coefficient On lending to legal entities by institutions of the Savings Bank of the Russian Federation: Instruction of the Savings Bank of the Russian Federation of October 26, 1993 No. 26 - r (as amended on December 25, 2012). - (http://base.consultant.ru/cons/cgi/online.cgi?req=doc;base=AVV;n=19598)

Further, the sum of points for these indicators is determined in accordance with their weights. The calculation of the total score (S) is made taking into account the significance coefficients of each indicator, which have the following values: K1 = 0.05; K2 = 0.1; K3 = 0.4; K4 = 0.2; K5 = 0.15; K6 = 0.1. The S value, along with other factors, is used to determine the borrower's rating. The formula for calculating the sum of points S is: Ibid.

S \u003d 0.05 x K1 + 0.1 x K2 + 0.4 x K3 + 0.2 x K4 + 0.15 x K5 + 0.1 x K6. (eight)

For the remaining indicators of the third group (turnover and profitability), optimal or critical values are not set due to the large dependence of these values on the specifics of an economic entity, its industry affiliation and other specific conditions. Implemented comparative analysis these indicators and evaluate their dynamics.

Qualitative analysis is based on the use of information that cannot be expressed in quantitative terms. This analysis uses information provided by the borrower, the security unit, and database information. At this stage, sectoral, joint stock, regulation of the activities of an economic entity, production and management risks are assessed. Kazmin A. Banking system and Sberbank of Russia: new challenges and growth impulses / A. Kazmin // Money and Credit. - 2010. - No. 10. - S. 3-9.

The final step in assessing creditworthiness is to determine the borrower's rating, or class. There are three classes of borrowers:

First-class, lending which is beyond doubt;

Second-class - lending requires a balanced approach;

Third-class - lending is associated with increased risk.

The rating is determined on the basis of the sum of points for six main indicators, an assessment of the remaining indicators of the third group and a qualitative risk analysis. The sum of points (S) affects the borrower's rating as follows:

1) S = 1 or 1.05 - the borrower can be assigned to the first class of creditworthiness;

2) 1,05 < S < 2,42 соответствует второму классу;

3) S > 2.42 corresponds to the third class.

Further, the preliminary rating determined in this way is adjusted taking into account other indicators of the third group and the qualitative assessment of the borrower. If these factors have a negative impact, the rating can be reduced by one class. Prime borrowers lend on preferential terms, second-class - on ordinary. The issuance of loans to enterprises of the 3rd class is associated with risk.

Stages of implementation of the methodology for assessing the creditworthiness of borrowers - legal entities:

1) Study general characteristics borrower, (reputation, business history, characteristics business activity, relations with consumers of products and suppliers of products, the composition of the founders and their stability, the return of previous loans, the location of the borrower, and so on).

2) Analysis financial position the borrower (the ability of the borrower to receive funds for all types of activities and to pay for its obligations, including long-term obligations).

3) Performance analysis credit operation or investment project(recoupment of the project, cash flow for a specific project, the desire of the borrower to use in the project that is being financed, equity, the nature of the market, the conditions for the sale of goods, the prospects for the development of the industry).

It's no secret that the main consumers of "credit products" of the Savings Bank of Russia are representatives of small and medium-sized businesses. Before issuing a loan, the bank must verify the creditworthiness of the borrower. Using the example of Vesna LLC, we will consider the stages of making a decision to provide a loan.

To begin, let's collect general information about the Borrower.

Name: Vesna Limited Liability Company

Location and postal address: 399154, Lipetsk region, Lebedyansky district, s. Viazovo, st. Postal 10.

Registration information: certificate No. 000474570 dated 06/23/2004, registration authority Interdistrict Tax Inspectorate

Field of activity: agriculture

Capital size and structure: authorized capital- 10,000 tr.

The economy is diversified. The main activities are:

Cultivation of cereals and leguminous crops.

Growing potatoes;

Cultivation of sugar beet;

Breeding cattle;

Wholesale trade in grain;

Retail sale of dairy products.

Non-renewable limit credit line- 20,000,000 rubles;

Credit term - 365 days;

Interest rate - 13% per annum;

Purpose - replenishment of working capital, payment of wages, payment of taxes;

Provision - fixed assets (self-propelled and trailed agricultural machinery, equipment).

Based on the financial documentation of the borrower for the last five reporting periods, we will analyze its financial condition. To this end, we will study the balance sheet of the organization (Appendix B).

According to the balance sheet as of October 01, 2012. balance sheet amounted to 78,536 thousand rubles. During the year, the balance sheet increased by 10,080 thousand rubles or by 14.72%, as can be seen from the balance sheet structure (Appendix B). This increase was due to the increase in the following balance sheet items.

Assets. Fixed assets increased by 5,474 thousand rubles (or by 13.02%). All growth is due to working capital(Figure 3.2). In the structure of current assets, there was an increase by 4,606 thousand rubles (or 17.43%) due to an increase in inventories (11.71%) and receivables up to a year (92.19%).

Figure 3.2 - Change in the structure of the asset balance of Vesna LLC,%

Passive. Increase in capital and reserves items by 3,117 thousand rubles (or by 15.86%). This increase was due to retained earnings by RUB 3,117 thousand (15.86%). Long-term liabilities increased by 16,143 thousand rubles (64.46%) due to the receipt of investment loans. The change in short-term liabilities by 38.63% was due to the repayment of loans and an increase accounts payable.

Figure 3.3 - Change in the structure of the liability of the balance sheet of Vesna LLC,%

There are no overdue accounts payable. arrears to the budget and off-budget funds no.

Let's analyze the results of activities of Vesna LLC based on the data of the Profit and Loss Statement (Appendix D).

As of October 01, 2012, the proceeds from the sale of products amounted to 25,380 thousand rubles. compared to the same period last year, there was an increase of 15,352 thousand rubles. The positive moment is the received net profit and as of 01.10.2012 it amounted to 3,560 thousand rubles.

After analyzing the financial condition of the organization for all indicators, the coefficients are calculated (table 3.2).

Table 3.2 - Liquidity ratios based on balance sheet Vesna LLC, coefficient

Index

Absolute liquidity ratio (K1)
Intermediate coverage ratio (K2)
Current liquidity ratio (K3)
Ratio of own and borrowed funds
Return on sales (K5)
Profitability of the enterprise (K6)
Working capital turnover
Accounts receivable turnover
Accounts payable turnover

According to the Regulations of the Sberbank of Russia, the main estimated indicators are the coefficients K 1, K 2, K 3, K 4, K 5, K 6, and the remaining indicators (turnover) are necessary for a general characteristic and are considered as additional to the first six coefficients.

Based on the results of the analysis of six coefficients, the borrower is assigned the category presented in Table 3.3 for each of these indicators based on a comparison of the obtained values with the established (sufficient) ones.

Table 3.3 - Determination of the creditworthiness class of Vesna LLC, coefficient

Coefficient	Coefficient weight
	score	score	score	score	score

During 4 reporting dates the borrower belongs to the second class of creditworthiness. The value of the borrower's net assets, calculated according to the data accounting, is positive. The profitability of products (sales) is positive and corresponds to the second class of creditworthiness, the profitability of operations is also positive and corresponds to the second class of creditworthiness. The main indicators of the borrower's activity, namely the balance sheet, current assets, receivables, capital, sales proceeds, remain stable.

Industry and market. The market of agricultural producers in the Lipetsk region is currently formed. Prices for products are stable with an upward trend, the composition of competing firms is stable.

Regional. Currently in Russian Federation and the Lipetsk region there are a number of programs to support agricultural producers. In this regard, the need for products manufactured by agricultural enterprises will not decrease, but rather, on the contrary, will increase.

Shareholding. redistribution risk share capital- minimal.

Regulation of the activities of the enterprise: subordination (external financial structure), formal and informal regulation of activities, licensing of activities, benefits and risks of their cancellation, risks of fines and sanctions, law enforcement risks (the possibility of changes in the legislative and regulatory framework): The risks are minimal.

Production and management. Vesna LLC in the industry Agriculture have been operating for many years, and during this time they have managed to significantly strengthen their positions in the market of the Lipetsk region. The enterprise is profitable. The personnel at the enterprises are qualified. The quality of goods and services offered is beyond doubt. The business reputation of the enterprise is good. Unforeseen significant price increases by suppliers are not expected. Relationships with contractors are stable and time-tested. Based on the foregoing, production and management risks are minimal.

As part of the qualitative analysis, the Borrower is checked for the presence of stop factors:

From the date of state registration the potential Borrower has been less than 1 year old;

Existence of overdue debts to the Bank;

Rendering arbitration court determinations/decisions on the introduction of one of the bankruptcy procedures in relation to the potential Borrower;

Borrower is in a position litigation, which can significantly worsen his financial condition;

Stable unprofitability of the current activities of the Borrower and / or lack of activity during the analyzed period;

Negative net assets for at least one of the last two reporting dates.

The analysis did not reveal any of the listed stop factors.

The financial position of LLC "Vesna" is stable throughout its activities, but is subject to seasonal fluctuations. There is no current file of overdue settlement documents, overdue debts to budgets of different levels and off-budget funds, overdue wages to employees, current hidden losses equal to or exceeding 25% of its net assets. There are no cases of default by the borrower of obligations to Sberbank of Russia. The borrower is profitable. The dynamics of net profit and its share in the balance sheet profit does not undergo significant fluctuations during the reporting periods. The borrower maintains a stable position in the product market and a product range that is in constant demand.

During the reporting period, the borrower belongs to the second class of creditworthiness. The main indicators of the borrower's production and economic activity - balance sheet, current assets, capital, sales proceeds - remain stable.

Credited in Lebedyansky OSB No. 3850 as a legal entity since 2004, repayment of principal, interest, other payments stipulated by loan agreements are made on time and within in full, there are no cases of overdue payments on principal and/or interest.

The quality of debt servicing by the borrower under loan agreement No. 611106073 dated 09/01/2006. considered "good". No debt.

Bank employee, loan officer, based on analysis financial indicators organization, assessment of possible risks, study of its credit history in Sberbank itself and others credit organizations comes to the decision to grant a loan. However, since the borrower belongs to the second class of creditworthiness, lending will be carried out in the presence of highly liquid collateral. This decision is subject to review credit committee where the final decision will be made. In this way, economic analysis activity of the client from the standpoint of its creditworthiness is the main means of selecting potential borrowers in commercial bank. Efficient organization of the process of assessing the creditworthiness of the borrower allows the bank to reduce the level credit risks and create the necessary conditions for high-quality customer service, showing demand for credit products.

To obtain a loan, the Borrower submits the following documents to the Bank:

Application - questionnaire (Appendix 3)

Passport of the Borrower, its Guarantor and/or Pledgor (to be presented);

Table 3

Documents confirming the financial condition of the Borrower and its Guarantor:

	Provided Documents
Working	Certificate(s) of the enterprise where the Borrower and its Guarantor work for the last 6 months in the form 2-NDFL or a certificate in the form of Appendix No. 3. Persons who, during the specified period of time, were accepted to a new place of work in translation order, provide certificates in the form 2-NDFL from the current and previous place of work; In case of providing certificate(s) in the form 2-NDFL, as well as in case of reorganization during the last 6 months of the enterprise where the Borrower and his Guarantor work - an extract from the work book or a copy of the work book certified by the enterprise;
pensioners	Certificate of the amount of the assigned pension from the department Pension Fund RF and/or other government agency that pays a pension, according to the forms they use. If a pensioner receives a pension through the Bank, the certificate is not submitted.
involved entrepreneurial activity without forming a legal entity (PBOYuL), or in private practice, or having another source of income permitted by law (depending on the type of activity)	PBOYuL certificate of registration in the Unified state register individual entrepreneurs (EGRIP) or a license of a private notary, or a lawyer's certificate (presented); The original (to be presented) or a notarized copy of the permission (license) for occupation certain types activities, if they are subject to licensing in accordance with applicable law; Tax return for the period according to (submitted); Book of accounting for income and expenses (for PBOYuL paying taxes in accordance with Chapter 26.2 of the Tax Code of the Russian Federation) for a period of at least the last 6 months (submitted); Form 2 personal income tax for the last taxable period(for individuals for which taxes are paid by tax agents).

Table 4

Period for which a tax return is submitted:

Documents on the provided collateral:

a) when pledging residential premises (depending on the type of residential premises):

Documents confirming the ownership of the residential premises: a transfer agreement, a sale and purchase agreement, an exchange agreement, a donation agreement, etc.;

Certificate of state registration of rights, etc.;

Floor plan of the house, in which the mortgaged dwelling is indicated, indicating its area;

Permissive documents (permission of state bodies for construction, design and estimate documentation agreed in accordance with the established procedure, etc.);

Resolution (act) on the acceptance of a residential building for operation;

Certificate of the value of the object from the BTI or another body that maintains technical records of real estate (provided that it is included in the package of documents for registering a pledge, provided to the bodies that carry out state registration of rights to real estate and transactions with it);

A copy of the financial and personal account;

Extract from the house book;

Extract from the Unified State Register of Rights on restrictions (encumbrances) of the owner's rights to residential premises (mortgage, rent, arrest, etc.) from the bodies that carry out state registration of rights to real estate and transactions with it (it is recommended to demand from the Pledgor);

Notarized consent of all owners, spouse (s) to the transfer of residential premises as a pledge and its possible subsequent alienation; and if there are minors in the family - the appropriate permission of the guardianship and guardianship authorities (in accordance with the requirements of the current legislation);

An insurance policy under which the Bank acts as the Beneficiary, with mandatory annual re-issuance of it for the amount of the assessed value of the collateral, taking into account adjustment factors or debt on the loan and interest due for the period of validity of the insurance contract, if the amount of debt on the loan with interest is less than the estimated value;

Legal documents for land plot, on which the residential premises specified in paragraph c) are located.

b) when pledging non-residential premises:

Title documents for non-residential premises;

Insurance policy under which the Bank acts as the Beneficiary, with mandatory annual renewal;

Document on the territorial boundaries of the land plot (copy of the drawing of the plot boundaries), issued by the Committee on Land Resources and Land Management;

A certificate from the body conducting the registration and technical inventory of real estate, and a floor plan of non-residential premises (provided that it is included in the package of documents for registering a pledge, provided to the bodies that carry out state registration of rights to real estate and transactions with it);

c) when pledging land plots:

Documents confirming the ownership (lease) of the land plot;

Information about the land plot provided by the body engaged in the maintenance of the state land cadastre (cadastral map (plan) of the land plot, etc.);

A document confirming the cadastral value (standard price) of the land plot offered as collateral.

d) when pledging vehicles:

Technical passport (to be presented);

An insurance policy under which the Bank acts as the Beneficiary, with mandatory annual renewal for the full value of the vehicle or for the amount secured by the pledge. The vehicle must be insured against the risk of theft and damage.

e) when pledging securities:

A document confirming the ownership of the pledged securities:

For securities of the Savings Bank of Russia - an extract from the depository or an extract from an account in the register;

For securities of third-party issuers - in accordance with Procedure No. 1310-r /1/.

f) in case of pledge of measured ingots of precious metals:

Measured ingots;

Manufacturer's certificates.

g) when pledging objects of construction in progress:

Document on registration of property rights;

Documents confirming the ownership of the land or ownership of the land on a different right;

Building permit;

Design and estimate documentation;

Documents containing a description of the object of construction in progress.

The list of documents on mortgaged immovable property may be amended or supplemented independently by the Bank in case of adoption of normative acts on mortgage and other normative acts.

References and extracts from limited time actions can be provided before the conclusion of the pledge agreement.

All owners of joint property accepted as a pledge should be required to obtain a notarized consent to its pledge and to its possible subsequent alienation in order to prevent the possibility of recognizing the pledge agreement as invalid in a judicial proceeding.

Other documents provided for by other regulatory documents of Sberbank of Russia on lending to individuals.

At the discretion of the Bank, the amount of income of the Borrower/Guarantor indicated in the certificate of employment may be confirmed by the subdivision of the Ministry of the Russian Federation for Taxes and Duties at the place of permanent residence (registration) of the Borrower/Guarantor.

The credit officer determines the solvency of the Borrower on the basis of documents confirming the amount of income and the amount of deductions made, and the submitted Application - questionnaire.

The certificate is submitted signed by the head and chief accountant of the enterprise, sealed. If there is no position of a chief accountant or other official performing its functions, the certificate can only be signed by the head of the enterprise. In this case, a note must be made on the certificate, certified by the signature of the head: “the position of the chief accountant (another official performing his functions) is absent in the staff of the enterprise.”

When a loan is granted to a pensioner who receives a pension through a bank, solvency is calculated based on the funds actually received on his deposit, to which the pension amounts are credited (bank card account), from the bodies providing pensions, for last month on the basis of an extract received from the accounting department exercising subsequent control over deposit operations, or the pension department. In this case, the lending unit, at the request of the Borrower, sends a request to the relevant division of the Bank's accounting department about the amount of funds received for pension contribution Borrower from the bodies providing pensions for the last month.

When calculating the solvency of the Borrower:

Defined by him average monthly income net of personal income tax:

For employees - based on the data of the certificate (s) in form 2 of the personal income tax or certificate in the form (Appendix No. 3) according to the formula:

D - income minus personal income tax;

Average monthly income - average monthly income for the last 6 months;

The personal income tax rate is the personal income tax rate as a percentage.

The amount of personal income tax indicated in the certificate in form 2-NDFL or in the form of Appendix 3 is reference information and is not used in the calculation.

For pensioners - on the basis of a certificate in the form of a branch of the Pension Fund of the Russian Federation and / or other state body that pays the pension;

For citizens engaged in entrepreneurial activities without forming a legal entity, or in private practice, or having another source of income permitted by law - on the basis of a tax return (for individuals for whom taxes are paid by tax agents - forms 2 of personal income tax for the last tax period). At the same time, the amount of taxes payable according to the declaration is deducted from the income (for individuals whose taxes are paid by tax agents - Form 2 of the personal income tax for the last tax period).

From the resulting value are subtracted:

All mandatory payments specified in Section 8 of the Application - Questionnaire, with the exception of personal income tax (if income is confirmed by a certificate in the form of Appendix No. 3, then all deductions made from income indicated in it must be reflected in Section 8 of the Application - questionnaires);

Liabilities on other loans ( loan applications pending), but not less than:

50% of the established overdraft limits for bank cards.

10% loan liabilities, maximum amount which are determined by the Bank without calculating the solvency of the Borrower, based on the provided security in the form of measured precious metal bars;

20% of loan liabilities, the maximum amount of which is determined by the Bank without calculating the solvency of the Borrower, based on the provided security in the form of a pledge of securities;

Liabilities according to credit reports of BKI in the amount of:

Loan payment determined by the formula:

			P annual

		P annual

Pl - loan payment (for obligations denominated in foreign currency, is converted into the ruble equivalent at the exchange rate set by the Bank of Russia on the day the loan payment is calculated),

P annual - annual interest rate (in percent per annum). The value of the annual interest rate is established by a separate administrative document of an authorized member of the Management Board of Sberbank of Russia,

S is the loan amount,

T is the loan term (in months);

10% credit card limit;

Obligations under the guarantees provided, incl. for loan applications under consideration (except for guarantees issued under Regulation No. 285-5-r /2/), each of which is accepted in the amount of 50% of the average monthly payment for the corresponding principal obligation.

When determining the size of the average monthly obligation of the Borrower for an existing loan repaid in differentiated payments, its obligations are taken into account:

For interest - in the amount of the due payment on interest accrued on the actual balance of the loan debt, which is determined by the formula:

For principal debt:

For loans with monthly principal repayment - in the amount of the established multiple monthly payment;

For loans with periodic principal repayment - in the amount of the established multiple payment divided by the number of calendar months included in the relevant payment period;

For loans with a one-time repayment and repayment according to the schedule - in the amount calculated based on the balance of the loan debt on the loan and the remaining term of the loan in calendar months. Wherein:

Part of the month in which the Borrower submitted a loan application, starting from the date of its submission and ending with the last day of this month (inclusive), is not taken into account in the calculation;

The last month of the term of the contract is taken into account as a full month.

When determining the amount of the average monthly obligation of the Borrower on the existing loan repaid by annuity payments, its obligations are taken into account in the amount of the monthly annuity payment. If the frequency of annuity payments differs from monthly (quarterly, etc.), then for the purposes of calculation, the amount of the monthly obligation is determined by dividing the annuity payment by the number of months included in the payment period.

The solvency of the Borrower is determined at the time of his application to the Bank as follows:

R \u003d Dh * K * t, where

Dh - average monthly income (net) for 6 months, minus all obligatory payments (for pensioners - the amount of pension they receive).

The amount of net income of citizens engaged in entrepreneurial activities without forming a legal entity, or in private practice, or having another source of income permitted by law, is determined on the basis of financial documents provided by them in accordance with this Procedure.

K - coefficient depending on the value of Dh

K \u003d 0.6 with Dh in the amount of up to 45,000 rubles (or the equivalent of this amount in foreign currency) (inclusive);

K \u003d 0.7 with Dh in the amount of more than 45,000 rubles up to 70,000 rubles (inclusive) (or the equivalent of these amounts in foreign currency);

K \u003d 0.8 with Dh in the amount of more than 70,000 rubles (or the equivalent of this amount in foreign currency)

t - loan term (in months).

The equivalent income is defined as follows:

K=
Foreign exchange rate

If during the expected term of the loan (with differentiated payments) the Borrower enters retirement age, then his solvency is determined as follows:

P \u003d Dch1 * K1 * t1 + Dch2 * K2, * t2, where

Dch1 - average monthly income, calculated similarly to Dh,

t1 - crediting period (in months) attributable to the working age of the Borrower,

Dch2 - the average monthly income of a pensioner (due to the lack of documentary evidence of the size of the future pension of the Borrower, it is taken equal to the size of the basic part of the labor pension (including indexation) established by Federal Law No. 173-FZ of December 17, 2001 “On labor pensions in the Russian Federation”) ,

t2 - crediting period (in months) attributable to the retirement age of the Borrower,

K1 and K2 are coefficients similar to K, depending on the values of Dch1 and Dch2.

The month in which the Borrower enters the retirement age must be referred to as the working period.

For calculation purposes:

calendar months are used;

part of the month in which the Borrower submitted a loan application, starting from the date of its submission and ending with the last day of this month (inclusive), is not taken into account in the calculation;

the last month of the crediting period is counted as a full month.

For certain categories of Borrowers entering retirement age during the proposed term of the loan, but receiving in connection with their professional activities a permanent income that is not pension payments, or whose pension provision procedure

differs from the generally established in accordance with individual norms of the current legislation of the Russian Federation, the values (Dch2), (t1) and (t2) are set taking into account the specified norms. The fact that the relevant norms of the legislation of the Russian Federation apply to a particular Borrower is determined taking into account the opinion of the Legal Department.

When a loan is granted to the Borrower on the terms of repayment by a third party - a solvent enterprise of a part of the Borrower's debt obligations under the Loan Agreement in accordance with the Cooperation Agreement concluded with it, the calculation of the Borrower's solvency and determination of the maximum loan amount is carried out by the Bank in accordance with the requirements of this Procedure.

When granting a loan in rubles, solvency is calculated in rubles. When granting a loan in foreign currency, solvency is calculated in foreign currency.

The maximum amount of the loan provided (SP) is determined based on the solvency of the Borrower (P) at the time of his application to the Bank.

t is the loan term (in whole months).

The obtained value of the maximum loan amount is adjusted downward, taking into account the provided collateral for repayment of the loan and other factors due to the socio-economic characteristics of the Borrower and the region of his residence.

At the same time, the total collateral must cover the amount of the loan and interest due for its use for a period of at least one year (if the loan is granted for a period of up to 1 year - interest for the period established by the Loan Agreement), i.e. when calculating the maximum amount of the loan provided, based on the total collateral (O) in the formula:

the period (t) during which the assessed value of the collateral, taking into account the adjustment coefficients, or the amount of the total collateral must cover the amount of the loan and the interest due for its use, is established as follows:

If the loan is granted for a period of up to 1 year, (t) is taken equal to the loan term (in whole months)

In other cases (t) is taken as 12 months.

In order to determine the maximum loan amount that can be granted to the Borrower, it is necessary:

Make a calculation and;

Compare value and. In this case, the maximum loan amount should not exceed the smaller of the compared values.

Consider an example. Suppose a borrower decides to apply to Sberbank for a mortgage loan to purchase an apartment.

General information about co-borrowers:

Co-borrower Shkatov Ivan Viktorovich (husband)

Date of birth: 03/12/1977 Age: 32 years

Place of employment: LLC "Unior Professional Tools"

Payroll: no

Position (profession): CEO

Work experience: since 01/08/2005

Higher education

Marital status / Family composition: married / spouse

Real estate:

100% ownership share of 3 room apartment with total area 69.7 sq.m., located at the registration address

100% ownership of a 1-room apartment with a total area of 41 sq.m., located at the address: St. Petersburg, Komendatsky pr.

Vehicle: BMW 525, year 2008

Other property: no

1.2 Co-borrower - Parshakova Olga Vladimirovna (wife)

Date of birth: 05/30/1983 Age: 26 years old

Address of registration / residence: St. Petersburg, pr. Aviakonstruktorov, 44, building 3, apt. 15

Place of employment: OJSC NW Telecom

Salary project: valid from 22/03/2004

Salary card: no (has salary card at Svyaz Bank)

Position (profession): leading specialist

Work experience: since 05/14/2008

Higher education

Marital status / Family composition: married / spouse

Number of dependents: no

Availability of property owned by the co-borrower on the right of ownership:

Property: no

Car: no

Other property: no

Credit deal parameters

Type of loan - Housing, "Mortgage +" under the program "Young Family"

The purpose of obtaining a loan is the construction of a real estate object

Loan term (in whole months) - 322 months

Interest rate:

From 16.00% to 15.25% per annum (depending on the down payment) - before mortgage registration;

From 14.50% to 13.75% per annum (depending on the down payment) - after registering a mortgage

Security:

Pledge of property rights of the Co-borrowers, under the Construction Investment Agreement - for the period until the registration of ownership of the real estate object (according to the concluded Cooperation Agreement No. 47-i dated July 22, 2009 between YIT St. Petersburg CJSC and the North-Western Bank of Sberbank of the Russian Federation );

Suspensive conditions:

providing documents on the real estate object under construction.

Special conditions: no

Credit history of co-borrowers:

in the North - Western Bank of the Security Council of the Russian Federation is absent.

Obligations of co-borrowers to the Sat of the Russian Federation in aggregate: 0.00 rubles

The maximum possible loan amount, the right to make a decision on which does not go beyond the powers granted to the territorial Bank:

RUB 30,000,000.00

Information about the income of co-borrowers:

1) Net average monthly income of the Co-borrower Shkatov I.V. at the main place of work: 133,578.21 rubles.

Net additional average monthly income part-time: no

Table 5

Obligations according to BKI:

Number of contracts

The total amount of loans received on open loan agreements

Information on overdue debts (for the period of determining credit history)

Total payment under all open loan agreements

closed

open

closed

number of cases

open

149950.00 rubles

credit card

RUB 14995.00

The co-borrower plans to close credit card in CJSC VTB 24, will provide a certificate of closing the card.

The amount of income from the main place of work, minus card obligations: 118,583.21 rubles.

2) Net average monthly income of the Co-borrower Parshakova O.V. at the main place of work: 51,820.30 rubles.

Net additional average monthly income: no

Liabilities on loans received and guarantees provided: no

Table 6

Obligations according to BKI:

The amount of income from the main place of work, minus all obligations: 51,820.30 rubles.

The total income of the Co-Borrowers at their main place of work, net of all liabilities: RUB 170,403.51.

Solvency of co-borrowers: RUB 43,895,942.91

Maximum loan amount: RUB 13,921,960.96

Monthly loan payment (1st full month) from the amount of 11,525,000.00 rubles:

RUB 155,856.83 (91.46% of the net average monthly income of the Co-Borrowers).

Net income remaining at the disposal of the Co-Borrowers after payment of the payment on the loan in question: 14,546.68 rubles. (for a family of 2).

Net income remaining at the disposal of the Co-Borrowers (subject to the provision of a certificate from VTB 24 CJSC on closing a credit card) after payment of the payment on the loan in question: 29,541.68 rubles. (for a family of 2).

3. Loan security:

Information about the pledge:

Reservation of an apartment: Help about the reservation

- No. 0207S0118 dated February 4, 2010: “1-room apartment with a total area of 55.6 sq.m., located at the address: St. Petersburg, Petrogradsky district, Barochnaya st., 12/76, letter B. Developer: CJSC YIT St. Petersburg, until February 22, 2010;

- No. 0207S0117 dated February 4, 2010: “1-room apartment with a total area of 55.5 sq.m., located at the address: St. Petersburg, Petrogradsky district, Barochnaya st., 12/76, letter B. Developer: CJSC YIT St. Petersburg, until February 22, 2010.

Subject of pledge/characteristic:

- “1-room apartment with a total area of 55.6 sq.m., located at the address: St. Petersburg, Petrogradsky district, Barochnaya st., 12/76, letter B. Developer: CJSC YIT St. Petersburg”, until February 22, 2010;

- “1-room apartment with a total area of 55.5 sq.m., located at the address: St. Petersburg, Petrogradsky district, Barochnaya st., 12/76, letter B. Developer: CJSC YIT St. Petersburg”, until February 22, 2010.

Pledgers: Shkatov Ivan Viktorovich, Parshakova Olga Vladimirovna

The cost of the apartment, according to the Certificate of booking the apartment:

RUB 7,209,930.00

RUB 7,196,962.50

Total: 14,406,892.50 rubles

Correction factor: not applicable

Security deposit:

RUB 7,209,930.00

RUB 7,196,962.50

Total: 14,406,892.50 rubles

Additional information:

1. The amount of the loan is 11,525,000.00 rubles and the interest due for its use in the amount of 1,844,000.00 rubles for a period of one year is 13,369,000.00 rubles;

2. Co-borrower Shkatov I.V. involves sole registration at the place of permanent residence in the acquired property.

3. Own funds will amount to 2,881,892.50 rubles (20.00%) of the value of the Property (accumulation).

4.conclusion of the security unit (No. 23-14/07/892 dated February 10, 2010):

1. General information about the essence of the application:

Requested loan amount: RUB 11,525,000.00

Loan term: 322(months)

Purpose of lending: – Acquisition, construction and reconstruction of real estate (purchase of two one-room apartments under the Mortgage+ program).

2. General information about the co-borrower:

Surname, Name, Patronymic: Shkatov Ivan Viktorovich (husband of Parshakova O.V.)

Contact phones: work. 4498350, house. 3438282, mob. 9219609247;

Name of the employing organization: Unior Professional Tools LLC TIN 7810030006

Position: General Director

Average monthly income for the last 6 months: 153,537 rubles.

3. General information about the co-borrower:

Surname, name, patronymic: Parshakova Olga Vladimirovna (wife of Shkatov I.V.)

Contact phones: work. 7199293, house. 3438282, mob. 9215959025;

Name of the employing organization: OJSC S-Z Telecom, TIN 7808020593

Position: Leading Specialist

Average monthly income for the last 6 months: 59,563 rubles.

Availability of credit history: we do not have information about the availability of loans in other banks.

The co-borrowers submitted a Certificate issued by YIT St. Petersburg CJSC on reservation for Shkatov I.V. and Parshakova O.V. one-room apartment with a total area of 55.6 m2 at the address: St. Petersburg, st. Barochnaya, 12/76, letter "B", conditional apartment number 95 and a one-room apartment with a total area of 55.5 m2 at the address: St. Petersburg, st. Barochnaya, d. 12/76, letter "B", conditional apartment number 96.

As a result of the verification of the submitted documents, it was established that the passport data, addresses of registration, actual residence and other information indicated in the questionnaire of co-borrowers correspond to reality.

The information specified in the certificates of income of co-borrowers and the amount of deductions made are reliable. Wage employees are paid on time. The fact of registration of enterprises-employers of co-borrowers, their location at the specified founding documents addresses confirmed. No negative information was received in relation to these organizations, the reliability of co-borrowers during the audit.

Verified persons in the current "STOP-LISTS", the List of borrowers of Sberbank, the provision of services to which is recognized as inappropriate and in the Register of persons who have proven themselves negatively when working with the North-West Bank of Sberbank of Russia, do not appear.

An on-site inspection was carried out at the place of work of the co-borrower Shkatov I.V.

An on-site inspection at the place of work of the Borrower was not carried out, because the number of employees at the employer is more than 50 people.

Based on the foregoing, the issuance of a loan to Shkatov I.V. and Parshakova O.V., UBiZ considers it possible.

Conclusion of the legal department: The legal department does not object to the provision of a loan to Ivan Viktorovich Shkatov, Olga Vladimirovna Parshakova.

Conclusion of other divisions: no.

7.conclusion of the department of lending to private clients

The Department of Lending to Private Clients considers it possible to provide a Housing Loan (“Mortgage +”) under the “Young Family” program for participation in shared construction Objects:

1-room apartment with a total area of 55.6 sq.m., located at the address: St. Petersburg, Petrogradsky district, Barochnaya st., 12/76, letter B;

1-room apartment with a total area of 55.5 sq.m., located at the address: St. Petersburg, Petrogradsky district, Barochnaya st., 12/76, letter B

Co-borrowers Shkatov Ivan Viktorovich, Parshakova Olga Vladimirovna in the amount of 11,525,000.00 rubles, at 16.00% per annum; after providing the bank with a properly executed document confirming the state registration of the mortgage of the property in favor of the Bank at 14.50% per annum for a period of 322 months.

The result of the visual assessment of Clients: positive

The result of the visual assessment of the submitted documents: positive

Degree (level) of risk: absent.

Index	Designation	Calculation according to the forms of financial statements
Absolute liquidity ratio	K1	Cash / [Short-term liabilities total - Deferred income - Provisions for future payments]
Critical Appraisal Ratio (Intermediate Coverage Ratio)	K2	[Cash + Short-term financial investments + Accounts receivable, payments on which are expected within 12 months] / [Current liabilities total - Deferred income - Provisions for future payments]
Current liquidity ratio	K3	Current assets total / [Current liabilities total - Deferred income - Reserves for future payments]
Ratio of own and borrowed funds	K4	Capital and reserves total / [Long-term liabilities total - Short-term liabilities total - Deferred income - Reserves for future payments]
Profitability, %	K5	(Profit from sale / Proceeds from sale) x 100%

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In general, it should be noted that such changes in the assets of the bank's balance sheet are due to the fact that the dominant items throughout the entire period are cash, net loan debt and net investments in securities.

Table 14 presents data reflecting the structure of the bank's assets for the period under review.

Table 14. Structure of assets of PJSC "Sberbank of Russia" in 2015 - 2017

Index				Changes in the structure, p.p.
	Specific gravity,	Specific gravity,	Specific gravity,
Cash
Due to credit institutions in the Central Bank of the Russian Federation
Funds in credit institutions
Financial assets at fair value through profit or loss
Net debt
Net investments in securities and other available-for-sale financial assets
Net investment in securities held to maturity
Current Income Tax Claim
Fixed assets, intangible assets and inventories
Other assets
Total assets

In this case, it can be seen that in the structure of assets, the dominant items throughout the analyzed period are net loan debt and investments in securities. The remaining indicators have an insignificant share, but, nevertheless, form the total assets.

The effectiveness of bank asset management is reflected in the indicators of its financial performance. Figure 11 shows the dynamics of profit received by the bank during 2015 - 2017.

Rice. 11. Dynamics of profit of PJSC "Sberbank of Russia" in 2015 - 2017, million rubles

It should be noted that the bank's profit structure is dominated by stable interest income sources, which is a factor that has a positive impact on the stability of future income, i.e. minimum degree of risk.

The growth of profit before tax amounted to 340,995 million rubles. and profit after tax for 279,902 million rubles. for 2016, which in relation to 2015 is - 111.11% and 128.17%, respectively.

The growth of profit before tax in 2017 amounted to 197,990 million rubles. and profit after tax by 155,300 million rubles, which in relation to 2016 is 30.55% and 31.16%, respectively.

Table 15 presents data on changes in the main profit indicators of Sberbank of Russia during the analyzed period.

Table 15. Indicators of the formation and change in profit of PJSC Sberbank of Russia

Index	2016, billion rubles	2017, billion rubles	Change, %
Net profit
Operating income before provisions
Operating expenses
Expenses for creating provisions for impairment of debt financial assets

It can be seen that the bank's net profit in 2017 increased to 748.7 billion rubles, which is 38.2% higher than in 2016. Operating income before deduction of provisions for impairment in 2017 increased by 12.1% - up to 1903, 3 billion rubles, both from net interest income and net fee and commission income. In 2017, the cost of creating provisions for the impairment of debt financial assets decreased by 16.1% to RUB 287.3 billion. in comparison with the figure for 2016, which amounted to 342.4 billion rubles. Operating expenses in 2017 showed a decrease by 0.7% to 672.8 billion rubles, mainly due to a change in the methodology for calculating depreciation on fixed assets and expenses for information services. Excluding these changes, operating expenses would have amounted to 694.1 billion rubles. growth for the year would be 2.4%.

The efficiency of the bank can also be assessed on the basis of calculating indicators characterizing its financial condition and determining their compliance with the recommended standards of the Bank of Russia.

Table 16 presents data on the economic standards of capital adequacy and liquidity of the bank.

Table 16. Economic capital adequacy and liquidity ratios of Sberbank of Russia PJSC in 2015 - 2017, %

standard	Standard value
Bank's basic capital adequacy ratio H1.1
Bank's core capital adequacy ratio H1.2
Adequacy ratio of own funds (capital) of the bank H1.0
Instant liquidity ratio of the bank H2
Bank's current liquidity ratio H3
Long-term liquidity ratio of the bank H4
Maximum risk limit per borrower or group of related borrowers H6
Maximum size of large credit risks N7
Norm of the maximum amount of loans, bank guarantees and guarantees provided by the bank to its participants (shareholders) N9.1
Total risk ratio for bank insiders N10.1
Normative use of own funds (capital) of the bank for the acquisition of shares (stakes) of other legal entities N12

It can be seen that Sberbank of Russia complies with the standards recommended by the Bank of Russia, has an average degree of liquidity, its position is stable, which allows it to continue to function and develop.

Solvency indicators of the bank in 2015 - 2017 are presented in table 16.

Table 16. Solvency indicators of PJSC "Sberbank of Russia" in 2015 - 2017

In this case, it can be seen that the current solvency ratio in 2015 is below the recommended value, which indicates that the bank is insufficiently provided with working capital to conduct business activities and timely repay its term liabilities, but since 2016 the situation has improved and the indicator has exceeded the normative value.

Quick solvency ratio in the period for 2015 - 2017. higher than the recommended value, which characterizes the bank's ability to repay short-term liabilities through the sale of liquid assets.

Absolute (monetary) solvency ratio in 2015 - 2017 below the recommended value, which characterizes the activity of the bank from the negative side.

Table 17 presents an analysis of the financial stability of the bank according to the method of V. Kromonov.

Table 17. Calculation of indicators of financial stability of PJSC "Sberbank of Russia" according to the method of V. Kromonov

Index
K1 - general reliability factor
K2 - instant liquidity ratio
K3 - cross-coefficient
K4 - general liquidity ratio
K5 - capital protection ratio
K6 - coefficient of stock capitalization of profit
N - reliability index

From the above data, we can conclude that the bank's activities do not meet the criteria for financial stability of V. Kromonov's methodology. None of the studied indicators approached the entered normal value.

Profitability analysis of the bank's activities in 2015 - 2017 presented in table 18.

It should be noted the stable financial position of the bank for the analyzed period. The standards are within the limits set by the Central Bank. PJSC Sberbank of Russia has the right strategy to achieve such significant results. In all cases, stable development is observed, which, in turn, has a positive effect on banking activities.

Table 18. Analysis of the profitability of PJSC "Sberbank of Russia" in 2015 - 2017

Index				Deviation

Indicators correlated with the total amount of assets (capital)
ROA - Return on Assets
ROE - Return on Equity
Profitability of main operations (in % per annum)
Profitability of operations with foreign currency (in % per annum)
Profitability of other operations (in % per annum)
Net interest margin (in % per annum)
Level of administrative and management expenses (in % per annum)
Level of change in reserves for possible losses (in % per annum)
Level of impact of foreign currency revaluation (in % per annum)
Structural indicators correlated with the financial result:
Income structure indicator (share of one-time income)
Cost structure indicator (share of administrative and management costs)
The level of labor costs
Profitability indicators of individual operations:
Net spread (in % per annum)
Profitability of lending operations (in % per annum)
Profitability of operations with securities (in % per annum)
Indicators of the level of expenses by type of funds raised:
The cost of funds raised (in % per annum)
The level of expenses on attracted funds from credit institutions
The level of expenses on funds on the accounts of other bank customers - jur. persons
The level of expenses on loans, deposits and other attracted funds of legal entities (in % per annum)
Level of expenses on own debt instruments (in % per annum)
The level of spending on funds of the population
The level of expenditures from the budgets of all levels and extrabudgetary funds

Sberbank of Russia strives to meet high banking standards. In order to maintain and increase the results achieved, the bank needs to work in the following areas: strengthen its competitive position, increase the level of net interest margin at a level better than competitors, ensure the growth of non-lending income and high efficiency in cost management, follow the bank's strategy that leads to success and help you achieve the desired results.

2.2 Characteristics of the client basejar

The main share of financial operations of Sberbank of Russia is made up of active operations related to the provision of loan products that differ in volume, terms and purpose of lending.

It should be noted that Sberbank of Russia, in implementing its credit policy, seeks to develop relations with various categories of clients: from the largest borrowers to borrowers representing small and medium-sized businesses, and expands lending to individuals.

The structure of the bank's client base, consisting of legal entities, is shown in Figure 12.

Rice. 12. Structure of the loan portfolio of legal entities of Sberbank of Russia PJSC as of 01.01.2018

As can be seen, in the structure of the loan portfolio, clients of medium and small businesses take a total of 34.3%, which indicates the support of this class of borrowers by Sberbank. Despite the fact that the largest share is made up of large corporate clients, who continue to form the main income from banking operations, at the end of 2017, the portfolio of loans issued to small businesses amounted to more than 650 billion rubles, and the number of lending clients exceeded 1 million .

At the same time, the work of Sberbank of Russia is not limited to cooperation with legal entities. The credit work of the bank is also characterized by the focus of work with clients - individuals who are also consumers of various credit products.

In other words, it should be noted that one of the main competitive advantages of Sberbank of Russia is its extensive, diversified client base.

Individual entrepreneurs and legal entities are also characterized by good turnover rates for loan products and the possibility of generating current profit, i.e. reducing the period of cash in circulation and increasing the possibility of bringing the corresponding profit.

In the situation with individual borrowers, it can be seen that not only did the volume of lending increase (by 8 times), which indicates the attractiveness of the offered loan products, but the level of repayment of loan amounts also increased (by 1.6 times), and the repayment period of loans also decreased. At the same time, the highest growth rates are shown by retail loans issued for the so-called urgent needs.

With regard to individual entrepreneurs and legal entities, the growth rates are more moderate, but they are also evidence of the attractiveness of the bank's loan products and, as a result, an indicator of the effectiveness of the bank's lending work.

At the same time, it should be noted that the increase in lending volumes and the differentiation of loan products have a downside - it is necessary to take care of the security of the bank's lending work, primarily related to managing credit risks and objectively assessing the creditworthiness of borrowers.

2.3 Characteristics of the methodology for analyzing the creditworthiness of borrowers used in the bank

The methodology for determining the borrower's creditworthiness used by the bank was developed on the basis of the Appendix to the Rules for Loans to Legal Entities by Sberbank of Russia. The purpose of this technique is to analyze the financial condition and degree of creditworthiness of the borrower, as well as to identify credit risks and determine the possibility, size and conditions for granting a loan.

The main directions of the analysis of the creditworthiness of the borrower in the bank are shown in Figure 13.

When conducting a quantitative analysis, the dynamics of estimated indicators, the structure of balance sheet items, the quality of assets, and the main directions of the economic and financial policy of the borrower are considered. The qualitative risk analysis is based on subjective factors, which, due to their diversity and the lack of specific information for each borrower, cannot be systematized. Therefore, at present, a qualitative analysis of the borrower's creditworthiness is not used in Sberbank of Russia, which, in our opinion, reduces its objectivity and comprehensiveness.

Directly assessing the borrower's creditworthiness in Sberbank of Russia involves two stages:

Assessment of the financial condition of the borrower;

The assessment of the financial condition of the borrower involves the calculation of three groups of performance indicators:

liquidity ratios;

Equity ratio;

turnover and profitability ratios.

The economic interpretation of the values of these indicators is presented in Table 23, the calculation formulas are in Appendix A.

Table 23. The main estimated indicators of the creditworthiness of the borrower

Coefficient number	Name of indicator	Explanation
	Absolute liquidity ratio	Reflects what part of short-term debt obligations can be repaid at the expense of available cash, funds in deposit accounts and short-term financial investments
	Quick liquidity ratio (intermediate coverage ratio)	Reflects the ability of the borrower to quickly release funds from economic circulation and repay debt obligations
	Current liquidity ratio (total coverage ratio)	Gives an idea of the overall level of liquidity of the borrower
	Equity ratio	Shows the share of own funds in the total amount of the borrower's funds, i.е. level of financial autonomy
	Profitability of products (profitability of sales)	Reflects the share of profit from sales in revenue
	Profitability of the borrower's activity	Reflects the share of net profit in revenue

The coefficients presented in Table 23 are the main estimated indicators according to the methodology of Sberbank of Russia. Other indicators of turnover and profitability can also be calculated, however, they are used for the general characteristics of the borrower and are considered as additional.

The analysis of the calculation results of these six coefficients is completed by assigning a category to the borrower for each of them based on a comparison of the obtained values with the established sufficient ones (Table 24).

Table 24. Differentiation of indicators by categories

Coefficient




other than trade
for trade	0.25 and above
	0.10 and above	unprofitable
	0.06 and above	unprofitable

Sufficient values of these coefficients for making a positive conclusion about the creditworthiness of the borrower are as follows:

Table 25. Calculation of the sum of points

Index	actual value	Indicator weight	Point calculation

The S score is calculated using the following formula:

The S value, together with other factors, is used to determine the borrower's rating.

Note that the evaluation of the results of these calculations is based on their comparison in dynamics - at the beginning and end of the reporting period.

The next step in the analysis of the borrower's creditworthiness is to determine its rating (class). In accordance with the methodology of Sberbank of Russia, it is possible to establish three classes of borrowers (Table 26):

For each borrower, a calculation and analytical table is compiled (Appendix B), which is a conclusion to the analysis of the borrower's creditworthiness.

Let us illustrate the features of the application of this technique based on the analysis and assessment of the creditworthiness of one of the potential borrowers of the Savings Bank of Russia - Smolensk Medical Company LLC.

LLC "Smolensk Medical Company" was established on July 4, 2012, and is still functioning. The main activities of the organization are the sale of medicines, medical products and medical equipment.

Currently, the organization is experiencing significant financial difficulties, which are expressed in a decrease in the volume of products sold due to the influence of external economic factors that affect this area as well, as well as fairly strong competition in the regional market and lobbying by government authorities for the interests of large metropolitan companies.

The last two years in the company's activities have resulted in losses and the formation of a negative financial result. In order to improve the efficiency of operations and develop strategies for differentiated development, the company's management decided to apply to the regional branch of Sberbank of Russia PJSC in order to obtain a long-term loan.

Based on the financial statements provided by Smolensk Medical Company LLC (Appendices D, E), creditworthiness was assessed and the appropriate borrower class was assigned, on the basis of which a decision was made to grant (refuse) a loan.

Table 27 presents the data on the basis of which an opinion was drawn up on the creditworthiness and reliability of Smolensk Medical Company LLC.

Table 27. Assessment of the creditworthiness class of Smolensk Medical Company LLC according to the methodology of Sberbank of Russia

Odds	Values		Weighted scores
		Changes
K1: Absolute liquidity ratio
K2: Intermediate coverage ratio
K3: Total coverage ratio
K4: Equity ratio
K5: Profitability of products (sales)
K6: Profitability of operations
Total score
Credit class

In this case, it is clear that during the analyzed period - 2017 (indicators were considered at the beginning and end of the year), the company has the third class of the borrower. Despite the positive changes that are typical for all six calculated ratios, as well as the fact that the organization has class 3 in terms of its equity ratio, it was denied a loan as an unreliable and risky borrower.

The management of the bank's operational office advised to apply again with a loan application next year, provided that the calculated coefficients reach at least the second class.

In this case, the shortcomings of this approach should be noted.

Firstly, the creditworthiness of the borrower was assessed only on the basis of the proposed six ratios. The qualitative indicators of the organization's activities, such as its business reputation, credit history, were not taken into account, the possibility of financial recovery was not assessed, the possibilities of collateral for a loan were not considered at the expense of existing non-current assets or cash forming additional capital.

Secondly, it can be assumed that the director of Smolensk Medical Company LLC will not wait for the next year, but will apply for a loan to another bank, where the conditions for issuing a loan and analyzing the borrower's creditworthiness are more loyal. In other words, in this case, the Smolensk operational office of the Savings Bank of Russia lost a client who could become a permanent base in the future.

Thus, summing up the assessment of the activities of Sberbank of Russia, it should be noted that, despite the positive indicators of economic activity, there are some shortcomings in the process of organizing credit work, which forms the basis of the bank's active operations and forms the bulk of its income.

The shortcomings affect the procedure for analyzing the creditworthiness of borrowers and making decisions based on it on the provision of loan products. The currently applied methodology was developed on the basis of the Annex to the Regulations for granting loans to legal entities and takes into account mainly the quantitative indicators of the borrower's activity, the information for calculating which comes from financial reporting data, which does not always accurately reflect the real state of affairs.

The methods of assessing creditworthiness currently common in foreign practice of banking management based on the qualitative indicators of the borrower's activity are not used in Sberbank of Russia, which is a rather serious drawback, since the refusal to issue a loan product and ignoring a number of factors that create opportunities for the development of the borrower lead to their leaving for other banks, and, consequently, Sberbank is losing potential customers and the opportunity to receive additional income from active lending operations for individuals and legal entities.

3.1 Directionsimprove efficiencymethodologies for assessing the creditworthiness of borrowers

The considered mechanism for assessing the creditworthiness of borrowers used in Sberbank of Russia allows us to conclude that this methodology is currently one of the most realistic in the practice of domestic banking management, since it is adapted to the Russian conditions for the functioning of business entities.

At the same time, the use of this methodology is based on an assessment of current performance indicators, but does not take into account the performance of past years and the ability of economic entities to restore their financial position in the future, which makes it impossible for them to obtain the necessary loan for the implementation of investment projects and business plans.

On the one hand, such a policy of Sberbank of Russia is understandable, since the bank seeks to reduce the level of risks of non-repayment of loans, however, on the other hand, it should be borne in mind that borrowers apply for additional funds if they are needed. That is, in this case, the bank deprives such enterprises of the possibility of further development, which adversely affects the ability to restore the Russian economy as a whole.

In order to improve the quality and accuracy of assessing the creditworthiness of borrowers, we offer the following recommendations, which are presented in Figure 14.

Rice. 14. Directions for improving the efficiency and accuracy of assessing the creditworthiness of borrowers

In this case, it is proposed to expand and refine the information base for analysis, as well as to introduce a number of additional indicators. Thus, the use of a limited number of indicators that are normatively fixed in the methodology of the Savings Bank of Russia reduces the quality of the analysis. An analysis of the financial position of the borrower only on the basis of the last balance sheet does not allow determining at what stage the organization is: either this is a recession stage, when it is really risky to issue a loan, or this is a local, temporary crisis, and issuing a loan will allow the organization to restore its position. An analysis of the moral qualities and business reputation of the borrower makes it possible to determine not only his current position, but also to assess his ability to earn the necessary funds in the future, which is more important than a statement of the current unfavorable state of the client. Availability of a unified information database reflecting the credit history of customers, incl. if he applied to various banks, they allow you to obtain the necessary additional information to assess the level of his reliability.

Thus, we propose the following algorithm for assessing the borrower's creditworthiness, which somewhat supplements the methodology adopted by Sberbank of Russia (Fig. 15):

Rice. fifteen.Refinedmethodology for assessing the borrower's creditworthiness

In this case, five stages of assessing the borrower's creditworthiness are proposed, instead of three, which are used in the existing methodology of Sberbank of Russia. The first two stages coincide with the methodology used in the Sberbank methodology. However, instead of six coefficients, we propose to calculate five:

Current liquidity ratio (K1);

Quick liquidity ratio (K2);

absolute liquidity ratio (K3);

Autonomy coefficient (K4);

The profitability ratio of the main activity (K5).

The information basis required to calculate these ratios is the aggregate balance sheet of the borrower, which is compiled on the basis of financial statements.

In this case, the profitability ratio of activities based on net profit is not calculated, since in this case it has a low informative content.

The second stage involves assigning a class to the borrower based on the calculated financial condition ratios. Since we have introduced new calculation coefficients, we propose the following criteria for class distribution of borrowers (Table 28):

Table 28. Distribution of categories of indicators based on calculated coefficients

Table 29 proposes the division of borrowers into classes according to the calculated score and subsequent recommendations for further analysis.

Borrower class
		Without additional analysis, a positive decision is made to grant a loan
		It is necessary to assess the probability of bankruptcy and analyze whether the organization should reduce its costs
		It is necessary to conduct additional analysis and calculate the fundraising ratio and profitability indicators, on the basis of which the final decision on the loan application is made
	2.42 and above	Without additional analysis, a decision is made to refuse a loan

In other words, the analysis of the activities of borrowers, according to the results of which they score from 1.0 to 1.5 points, ends at this stage, since such a borrower is trustworthy and its subsequent assessment will simply be too much time wasted.

For borrowers who are assigned to classes 2-3, a subsequent analysis is necessary, i.e. implementation of stages 3 and 4 of the assessment.

A borrower who falls into the category of the fourth class also does not need further analysis, since in this case it is advisable for him to refuse a loan, because. such a borrower is a source of increased credit risk for the bank.

At the third stage, for a number of categories of borrowers, the creditworthiness index is calculated according to the E. Altman model, the so-called. Z score:

Z = 3.3 H (EBIT / ASSET) + 1.0 H (REVENUE / ASSET) + 0.6 H (SA / AC) + 1.4 H (ACCUMULATED PROFIT / ASSET) + 1.2 H (NOF / ASSET), (4)

where EBIT is earnings before interest and taxes;

SC - equity;

ZK - borrowed (attracted) capital;

CHOK - net working capital.

Criteria for assessing the Z indicator:

1.80 - the probability of creditworthiness is extremely low, the loan application should be rejected;

1.81 - 2.7 - the probability of creditworthiness is low, additional analysis should be carried out, but it is advisable to refuse a loan application;

2.8 - 2.9 - creditworthiness of the average level, additional analysis is required, the decision on the loan application may be positive;

3.0 - creditworthiness is sufficiently high, additional analysis is not required, a positive decision is made regarding the loan application.

If the calculation of additional coefficients is required, then the fourth stage of the analysis of the borrower's creditworthiness begins, at which the following additional coefficients are calculated:

1. The borrowing ratio (TO DRR), which is calculated as the ratio of the borrowed capital of the organization (minus accounts payable) to the total volume of sources of financing activities.

If the value of this ratio is more than 65%, this means that the company's dependence on borrowed funds is quite high. In this case, it is advisable to calculate a number of additional coefficients to clarify the financial condition of the borrower:

1. The share of profit in income (the ratio of net profit to gross profit).

2. The rate of return on assets (the ratio of net profit to the amount of assets).

On the basis of a set of indicators calculated as necessary, a decision is made to grant a loan to the borrower, or to refuse it in case of unreliability.

Let us illustrate the possibilities of using this technique and evaluate its economic efficiency and feasibility.

3.2 Evaluation of the cost-effectiveness of the proposed activities

On the example of the analysis of the creditworthiness of the borrower - LLC "Smolensk Medical Company", the case of which was considered in clause 2.3, we will illustrate the possibilities of applying the proposed methodology and assess how appropriate it is.

Based on the financial statements data, we will compile an aggregated (enlarged) balance sheet of Smolensk Medical Company LLC (Appendices D, E) by main sections (Table 30):

Table 30. Aggregated (enlarged) balance sheet of Smolensk Medical Company LLC, thousand rubles


Index			Index
Fixed assets			Equity
Cash			Long-term liabilities
Accounts receivable			Accounts payable
current assets total			Total short-term liabilities

Based on the aggregated balance sheet data, we calculate the indicators of the financial condition of Smolensk Medical Company LLC and determine the class of the borrower (Table 31):

Table 31

Index		Indicator weight	Sum of points
	Meaning	Meaning





Borrower class

In this case, it can be seen that a more accurate analysis has been obtained, where the company has a stable third class of creditworthiness, on the basis of which a decision is made to refuse a loan application.

Z = 3.3 x (5780 / 167499) + 1.0 x (127540 / 167499) + 0.6 x (65870 / 96629) + 1.4 x ((940) / 167499) + 1.2 x (65870) / 167499) = 1.698

As you can see, the value of the Z indicator is less than 1.80, therefore, at this stage, under the existing operating conditions, the level of creditworthiness of Smolensk Medical Company LLC is extremely low, since there is a high probability of the threat of bankruptcy of the organization and a high level of credit risk for the bank.

Even if the credit department of the operational office of Sberbank of Russia, where the company applied with a loan application, despite the results of the creditworthiness assessment (see paragraph 2.3) of the organization and the analysis of its credit history and business reputation, would make a positive decision, then the method we proposed unequivocally shows that in this case such a decision provoked a high level of risk.

The positive reputation of the organization could not help its financial recovery, since the diagnostics of bankruptcy based on the Altman model shows that at the moment this probability is extremely low.

Therefore, in the event of a positive decision on the loan application, the servicing operations office would have to spend additional resources on credit monitoring, which would lead to a higher cost than the benefit received from the loan.

The refined methodology proposed by us allows us to get rid of unnecessary fluctuations in favor of assessing the borrower's creditworthiness, and to reduce the time for analysis.

Additional advantages of this technique are the following:

The methodology does not require additional information about the borrower, which simplifies the process of its assessment;

Despite the apparent simplicity of the set of indicators, this technique allows you to evaluate the borrower from various angles and identify its weaknesses, develop recommendations aimed at restoring its solvency in the future;

The evaluation algorithm is quite complete and includes all the coefficients necessary for the analysis;

The use of this technique allows to reduce the risk when analyzing the borrower's creditworthiness.

Conclusion

An analysis of the available approaches to assessing the creditworthiness of a borrower allows us to conclude that in modern conditions, commercial banks need a large amount of information about organizations that act as initiators of loan applications. Making decisions on their satisfaction or refusal largely determines not only the effectiveness of the implementation of the credit work of the bank, but also is important in minimizing the credit risks that the bank faces in the course of its activities.

The main purpose of the analysis of the borrower's creditworthiness is to identify its ability and willingness to fulfill credit obligations on time and in accordance with the terms of the loan agreement. In each case, the bank must determine the level of credit risk and assess its own willingness to take it.

Considering the available approaches and valuation methods, it should be noted that, despite their diversity, almost all of them use the same ratios: liquidity, financial stability, and some indicators of profitability.

In foreign banking practice, combined methods are quite common, combining quantitative methods of analysis (calculation of financial ratios) and qualitative methods, on the basis of which a client rating is compiled. Domestic banks prefer to work directly with quantitative methods for assessing a given set of financial indicators of the borrower's activity.

The general conclusion that can be drawn, evaluating the effectiveness of these methods, is their incompleteness, which does not allow for a comprehensive analysis and assessment of the borrower's reliability. Such an approach largely deprives enterprises that are temporarily in a state of crisis of the opportunity to ensure their further development due to the bank's refusal to provide a loan.

In the practical part of the final qualification work, the methodology for assessing the borrower's creditworthiness, used by the largest bank in the country - PJSC Sberbank of Russia, was analyzed.

The share of borrowers - legal entities and individual entrepreneurs - in the total customer base is more than 50%. In conditions of economic instability and the desire of most enterprises to expand their activities, the implementation of diversified development projects, or simply the need to maintain current activities, cause an increasing need to attract borrowed capital. At the same time, bank lending acts as an alternative to the request for investment funds from large companies and enterprises, which creates the need for a more effective analysis of the borrower's creditworthiness.

It should be noted that the methodology of Sberbank of Russia, in comparison with the methods used by other banks, is the most realistic and allows taking into account many aspects of the borrower's activities. The methodology is quite restrained and cautious when making a decision on assigning a borrower class and issuing a loan, which allows minimizing the risk level of the bank itself. For example, if, according to the rating methods applicable in foreign banks, an enterprise can count on obtaining a loan or lending on favorable terms, then a negative decision will be made based on the Sberbank methodology.

However, this technique is not without drawbacks, since according to its rules, it is the current state of the enterprise that is assessed, i.e. the phase of its life cycle is not considered, nor is the possibility of financial recovery of the borrower taken into account.

In other words, Sberbank of Russia considers the borrower as "here and now", without considering the prospects, i.e. solvency is assessed. At the same time, the fundamental difference between creditworthiness and solvency is its focus on future performance, since the loan repayment schedule is also focused on the future period of the borrower's activity.

The mechanism for applying this technique was illustrated by the example of a potential bank borrower - Smolensk Medical Company LLC, which is currently experiencing financial difficulties and needs a loan.

According to this methodology, the organization received the lowest class of borrower, as a result of which the loan application was denied.

In the third chapter of the final qualifying work, an additional methodology for assessing the borrower's creditworthiness was proposed, which can be used in the activities of the operating offices of Sberbank of Russia. It was proposed to reduce the number of calculated coefficients characterizing the financial condition, the criteria for assigning a class according to the calculated coefficients were specified.

As additional stages, it was proposed to introduce an assessment of the prospects for restoring creditworthiness based on the calculation of E. Altman's methodology, as well as supplement it with an analysis of profitability indicators, if necessary.

The possibilities of this technique were also illustrated by the example of the analysis of the creditworthiness of Smolensk Medical Company LLC, according to the results of which the data on its low level were confirmed, and it was also found that this borrower would not be able to restore its creditworthiness in the near future.

Thus, the proposed methodology is appropriate and can be applied in the practice of bank lending.

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Indicators	Values			Coefficient category		Indicator weight
Indicators	01.01.2014	01.01.2015	change	01.01.2014	01.01.2015	Indicator weight
1	2	3	4	5	6	7
	0.233	0.413	0.18	1	1	0.05
	0.541	0.88	0.339	2	1	0.1
	1.385	2.009	0.624	2	1	0.4
	0.445	0.625	0.18	1	1	0.2
	-0.009	0.096	0.105	3	3	0.15
	-0.016	0.073	0.089	3	1	0.1

Indicators	Weighted scores		Structure, %
Indicators	01.01.2014	01.01.2015	01.01.2014	01.01.2015	change
1	8	9	10	11	12
K1 Absolute liquidity ratio	0.05	0.05	2.5	3.846	1.346
K2 Intermediate coverage factor	0.2	0.1	10	7.692	-2.308
K3 Current ratio (total coverage ratio)	0.8	0.4	40	30.769	-9.231
K4 Equity-to-borrowing ratio	0.2	0.2	10	15.385	5.385
K5 Profitability of products (or profitability of sales)	0.45	0.45	22.5	34.615	12.115
K6 Profitability of the enterprise	0.3	0.1	15	7.692	-7.308
Total score	2	1.3	100	100	-0
Credit class	3	3

Assessment of the borrower's creditworthiness according to the methodology of the Savings Bank of Russia. Assessment of the borrower's creditworthiness on the example of OJSC 'Sberbank of Russia' Making the final decision: to issue a loan or not

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